1. Session A: Back to Basics
IEEE SCV SECTION
Treasurer Training
Session A: Back to Basics
Jan. 24, 2015
Jason Chan - SCV Treasurer
IEEE Santa Clara Valley Section Treasurer's Report

2. IEEE Santa Clara Valley Section Treasurer's Report
Agenda
2014 Recap
Intro
Logistics
Budgeting
Financial Management
Financial Reporting
IEEE Santa Clara Valley Section Treasurer's Report

3. IEEE Santa Clara Valley Section Treasurer's Report
Introduction
2014 Recap and Lessons Learned
Financial reporting system has undergone major structural changes
SCV Section officers took on Beta Testing of a new Financial Reporting System per IEEE Finance: Bank Upload Template (“BUTemplate”)
Old “L50” System: yearly roll-up report
New BUTemplate System: month-by-month transactional entry for IEEE Finance to input into NetSuite
IEEE Santa Clara Valley Section Treasurer's Report

4. IEEE Santa Clara Valley Section Treasurer's Report
Introduction
Lessons Derived from Beta Testing (1/2)
Very time consuming process: (54 Accts) x (12 mo’s) = 648 Worksheets
OU Treasurer’s must assume responsibility
Pre-empting the 1st 9-10 months worth of reports helps a lot to meet Feb 15th deadline (for 10% section bonus)
Going after obstinate treasurers who complain about the “anachronistic” nature of the process without offering constructive suggestions:
Our message: “suck it up” and embrace it
Refusal to cooperate by turning in financial reports will result in automatic disqualification of Chapter Rebates + bonuses
IEEE Santa Clara Valley Section Treasurer's Report

5. IEEE Santa Clara Valley Section Treasurer's Report
Introduction
Lessons Derived from Beta Testing (2/2)
OU treasurers were generally ignorant of fundamental treasurer duties
Financial reporting process
Tax-reporting implications such W9’s and 1099’s
Takeaway: for our new system to work efficiently, we need to get back to basics
IEEE Santa Clara Valley Section Treasurer's Report

6. IEEE Santa Clara Valley Section Treasurer's Report
Agenda
2014 Recap
Intro
Logistics
Budgeting
Financial Management
Financial Reporting
IEEE Santa Clara Valley Section Treasurer's Report

7. IEEE Santa Clara Valley Section Treasurer's Report
Introduction
What does it mean to be treasurer?
You’re the Chapter’s version of “Uncle Moneybags” who distributes money to fund Chapter events, meetings, etc…
Well, it’s a bit more than just cutting checks
IEEE Santa Clara Valley Section Treasurer's Report

8. IEEE Santa Clara Valley Section Treasurer's Report
Introduction
Besides being Uncle Moneybags, what are the entailing responsibilities?
Fiduciary Responsibility
Maintain fiscal integrity of the Chapter
Legal and Ethical Responsibilities
Reporting and enforcing all financial activity in a legally responsible fashion
IEEE Santa Clara Valley Section Treasurer's Report

9. IEEE Santa Clara Valley Section Treasurer's Report
Introduction
Your treasurer life revolves around the Chapter CBRS account
IEEE Concentration Banking System
Checking account features
Interest earnings
Check writing
Debit Card
Online access to statements (remember!)
IEEE Santa Clara Valley Section Treasurer's Report

10. IEEE Santa Clara Valley Section Treasurer's Report
Agenda
2014 Recap
Intro
Logistics
Budgeting
Financial Management
Financial Reporting
IEEE Santa Clara Valley Section Treasurer's Report

11. Logistical Responsibilities In the beginning…
Collect financial records from the outgoing unit treasurer
File Add-Signer Form
All bank accounts must have the following authorized signatories
CBRS Accts: Current officers
Local Bank Acct: Current Officers + Thomas J. Lynch (IEEE Staff Director of Financial Services) 
IEEE Santa Clara Valley Section Treasurer's Report

12. Logistical Responsibilities …and continue the circle of life
End of Year
Arrange for the transfer of financial records to the incoming unit treasurer
Train incoming treasurer on financial reporting process when filing Nov. and Dec. reports
New authorized signatures for each account
File add-signer forms
Change local bank
IEEE Santa Clara Valley Section Treasurer's Report

13. IEEE Santa Clara Valley Section Treasurer's Report
Agenda
2014 Recap
Intro
Logistics
Budgeting
Financial Management
Financial Reporting
IEEE Santa Clara Valley Section Treasurer's Report

14. Budgeting Responsibilities
Beginning of the Year…
Craft a budget
Work with your fellow officers before the Chapter’s 1st meeting of the new year
Use previous year’s financials to estimate income vs. spending
IEEE Santa Clara Valley Section Treasurer's Report

15. Budgeting Responsibilities
Be Fiscally Responsible
Periodically review the income and expenditures
Insure that operations do not exceed the budget
Alert Ex-Com members if Chapter incurs budget overrun
IEEE Santa Clara Valley Section Treasurer's Report

16. Budgeting Responsibilities
Sources of Income
Technical Meeting revenue
Conference revenue
Chapter Rebates from SCV Section
IEEE HQ Bonus
Let’s biefly talk about the Rebate and Bonus structure…
IEEE Santa Clara Valley Section Treasurer's Report

17. Budgeting Responsibilities
What is a Chapter Rebate?
Stipend coming directly from IEEE Finance, based on the number of Technical Meeting (TM’s) a Chapter holds
Rebate proportional to the # of technical meetings (TM) & IEEE attendees
More TM’s & IEEE Attendees = more $$$
To get Skin in the Game
Minimum threshold = 2 TM’s (one must be hosted by that chapter, the other can be co-hosted);
< 2 TM’s disqualifies Chapter from Rebates and Bonuses
IEEE Santa Clara Valley Section Treasurer's Report

18. Budgeting Responsibilities
Rebate Components
Section Bonus
1st Tier $200 HQ Bonus
2nd Tier $75 HQ Bonus
Section Bonus Sharing
See “Rebate Process Flow PDF” for further details on rebate distribution formulas
IEEE Santa Clara Valley Section Treasurer's Report

19. IEEE Santa Clara Valley Section Treasurer's Report
Agenda
2014 Recap
Intro
Logistics
Budgeting
Financial Management
Financial Reporting
IEEE Santa Clara Valley Section Treasurer's Report

20. Financial Management Responsibilities
Everyday Accounting
Record all receipts/invoices in accounting spreadsheet template with annotations 
Deposit money into designated CBRS/Local Bank Account
Make disbursements as motioned/approved by Ex-COM
Prepare monthly bank reconciliation with BUTemplate forms and tender to SCV Section Treasurer (more details in Financial Reporting section…)
IEEE Santa Clara Valley Section Treasurer's Report

21. Financial Management Responsibilities
Your Legal Responsibilities (1/2)
Income Distribution
Examples of “Income”
Prize/award money
Gift money
Contractor payments (e.g. videographer, web developer)
Travel stipends for speakers, honoraria, etc
What to do
Step 1: Chapter to obtain a completed W-9 (or W-8 for non US Citizens) from recipient of “Income Distribution”
Step 2: after receiving W-9 (or W-8), report the distribution on a 1099 form; archive with your documents and forward all copies to to SCV- Treasurer (Me)
IEEE Santa Clara Valley Section Treasurer's Report

22. Financial Management Responsibilities
Your Legal Responsibilities (2/2)
Documentation and Justification
Justify all incurred expenses by cataloguing:
Receipts
Invoices
transcripts
Chapter Secretary (if chapter doesn’t have one, then it’s you) to substantiate any expenditures not adequately described by receipts in meeting minutes
WHY? Paper Trail needed in the event that we are audited
IEEE Santa Clara Valley Section Treasurer's Report

23. IEEE Santa Clara Valley Section Treasurer's Report
Agenda
2014 Recap
Intro
Logistics
Budgeting
Financial Management
Financial Reporting
IEEE Santa Clara Valley Section Treasurer's Report

24. Financial Reporting Responsibilities
For Veteran Treasurers…
Old L50 process no longer exists
New process: Bank Upload Template (“BUTemplate”)
What’s in a BUTemplate
A spreadsheet to be filed monthly where you enter debit/credit transactions and reconcile balances
IEEE Santa Clara Valley Section Treasurer's Report

25. Financial Reporting Responsibilities
End of Every Month
Chapter Treasurer shall prepare monthly bank reconciliation with BUTemplate forms
Tender to SCV Section Treasurer (Ed Aoki and Jason Chan) for auditing and subsequent upload to IEEE Finance
IEEE Santa Clara Valley Section Treasurer's Report

26. Financial Reporting Responsibilities
Do not expect us to file BUTemplates for all 33 SCV OU’s
(46 Accts) x (12 mo’s) = 552 Worksheets
We went through this during late 2014 for beta testing, Section officers had trouble sparing time to go after local bank accounts
OU Treasurer must assume ownership!!!
Any questions or need help with BUTemplate: ask SCV Section officers
IEEE Santa Clara Valley Section Treasurer's Report

27. Financial Reporting Responsibilities
1st Reporting Deadline
All BUTemplate reports (Jan-Oct) must be filed by Nov. 30th to qualify for Section Bonus Sharing
Prepared and Certified by Incumbent OU Treasurer
LOCAL BANK ACCOUNT statements must be attached with BUTemplates for auditing
IEEE Santa Clara Valley Section Treasurer's Report

28. Financial Reporting Responsibilities
2nd Reporting Deadline
BUTemplate reports for entire fiscal year (Jan-Dec) must be filed by Jan. 31st to qualify for Chapter Rebates
Failure to submit all BUTemplate reports
Prepared and Certified by Incumbent OU Treasurer
LOCAL BANK ACCOUNT statements must be attached with BUTemplates for auditing
Incumbent OU Treasurers will use this opportunity to train newly elected Treasurers on filling out Nov and Dec BUTemplates
IEEE Santa Clara Valley Section Treasurer's Report

29. Financial Reporting Responsibilities
A demo on filing BUTemplates will be shown in Session B
The following section also shows step-by-step instructions on how to file monthly BUTemplates
IEEE Santa Clara Valley Section Treasurer's Report

30. IEEE Santa Clara Valley Section Treasurer's Report
Questions?
IEEE Santa Clara Valley Section Treasurer's Report

31. Session B: How to File A BUTemplate
IEEE SCV SECTION
Treasurer Training
Session B: How to File A BUTemplate
Jan. 24, 2015
Jason Chan - SCV Treasurer
IEEE Santa Clara Valley Section Treasurer's Report

32. Filing a BUTemplate in a Nutshell
Step 1: log into IEEE CBRS
Step 2: select the appropriate OU account  click “Show Available Reports”  select CBRS Statements  select “January 20xx”  click “Submit” to open PDF copy and keep it open
IEEE Santa Clara Valley Section Treasurer's Report

33. Filing a BUTemplate in a Nutshell
Step 3: locate the opening and closing balance on the first page of the Jan statement and write it down
Step 4: scroll to the last page of the January CBRS statement and click on “EXCEL_DWNLD” link to open a copy of the corresponding Excel spreadsheet and save the file using your Chapter’s CBRS acct #: “CBRS_[Chapter]_[acct#]_[Mo]_[Yr].xlxs”
Example: “CBRS_EMC_636911_Jan_2015”
IEEE Santa Clara Valley Section Treasurer's Report

34. Filing a BUTemplate in a Nutshell
Step 5: goto the SCV Section Website and download the BUTemplate “Bank _Upload_Template_MGA_SantaClaraValley-2015.xlsx” (link will be provided ASAP)
Step 6: open the BUTemplate “Bank _Upload_Template_MGA_SantaClaraValley-2015.xlsx”
Step 7: save file to your computer with the following file name convention:
BUTemplate_SCV_[Bank]_[Chapter Name]_[Acct #]_[Month]_[Year].xls
Example: BUTemplate_SCV_CBRS_EMC636911_Jan_2015.xls
IEEE Santa Clara Valley Section Treasurer's Report

35. Filing a BUTemplate in a Nutshell
Step 8: “Bank Data” Tab
Select your Geo Unit (SCV), Bank Account (E.g. EMC27), and Reporting Period (Jan)
IEEE Santa Clara Valley Section Treasurer's Report

36. Filing a BUTemplate in a Nutshell
Step 8a: Switch over to the monthly CBRS spreadsheet “CBRS_[Chapter]_[acct#]_[Mo]_[Yr].xlxs”
Highlight the amount column in the transaction table as exemplified below
Right-click the highlighted cells  click Format Cells  click Number Tab  select “Number” in the “category” box
IEEE Santa Clara Valley Section Treasurer's Report

37. Filing a BUTemplate in a Nutshell
Step 8b
Ensure all numeric cells are in “Number format”
Ensure all “Additional Info” cells are in “General” format
Ensure all “Date” cells are in their custom dating format
IEEE Santa Clara Valley Section Treasurer's Report

38. Filing a BUTemplate in a Nutshell
Step 9
Copy all dates from “CBRS_[Chapter]_[acct#]_[Mo]_[Yr].xlxs” and paste in the date column in BUTemplate
IEEE Santa Clara Valley Section Treasurer's Report

39. Filing a BUTemplate in a Nutshell
Step 10
Copy all transaction amounts from “Amounts” in “CBRS_[Chapter]_[acct#]_[Mo]_[Yr].xlxs” and paste in the Amounts column in BUTemplate
IEEE Santa Clara Valley Section Treasurer's Report

40. Filing a BUTemplate in a Nutshell
Step 11a
Copy all transaction amounts from “Amounts” in “CBRS_[Chapter]_[acct#]_[Mo]_[Yr].xlxs” and paste in the Amounts column in BUTemplate
IEEE Santa Clara Valley Section Treasurer's Report

41. Filing a BUTemplate in a Nutshell
Step 11b
For interest payments, fill in “Interest Paid”
For all other annotated transactions, (deposits, transfers, checks paid, revenue, meeting food expense, etc) fill in descriptive details on the nature and purpose of each transactions
OU treasurers are encouraged to be very liberal with the descriptions (we don’t care if it’s a paragraph):
Such descriptions are needed in case we’re audited!!! (Remember your Financial Management Responsibilities on page 20)
It’s easy for OU and Section treasurers to identify proper COA code
IEEE Santa Clara Valley Section Treasurer's Report

42. Filing a BUTemplate in a Nutshell
Step 11b (con’t)
Here’s an example from EMC’s BUTemplate:
IEEE Santa Clara Valley Section Treasurer's Report

43. Filing a BUTemplate in a Nutshell
Step 11b (con’t)
Another example for some trickier transactions requiring some descriptions
IEEE Santa Clara Valley Section Treasurer's Report

44. Filing a BUTemplate in a Nutshell
Step 12
Using the “COA Descriptions” Tab as a reference, apply the most appropriate COA code to each transaction
If unsure, leave blank – the SCV Treasurer will audit and interpret
IEEE Santa Clara Valley Section Treasurer's Report

45. Filing a BUTemplate in a Nutshell
Step 12 (con’t)
Commonly Used COA Codes:
Interest Paid (CBRS): 3.40
Ex-Com meeting Food and Beverages: 4.10
TM Food and Beverages: 4.10
Eventbrite Revenue from regular TM’s or social events: 2.10
Office Supplies: 5.60
Travel Expenses: 5.20
IEEE Santa Clara Valley Section Treasurer's Report

46. Filing a BUTemplate in a Nutshell
Step 13: Reconciliation
Click on “Verify Results” tab in BUTemplate
Enter Acct opening and closing balances (remember, you wrote those down earlier) in their respective fields
If the last column says “Congrats”, then the monthly BUTemplate is successfully reconciled
If it flashes “Warning”, then go back to the CBRS spreadsheet and your check numbers
IEEE Santa Clara Valley Section Treasurer's Report

47. Filing a BUTemplate in a Nutshell
Step 14: File and Send
Upon successful reconciliation, save the file
your BUTemplate along with supporting W-9’s, W-8’s, and 1099’s to the SCV Treasurer for auditing and submission to IEEE Finance
Any questions, ask the Section Treasurer!
IEEE Santa Clara Valley Section Treasurer's Report