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The Dibble Institute Fiscal Policy

The Dibble Institute
Fiscal Policies
Approved by the Board of Directors

The Executive Director is responsible for The Dibble Institute’s (“Institute”) day-to-day financial management.

The Board is responsible for setting policies around fiscal management and internal controls. 

The bookkeeping, accounting, and tax preparation functions for Dibble are performed by a Certified Financial Accounting firm (“CPA”) selected by the Board.

Dibble’s fiscal year is from October 1 to September 30.

Accounting Procedures

The accounting procedures used by The Dibble Institute shall conform to Generally Accepted Accounting Principles (“GAAP”) to ensure accuracy of information and compliance with external standards.

Basis of Accounting

Dibble uses the accrual basis of accounting. 

Bank Reconciliations

All bank statements will be opened and reviewed in a timely manner. Bank reconciliation by the CPA and approval by the ED will occur within 30 days of the close of the month.

Internal Controls

The Board approves fiscal policies. The policy will be reviewed no less frequently than every three years or after a major change within the organization.  The Executive Director (“ED”) or the ED’s staff designee approves expenses in accordance with the approved budget. Employees of Dibble must have a clean credit report prior to gaining authority to sign checks and make other disbursements. 

Segregation of Duties

Dibble’s financial duties are distributed among multiple people to help ensure protection from fraud and error. The distribution of duties aims for maximum protection of Dibble’s assets while also considering efficiency of operations.  For instance:

Physical Security

Dibble maintains physical security of its assets to ensure that only people who are authorized have physical or indirect access to money and other valuable property, including legally binding Agreements. 

Bank checks are stored with the ED and with the CPA. Client payments by check are mailed to the CPA. Deposits are made weekly. Agreements are stored with the ED and with Dibble counsel.

Budgeting Process

Dibble’s annual budget is prepared and approved annually. The budget is prepared by the ED in conjunction with staff input. The budget is to be approved by the Board of Directors prior to the start of each fiscal year. The budget is revised during the year only if approved by the Board of Directors.

The Directors reviews a quarterly report showing budget to actual figures. The ED presents a detailed variance report at each board meeting of amounts over $5,000 or a noteworthy anomaly. 

Internal Financial Reports

The CPA prepares regular financial reports for quarterly board meetings. 


The Board, in consultation with the ED and the CPA, determines if an audit is required. An audit may also be required as a condition of funding.

Tax Compliance

The CPA completes all federal and state tax returns and other required filings on behalf of Dibble. 

Revenue & Accounts Receivable

Invoice Preparation

Invoices are prepared by Dibble staff and sent to clients once product sales or trainings are confirmed.


Revenue from E-Commerce (Paypal, etc.) is deposited automatically into Dibble’s Deposit checking account at Wells Fargo Bank (“Wells”). Only the ED, approved staff, and the CPA have access to the Wells accounts. The CPA’s access is view only.


The CPA makes Dibble deposits at least weekly.

Expense & Accounts Payable


Dibble contracts with a Professional Employee Organization (“PEO”) for full time staff and a contingent staffing company for part-time and contract staff to manage payroll, payroll reporting, and benefits. The ED monitors those relationships. 

The ED approves all payroll and payrate changes in writing.  

Payroll Preparation & Approval

Dibble team managers (or the ED in their absence) approve their direct reports’ time sheets. The CPA prepares payroll for staff in the PEO system. 

Purchases & Procurement

Any one-time expenditure in excess of $10,000 for the purchase of a single item should have bids from three (3) suppliers if possible. These bids will be reviewed by the Director of Programs and the bid award must be specifically approved in advance by the ED and Director of Programs. A Purchase Order will be generated for any purchase over $2,500.

Costs for ongoing purchases of printing will be reviewed annually by staff.

Independent Contractors

Dibble contracts with authors as Independent Contractors to write Dibble curricula. The ED has the authority to establish those Agreements. The ED is also responsible for verifying that a person is appropriately classified as an independent contractor or an employee. 

Invoice Approval & Processing

All invoices must be approved by the manager of the team for which the expense was incurred. Approved invoices will be paid in a timely manner. Payments will only be process upon receipt of an invoice. 

Checks in excess of $25,000 will be co-signed by the Executive Director or one designated staff person plus the Board Secretary or Board Treasurer .

Asset Management

Cash Management and Investments

Dibble’s operating reserves as well as the funds from the bequest of Charlie Dibble are held by the Redlands Community Foundation (“RCF”). The ED monitors that relationship. The Board receives quarterly investment reports from the RCF.  The Board establishes Dibble’s investment risk posture.

Operating Reserve

The target minimum operating reserve fund for Dibble is three (3) months of average operating costs. The calculation of average monthly operating costs includes all recurring, predictable expenses such as salaries and benefits, occupancy, office, travel, program, and ongoing professional services.