1. Financial Responsibility Catherine Oakes, CPA SCTE Headquarters SVP, Operations Tim Funk Comcast Communications Great Lakes Chapter

2. Treasurer’s Fiduciary Responsibilities Funds used to accomplish SCTE Mission Keep accurate financial records Enforce financial internal controls Follow policies, procedures & bylaws Safeguard funds Keep chapter board informed

3. Why so many policies? Internal Revenue Service Tax-exempt purpose Members best interest Safeguard assets

4. Managing Chapter Funds Accurate and complete financial records Supporting documentation Reasonable and approved expenditures Transactions that adhere to exempt purpose No personal benefit to anyone

5. Income Cash handling Deposits Credit card transactions No advertising income Disclosure Statement required Supporting documentation

6. Expenses Pay by check Original invoice or check request No SCTE credit cards $100 petty cash limit Board member expense reimbursements Approved and reasonable expenses only

7. Record Keeping Receipts and Disbursements journal Chapter programs and events Operating expenses Bank reconciliations Quarterly Reports Submit to SCTE headquarters

8. Cash Petty Cash - $100 maximum Checks –signature requirements Use of ATM/debit cards Bank account balances/reserves

9. Internal Controls and SCTE Policies Supporting documentation Check signing policy Bank Signature cards Investments Credit Card transactions Expense reimbursements Cash handling Prize policy Raffle tickets and other games of chance No Advances or loans No debt financing Charitable Contributions

10. Credit Card Processing Chapter Leadership Access Site (CLAS) PayPal not approved Processing through SCTE A/P Two week turn around from SCTE 3% Fee Procedures and processing form

11. Forms 1099 Anyone receiving over $600 Services rendered (volunteers are not paid) Prizes Submit info to SCTE staff (A/P or Chapters)

12. Nonprofit Crack Down! Sarbanes Oxley Rules Revised IRS Form 990

13. Raffle Tickets and Gaming New Schedule G of Form 990 Cumbersome and detailed IRS reporting needed for any games of chance and Bingo

14. Financial Responsibility Questions??

15. Financial Responsibility Catherine Oakes, CPA SCTE Headquarters VP, Finance and Administration coakes@scte.org 610.594.7328