may 2015 - agaaustin.org newsletter 2015-05.pdf · minutes and treasurer report aga austin chapter...
TRANSCRIPT
Greetings AGA Austin Chapter Members and Friends, It has been a privilege to serve as your FY 2015 AGA President. This year has been a great year full of new and engaging speakers, well-attended CPE luncheons, rewarding community service events, and more importantly, a strong and consistent membership. AGA Community Service has been a definite success this year and something we should all be very proud of. Your dedication and generosity are inspiring. My heart was especially full to see the members of our chapter participate in the December Angel Tree event. Your gifts and donations brought holiday cheer to kids whose parents are incarcerated and I want to thank you all for that experience. As summer approaches, we will plan for the upcoming year by assessing our current goals and setting our sights on the next twelve months. I want to thank all of you for your continued support of AGA through membership and participation. I hope that we’ve met your expectations, as you as a membership have certainly met mine. As we go into the summer break, the board will continue to plan for FY 2016. In order to ensure continued growth of the chapter, we would greatly appreciate your candid feedback through our end-of-the-year survey. For our final CPE event of the fiscal year, Patty Hamm from the University of Texas at Austin will present “Applied Research Laboratories – Organizational Structure, Work, Regulations and Relationship to the University of Texas." The event will be held on May 14, 2015, at 11:30 am at the Flying Saucer Draught Emporium. During this event, we will also hold FY 2016 AGA Austin Executive Board elections. Remember, it’s never too late to volunteer to be a board member. Hope to see you there! Last, but definitely not least, I would like to thank my FY 2015 Executive Board for all of your help and support. Being a volunteer on top of work and family is no easy feat, but each and every one of you does it with such grace. So until September, have a blessed, eventful and safe summer! Tennyle L. Walker President, AGA Austin Chapter
PRESIDENT MESSAGE
UPCOMING EVENTS Life at Applied Research Laboratories (ARL)
OnMay14th,PattyHamm,AssistantDirectorforAdministrativeServicesofARLwilldiscusstheorganizationalstructure,work,regulations,relationshiptotheUniversityofTexas.PattyHammanativetoAustinhasadiversebackgroundinauditingandaccounting.Date/Time: Thursday,May14,2015‐11:30am‐1:00pmLocation: FlyingSaucerintheTriangle815W47thSt#100,Austin,TX78705CPECredit: 1HourRegistration: http://www.agaaustin.org/aga‐austin‐reg.html
Capitol Topics May 2015
EXECUTIVE COMMITTEE
President Tennyle Walker
Interim President-Elect Bhakti Patel
Immediate Past President
Paul Morris [email protected]
Secretary
Autumn Bellfield [email protected]
Treasurer
Lorna Schwimmer [email protected]
Research Chair
Debi Weyer [email protected]
Education/Programs Committee
Ben Lyons, Chair [email protected]
Paul Morris, Co-Chair
Communications Committee Piotr Bartkow
Community Service Committee Priscilla Suggs
Membership Committee Vacant
CPE Events Committee Patty Aguilera, Co-Chair
Adana Barry, Co-Chair [email protected]
Chapter Historian
Sharita Jefferson [email protected]
Webmaster Eddie Chan
Regional VP Helene Baker
AGA Aus n Chapter PO Box 12625 Aus n Texas 78711‐2625 www.AGAAus n.Org
Minutes and Treasurer Report
AGAAustinChapterApril16,2015
Keypointsdiscussed: DetailsontheMayCPEevent. Voting process for Executive Committee
positions Transition of the President and the impact
onthenewsletter. Need for a independent auditor to audit
AGAAustinCharter’s inancialstatements. Treasurer report will be produced in
February. Scheduling the Strategic Planning Meeting
fortheupcomingyear.
Membership March & April Anniversaries
Congratulations to the followingmemberswhohave reached their anniversary milestone inMayof2015. 1YEAR:AnthonyJ.Infantini,CGFMMarcD.Kennedy5YEARS:JuanitaJohnson‐Cooley10YEARS:KipD.Wilson,CGFM
Treasurer’s Report For the period ending 03/31/15
Beginning Bank Balance 2/28/2015 $6,379.66 Revenue: 3/27/2015 ACH - Texas Comptroller $25.00 3/19/2015 Cash Deposit $20.00 3/19/2015 Checks Deposit $110.00 3/13/2015 ACH Square Luncheon $141.01 3/12/2015 ACH Square Luncheon $24.31 3/11/2015 ACH Square Luncheon $38.90 3/4/2015 ACH Square Luncheon $38.90 3/3/2015 ACH Square Luncheon $155.59 3/1/2015 Dividend through February 28, 2015 $0.51 Total Revenue $554.22 . Funds Available $6,933.88 Expenditures: Date 3/13/2015 March Luncheon - Flying Saucer $549.38 Total Expenditures $549.38 Ending Bank Balance 3/31/15 $6,384.50 Check Register Reconciliation: Ending Bank Balance 3/31/15 $6,384.50 Outstanding Checks: Outstanding Checks: Date Check No. Description Total Outstanding Checks $0.00 Outstanding Deposits: Date Description Total Outstanding Deposits $0.00 Adjusted Ending Bank Balance @ 3/31/15 $6,384.50 Total Chapter Cash Available Per Check Register @ 3/31/15 $6,384.50 Cash On Hand: CU Min Savings Balance $5.00 Luncheon Bank $40.00
Highlights
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What: Bevo Bash Organization: University of Texas at Austin - Elementary School Where: 2200 East 6th Street | Austin, TX 78702 When: Fri May 08, 2015, 05:00 PM - 09:00 PM UT at Austin Elementary School is looking for volunteers to help out at the 2nd Annual Bevo Bash carnival and silent Austin at UT Elementary School. Volunteers should identify what he/she is interested in doing at the event: https://www.facebook.com/events/1411459619156905/ . Food (casa Chapala) Face Painting Silent Auction Tickets Hook 'Em Flipside Book Walk Bounce Houses Balloons Bevo Fan Floaters. Sign up at: https://docs.google.com/forms/d/18Y4UHdgXgcZXe6FsS8h9iXTei5s5Z_Xt1m8my6AD0y0/viewform?c=0&w=1 .
What: Help kids 0-3 years old have a fun day Organization: Easter Seals of Central Texas Where: 1611 Headway Circle | Building 2 | Austin, TX 78754 When: Friday May 08, 2015, 09:00 AM - 01:00 PM Do you want help give Easter Seals Central Texas children and their parents a day of fun and activities? Easter Seals is looking for volunteers who have experience working with children for our monthly Play Group for ages 0-3 years old. This volunteer opportunity will be at our Easter Seals Central Texas headquarters. Volunteers can help one time or ongoing the last Friday of each month. Responsibilities include: Need volunteers to help with setting up the play group area. Welcome families and help children and parents with the planned activity Assist kids in engaging in free play time together Participate in clean-up of the play space with children, parents and other volunteers.
What: Volunteer at the Austin City Olympics Organization: It's Time Texas Where: 515 S Pleasant Valley Rd| Field 5 | Austin, TX 78741 When: Saturday May 09, 2015, 08:30 AM - 02:30 PM Sign up at: https://www.givepulse.com/event/11215-Austi-City-Olympics to assist with activity set-up and take-down and assist with implementing the following
activities: Hula Hoop/Jump Rope Challenge, QB Football Challenge, Fun Fit Obstacle Course, Chicken Relay Race, Basketball Hoop Challenge, Healthy Food Toss, Spin Wheel, Inflatable Obstacle Course, Face Painting and Bounce House.
What: Volunteer at Austin Civic Orchestra's May 10 Concert Organization: Austin Civic Orchestra Where: Bates Recital Hall| UT Butler School of Music | 2420 Robert Dedman Drive |Austin, TX 78741 When: Sunday May 10, 2015, 06:30 PM - 10:00 PM The Austin Civic Orchestra needs volunteers to usher for their May 10th concert. The concert combines the best of the Austin community orchestras with the best from the Butler School of Music string studios in a collaborative concert free of charge to the Austin community. Sign up to volunteer at http://www.austincivicorchestra.org/volunteer.
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Community Service
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What: Golf Tournament Volunteers needed Organization: The Arc of the Capital Area Where: 2510 Onion Creek Parkway|Austin, TX 78747 When: Monday May 18, 2015, 09:30 AM - 08:00 PM
Contact Aimee Chonoski for a volunteer form at [email protected] and visit this google doc to sign up: https://docs.google.com/document/d/1FYMnlfDQlb4uKYPG-uPzNfFgHpB_gZTXswBgBlonESs/edit?usp=sharing. Spend the day out on the green running games, eating food, and mingling with guests and participants. There will be plenty of different shifts available to work around all schedules. The ARC of the Capital Area is looking for volunteers that are at least 16 years of age because they may be required to drive golf carts
What: Fit Foodie 5K Austin Organization: American Diabetes Association Where: Browning Hangar| 4550 Mueller Blvd | Austin, TX 78723 When: Fri Jun 12, 2015 06:00 AM - Sat Jun 13, 2015 11:30 AM Experience the race first hand and make friends with other volunteers at the event! Volunteers 16 years old and over are welcome, and volunteers 15 and under are welcome with a parent, guardian or group. Packet Pickup: Friday, June 12th from 4-7pm at Browning Hangar. PP duties include assisting the timing company in getting participants’ bibs and organizing and handing out goody bags and any apparel. Race Day: Saturday, June 13th from 6am - 11am. Race Day duties include start and finish line assistance, course management, water stations, goodie bags/T-shirts and cheering on participants and other key tasks to ensure the Fairfax Fit Foodie 5K is a success! Contact [email protected] with any questions!
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Community Service (Continued)
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FRAUD AND INTERNAL CONTROLS (reprintedwithpermission)
Themostrecentrecessionsharpenedatrendalreadyinplaceacrossthenationaleconomy–companiesrunleanertoday
thantheydid5,10or15yearsago.The inancialdif icultiesmanycompaniesareexperiencinghavereinforcedamovement
spurredbytechnologicaladvances.Mainly,therearefewerpeopleintheworkplacehandlingmoreresponsibilities.
Unfortunatelyforbusinessownersandseniorcorporateexecutives,reductionoftheworkforceequatestofewersupervisors,
thuslessavailabilitytooverseeandauditoperations.Thisconditionisaninvitationforemployeestopilferfromacompany‐
‐eitherbywalkingoffwithinventoryorinappropriatelyhandlingreceipts.
Fraudisabroadcategorythatincludesoutrighttheft,payrollschemes,skimmingandfalsifyinginvoices,amongother
activities.Abusiness’sfraudulentactivitycannotbereducedbyasinglemethod.Onemustemployacomprehensive
approachtofraudpreventionbytakingactive,consistentstepstoreducetheriskofsuchactivity.
Thetonefortheworkplaceatmosphereissetatthetop.Ownersandseniorexecutivesmustcreateanethicalbusiness
culturethatemployeescanclearlyunderstandandfollow.Ethicalbehavioralsostartsatthebeginning‐‐thepointatwhich
candidatesareconsideredforemployment.Itiscriticalthatemployersconductduediligence,screeningjobcandidatesby
contactingreferences,doingbackgroundchecksandverifyingemploymenthistories.
Headingofffraudulentactivityalsorequiresregularreinforcementwithcurrentemployees.Businesseslargeandsmall
shouldconductannualtrainingonfraudprevention,detectionandreporting.Also,theimplementationofawhistleblower
hotlinemaynotonlygiveemployeesaccesstoasystemtohelpuncoverfraud,butitmaythwartfraudulentactivityby
employeessimplybecauseitexists.
Fraudpreventionalsomeansgivingemployeesabreak.Requireemployeestotakeannualvacationssothattheemployee’s
dutiescanberotatedtootherstaff,increasingthechancesofcatchingafraudster.
Anotheraspectoffraudpreventionisinternalcontrol.Internalcontrolisacomprehensiveprocessdesignedtoprovide
reasonableassuranceregardingthereliabilityof inancialreportingandcompliancewithapplicablelawsandregulations.It
isasetofproceduresputinplacetopreventordetectsigni icant inancialmisstatementsandmisappropriationsofcompany
assets.Thispracticegoesbeyondjustfocusingonbankaccountbalancesortrustingveteranemployeestodotherightthing.
Thereareanumberofinternalcontrolsthatcanbeusedtomitigatefraudrisk.
Research Article Jennifer Hogencamp, CPA, CHAE
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Ownersandseniorexecutivesneedtobemorecloselyinvolvedinthe inancialaspectsoftheirbusinesses.Assigning
inancialdutiesentirelytoonemanagerinvitesfraud.Thereshouldbeoversightbyownersandseniorexecutivesonvarious
businessprocesses,asamplingofwhichincludesreviewof:
Financialstatementsonamonthlybasis(lookatcurrentyearoverprioryearandmonthovermonth).
Payrollactivity,suchas,changesinpayratesandnewhires,aswellasareviewofentirepayrollregistersfor
unusualnames.
Bankstatementsforunusualvendordisbursements.
Perhapsoneofthesimplesttacticsistolockupinventoryandblankcheckstock.Limitingthesizeandtypeoftransactions
individualemployeesareauthorizedtomake,andschedulingregularinternalandexternalreviewsof inancialsystems,will
improveinternalcontrols.
Thereisaseriesofinternalcontrolpoliciesandproceduresthatcanmitigatefraud.Althoughinternalcontrolreviewsofall
thebusiness’sprocessescanbetime‐consuming,theseshouldoccuratminimumonabi‐annualsurprisebasis.
Thereareothersimplerstepsyoucantaketocontroloperations.Forinstance,segregatingdutiesiscritical,eveninasmall
business.Separatecashpostingtocustomeraccountsandaccesstoreceipts.Separatereceivingcashfrommakingdeposits.
Properlyhandlecreditcardtransactionsanddata.Destroycreditcardinformationassoonaspossibleandmakesureyour
creditcarddatatransmissionisdoneonasecureline.EnsurethatyouPCIarecompliant.Ownersorseniormanagersneedto
reviewdelinquentaccountstoensuretheyareaccurate.
Donotignorethered lags.Payattentiontoemployeeswhoappeartolivebeyondtheirmeansorexhibitwheeler‐dealer
attitudes.Besensitivetoemployees,whomaybegoingthroughadivorce,havefamilywithmedicalissuesand/orother
problems.Watchforstafferswhorefusetosharecorporate inancialdutiesandrecords.Peoplewhorefusetotakevacations
maydosobecausetheyfeartheirfraudulentactivitywillbediscovered.
Fraudcanoccurwheneveropportunity,pressureandrationalizationcometogethertostressemployees.Witheconomic
uncertaintypressuringmanyAmericansthesedays,businessownersandseniorexecutivesshouldbecertaintheyhavethe
internalcontrolsinplacetolimittheopportunityforsomeoneintheiroperationtocommitfraud.
Research Article (Continued)
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The Disappearance of Madalyn Murray O’Hair
CPE Event - April 9, 2015 -
Wejustwantedtotakeamomenttosay“ThankYou” to Sharita Jefferson for the wonderfulphotosshetookduringourCPEevent.
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