SGB Orientation

Finance Workshop

Presented By: Darren RamdinAssociate Director

Association for Computing Machinery, Inc.Office of Financial Services

2 Penn Plaza, Suite 701New York, NY 10121-0701

212-626-0584212-997-1180 (fax)

ramdin@hq.acm.org

Association Facts

☻Established in 1947

☻The Association is an international scientific and educational organization dedicated to advancing the art, science, engineering, and application of information technology, serving both professional and public interests by fostering the open interchange of information and by promoting the highest professional and ethical standards

☻501 (c)(3) Organization

☻Exempt from Paying Sales Tax in Certain States

☻94,000 Individual Members

☻330 Institutions

☻5,000 Volunteers

Association Facts

☻$55M Organization

☻34 Special Interest Groups (SIGs) ($20.8K - $11M)

☻Sponsor or co-sponsor 140 conferences worldwide ($2K - $7.4M)

☻SIGs represent 56% or $31.5M of the $55M

☻SIG conferences represent 85% or $26.7M of the $31.5M

Financial Terminology

Fiscal Year

A period of 12 consecutive months without regard to the calendar year. The fiscal year is designated by the calendar year in which it ends.

ACM’s Fiscal Year: July 1 – June 30

FY 2010

July 1, 2009 to June 30, 2010

Conferences: March 1 – February 28

FY 2010

March 1, 2009 to February 28, 2010

Financial Terminology

Accrual Accounting

Recognizes expenses when incurred and revenue when earned rather than when payment is made or received

Revenue and expenses that correlate should be recorded in the same period

If no revenue is generated by the expense then the expense should be recorded when it occurs (accrued)

not when it is paid

Deferred Revenue

Income to be earned in future reporting periods

Financial Terminology

Allocation

Also referred to as overhead, is a fee levied on all SIGs to offset the cost of being part of a larger organization. It is not a fee for service. It is calculated on a sliding scale

based on the total expenses of each SIG

Surplus

The net result when revenue exceeds expenses

Deficit

The net result when expenses exceed revenue

Financial Terminology

Fund Balances

Also referred to as Reserves, is the accumulation of surpluses and deficits

Required Fund Balance

ACM policy requires all ACM subunits to maintain adequate reserves against unexpected occurrences.

This is referred to as the Required Fund Balance. The Required Fund Balance is calculated on this formula: 50% of organizational expenses + 40% of conference

expenses. The Required Fund Balance is established for each SIG as part of the annual budgeting process

Financial Terminology

Financial Management Report

Also referred to as FMR, is the SIG’s Financial Statement and/or the Financial Performance Analytical Tool

Technical Meeting Request

Also referred to as the TMRF, is the Conference Budget submission form

Conference in Process

Also referred to as the CIP, is the Conferences Financial Statement and/or the Financial Performance Analytical Tool

Financial Reporting Structure

ACM

SIGS(34)

GeneralActivities

CSTA

Financial Reporting Structure

SIG(FMR - Level 4)

Organization(FMR - Level 6)

Conferences(FMR – Level 6)

Financial Management Reports (FMRs)

fmr.acm.org

Data as far back as FY 2000-July 1999

Account Descriptions available in the SIG Officer Manual

http://www.acm.org/sigs/volunteer_resources/officers_manual/finances#sources

Financial Reporting Structure

SIG(FMR - Level 4)

Organization(FMR - Level 6)

Conferences(FMR – Level 6)

Financial Reporting Structure

SIG(FMR - Level 4)

Organization(FMR - Level 6)

Conferences(FMR – Level 6)

The FY 11 budget covers Conference activity from March 1, 2010 - February 28, 2011 and Organization activity from July 1, 2010 - June 30, 2011. No Later than November 16, 2009 – submit FY 11 Member Benefits to Office of SIG Services. On or about January 18, 2010 - ACM Finance commences inputting data on the FY 11 budget templates.  Data on special projects, awards, grants, travel are requested from SIG Officers. No Later than February 1, 2010 - FY 11 changes in member dues and subscriber rates must be submitted to ACM Finance for inclusion in the publications catalog. On or about February 15, 2010 - Completion date for preliminary preparation of draft budgets. On or about March 15, 2010 - Review with SIG officers, obtain approvals, work toward completion. On or about March 31, 2010 - Inclusion in ACM budget draft to be presented to ACM EC and Council.

FY 2011 Budget Schedule

Volunteer Resourceswww.acm.org

Click on Special Interest Groups (left bar)

Click on Volunteer Resources SIG Reference Sheet SIG Officers' Manual SIG Conference Manual SIG Policies and Procedures SIG Member Benefits Orientation Presentation Slides ACM Travel Guidelines Technical Meeting Request Form (TMRF) SIG Financial Reports (FMRs and CIPs) SIG Member/Subscriber Statistics