Council of the Southern Mountains

            COUNCIL OF THE SOUTHERN MOUNTAINS

                             FINANCE OFFICE

 

The Council of the Southern Mountains’ Finance Office utilizes a comprehensive financial analysis and report retrieval system through the use of Mas90 software. This accounting software has made it possible to track different sources of funding throughout the agency and within each program area. The finance office is located on the 3rd floor of the CSM Central Office in Keystone, WV.

All sources of funding awarded to the Council of the Southern Mountains are handled within CSM’s Finance Office. The agency complies with annual A-133 audit requirements for funding sources. Currently, there is two finance office staff, Accounts Payable Specialist, Patricia Vaughn and Director of Finance, Brenda Melnik.

During the 2006 year, changes have occurred within the Finance Office as a result of the sale of the building in Wilcoe. This finance based decision to liquidate assets, has allowed us to ease the burden of cash flow due to the reduction of over sixty percent of our liabilities. We were able to eliminate the Backyard BBQ loan payment to the bank, eliminate an outstanding balance with PE.I.A (the CSM health insurance provider), eliminate all but $3,000.00 to the Head Start Attorney, and eliminate $41,147.86 of F.D.I.C balance due to the programs due to the failure of the First National Bank of Keystone in which the Council lost substantial funds.

The agency still needs to generate unrestricted funds but the Council of the Southern Mountains is financially stronger than one year ago. This statement is verified by the 2005 Audit that was the best financial review this agency has received in many years and the initiation of new revenue generating programs, i.e., Right From The Start, Workforce West Virginia Welch building maintenance contract and Title XIX Waiver. Our 2006 agency audit is taking place at this writing and we are confident that the financial picture of the Council will continue to improve.


           COUNCIL OF THE SOUTHERN MOUNTAINS

   SOURCES OF FUNDING AS OF NOVEMBER 1, 2006



Corporation for National & Community Service $433,058.00
Foster Grandparent Program $323,563
Retired Senior Volunteer Program $109,495

State of West Virginia, Office of Economic Opportunity $510,397.00
CSBG $277,187
Weatherization $232,084
LIEAP $ 126

WV Department of Education
Family Day Care $123,845.00

TOTAL AGENCY FUNDING $1,067,300.00

The above is set funding and does not include any Right From The Start, Title XIX Waiver, Individual Training Account dollars or the Welch Workforce building maintenance contract fees which are our unrestricted dollars. A more comprehensive report of these revenues will be provided as billing starts.