BCS Membership Board · Professionalism Board Policy and Public Affairs Board BCS Academy of Computing Membership Board BCS, The Chartered Institute for IT ... The result is that

BCS Membership Board Treasurers’ day

10th February 2015

INTRODUCTION AND AGENDA Ian Sunley

Presentation to insert name here 2


Agenda

Morning 10.30 to 11:30

Unconcious Bias Training

Morning 11:30 – 13:00

• Introduction objectives of the day.(IS)

• The current financial position of both the Institute and Membership Board(IS)

• Report on Changes from Last year.

• Accounting requirements and Financial rules (HA)

• The budget process for FY 2014-2015

• Questions and Answers

Afternoon 13:45 to 15:30

What Swindon can offer to Treasurers

Introduction to 3 topics for SPEED networking

Presentations from Groups

Final Discussion and Close

UNCONSCIOUS BIAS TRAINING Rebecca George.


OBJECTIVES FOR THE REST OF THE DAY

Ian Sunley



Objectives for the day

1. To make it easier for Treasurers and MB

Finance Committee to work together

2. To explain the budget process for the

Financial Year 2015-2016

3. To keep you up to date with financial

processes and guidelines.

1. To get your input into the processes we

use.

“

Governance and MB Finance Committee


Professionalism Board Policy and Public Affairs Board BCS Academy of Computing Membership Board

BCS, The Chartered Institute for IT

STRUCTURE OF BOARDS & COMMITTEES

December 2013

Policy Committee

Finance Committee

Best Practice Committee

JTISC Representation

Audit and Risk

CommitteeRemuneration Committee

COUNCIL TRUSTEE BOARD

Registration Standards

CommitteeNominations Committee

Membership CommitteeGovernment Relations Group

Academic Accreditation Committee

Academy Awards Committee

Policy Hub

Security Community of Expertise

Inclusion Community of Expertise

Internet of Things Community of Expertise

Working / expert groups

MB Finance Committee Terms of Reference

• Purpose

• Responsible to Membership Board for financial rules, processes and procedures for

Member groups

• Establish administer and allocate the budget for all membership functions

• Optimise the use and take up of funds through review and reallocation

• Responsibilities

• Consult over changes

• Define and agree levels of authority

• Define and agree internal auditing controls to monitor compliance with internal policies

• Ensure the budget process is handled smoothly in a timely fashion


Finance Committee & Current position


Members of Finance Committee at 21st January 2015

Ian Sunley – Chair

Terence Freedman

Helen Fletcher

Dan Hayton

Andy Cox

Judith Taylor

We need 2 new members if anyone is interested

With support from

Helen Axam

Karen Myatt.


Figures at end of August 2014


Year end results 13/14

£ £ £

Net

Net Budget Spend Balance

Branches 107,965 92,049 15,916

Specialist Groups 76,528 45,206 31,322

International Sections 40,000 35,279 4,721

Governance & Conventions 11,400 14,310 (2,910)

SFR - Pot B 87,000

322,893 186,844 49,049

BCS Health £65000 65,000 30,634 34,366

Grand Total 387,893 217,478 83,415


Current results 13/14

To end December 2014

£ £ £

Budgeted Budgeted Actual Actual Net

Spend Income Net Budget Spend Income Spend Balance

Branches 130,935 5,800 125,135 36,122 6,150 29,972 95,163

Specialist Groups 343,210 239,388 103,822 106,545 90,578 15,967 87,855

BCS Health £47,000 47,000 0 47,000 13,048 0 13,048 33,952

Sub Total A 521,145 245,188 275,957 155,715 96,728 58,987 216,970

International Sections 39,999 0 39,999 25,700 0 25,700 14,299

Governance & Conventions 44,900 0 44,900 9,645 0 9,645 35,255

Sub Total B 606,044 245,188 360,856 191,060 96,728 94,332 266,524

SFR - Pot B 87,000 0 87,000 29,799 0 29,799 57,201

Grand Total 693,044 245,188 447,856 220,859 96,728 124,131 323,725

0 0

Helen Axam

11th January 2014

Supplementary Funding - Tracking Sheet Summary:-

Pot B Funding 87,000

Allocated to date 29,799 29,799 Cross check

Balance remaining 57,201 at month end

End Dec. (4 months)

Branches spend £29K

SGs spend £16K.

NOTE. Because we have

corrected for Income this

year then the comparison

is offset by around 8%


Current results 13/14

-20

-10

0

10

20

30

40

50

60

70

1 2 3 4 5 6 7 8 9 10 11 12

Perc

en

tag

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et

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Net spend as % of budget

203/14

2014/15

Institute Year End Figures


Because these figures are yet to be

finalised I cannot publish them on a slide.

Report on Changes from Last year

• Each budget allocation for 2014-15 gave a reason for the figures that were allocated. The

result was that we had a lot less misunderstandings in September.

• The Finance Committee attempted to create a document that would make the decision for

many of the SFR’s quicker. The result is that there are a number of key elements that

must be filled in before we will discuss an SFR. In particular a breakdown of the required

funding, whether other sponsorship has been obtained and how the Institutes objectives

are met. These items are dealt with by the members groups team before submission to

the Finance Committee.

• Helen clarified the revised Members Financial Regulations to keep them in with those of

the Institute.

• Revised Capital Expenditure limit down to £250, as the cost of Laptops and Pads fell

some groups were wishing to buy them for their committee hopefully this has stopped

that.

• We looked at last years speed networking and have highlighted several key points that

the Finance committee are tackling 2014-15.


2014-15 Action Plan

• Clear guidelines and clarification in a document on website of donation and sponsorship

and process for both.

– The Guidelines already exist but will be pulled together and added to the Financial Guidelines.

• Official handover procedures for Treasurers. - To be discussed this afternoon

• More online forms that are not PDF format but fillable on line and online submission forms

and history of submission.

– Agreed buy Finance Committee but as a new software system is being commissioned this will have

to wait. The new system should make this easy.

• What should be bid for in budgets capital expenditure.

• Guidance on what is permissible expenditure and personal expenses. - To be discussed this

afternoon.

• Is there a Treasurers forum and mentor scheme.

• Checklist of what is and what is not available centrally – e.g. hotel bookings.

• Is there an escalation process if MBFC decision not agreed with by the SG/Branches – To

be discussed this afternoon


HOW HEADQUARTERS AND THE TREASURERS WORK TOGETHER

Helen Axam



Interactive Session

The aim of today’s session is to

• Cover the salient points of the Guidelines For Treasurers

• Cover the daily / weekly / monthly / annual tasks

• How HQ finance supports the treasurers

• How you can help HQ and yourselves

• Cover the completion of various forms

• VAT – income and expenditure

• Monthly financial statement


Treasurers’ Guidelines

EXPENDITURE

• What do you class as “Expenditure”?



EXPENDITURE


• A purchase invoice.



EXPENDITURE



• An expense claim.



EXPENDITURE




• A cheque raised at HQ for e.g. a Student Prize



EXPENDITURE




• A cheque raised at HQ for e.g. a Student Prize

• Bank charges associated with paying an invoice or claim overseas



INCOME

• What do you class as Income?



INCOME


• Event Income net of VAT (before VAT is added on)

– All chargeable events must go through the BCS Event Booking

System. To assist with this a completed budget proforma will be

required by the Member Groups Team (MGT).

– This will ensure that the income (net of VAT) will correctly be posted

to your monthly accounts

– Please note – I examine the income earned each month and hold it in

a balance sheet account called Income in Advance, until the actual

month the event happens



INCOME



• Sponsorship Income net of VAT, by external parties

– If you are successful in securing Sponsorship, please contact me so

that I can help you with the details required to raise an invoice from

HQ to your Sponsor. We need to get the invoicing details correct at

the start to avoid non-payment of invoices.

– This will ensure that the Income is posted to your accounts correctly

– Not to be confused with Donations.



INCOME



• Sponsorship Income net of VAT, by external parties

• Donations (exempt of VAT)

– Definition of a Donation – “Donations are given without return

consideration”.


Routines – daily/weekly/monthly/annually

DAILY / WEEKLY

• Monitor emails and post for financial information

• Preferred for invoices and claims to come to Swindon Finance first.

• Scan in expense claims with receipts, as and when received

• Scan in invoices as and when received

– Why? So they don’t get lost or forgotten or build up and so HQ can

arrange payment in a timely manner

MONTHLY

• Approaching month end, ensure that all of the above have been

submitted

• Review monthly accounts (more on this later)


Routines – daily/weekly/monthly/annually

ANNUALLY

• With the July accounts, I will send you a Year End Return Form

• Keep this safe for the year end date of 31st August

_______________________________ Member Group

2014/15 Year-end Return

Transactions relating to the 12 months ended 31 August 2015. Please tick one box

All the transactions for the Branch/SG have already been completed.

The attached claims/invoices are the last for the Branch/SG.

In addition to claims/invoices already sent to you, the following expenditures should be taken into account.

Creditors: Goods and services to be received by 31 August 2015 for which invoices have not yet been received or an expenses claim submitted.


Supporting each other

HOW HQ SUPPORTS YOU

• Seeking your approval for expenditure

• Processing documents in a timely fashion

• Paying suppliers and expense claimants in a timely fashion

• Publishing monthly financial statements

• Here to help – any questions, big or small, we answer them all

HOW YOU CAN HELP HQ AND YOURSELVES

• Respond as soon as possible to any communication from either finance

or the Member Groups Team. Please let us know about holidays

• A simple thing – please enter the name of your member group in the

subject field of all emails


Completion of forms

• Expense claim forms (sample of areas to be completed follows)

• Overseas claimants need to provide us with different bank details – please ask me in advance for a relevant form I can send you

• Signature forms of officers (Treasurer, Chair and Secretary)

– After your AGM, if there is a change in officers then the signature form for the next f/yr must be completed. If I do not have sample signatures for the officers, they cannot sign off any documents (KPMG Audit Rules). If no change, then a quick email from the treasurer can let me know this

• Year end forms

• Chargeable Event Proformas – contact [email protected]

• Supplementary Funding Requests (SFR’s) – contact [email protected] A bit on this later

• All available on www.volunteer.bcs.org various sections

mailto:[email protected]



Completion of an Expense Claim Form


VAT

WHY DO WE ALWAYS REFER TO “NET OF VAT”?

• BCS is VAT registered. This means that we are obliged to charge VAT

on all income (except Donations). VAT on income we invoice is called

“Output VAT”.

• Any supplier who is VAT registered themselves, will charge us VAT on

expenditure that we buy. VAT on expenditure is called “Input VAT”.

• The VAT on income is paid to HMRC

• The VAT on invoices can be claimed back from HMRC. Full VAT if

relating to a chargeable event, partial VAT if not. No VAT can be

claimed back on submitted expenses (HMRC rules).

• Hence – net of VAT. All of this is actioned by HQ

• Example follows


VAT Example


Monthly Financial Statements

INCOME AND EXPENDITURE STATEMENT

• This is an overall summary of the member group’s financial activities

each month.

• It will show you any income earned (in the correct month)

• It will show you any expenditure (in the correct month)

• You can see the individual month’s figures

• You can see the year-to-date accumulative figures

• You MUST monitor your income and especially expenditure against

your approved annual allocation. Do not allow the member group to

overspend.

Example follows


Sample of monthly financial statement showing Income

YR 14/15 Dec Management Accounts Report

Period Period Period YTD Period YTD Full Year Budget

Period Actual Period Budget YTD Actual YTD Budget Full Year Budget

INCOME

150 100 200 400 600

Income 150 100 200 400 600

EXPENSE

3010: Travel/Subsistence (Other) 14 33 14 133 400

4100: Postage 0 3 0 10 30

4110: Room Hire 30 33 50 133 400

4130: Speakers expenses 0 11 0 43 128

4150: Catering 274 52 314 208 623

4290: Subs to Other Bodies 0 1 0 5 15

5102: Student Prizes & Membership 0 34 150 135 404

Expenditure 317 167 527 667 2,000



EXPENDITURE TRANSACTIONS

• This tab shows you what you’ve spent your budget allocation on!

• This is a summary of invoices, expense claims, cheques raised at HQ

etc. and is presented as year-to-date.


Expenditure

TRANSACTION REPORT

Expenditure, Dec YTD 14/15 TOTAL £527.23

Account Name Date Amount Ref. Description Supplier

5102: Student Prizes & Membership 29 Sep 2013 150.00 270267 EXP-PG-29/9 PROF P M DONALD

5102: Student Prizes & Membership 30 Sep 2013 150.00 SEP020 Provide accrual AXAM001 exps in hand not yet posted Not Applicable

4150: Catering 30 Oct 2013 37.50 271204 SMIN023773 ROBERT WHITE UNIVERSITY

4150: Catering 30 Oct 2013 2.70 271204 SMIN023773 ROBERT WHITE UNIVERSITY

5102: Student Prizes & Membership 31 Oct 2013 -150.00 OCT020 Reverse accrual AXAM001 exps in hand now posted Not Applicable

4150: Catering 05 Nov 2013 40.00 270555 EXPS PG 5/11 PROF P M DONALD

4110: Room Hire 05 Nov 2013 20.00 270555 EXPS PG 5/11 PROF P M DONALD

4110: Room Hire 16 Nov 2013 30.00 271228 EXPS JEMT 16/11 DR J E M TATE

4150: Catering 16 Nov 2013 30.00 271228 EXPS JEMT 16/11 DR J E M TATE

3010: Travel/Subsistence (Other) 16 Nov 2013 13.50 271228 EXPS JEMT 16/11 DR J E M TATE

4150: Catering 26 Nov 2013 37.50 271254 SMIN 023888 ROBERT WHITE UNIVERSITY

4150: Catering 26 Nov 2013 2.70 271254 SMIN 023888 ROBERT WHITE UNIVERSITY

4150: Catering 28 Nov 2013 163.33 270920 BCS-BRANCH 13/12 SPORTSMAN'S CLUB, THE



• It is the Treasurer’s responsibility to ensure that the financial statement

is circulated to the Chair and Secretary each month and that the

accounts are discussed at each committee meeting

• It is the Treasurer’s responsibility to examine the transactions each

month and to report back to me any queries or changes i.e. to re-code

transactions to a different cost code.

– For example, if your member group earns event income, we can

identify specific costs linked to the events by using code 5104: MG

Income Related Expenditure.


Before submitting an SFR, think about your financial statement

• IMPORTANT POINT

• Before your member group considers putting in a Supplementary

Funding Request, the Committee must review the most up-to-date

financial statement to see if there are sufficient unallocated funds

available from running costs to cover the expense first; e.g. an SFR for

£100 can be funded by the MG, if they have only spent £217 against an

annual allocation of £1,500.

• Your first port of call can always be www.volunteer.bcs.org

• More detail can be found in the documents you are emailed when you

are welcomed to BCS as Treasurer – good point of reference.

http://www.volunteer.bcs.org/


Treasurer supporting documents

• Each treasurer receives the following documents when they are appointed:

– Member Groups Financial Guidelines

– BCS Accounting Service

– Authorised Signatory Form – to be completed as a new officer

– Member Groups Monthly Financial Statements and Example Report

– Expense Claim Forms to circulated and be used by all

The above documents have been reviewed and updated, so if any of you would like to receive any of the above again, please drop me an email request to [email protected]

- Thank you all for your kind attention.

- Any questions?


Budget process for FY2015-2016

Treasurers Day 2015

Timetable for 2015

Action By Date

Prepare budget bid Member Group

Treasurers

31 March


Timetable for 2015

Action By Date


Treasurer

31 March

Review and prepare bids

for MBFC

Member Group Team 10 April


Timetable for 2015

Action By Date


Treasurer

31 March


for MBFC


Consider bids and

suggest revisions

MB Finance Committee

with Member Groups

15 April

Prepare Consolidated

bid for approval by

Membership Board


(chair)

4 May


Timetable for 2015

Action By Date


Treasurer

31 March


for MBFC


Consider bids and

suggest revisions


with Member Groups

16 April


bid for approval by

Membership Board


(chair)

4 May

Review and approve bid Membership Board 6 May


Timetable for 2015

Action By Date


Treasurer

31 March


for MBFC


Consider bids and

suggest revisions


with Member Groups

16 April


bid for approval by

Membership Board


(chair)

4 May

Review and approve bid Membership Board 6 May

Review bid and give Q1

commitment

Trustee Board 3 June


Timetable for 2015 part 2

Action By Date


commitment


Inform Member Groups

of Q1 commitment

Member Group Team 14 June

Sign off budget for 2015-

2016

Trustee Board 15 July



Action By Date


commitment



of Q1 commitment



2014


Review outcome for

Member Groups

MB Finance Committee ASAP



Action By Date


commitment



of Q1 commitment



2014


Review outcome for

Member Groups

MB Finance Committee ASAP


of final budget

Member Group Team ASAP hopefully Early

August


Points to consider when preparing your bid

Include how much you are hoping to spend

Include how what you are planning to do lines up with BCS objectives

(the five pillars)

If your bid is significantly different from last year, say why

Remember to include all regular events that you support

Do not include any extra for contingency – MBFC hold contingency

funds centrally


Treasurers Day 2014 Questions & Answers

Treasurers Day 2015


Lunch until 13:45

WHAT MEMBERS GROUP TEAM CAN OFFER TREASURERS

Karen Myatt


55

Pre-event planning and support

Planned events – within annual budget submission or have agreed supplementary funding

Chargeable events – submit a budget with costs excluding VAT

which prompts necessary codes for online booking system we will put the event on to the BCS Calendar.

Event Booking system – must be used for those holding events in the London Office and for

those who have chargeable events. Charges should reflect – BCS Members should pay a reduced fee as should members of other

affiliated organisations

56

Pre-event planning and support

Joint events with external partners – Supported by Memorandum of Understanding signed by a BCS

staff member

Group Secretary books rooms – payment via group administrator not individuals’ personal expenses. MGT have list of providers where invoicing arrangements have been

made

Time scales – < 50 delegates, ideally at least 6 weeks 50 - 150, ideally 8-12 weeks

57

Support from MGT

MGT can arrange: Catering - 5 working days notice for BCS London events 10 working days external events booked by MGT

Alcohol ONLY available for evening events, agreed limits

Publicity - Brochures, posters, flyers published in-house Group to provide content for these and the calendar Lead-in time 2 months from initial instruction

Delegate packs - BCS encourage groups to be ‘paper light’ but packs

can be provided if requested at budget submission time Branded freebies are also available and speaker gifts Badges - Stickers available for free events Badge holders for chargeable events Delegate lists - available from your administrator and within your group secure

area Events booking system - is monitored and rooms reduced if necessary, with

prior notice

58

Committee’s responsibilities

Setting the content and format of event – confirming speakers obtaining Bios collating speakers presentations after-dinner speakers and entertainment Sourcing – sponsors and external exhibition stand bookings, invoicing by BCS requesting BCS stands and podiums etc Identify member of committee – to be present at set up and close down MGT will not necessarily attend actual event (6 weeks notice) External Premises – should have a risk assessment in place

59

On the day

Staff can man registration for 50+ paying delegates Liaise with venue in relation to AV requirements etc Committee to remove event from web pages hosted outside of BCS

60

BCS London

Maximum capacity 120 Bookings up to 1 year in advance Prior agreement for posters etc No access to kitchen or staff area All printing and stationery requested prior and through Swindon Large events may require committee member to act as a door man No catering from non-approved suppliers permitted

DISCUSSION TOPICS


New Ideas for Discussion

• You have 15 minutes on each topic, one person should take the notes

and each group will present their ideas at the end.

• The 3 topics are:

– To review the papers on Handover Process for Treasurers and the

Policy for Appealing against a Finance Committee decision.

– To review the document on what expenses can be claimed with

opinions, changes etc. The outcome of this will become practice.

– How can we help treasurers more. What else can we offer. This will

be used to drive our goals for 2025-16.


Presentations


Summing up

• Are their any questions about the day?


• Thank you for giving up your time.

• There is refreshments outside if you wish to continue networking for a while.


Documents

BCS Membership Board · Professionalism Board Policy and Public Affairs Board BCS Academy of Computing Membership Board BCS, The Chartered Institute for IT ... The result is that