1. Planning For Excellence Budget & Finance MEMBERSHIP ORIENTATION October 7-11, 2009 New Braunfels, TX Jim Dambeck 2010 WCR Texas Treasurer GRI,ABR,CNHS,SRES,PMN jim@jimdambeck.com 832.687.2520 cell 713.538.1850 efax Carolyn Sutherlin 2004 WCR Texas President ABR,GRI,LTG,PMN csutherlin@abilene.com 325.668.9962 cell 325.695.5313 fax csutherlin@abilene.com

2. Planning For Excellence Dollars & Sense  Chapter Budgets  Treasurer Duties  Audits and Reserve Accounts  Legal Issues

3. Chapter Budget What is It? The Forecast of Financial Activity over a period of time.

4. (1) F & B Committee Researches History & Future Needs Budget Planning Cycle (2) F & B Develops Budget for Upcoming Year (3) Governing Board Approves for Upcoming Year (4) Approved Budget Presented to Chapter Members (1) F & B Committee Researches History & Future Needs

5. Chapter Budget WHY have a budget at all?  Gives Governing Board a roadmap to follow based on what has been budgeted for 2010  Puts your Chapter on the right track for planning a successful year

6. Budget ~ What’s Included? Revenue  Monies carried forward from previous year(s)  Membership Money (# of Nat’l Members x Local Dues)  Local Affiliate Memberships (# of Affiliates X Annual Affiliate Dues)  Strategic Partner Money (Annual / Monthly Partners)  Ways and Means Money (Money from Chapter Events)  Other Revenue:

7. Budget ~ What’s Included? Expenses  Awards (Member of the Year, etc.)  Bank Service Charges  Discretionary Fund (Flowers, Memorials)  Education (MCE classes, PMN course)  Monthly Programs (Breakfast/Luncheon Expense)

8. Expenses  New Membership Orientation (Orientations, Pins, etc.)  Newsletters (E-blast / Design Cost)  Leadership Development (Officer Travel to National/State/Regional/District)  Leadership Orientation (National LO for PE, State MO for officers & committee chairs)  Website (Set-up, Monthly Fees) Budget ~ What’s Included?

9. Expenses  Office Supplies (Postage, Printing)  Professional Services (Insurance, CPA)  Strategic Initiatives (Education Scholarships, Funds for non-officer members to attend State/National meetings  Ways & Means Expenses  Other Expenses:

10. So…now you are the Treasurer  PARTICIPATE on your Chapter’s Budget Committee  Use 2009 Budget & YTD info as guide  Use LPPM as a guide (pages 41-43)pages 41-43  Have your Budget in place by Jan 1 st 2010!

11. Duties of the Treasurer Duties of the Treasurer see page 29 LPPM  Treasurer is in charge of all funds and makes disbursements/reimbursements as directed by the President AND THE Governing Board.  Keeps all receipts and disbursement forms and provides reports at all regular meetings.  Coordinates with Finance & Budget Chair so that financial statements are reviewed monthly.  Completes a mid-year review with Finance & Budget and makes recommendations to the Board if necessary to end the year BALANCED.

12. Duties of the Treasurer  Have a clearly defined Policy for reimbursable expenses in your Standing Rules  Give reimbursement for budgeted/approved expenditures only (stay within the budget)  Have a deadline for submitting receipts  Use an Expense Request Form  Keep Records in case of an IRS audit Handling Reimbursements

13. Duties of the Treasurer  Asks questions about any discrepancy between budgeted and actual expenses.  Submits the financial accounts of the chapter to a CPA or bookkeeper to file with IRS.  Gives receipts for collection of cash, keeps copy of transaction for Chapter’s permanent records.  Provides records to chapter Audit Committee for annual review.

14. Duties of the Treasurer Fiduciary Obligation The legal requirement to care for another’s assets as you would your own... to provide meaningful oversight!

15. Duties of the Treasurer Meaningful Oversight Meaningful oversight involves more than an occasional look at the budget. It means to your Chapter’s financials to remain balanced! constantly monitor

16. Audits and Reserves  President appoints Audit Committee at the next to the last meeting of the elective year.  Audit is Check and Balance System that validates information and protects both Treasurer and Chapter.  Audit Committee presents report at the first meeting of the next year.  Each Chapter should seek to maximize financial resources to best advantage and generate systems to protect member funds.

17. Chapter Legal Issues Chapter Legal Issues page 137 LPPM  Every chapter should have a Tax ID number and the letter stating the exempt status.  Every chapter must file an information return with the IRS. - Form 990 (gross income or assets $25,000 or more) or form 990N “Epostcard” (less than $25,000) For more information click here.click here  Filing deadline is May 15 th.

18. Take your Chapter to New Heights & a Well Planned 2010!