Treasurer - Council of Supply Chain Management Professionals

Report
Roundtable Treasurer
One CSCMP
Agenda & Acronyms
Agenda
• People to know
• Facts & Resources
• Treasurer Responsibilities & Activities
• Sponsorships
Acronyms
• RT - Roundtable
• RTSC - Roundtable Service Center
CSCMP Accounting Staff
Paul Blair
Shital Patel
Jill Carrillo
Associate Director,
Finance &
Administration
Staff
Accountant
Staff
Accountant
[email protected]
[email protected]
[email protected]
+1 630.645.3471
+1 630.645.3481
+1 630.645.3491
Finance Process Team
Michelle Quach
Jonathan Smith
St. Louis
Roundtable
Upstate South
Carolina Roundtable
michelle.quach
@bjc.org
jonathan.h.smith
@bigfoot.com
+1 314.709.6116
+1 864.884.1671
YOU?
Important Items To Know
• Roundtables are not chapters: therefore local dues
cannot be charged
• CSCMP is a nonprofit organization: In the US,
CSCMP is considered a 501c(6) which is exempt
from federal income taxes, all other taxes and fees
do apply. In countries outside the US, a VAT or GST
tax may apply.
• CSCMP Insurance Umbrella: CSCMP’s insurance is
extended to roundtables to cover damage, accidents,
and lawsuits with general and professional liability.
•*Please contact the CSCMP Roundtable Service Center if a
Certificate of Liability Insurance is needed for an event
Roundtable Officer Resources
Finance Guidebook
• Full Guidebook
• Treasurer Role and
Responsibilities
• Quick Banking Guide
• Sponsorship Guidelines,
Prospectus,
• and Agreement
Templates
• Treasurer Forms
• Event Receipt
• Invoice
• Reimbursement Request
• Fiscal Audit Letter
On-line Forms
• Roundtable Quarterly Report
• Funds Request via EFT
• Funds Request via Check
https://cscmp.org/roundtable/roundta
ble-officer-resources
Key Responsibilities
•
•
•
•
Prepare annual budget
Provide tracking & visibility of financial performance
Ensure books are audited annually
Manage A/R and A/P
• Communicate financial concerns and wins
• Optimize cash flows & continually improve
processes
• Provide training during the treasury transition period
Major Activities (Chronological)
1.
2.
3.
4.
5.
6.
7.
Secure access to banking services
Prepare Annual Budget
Establish Event Fees
Provide Venue Meal Guarantees
Manage A/R and A/P
Maintain Receipts
Prepare & Maintain Accurate Financial Records:
•
•
Quarterly Report
Annual Audit
Banking Services
• Move to Wells Fargo OR provide view-only
access to Paul Blair, Associate Director,
Finance & Administration
• Visibility assures accurate financial reporting
to IRS
• At a minimum, two RT board members are on
the bank accounts at all times:
1. Treasurer
2. President or VP of Programs
*Effective July 1, 2014 , the RTSC bears the responsibility to open bank
accounts on behalf of the RTs.
*More information under CSCMP’s website: Roundtable Officer Resources
Budgeting
• A budget is a guide for planning the
roundtable’s activities and tracks financial
performance.
• Once a roundtable’s goals are set for the
year, the budget is developed.
• A budget can be adjusted throughout the year
if revenue and expense trends are different
from the original budget forecast.
• A budget measures the event’s P&L
• CSCMP Budget Tool:
https://cscmp.org/roundtable/roundtable-officer-resources
Event Pricing
• Recommend event pricing that ensures
financial sustainability
o “CSCMP is nonprofit but we are also not for loss.” – Michelle
Quach
• Pricing Structure:
o Standard Events: Guests have a 25% differential from members
o Non-Standard Events: Guests have a 50% differential from
members
• Revenue Sharing
o 50/50% split between guest pricing differential will be shared
between the RTSC and the RT
Cash Flow: A/R and A/P
Accounts Receivables
• Registration Fees
• Sponsorships
• Investment
Options w/
CSCMP approval
Accounts Payables
•
•
•
•
Event expenses
Scholarships
SC Pro Sponsorship
AGC Student
Sponsorships
• Operational
Expenses
• Leadership Forum
Expenses
Bill Paying & Record Keeping
1. Maintain the records on checking account for RT
to ensure financial reporting is accurate
2. Maintain the records on a savings account or
CD through the RTSC
3. Keep original receipt and invoice for each
disbursement
4. Maintain a record of all deposits and expenses
5. CSCMP Checkbook Tool: Included in the budget file
6. CSCMP Invoice Template:
https://cscmp.org/roundtable/roundtable-officer-resources
Reimbursements
• Ensures proper record keeping is in place.
• Allows formal documentation of the purpose
of an expense.
• Sets a deadline for the treasurer to reimburse
the RT team member
• Reimbursement Template:
Credit Card Registration Funds
• Credit card transactions processed by RTSC
• To receive, use on-line "Funds Request" forms
under Roundtable Officer Resources
• By check or ETF (Electronic Funds Transfer)
• Funds sent in about one week
• 3% transaction fee deducted
https://cscmp.org/roundtable/roundtable-officer-resources
CC Readers for Onsite Payment
• Device operated by an APP that is downloaded to
a smart phone
• No cost to RT other than regular 3% credit card
transaction fee
• Instructions included & training provided by RTSC
• Device not aligned with DRUPAL at this time but
we have a process to manage alongside DRUPAL
• If interested, indicate on signup sheet
Quarterly Financial Report
• The roundtable
president submits the
quarterly report online by
the 15th of the month
following the end of each
quarter.
• The quarterly report
should reflect the cash
balance, not necessarily
the bank account balance.
https://cscmp.org/roundtable/roundtable-quarterly-report
Quarterly Financial Report Compliance
• 13 of 60 RT’s reporting
= 22%
• 6 in full compliance
= 10%
Roundtable
Baltimore
Central Michigan
Charlotte
Cincinnati
Eastern Michigan
Jacksonville
National Capital Area
New England
NYCONN
San Diego
Southern California
St. Louis
Sweden
Reports received
7/1/13-4/30/14
3
4
4
2
4
3
1
3
3
3
4
4
4
Annual Audit
• Formal annual
audit due July 31 of
every year
o Submitted by incoming RT
president
o Email to Denise Rivers:
[email protected]
• Informal audits
encouraged
o Prepared by a
disinterested person, such
as an accountant or
provide official bank
statements to the RT
president.
https://cscmp.org/roundtable/roundtable-officer-resources
Reporting and Metrics
Performance to Budget
$1,600
$1,400
$1,200
Expenses
$1,000
$800
Contribution by
Membership Type
Budget
CSCMP
Member
8%
$600
$400
$200
Students
26%
$0
Sep
Oct
Nov
Jan
Feb
Mar
Apr
May
Profitability Report by Event
$700,000
$600,000
$500,000
Profit
$400,000
Expenses
$300,000
$200,000
$100,000
$0
Sep
Oct
Nov
Jan
Feb
Mar
Apr
May
CSCMP
Member
YP
26%
CSCMP
NonMember
40%
Sponsorships
• What Can’t Be Sponsored:
•
Any speaker or part of a program
• What Can Be Sponsored:
•
•
•
Student sponsorships to AGC
Student scholarships
Seminar bags, lanyards, etc.
•
•
•
•
Pre-meeting networking reception
Post-meeting networking reception
Event meals
Beverage breaks
• RT Sponsorship Agreement:
•
Available on CSCMP’s website:
https://cscmp.org/roundtable/roundtable-officer-resources
• Reporting:
•
The quarterly report must account for sponsorship revenue and
expenses separately.
Q&A
Appendix: Sponsorship Details
CSCMP Sponsorship Philosophy:
•
•
•
All programming must be unbiased
Sponsors will have NO direct or implied input, or involvement in
programming
Sponsorships are allowed by RT Officer/cabinet member companies
with written documentation that there is no link to the sponsor company
soliciting, securing, or retaining a position on the local RT board
Implications:
•
•
If a local Roundtable accepts sponsorship funds for an event, it will be
imperative that the Roundtable does not endorse the sponsor’s product
or encourage roundtable members to use or buy the sponsor’s product.
The sponsor can only be a sponsor, and not be perceived in any way
as an entity or product endorsed by CSCMP or the Roundtable.
Appendix: Sponsorship Details
What a Sponsor Receives
•
•
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•
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Align company with the CSCMP brand, maximizes credibility among
the supply chain industry
Sponsored event’s registration list, the entire database is never
provided to a sponsor.
Recognition within policies, sponsor cannot be promoted but the
master of ceremonies can thank the sponsor at the podium
Networking Access, access to network with key companies
Promotion Materials, opportunity to communicate supply chain
professionals

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