chapter budget why? how? show me!. chapter budget - why budget? establish priorities shows what...
TRANSCRIPT
CHAPTER BUDGET Why? How? Show me!
Chapter Budget - Why budget?• Establish priorities• Shows what you can afford• Communicates reimbursement plans
Chapter budget - How to create?• Determine categories• List actual for recent years• Project current year• Estimate budget year• Review by Executive Board
Budget – Categories (Income)INCOME
1 Dues (from Nat'l) (A-220, W-101) (excl. first year)
2 First Year Dues (from Nat'l) (A-220) ($15/member)
3 AFE Bonus Recruiting Fee (from Nat'l) (M-131,M131R)
4 Recruiting Fee (from Nat'l) (M-130)
5 Membership - Other (Includes Awards)
6 Federation Convention - Receipts
7 Raffle
8 Rest Stop Fund Raiser
9 Seminar Fund Leadership Support
10 Seminar Fund AFE Gift Support
11 Other Income / Donations
12 Alzheimers (flow thru from donors)
13 District Workshop
14 Service Center (flow thru from Fed)
15 Interest Earned
16
17
18
Budget – Categories (Expense)EXPENSES
1 National Convention - Delegates
2 National Convention - Chapter Advertising
3 Legislative Conference - Attendees
4 Gift Membership (to National)
5 Insurance (Chapter General Liability Policy)
6 Federation Convention/Leadership Trng
7 Federation Convention - Misc. Expenses
8 Federation Per Capita Tax
9 Board of Directors (rent, postage, etc.)
10 Officers
11 Awards Committee
12 Legislative Committee
13 Rest Stop Expenses
14 Website
15 Membership Committee
16 Program Committee
17 Public Relations Committee
18 Sunshine Committee
19 Newsletter (10/year) - Print, Prep, & Postage
20 Alzheimers (flow thru to NARFE Research)
21 District Workshop
22 Service Center (flow thru to volunteers)
23 Other Expenses / Fees
24
25
Budget – Actual (Income)
Budget – Actual (Expense)
Budget – Project current (Income)
Budget – Project current (Expense)
Budget – Estimate budget (Income)
Budget – Estimate budget (Expense)
Chapter budget – Now what?• Treasurer to compare actual to budget• Advise Executive Board• Revise if necessary
Record keeping• Excel Bank Account Ledger template• Excel Treasurer’s Report template• Alzheimer’s donations• NARFE PAC donations
Record keeping – Account Ledger
Record keeping – Treasurer’s Report
Record keeping – S/D Funds• “Special/Dedicated Fund”
• Alzheimer’s• NARFE-PAC
• Separately accounted for and disbursed by the treasurer or secretary/treasurer
• All such monies should be recorded and appropriately identified by fund
• in and out entries in identical amounts• Checks made payable directly to the Alzheimer’s
Association or to NARFE/FEEA are tax deductible• http://www.narfe.org/pdf/ChapterAlzManual.pdf
Record keeping – Alzheimer’s• All monies collected, other than for NARFE PAC, whether through the
national dues collection system, fundraising activities or other methods, must go through the chapter treasury. When collected, these monies become dedicated funds and must be used for the purpose intended or collected. Monies collected for different reasons must not be commingled. The chapter’s treasurer must maintain a separate account in the financial records for each of these types of funds. The chapter’s treasurer should use a chapter’s check to disburse funds from these accounts. Any questions regarding the disbursement of funds should be addressed to the National Treasurer ([email protected]).
• http://www.narfe.org/pdf/ChapterAlzManual.pdf
Record keeping – NARFE PAC• Q: Can we collect money for NARFEPAC at a chapter meeting or
federation convention?• A: Yes. Collecting money at chapter meetings and federation
conventions is encouraged. However, due to FEC rules, if the collection is made at a chapter or federation meeting, the individual contributions to NARFE-PAC cannot be consolidated and sent to NARFE Headquarters in the form of a chapter or federation account check. Personal checks payable to NARFE-PAC can be sent directly to the National Office, while cash contributions collected at a meeting can be consolidated into a single cashier’s check or money order. Accompanying the contributions must be a roster identifying the name of the event at which the contributions were made (chapter meeting), the date of the meeting, the name (and membership ID number if possible) of the donor and amount given, along with the total amount collected.
• http://www.narfe.org/pdf/5_PAC_FAQ.pdf
Record keeping – NARFE PAC• Q: Can a check to NARFE-PAC be written from a
chapter or federation checking account?• A: No. NARFE-PAC is governed by the rules and
regulations of the FEC. Checks from federation or chapter accounts may not be used to transmit NARFE-PAC contributions from chapter members or the chapter at large.
• There are additional rules to consider.• http://www.narfe.org/pdf/5_PAC_FAQ.pdf
Record keeping – National Bylaws• National Bylaws adopted at the 2012 National
Convention:• Section 3, item G “All funds derived from membership fees and
dues shall be used only to support Association objectives”. • Objectives are also outlined in the bylaws.
Record keeping – Filing 990-N• Must file tax return even if no income earned
• 990-N “Electronic Notice (e-Postcard) for Tax-Exempt Organizations” if gross receipts $50,000 or less for yearhttp://epostcard.form990.org
• 990 or 990-EZ “Return of Organization Exempt from Income Tax” if gross receipts > $50,000 average over three consecutive year (including tax year)
• 990T “Exempt Organization Business Income Tax Return” if income of $1,000 or more from activity substantially unrelated to the main purpose of your chapter (e.g. Advertising)
Record keeping – Filing 990-N
Record keeping – Filing 990-N
