FEC 9: Responsible Management of Client Funds
The organization conducts its fiscal affairs responsibly.
NA The organization does not provide debt management plans.
The organization makes initial and daily deposits of client funds in a separate account with a federally insured financial institution.
Deposits of client funds should be made daily, unless they are not identified. If they are not identified, all reasonable means to identify them must be undertaken. Additionally, the client’s funds should be deposited into an account identified as in trust for the client, i.e., Client Trust Account.
The organization manages the following in accordance with state and federal laws and/or banking regulations:
- credit balances on accounts;
- uncashed checks;
- funds left in client deposit accounts;
- trust account reconciliation; and
- any other client funds.