Finance > Participant Finances Management
Authorised by Finance Manager
Revised Date: 10 April 2017
•Participants who receive individual funding, such as Individual Support Packages (ISP), have a cost centre/job allocated to them. All income and expenses are recorded in this cost centre.
•Any grant monies that are not expended by participants, are held in reserve in Unexpended Revenue and are reported on the Balance Sheet as a liability for Kyeema.
•At the end of each financial year expenditure for that year is reported to the Department of Health & Human Services (DHHS) as per the acquittal form, supplied by DHHS. Unspent funds for that year will be recouped by DHHS, with participants permitted to keep $1500, or 5% whichever is the greater, to be carried forward to the next year.
•Monthly Profit and Loss Statements can be provided for each individual participant with details of income and expenditure as requested.
Participants Financial Management Procedure