Purpose
Neuromatch’s mission is aligned with transparency and access to information. For this reason, it is critical to us to go above and beyond in ensuring that our financial records are not just visible, but also understandable by those inspecting them. Similarly, for grants and donations we receive, we want to make it clear exactly what this grant money was spent on and be able to provide a report of expenditure, even when it isn’t a grant or sponsorship that requires reporting. This helps keep us accountable, ensure planned spending, and allows us to show the impact that every dollar makes.
References
Expenditure Logging
We use an accounting software that allows us to log every transaction to either our general expenditures or to a specific grant. All grant money is spent in this way. That is, every grant we receive is billed against until it is spent. In this way, we build a report of what every grant dollar was used for through our accounting records.
Control of Accounts
To help ensure that financial records are correct and controlled, Neuromatch always ensures that at least three people (and our accounting firm) have access to our financial accounts so that activity is fully visible, reducing the chance of corrupt behavior. That said, we also ensure that only these roles have access to these accounts to prevent widespread access to financial control in the organization. Access is controlled via personal account username and password with user permission control.
These financial accounts include our accounting software, visibility of our coding and billing assignments, and access to our bank account.
The roles with access to these accounts are the President, Treasurer, and CEO.
Grant Reporting
At the completion of any grant(when expenses have been fully spent or when the time period of the grant is complete) over $15,000, and for reportable grants, Neuromatch will prepare a grant report. This grant report will contain the line item expenses the grant was spent on and a narrative review of their impact. These reports will be made available to the granting body and saved on our server.