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One or more organization-operated programs or activities that have a common general objective and deploy the organization's material and human resources in a planned and systematic manner. An organization that publicly promotes or identifies itself in writing as offering a service, is licensed to deliver a service, assigns personnel and/or space to a service, or allocates financial resources to a service is considered to offer that service.		  
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  MANAGEMENT

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Financial Education and Counseling Services
  
Private Org Public Agency  

FEC 9: Responsible Management of Client Funds

 
The organization conducts its fiscal affairs responsibly.
NA The organization does not provide debt management plans.

FEC 9.01

 
The organization makes initial and daily deposits of client funds in a separate account with a federally insured financial institution.
Interpretation: 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.

FEC 9.02

 

The organization manages the following in accordance with state and federal laws and/or banking regulations:

  1. credit balances on accounts;
  2. uncashed checks;
  3. funds left in client deposit accounts;
  4. trust account reconciliation; and
  5. any other client funds.
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PURPOSE: Clients who receive Financial Education and Counseling services learn to solve financial problems and gain personal financial management skills.
 
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