United Way of Olmsted County maintains a fiscal responsibility policy requiring all community partners applying for or receiving United Way funds to submit financial documentation. This policy is subject to change.
Effective as of July 21, 2020:
1. Applicants and partners receiving Community Fund awards required by Minnesota state law to conduct an annual independently prepared financial audit (i.e. those with total revenues in excess of $750,000) shall deliver said audit documents to the United Way of Olmsted County (UWOC) immediately upon receipt.
2A. Applicants and partners receiving Community Fund awards, but not required under Minnesota state law to conduct an annual independent financial audit, shall deliver to UWOC, a current financial audit, independently prepared by an outside accounting firm and completed within the past three program agency fiscal periods. During non-independent audit years, partners must submit to UWOC a financial compilation consistent with GAAP format OR
2B. Applicants and partners receiving Community Fund awards, but not required under Minnesota state law to conduct an annual independent financial audit, shall deliver to UWOC "Agreed Upon Procedures" conducted by an independent firm for each year covered by the partnership agreement.
3. Applicants and partners for one-time Community Fund awards of up to $20,000 are required to submit a program budget and most recent annual financial statement with application.