Internal Controls for Special Events

Relief associations often hold special events or fundraisers during the summer. Written policies and procedures documenting internal controls for handling funds become particularly important and help people working at events to understand their role and responsibilities. By formally approving these policies and procedures the relief association’s board of trustees can emphasize their importance and authority.

The documentation should:

• Describe procedures as they are intended to be performed;
• Indicate who is responsible for performing each procedure; and
• Explain the design and purpose of control-related procedures.

Answers to frequently asked questions regarding internal controls and relief association fundraising can be found on the OSA website.

Published last in the June 2024 Pension Newsletter