Asha for EducationSecond National Conference

Session III - Finance

Sunday, May 30, 1999

Objectives

• Share Experiences & Learn

• Discuss Good Booking Practices

Ground Rules

• Value Everyone’s Opinion

• One Conversation at a Time

• Don’t Criticize Any Idea

• Keep Time - It is Precious!

Roles

• Discussion - All

• Time Keeper - Amy

• Minutes Taker - ?

Agenda• Receipt Policies (5 Min)

• Record Keeping (5 Min)

• Transfer of Treasurer’s Functions (2 Min)

• Tax Deductible Services (5 Min)

• Finance Website ? (3 Min)

• Q & A (5 Min)

Receipt Policies (5 Min)• Who Signs - Treasurer

• Who Gets - All

• Key Fields– Total Received (e.g. $100 by Cash for 1 Calendar & $90 donation)

– Amount Deductible ($90 for Donation)

– Benefit Received ($10 for Mug)

• Donation > $100, Send a Thank You Note

• Send (Receipt/Thank You) within 30 days

• Date of Donation - Date on the check

Record Keeping (5 Min)• Who Should Keep - Chapter Treasurer

• What to Keep– Name, Amount, Check #, Check Date, Reason, Receipt #

• How to Keep– Use a Tool Such as Excel, Access, Keep a Back-up

• Reporting– An interim report once every quarter– A final annual report by March 15– Send report to Asha Treasurer

Record Keeping (Contd.)• Reporting Format

– Revenues• All Donations (list individual donors (with address) > 1 K)• Investment Income (bank interest etc.)• Special Fundraising Events• Sale of Inventory (use cash basis - expense the entire cost at time of procurement)• Any other revenue (describe)

– Expenses• Grants Paid (List individually including purpose and addresses)• Priting, publications, postage, banking Expenses • Any other expenses (describe)

– Excess or Deficit (Revenue - Expenses)– Plus Opening Balance at Start of the Year– Ending Balance

Transfer of Treasurer’s Functions (2 Min)

• What to Transfer - Records, Cash, Bank Authorisations (if applicable)

• Responsibility of incoming treasurer to ensure accuracy of everything transferred

• Send an E-Mail to Asha Treasurer

Tax Deductible Services (5 Min)

• For Donors– Cash Donations– Stock (Market Value at the Time of Conversion to

Cash)– Equipment (Computers etc - Market Value)– Use date on check as date of donation

• For Asha– Sales tax exemption (This is under review)

Finance Website (2 Min)• What Will be Useful?

– FAQ– Financial Report Format– Format of receipts/thank-you letter– Asha wide banking system and procedures

Tasks From the Session

• ?

• ?

• ?

Q?A!

Thank You !