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Planning For Excellence Budget & Finance. MEMBERSHIP ORIENTATION October 7-11, 2009 New Braunfels, TX. Jim Dambeck 2010 WCR Texas Treasurer GRI,ABR,CNHS,SRES,PMN jim@jimdambeck.com 832.687.2520 cell 713.538.1850 efax. - PowerPoint PPT Presentation
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Planning For ExcellencePlanning For ExcellenceBudget & FinanceBudget & Finance
MEMBERSHIP ORIENTATION
October 7-11, 2009
New Braunfels, TX
Jim Dambeck2010 WCR
Texas Treasurer GRI,ABR,CNHS,SRES,PMN
jim@jimdambeck.com832.687.2520 cell713.538.1850 efax
Carolyn Sutherlin2004 WCR
Texas PresidentABR,GRI,LTG,PMN
csutherlin@abilene.com 325.668.9962 cell 325.695.5313 fax
Planning For ExcellencePlanning For ExcellenceDollars & SenseDollars & Sense
Chapter Budgets
Treasurer Duties
Audits and Reserve Accounts
Legal Issues
Chapter BudgetChapter BudgetWhat is It?What is It?
The Forecast
of Financial Activity
over a period of time.
(1) F & B Committee
Researches History
& Future Needs
Budget Planning CycleBudget Planning Cycle
(2) F & B Develops Budget for
Upcoming Year
(3) Governing BoardApproves for
Upcoming Year
(4) Approved Budget Presented to
Chapter Members
(1) F & B CommitteeResearches History
& Future Needs
Chapter Budget Chapter Budget
WHY have a budget at all?
Gives Governing Board a roadmap to follow based on what has been budgeted for 2010
Puts your Chapter on the right track for planning a successful year
Budget ~ What’s Included?Budget ~ What’s Included? Revenue
Monies carried forward from previous year(s)
Membership Money (# of Nat’l Members x Local Dues)
Local Affiliate Memberships(# of Affiliates X Annual Affiliate Dues)
Strategic Partner Money (Annual / Monthly Partners)
Ways and Means Money (Money from Chapter Events)
Other Revenue:
Budget ~ What’s Included?Budget ~ What’s Included?
Expenses
Awards (Member of the Year, etc.)
Bank Service Charges
Discretionary Fund (Flowers, Memorials)
Education (MCE classes, PMN course)
Monthly Programs (Breakfast/Luncheon Expense)
Expenses
New Membership Orientation (Orientations, Pins, etc.)
Newsletters (E-blast / Design Cost)
Leadership Development (Officer Travel to National/State/Regional/District)
Leadership Orientation (National LO for PE, State MO for officers & committee chairs)
Website (Set-up, Monthly Fees)
Budget ~ What’s Included?Budget ~ What’s Included?
Budget ~ What’s Included?Budget ~ What’s Included?
ExpensesOffice Supplies
(Postage, Printing)
Professional Services (Insurance, CPA)
Strategic Initiatives (Education Scholarships, Funds for non-officer members to attend State/National meetings
Ways & Means Expenses
Other Expenses:
So…now So…now youyou are the are the TreasurerTreasurer
PARTICIPATE on your Chapter’s Budget Committee
Use 2009 Budget & YTD info as guide
Use LPPM as a guide (pages 41-43)
Have your Budget in place by Jan 1st 2010!
Duties of the TreasurerDuties of the Treasurer see page 29 LPPM
Treasurer is in charge of all funds and makes disbursements/reimbursements as directed by the President AND THE Governing Board.
Keeps all receipts and disbursement forms and provides reports at all regular meetings.
Coordinates with Finance & Budget Chair so that financial statements are reviewed monthly.
Completes a mid-year review with Finance & Budget and makes recommendations to the Board if necessary to end the year BALANCED.
Duties of the TreasurerDuties of the Treasurer
Have a clearly defined Policy for reimbursable expenses in your Standing Rules
Give reimbursement for budgeted/approved expenditures only (stay within the budget)
Have a deadline for submitting receipts
Use an Expense Request Form
Keep Records in case of an IRS audit
Handling Reimbursements
Duties of the TreasurerDuties of the Treasurer
Asks questions about any discrepancy between budgeted and actual expenses.
Submits the financial accounts of the chapter to a CPA or bookkeeper to file with IRS .
Gives receipts for collection of cash, keeps copy of transaction for Chapter’s permanent records.
Provides records to chapter Audit Committee for annual review.
Duties of the Treasurer Duties of the Treasurer Fiduciary ObligationFiduciary Obligation
The legal requirement to care for another’s assets as you would your own . . .
to provide meaningful oversight!
Duties of the Treasurer Duties of the Treasurer Meaningful OversightMeaningful Oversight
Meaningful oversight involves more than an occasional look
at the budget. It means to
your Chapter’s financials to remain balanced!
constantly monitor
Audits and ReservesAudits and Reserves
President appoints Audit Committee at the next to the last meeting of the elective year.
Audit is Check and Balance System that validates information and protects both Treasurer and Chapter.
Audit Committee presents report at the first meeting of the next year.
Each Chapter should seek to maximize financial resources to best advantage and generate systems to protect member funds.
Chapter Legal IssuesChapter Legal Issues page 137 LPPM
Every chapter should have a Tax ID number and the letter stating the exempt status.
Every chapter must file an information return with the IRS. - Form 990 (gross income or assets $25,000 or more) or form 990N “Epostcard” (less than $25,000) For more information click here.
Filing deadline is May 15th.
Take your Chapter to New Heights
&
a Well Planned
2010!
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