By the end of this lesson, you will be able to…
- Understand the key elements of an effective financial management system.
- Identify expenditures that are claimed as operating costs.
- Identify expenditures that are claimed as administrative costs.
- Recognize the limites and conditions that impact allowable costs.
- Understand how claims are compiled, submitted and paid.
- Clarify what is meant by “nonprofit food service program”.
- Understand how a nonprofit food service program is determined.
- Identify the records required to document the nonprofit food service program.
- Understand what to expect if the nonprofit food service program can’t be documented.