Grant, Restricted Fund, Gift Card, and Cash-Equivalent Controls Policy

Heritage & Opportunity Alliance, Inc.

Effective date: Upon Board Adoption
Approved by: Board of Directors
Applies to: Directors, officers, committees, advisory members, volunteers, employees, contractors, partners, and program participants as applicable

Purpose

This Policy protects grants, restricted funds, gift cards, prepaid cards, cash equivalents, and other controlled value items managed by Heritage & Opportunity Alliance, Inc..

Scope

This Policy applies to grants, restricted donations, sponsorship restrictions, program-restricted funds, fiscal sponsorship funds, gift cards, prepaid cards, fuel cards, digital cash equivalents, vouchers, stipends, emergency assistance, participant support, and similar items.

Restricted Fund Tracking

Restricted funds shall be recorded by source, restriction, budget category, amount received, amount spent, balance, approval authority, reporting deadline, and supporting documents. Restricted funds may not be borrowed, redirected, or used for unrelated purposes without proper authority.

Grant Compliance

Grant funds must be spent only on allowable expenses under the grant agreement, approved budget, application, award notice, and funder rules. Grant files shall include application, award letter, agreement, budget, amendments, reporting deadlines, correspondence, receipts, invoices, approvals, outputs, outcomes, and final reports.

Gift Card and Cash-Equivalent Controls

Gift cards, prepaid cards, fuel cards, digital cash equivalents, vouchers, or similar items must be treated like cash. They must be logged, secured, assigned, distributed with documentation, reconciled, and reviewed. A gift card log shall include card type, serial or identifying number if available, value, funding source, restriction, purchaser, custodian, recipient or purpose, date issued, recipient signature when practical, and remaining balance if known.

Custody and Storage

Gift cards and cash equivalents shall be stored securely and controlled by the Treasurer or Board-authorized custodian. Access shall be limited. Lost, stolen, or missing items must be reported immediately.

Distribution

Distribution of gift cards or cash equivalents must be tied to an approved program purpose, participant support purpose, youth stipend, volunteer reimbursement, emergency support, or grant-approved activity. Recipients may be required to sign acknowledgment forms, subject to privacy and safety considerations.

Prohibited Uses

Gift cards and cash equivalents may not be used for personal advances, undocumented bonuses, political contributions, alcohol, tobacco, illegal items, unauthorized personal expenses, or expenses prohibited by funders.

Records

The Secretary, Treasurer, or other Board-authorized records officer shall maintain records created under this Policy according to the Records Retention and Document Control Policy. Records may include approvals, disclosures, invoices, receipts, reports, correspondence, minutes, incident reports, releases, agreements, restricted-fund logs, or other supporting documents.

Violations

Violations of this Policy may result in corrective action, reassignment, removal from a committee or volunteer role, termination of a contract, repayment, report to the Board, or other action permitted by law and organizational policy. Retaliation against a person who raises a good-faith concern is prohibited.

Review and Amendment

This Policy may be reviewed at least annually and may be amended by the Board of Directors. The Board may adopt more detailed procedures, forms, checklists, and approval schedules consistent with this Policy.

Board Adoption

This Policy is adopted by the Board of Directors and remains in effect until amended, replaced, or rescinded by the Board.

Policy 014

The webpage above presents the complete policy text for accessible reading. The official PDF is retained for printing and formal records.