1. North Carolina Chief 101 Financial Issues

2. Chief 101 Class This class consists of several programs that together will satisfy the 9s inspection criteria as specified by the North Carolina Administrative Code. The primary objective of the course is to inform current and future chief officers of the various aspects and complexities surrounding the operations and organization of North Carolina fire departments.

3. Program Objectives ● Identify the different legal structures fire departments use for incorporation and implications. ● Describe the law regarding tax exemption. ● Identify payroll issues for departments. ● Identify principles for financial health for fire departments and structures to implement.

4. Are You From A …… ● Municipal department? ● Private corporation?

5. Municipal Department ● Under town or city governance ● No board of directors ● Most accounting & bookkeeping functions handled by municipality

6. Private Corporation ● Legal checkup ● Are you really tax-exempt? ● Which non-profit type to choose? –501(c)(3) –501(c)(4) ● IRS filings ● Sales / Fuel tax refunds

7. Payroll Issues ● The slippery slope of compliance: –Who is an employee? –IRS rules on compensating volunteers. –Do I file W-2s? –What the heck is FLSA? –Working & volunteering for the same department.

8. Financial Structure ● Independence of treasurer ● Dual signatures ● Fidelity bonds ● Financial reporting ● Relief funds

9. Financial Health ● Budget ● Long range plan ● Building and equipment financing