3.2 Internal Control Policies and Procedures

Policy and Procedure 3.2 - Internal Control

1. Conflict of Interest - See Conflict of Interest Policy

2. Lines of Authority

   1. Policy: The Board has the authority to approve fiscal policies and will be required to review them annually. The Executive Director has the authority to approve expenses in accordance with the approved budget.

3. Segregation of Duties

   1. Policy: The organization’s financial duties are distributed among multiple people to help ensure protection from fraud and error. The distribution of duties aims for maximum protection of the organization’s assets while also considering efficiency of operations.

4. Physical Security

   1. Policy: The organization maintains physical security of its assets to ensure that only people who are authorized have physical or indirect access to money and other valuable property.

This Policy was approved by the Board of Directors of ESIP on October 17, 2017.