Fiscal Agency

Fiscal Agent Policy

Authority
1. This policy is in all respects subordinate to the articles of incorporation, by laws and standing rules of the corporation.
General
1. This policy is designed to detail the circumstances in which and the method by which the corporation may act as a fiscal agent.
Types of Activities Which May Be Sponsored
1. The activities for which SF Pride may act as a fiscal agent shall:
  1. Be restricted to a total of three in any calendar year.
  2. Be consistent with the mission, goals and objectives of the corporation.
  3. Have an annual budget not exceeding $20,000.
  4. Be of a ‘once only’ nature or be an annual event and/or activity.
  5. Be community based.
2. The activities for which SF Pride may not act as a fiscal agent shall include those which:
  1. Exhibit an unacceptable degree of financial risk.
  2. Shall be run ‘for profit’.
  3. Relate to ongoing administrative costs for an organization.
  4. Include as more that 10% of the budget for the activity, fees and other compensation inuring to the benefit of those engaged in the activity.
Administration
1. The corporation shall require that all fiscal agent requests are made to the corporation in writing. Such requests shall include a summary of the project, a statement as to who is to be served by the activity, how the corporation’s aid will be recognized and a budget of the anticipated income and expenditure.
2. All fiscal agent arrangements shall be evidenced by a fiscal agent contract which shall include indemnities and guarantees to protect the corporation.
3. The corporation shall administer all funds relative to fiscal agent through a separate bank account in the name of the corporation designated for the sole purpose of fiscal agent.
4. In choosing which projects the corporation shall consider these on a case by case basis having due regard to fiscal responsibility and diversity.
5. The corporation shall levy a $150 administration fee in respect of all fiscal agents where the budget project shall be up to $5,000. For projects where the budget shall be over $5,000 the administration fee shall be equivalent to 12.5% of the total budget.

Approved: by the Board 02.01.99
Amended 2/4/14