Roundtable Treasurer

Roundtable Treasurer

One CSCMP

Agenda & Acronyms

Agenda• People to know• Facts & Resources• Treasurer Responsibilities & Activities• Sponsorships

Acronyms• RT - Roundtable• RTSC - Roundtable Service Center

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CSCMP Accounting Staff

Paul BlairAssociate Director,

Finance & Administration

[email protected]+1 630.645.3471

Shital PatelStaff

Accountant


Jill CarrilloStaff

Accountant


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Finance Process Team

Michelle QuachSt. Louis

Roundtable

[email protected]

+1 314.709.6116

Jonathan Smith

Upstate South Carolina

Roundtable

[email protected]

+1 864.884.1671

YOU?

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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

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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/roundtable-officer-resources

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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

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Major Activities (Chronological)

1. Secure access to banking services2. Prepare Annual Budget3. Establish Event Fees4. Provide Venue Meal Guarantees5. Manage A/R and A/P6. Maintain Receipts7. Prepare & Maintain Accurate Financial Records:

• Quarterly Report• Annual Audit

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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. Treasurer2. 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 J

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:

Treasurer Template

https://cscmp.org/roundtable/roundtable-officer-resourcesJ



Event Pricing

• Recommend event pricing that ensures financial sustainabilityo “CSCMP is nonprofit but we are also not for loss.” – Michelle

Quach

• Pricing Structure:o Standard Events: Guests have a 25% differential from memberso Non-Standard Events: Guests have a 50% differential from

members

• Revenue Sharingo 50/50% split between guest pricing differential will be shared

between the RTSC and the RT

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Cash Flow: A/R and A/P

• Registration Fees• Sponsorships• Investment

Options w/ CSCMP approval

• Event expenses• Scholarships• SC Pro Sponsorship• AGC Student

Sponsorships• Operational

Expenses• Leadership Forum

Expenses

Accounts Receivables Accounts Payables

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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 expenses5. CSCMP Checkbook Tool: Included in the budget file

6. CSCMP Invoice Template: Invoice Template




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: Reimbursement

Form

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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




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

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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 M

https://cscmp.org/roundtable/roundtable-quarterly-report

https://cscmp.org/roundtable/roundtable-quarterly-report

Quarterly Financial Report Compliance

Roundtable Reports received 7/1/13-4/30/14

Baltimore 3Central Michigan 4Charlotte 4Cincinnati 2Eastern Michigan 4Jacksonville 3National Capital Area 1New England 3NYCONN 3San Diego 3Southern California 4St. Louis 4Sweden 4

• 13 of 60 RT’s reporting = 22%

• 6 in full compliance= 10%

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Annual Audit

• Formal annual audit due July 31 of every yearo Submitted by incoming RT

presidento Email to Denise Rivers:

[email protected]

• Informal audits encouragedo Prepared by a disinterested

person, such as an accountant or provide official bank statements to the RT president. Audit Template




Reporting and Metrics

Sep Oct Nov Jan Feb Mar Apr May$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000 Profitability Report by Event

Profit

CSCMP Member; 8%

CSCMP Non-Mem-ber; 39%

CSCMP Mem-ber YP;

26%

Stu-dents; 26%

Contribution by Membership Type

Sep Oct Nov Jan Feb Mar Apr May$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600 Performance to Budget

Expenses

Budget

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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.

• RT Sponsorship Agreement:• Available on CSCMP’s website:

• Reporting:• The quarterly report must account for sponsorship revenue and expenses separately.

• Pre-meeting networking reception• Post-meeting networking reception• Event meals• Beverage breaks

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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• 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

Roundtable Treasurer

Documents

Transcript of Roundtable Treasurer