Emergency Operating Funds
How will your agency obtain the needed emergency operating funds to recover and resume business?Your Plan should:
- Identify procedures for accessing needed operating funds in the event of the types of disasters likely to affect your agency. Consider providing access to agency funds at unusual times. Who will have the authority to access funds? How will emergency authorization occur?
- What if the sources of operating funds are also affected by the disaster? Provide access to several sources of funds. Consider several locations and/or sources of funds. Cash on hand? Checking accounts? Credit cards? ATM? When will the funds be available? What about security?
- Provide a method for prompt reimbursement of personal funds spent coping with an emergency situation.
- Work with the State Controller´s Division, Treasury, Secretary of State, and other agencies to determine the most appropriate methods for obtaining, disbursing, and accounting for emergency operating funds. And, don´t forget about accounting and documentation rules relating to federal funding.
- Provide a method to identify all damage-related costs. This may involve special processes to identify purchases, repair work, etc., that qualify as reimbursable expenses under the Self-Insurance Policy or other commercial coverage. Determine how your claims for property damage will be processed in advance of a disaster. Ensure that your agency’s claims can be filed with Risk Management quickly so they may be adjusted as soon as possible. Keep this information with the plan off-site. If it is filed in a building that cannot be accessed, it will not be helpful.