Roundtable Treasurers and Presidents Monthly Call December 2014

Roundtable Treasurers and

Presidents

Monthly Call

December 2014

CSCMP Accounting Staff

Paul BlairAssociate Director,

Finance & Administration

pblair@cscmp.org+1 630.645.3471

Shital PatelStaff

Accountant

spatel@cscmp.org

+1 630.645.3481

Jill CarrilloStaff

Accountant

jcarrillo@cscmp.org

+1 630.645.3491

Finance Process Team

Jonathan Smith

Upstate South Carolina

Roundtable

jonathan.h.smith@bigfoot.com

+1 864.214.6544

Michelle QuachSt. Louis

Roundtable

michelle.quach@bjc.org

+1 314.709.6116

Cliff Lynch

Mid South Regional

(Memphis) Roundtable

cliff@cflynch.com+1 901.619.2182

Anne Madara

New England Roundtable

madaraa@rcn.com

+1 508.877.4398

Your Input Wanted!!

• Please share one success and one challenge from your role as a Treasurer

• How can the RTSC better help you and your RT?

• What topics would you like to discuss on the Treasurer calls?

Treasurer Calls

Planned for second Monday of the month

2014 2015 28-Jul 12-Jan 18-Aug 9-Feb 8-Sep 9-Mar 13-Oct 13-Apr 10-Nov 11-May 8-Dec 15-Jun

Banking Policy:40 of 45 USA Active RT's In Alignment

With Wells Fargo (18)• Arizona• Atlanta• Baltimore• Central Florida• CSCMP• Dallas/Fort Worth• Indianapolis• Jacksonville• Kansas City Heartland• Milwaukee• National Capital Area• Northern Nevada• Peoria• Philadelphia• Pittsburgh• Puget Sound• South Florida• Upstate South Carolina

Converting to WF (3)• Middle TN (Nashville)• New York City• Raleigh

To Be Resolved (5)• Charlotte (solo

WF)• Cleveland• Lehigh Valley

(solo WF)• Utah-Idaho

Region• Western New

York

Provided Acct Login (16)• Chicago• Cincinnati• Columbus• Eastern Michigan• Houston• Mid-South Regional

(Memphis)• New England• New Jersey (Shital to confirm)• New York Capital District• Northeast Wisconsin (Shital to confirm)• San Diego/Baja• Southern California• South Central Pennsylvania• St. Louis• Twin Cities• Western Michigan

Plan To Provide Acct Login (3)• Central Virginia• Ozark• San Francisco

For questions or to get started, contact Shital Patel at +1 630.645.3481 or spatel@cscmp.org and copy Denise Rivers at drivers@cscmp.org.

Down from

16

From Your Finance Process Team:

Roundtable Treasurers and

Presidents

Appendix: Best Practices

Annual Audit Completion:Audit letters needed from 3 USA RT's

• Jacksonville• Utah-Idaho Region• Western New York

Banking Policy Alignment

We are making steady progress with having all roundtables align on the banking policy.

Of 45 Active RT’s in USA:• 21 With Wells Fargo or in process of converting• 19 Have already or plan to provide acct access• 5 To Be Resolved

For questions or getting started, contact Shital Patel at +1 630.645.3481 or spatel@cscmp.org and copy Denise Rivers at drivers@cscmp.org.

Refer to the Quick Banking Guide on the Roundtable Officer Resources webpage on cscmp.org

Wells Fargo Umbrella

If a RT uses Wells Fargo but not under the CSCMP umbrella, contact Shital Patel (spatel@cscmp.org) to provide account visibility to Paul Blair.

Activity Report

Assist Secretary with submitting complete event registration list (with walk-ins) to RTSC within 3 business days of event.

Send to Denise Rivers, drivers@cscmp.org

It is the Secretary's responsibility to complete an Activity Report for each event (which is on the Roundtable Officer Resources page) and the VP of Membership's responsibility to submit each event's full list of attendees (including walk-ins). However, the Treasurer often plays a supporting role to the Secretary and VP of Membership in completing these tasks.

Quarterly Financial Report

• No longer required for US RT’s since bank acct. visibility provided to RTSC.

• Still needed from non-US roundtables.

• RT president submits the report online by the 15th of the month following the end of each quarter.

• Report should reflect the cash balance, not necessarily the bank account balance.

https://cscmp.org/roundtable/roundtable-quarterly-report

Annual Audit

• Formal annual audit due July 31 of every yearo Submitted by incoming RT

presidento Email to Denise Rivers:

drivers@cscmp.org

• Informal audits encouragedo Prepared by a

disinterested person.Audit Template

https://cscmp.org/roundtable/roundtable-officer-resources

Sample Audit Letter

Responsibilities

1. Prepare a budget by event and for the roundtable program year.

2. Receipt all cash transactions and maintain a copy for roundtable records.

3. Pay bills and deposit roundtable funds promptly.

4. Keep accurate records.

Prepare a Budget

1. Use templates under RT Officer Resources.2. Acts as a guide for planning the RT’s activities.3. It shows the roundtable’s planned income and

disbursements.4. Developed once RT’s goals have been set so

programming needed to accomplish the goals is incorporated into the budget.

5. Helps make sure the RT’s activities stay within its means.

6. Puts periodic RT financial reports into perspective.

Achieving Good Financial Governance

1. Accurate reporting capabilities– Weekly/monthly reconciliation of the bank account– Tracking and visibility to the book/cash balance

2. Internal controls– Informal audit of transactions– Ensure there are two board members on the bank

account at all times, with Paul Blair having read-access– Maximum withdrawal amounts (can set via the online

banking website)– Notifications of transaction amounts greater than $500

CC Readers for Onsite Payment

• Device operated by an APP that is downloaded to a smart phone

• No cost to RT other than regular 3% credit card transaction fee

• Instructions included & training to be provided• Device not aligned with DRUPAL at this time but

we have a process to manage alongside DRUPAL

If interested contact Denise Rivers, drivers@cscmp.org

Requesting Event Funds

Two Online Forms under Roundtable Officer Resources

1. Roundtable Electronic Transfer Setup Request• One-time form to provide banking information for

setting up an Electronic Funds Transfer (EFT) process• RT’s on Wells Fargo do not need to complete this form

2. Event Funds Transfer Request• Complete after each event• Funds sent by check if no EFT process established