january 23, 2021 treasurer training...scv section officer training online january 23, 2021 treasurer...
TRANSCRIPT
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SCV Section Officer Training
OnlineJanuary 23, 2021
TreasurerTreasurerTraining
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SCV Section Finance Committee
Sachin Desai2021 Section Treasurer
Wenbo Yin2019 Section Treasurer
Ed Aoki
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WELCOMETREASURERS
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WITH
TREASURERS
GREAT POWER COMES
GREAT RESPONSIBILITIES
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Key Officer Role
Central For All Activities
Fiscal Control
POWER
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Financial StrategyBudget ResponsibilityYear End ReportYear End Report
RESPONSIBILITY
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ONLY VOLUNTEER POSITIONWITH LEGAL CONSEQUENCES
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IT’S NOT THAT SCARY!!!
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AS NEW TREASURER- Send Introductory Emails to Your Section Officers- Ask Old Treasurer For All Paperwork- Sign “Add Signer Card” For CBRS Credit Cards- Sign non CBRS Bank Specific “Signatory Card”
IMMEDIATE TASKS
- Sign non CBRS Bank Specific “Signatory Card”
Get Ready To File By
Jan 31th | 2021
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TRANSITION DETAILS
OUTGOING TREASURER
• File Yearly Reports by Jan 31th, 2021
INCOMING TREASURER
• File CBRS Signatory Card with HQ• File Yearly Reports by Jan 31th, 2021• Transfer Records To New Treasurer
• Checks• Check Register• Banking Supplies
• CBRS Deposit Stamp• CBRS Deposit Slips• CBRS Deposit Envelopes
• Provide 1099/W9 To Section
• File CBRS Signatory Card with HQ• Request Credit Card• Plan and Get Yearly Budget Approved• Ensure Two Signatories for Account
• Local account: if your account bears the name of Thomas Lynch, please request to change to David Galicki
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YOUR CHAPTER ALLY
Meeting MinutesNew Officer Report
SECRETARY
New Officer ReportChapter Reports
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TREASURER GUIDELINES
DO NOT write checks to yourself for your reimbursement; have Chair assign one to you
DO enter data on memo line for later reference
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TREASURER GUIDELINES
DO obtain a W-9 from an Independent Contractor or Sole Proprietorship before paying; it’s difficult to obtain later.
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TREASURER GUIDELINES
DO keep ALL RECEIPTS and INVOICES. Preferably digital copies. Auditors require this.
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TREASURER GUIDELINES
DO keep records of meeting minutes, maintain contracts, W-9s and MOU (memorandum of understanding) for large Conferences and Symposiums
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TREASURER GUIDELINES
NOTE that large Sections, Conferences And SymposiumsWILL BE AUDITED
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TREASURER GUIDELINES
DO ensure correct L31 entry and records since it translates to Rebate Monies ($$$) … EVEN THOUGH… this is the primary responsibility of the Secretaryresponsibility of the Secretary
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DO NOT sign a check payable to yourself. Ask your Chair or another ExCom member with signing privilegeDO keep all receipts (preferably digitally) for year’s events, and hand off to the next treasurerDO keep record of ExCom meeting minutes, contracts,
TREASURER GUIDELINES(recap)
DO keep record of ExCom meeting minutes, contracts, and MOUs (if any) for audit purpose for large transactions (conference, symposium, etc)DO ensure L31 reports are correctly reported – even though it is the Secretary’s responsibility, since it impacts chapter finances
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Funding Resources
CHAPTER PROJECT SUPPORT
STUDENTREPORT
SUPPORT
BRIDGELOANS
EQUIPMENTLOANS
REGION 6 AND
PACE
SOCIETYLEVEL
SUPPORT
STUDENTSERVICESSUPPORT
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Financial Reporting
IS A
PROCESSPROCESSTreasurer Secretary
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What Why HowIEEE Technical Meeting
Member AttendeesUsed In Rebate
CalculationsMaintain Accurate Sign Up
Sheets At Meetings
Min. 6 Technical Meetings Per year
Used In BonusCalculations
Greater The Chapter Activity, Greater The
vTools – Events Reporting and $$
Per year6 Technical Meetings Per Year for bonus
Calculations Activity, Greater The Benefit
Meeting Entries Track “Dead or Alive” Chapter Status – Less Than
2 Technical Meetings (3 Years In Row)
Ensure Secretary Makes vTool Entries
Timely Meeting Entries Only Way For Section Treasurer To Calculate
Aforementioned Rebates And Bonuses
Ensure Secretary Makes vTool Entries
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CBRS vs. LOCAL BANKS
CBRSMakes Your Life
EASY SIGNATORY CHANGE via vTools and email (when officers change)
NO Bank Statements or Balance Required
Banking Transactions Via Email
Life Easier
CBRS Credit Card Generation on Request
NO Bank Signature Card or Special IEEE HQ Signature Required
Knowledgeable and Responsive HQ Staff
Section Officers Can Help on Complex Transactions
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DEADLINES
Early Jan
1099 Forms
Taxable Payments to Individuals for Service and Goods
Yearly Reports for previous year
Jan 31th
Yearly Reports for previous year
Delivered to Section Treasurer
Nov 31th
Preliminary Yearly Reports for current year
Delivered to Section Treasurer
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Bank Statements+
Images of Receipts+
Images of Invoices+
Images of Contracts, Agreements
BankUploadTemplate
Financial Reporting
Preparation
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Bank Update Template [1]
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Older Bank Update Template [2]
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Bank Update Template [3]
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Ban
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pd
ate
Tem
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[4]
IEEE Chart of Accounts Embedded in the IEEE NetSuite Bank Upload Template, “COA Descriptions” Newer version: “5.31”
Ban
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pd
ate
Tem
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BANK UPDATE TEMPLATE GUIDELINES
SINGLE BUTemplate FOR ENTIRE YEAR (Less mistakes)
ENSURE CORRECT ACCOUNT NUMBER
NO EMPTY CELLS BETWEEN TWO LINES NO EMPTY CELLS BETWEEN TWO LINES (NetSuite Limitation)
LOCAL ACCOUNTS NEED SIGNATURE CARD (Trip To Local Bank)
NO BRACKETS FOR NEGATIVE NUMBERS (Use Negative Sign)
DO NOT USE RED FOR NEGATIVE NUMBERS (NetSuite Limitation)
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Q & AQ & A