1. IEEE Santa Clara Valley Section Treasurer's Report1 IEEE SCV SECTION Treasurer Training Session A: Back to Basics Jan. 24, 2015 Jason Chan - SCV Treasurer

2. Agenda  2014 Recap  Intro  Logistics  Budgeting  Financial Management  Financial Reporting IEEE Santa Clara Valley Section Treasurer's Report2

3. 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 Report3

4. 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 1 st 9-10 months worth of reports helps a lot to meet Feb 15 th 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 Report4

5. 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 Report5

6. Agenda  2014 Recap  Intro  Logistics  Budgeting  Financial Management  Financial Reporting IEEE Santa Clara Valley Section Treasurer's Report6

7. 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… IEEE Santa Clara Valley Section Treasurer's Report7 Well, it’s a bit more than just cutting checks

8. 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 Report8

9. 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 Report9

10. Agenda  2014 Recap  Intro  Logistics  Budgeting  Financial Management  Financial Reporting IEEE Santa Clara Valley Section Treasurer's Report10

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 Report11

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 signatories @ local bank IEEE Santa Clara Valley Section Treasurer's Report12

13. Agenda  2014 Recap  Intro  Logistics  Budgeting  Financial Management  Financial Reporting IEEE Santa Clara Valley Section Treasurer's Report13

14. Budgeting Responsibilities Beginning of the Year… Craft a budget  Work with your fellow officers before the Chapter’s 1 st meeting of the new year  Use previous year’s financials to estimate income vs. spending IEEE Santa Clara Valley Section Treasurer's Report14

15. Budgeting Responsibilities IEEE Santa Clara Valley Section Treasurer's Report15  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

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 Report16

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 Report17

18. Budgeting Responsibilities IEEE Santa Clara Valley Section Treasurer's Report18 Rebate Components Section Bonus 1 st Tier $200 HQ Bonus 2 nd Tier $75 HQ Bonus Section Bonus Sharing See “Rebate Process Flow - 2015.PDF” for further details on rebate distribution formulas

19. Agenda  2014 Recap  Intro  Logistics  Budgeting  Financial Management  Financial Reporting IEEE Santa Clara Valley Section Treasurer's Report19

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 Report20

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 Report21

22. Financial Management Responsibilities Your Legal Responsibilities (2/2)  Documentation and Justification Justify all incurred expenses by cataloguing:  Receipts  Invoices  Email 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 Report22

23. Agenda  2014 Recap  Intro  Logistics  Budgeting  Financial Management  Financial Reporting IEEE Santa Clara Valley Section Treasurer's Report23

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 Report24

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 Report25

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 Report26

27. Financial Reporting Responsibilities  1 st Reporting Deadline All BUTemplate reports (Jan-Oct) must be filed by Nov. 30 th 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 Report27

28. Financial Reporting Responsibilities  2 nd Reporting Deadline BUTemplate reports for entire fiscal year (Jan- Dec) must be filed by Jan. 31 st 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 Report28

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 Report29

30. Questions? IEEE Santa Clara Valley Section Treasurer's Report30

31. IEEE Santa Clara Valley Section Treasurer's Report31 IEEE SCV SECTION Treasurer Training Session B: How to File A BUTemplate Jan. 24, 2015 Jason Chan - SCV Treasurer

32. Filing a BUTemplate in a Nutshell  Step 1: log into IEEE CBRS https://webapps1.ieee.org/CBRS_login/cbrslogin.js p https://webapps1.ieee.org/CBRS_login/cbrslogin.js p  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 Report32

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 Report33

34. Filing a BUTemplate in a Nutshell o 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 Report34

35. Filing a BUTemplate in a Nutshell o Step 8: “Bank Data” Tab o Select your Geo Unit (SCV), Bank Account (E.g. EMC27), and Reporting Period (Jan) IEEE Santa Clara Valley Section Treasurer's Report35

36. Filing a BUTemplate in a Nutshell o Step 8a: Switch over to the monthly CBRS spreadsheet “CBRS_[Chapter]_[acct#]_[Mo]_[Yr].xlxs” o Highlight the amount column in the transaction table as exemplified below o Right-click the highlighted cells  click Format Cells  click Number Tab  select “Number” in the “category” box IEEE Santa Clara Valley Section Treasurer's Report36

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 Report37

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 Report38

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 Report39

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 Report40

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 Report41

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 Report42

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 Report43

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 Report44

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 Report45

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 Report46

47. Filing a BUTemplate in a Nutshell  Step 14: File and Send Upon successful reconciliation, save the file Email 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 Report47