1. SWE Finance 101 FY10 Treasurer – Joan Graf Executive Director – Betty Shanahan

2. SWE Finance 101 Agenda Budgets – Describe and define Restricted vs. Unrestricted Funds – Use and management Financial Responsibilities Reporting Q and A

3. SWE Budgets Operational Budget – This budget is defined to manage our HQ, programs, services and membership benefits. Conference Budget – This budget is defined to manage the annual national conference

4. SWE Budgets - Operational Income Dues Professional, Collegiate, Corporate Programs and Services Wow! and other outreach, Grants, Awards, Career Service Center, Professional Development, Collegiate Leadership Forum Publications Magazine Other Contributions, Royalties, Conference subsidy, Installation, CPC unrestricted donations

5. SWE Budgets - Operational Expenses Management Committees, Board of Directors, Individual Officers, Senate, Executive Staff Administrative HR, Accounting, HQ Staff, Bostrom overhead costs Programs Wow! and other Outreach, Grants, Awards, Career Service Center, Professional Development, Collegiate Leadership Forum, External Affiliations, Archives, Website

6. SWE Budgets - Operational Expenses (cont.) Membership Sections and Regions services, Collegiate, Professional and CPC member services Publications Magazine Relations Public Policy and Public Relations

7. SWE Budgets - Conference Income Registration, Sponsorship, Events, Exhibits Expenses Speakers, Conference Facilities and fees, Conference Management, Events, Publications Note - Overage of FYXX conference – 95% to Operating Budget for FYXX+1 budget, 5% to CRF

8. SWE Restricted and Unrestricted Income may come in as restricted or unrestricted. Example Restricted – Donor has identified a specific use. Example – IBM donation was identified for use for the Wow! program. Example Unrestricted – funds that are donated and are used in the operational budget as needed. Example – Board of Directors challenge. Notes – Many of our Programs would not be done if restricted funds were not available. Example – Outreach Fees get attached to grants that National manages but are passed thru to ultimate recipient. Example – Scholarships @10% and PDG grants @15% Example we don’t get fee – CPC region funds. Advertising/Sponsorship – donations for an opportunity – need to give something in return to Sponsor.

9. Restricted Fund examples ExxonMobil Grant IBM Partnership Hoffman Bequest Ford Grant Collegiate Leadership Coaching Bechtel Grant AWE Program Fund CPC Fund SWE Restricted and Unrestricted

10. SWE Funds Use and Management General Operating Reserve (Managed by HQ) Retained earnings (capped so that excess transfers to Contingency Reserve Fund) Small unused restricted funds not tracked separately (never included in total) Contingency Reserve Fund (Managed by BOT) The fund was defined for SWE to have for urgent needs. Currently funded by 5% of conference overage. SWE-EFI accounts (Managed by BOT): Headquarters Fund – a permanent endowment that provides income to SWE-HQ. Life membership donations go to the fund. It also receives some donations and some bequests. Awards Fund - Formed by merging several single awards funds. Provides an annual subsidy to be used by SWE for awards. Scholarship Fund - a permanent endowment that provides income for scholarships

11. SWE Financial Responsibilities HQ/Treasurer Responsibilities: Monthly statements sent to Treasurer – 20 th of each month Statements forwarded to BOD and Finance Committee for review – 25 th of each month Detailed statements sent to each committee from Bostrom– End month Management of all staff time expenses Approval of BOD travel and other BOD expenses (shared w/ President) – Provide input on BOD motions Overall management of operations and conference budgets – ongoing BOD Member Responsibilities: Review detailed statements and understand what charges are occurring Approval of committee expenses Engage Treasurer in BOD motions for budget analysis

12. SWE Financial Responsibilities (cont.) Finance Committee Members Responsibility Review financial statements and understand Provide input on draft budgets Advise BOD on proposed budgets and ongoing financial status Maintain Finance Manual and other documentation Committee Chair Responsibilities: Review detailed statements to understand spending and available funding for remainder of year – ongoing If unknown charges are hitting your line items, raise questions to BOD contact or Treasurer – ongoing Senate Responsibilities: Contingency Reserve Fund document Everyone reviews and ask questions! Evaluate dollar amounts for questions to ensure significant to that budget.

13. SWE Travel Policy Exclusions: This policy only pertains to SWE volunteers; policy for travel reimbursement for SWE Staff is documented with a Headquarters policy. Staff may use the line item budgets allocated for SWE approved meeting expenses. Travel of Staff should be included in the budget process if they are expected to attend approved meetings. Expenses for SWE volunteers to attend any events other than approved meetings are not covered. Costs to attend Regional and National conferences or speaking engagements are not reimbursable under this policy. If SWE approved meetings are held in conjunction with another SWE event (i.e., Region or National Conference) travel expenses for the meeting can be requested for reimbursement. In this case the transportation expenses can be requested per the guidelines listed below and only the additional hotel nights to attend the meeting can be reimbursed. Expenses for the President or designated representative to attend speaking engagements are covered in accordance with approved budgets. Expenses for the Director of Regions or designated representative to attend regional conferences are covered in accordance with approved budgets. The policy applies to National activities. Regional and Section policies may vary.

14. SWE Travel Policy (cont.) The BOD will allocate funding for travel expenses for approved meetings through the budgeting process. There shall be a line item in the SWE budget allocated for travel reimbursement for each group holding such approved meetings. The BOD liaison will determine the distribution of the budget for each approved meeting and advise the attendees of the available funds prior to the meeting. The SWE President or Treasurer shall act in this capacity for the BOD. Travel expenses that are reimbursable under this policy are: ½ the cost of the hotel room*, costs for transportation to the meeting (air, rail, or mileage reimbursement using the IRS business rate which can not exceed the cost of an airplane ticket), taxi/shuttle, and parking. For regional conference participation, the Director of Regions can be reimbursed for registration expenses. Any other expenses (e.g., telecommunications, entertainment, other incidental costs) are not reimbursable. Individual meals are not reimbursable for Professional members unless included in an approved budget for a specific event. Meals are reimbursable for Collegiate members. *The Board liaison can approve covering the full cost of hotel room for unique situations (i.e., an uneven # of attendees). (can now have internet costs reimbursed if required for the meeting)

15. Ensure funding is available in your budget Coordinate with BOD contact if unsure or if additional funding is needed Spend money on items once preapproval granted by BOD contact Submit reimbursement form to BOD contact Send reimbursement form and receipts to HQ BOD contact send approval to HQ for processing HQ processes checks and sends reimbursement Checks processed on the 15 th and last day of month Reimbursements are only processed once all receipts and approvals are received Option for in-kind donations Send reimbursement form to HQ and check appropriate box Please check here is you would like your reimbursement to be used as a donation to the Society of Women Engineers (SWE) No money is sent, but receipt is sent with appropriate donation amount Can be used for tax purposes to quantify the in-kind donations to the Society Can not be used for expenses reimbursed by another source SWE Reimbursement

16. SWE Annual Budget Process Incorporates feedback from annual programs and services assessment outcomes Includes fund requests in support of next year’s strategic focus items Initial version is developed by ED and Treasurer and reviewed by Finance Committee Submitted to BOD for approval at ~BOD3  Conference budget handled separately – ED develops with reviews by Treasurer and Finance Committee.

17. SWE Reports

18. Questions? Contacts Joan Graf – joan.graf@swe.org.joan.graf@swe.org Betty Shanahan – Betty.Shanahan@swe.orgBetty.Shanahan@swe.org SWE Money Community Q & A