2. Best Council, BSA Council Training Syllabus 1 Financial Management For Council Events & Activities

3. Best Council, BSA Council Training Syllabus 2 Learning Objectives Explain the importance of financial management for council events and activities. Explain the steps required for financial planning and management of a council event or activity. Demonstrate the use of the Council Event Budget form for both planning and reporting purposes. Explain council policies and procedures dealing with purchase requisitions, reimbursement checks, and event closeout reports. Explain the importance of financial management for council events and activities. Explain the steps required for financial planning and management of a council event or activity. Demonstrate the use of the Council Event Budget form for both planning and reporting purposes. Explain council policies and procedures dealing with purchase requisitions, reimbursement checks, and event closeout reports.

4. Best Council, BSA Council Training Syllabus 3 Introduction 1.Protect our council’s volunteers 2.Enact proper controls over council resources 3.Have and maintain auditable records, certain fundamental accounting procedures are required to be followed 1.Protect our council’s volunteers 2.Enact proper controls over council resources 3.Have and maintain auditable records, certain fundamental accounting procedures are required to be followed What’s the Big Deal?

5. Best Council, BSA Council Training Syllabus 4 Event Financial Planning Before the Event… Event Budgets Purchase Requisitions/ Council Charges Petty Cash/ Specific Checks for Items Emblems/ Patches or Other Customized Items Event Budgets Purchase Requisitions/ Council Charges Petty Cash/ Specific Checks for Items Emblems/ Patches or Other Customized Items

6. Best Council, BSA Council Training Syllabus 5 Event Budgets Must be submitted and approved prior to the event Includes a 15% contingency plan for unforeseen expenses Budget must show a positive (+) gain Must be submitted and approved prior to the event Includes a 15% contingency plan for unforeseen expenses Budget must show a positive (+) gain

7. Best Council, BSA Council Training Syllabus 6 Event Budgets Only the “shaded” areas need to be completed Ensure that all expense items are accounted for in the budget Only the “shaded” areas need to be completed Ensure that all expense items are accounted for in the budget

8. Best Council, BSA Council Training Syllabus 7 Event Budgets Let’s Practice!!! Use the Event Budget form to plan a mock activity. Let’s Practice!!! Use the Event Budget form to plan a mock activity.

9. Best Council, BSA Council Training Syllabus 8 Purchase Requisitions/ Council Charges Submit requests at least 2 weeks prior to the desired receiving date (some items require more lead time) Purchase requisitions shall designate: how many items to purchase, what the item(s) are, how much each will cost, where they will be purchased and the name of the budgeted area to which the expense is to be recorded Submit requests at least 2 weeks prior to the desired receiving date (some items require more lead time) Purchase requisitions shall designate: how many items to purchase, what the item(s) are, how much each will cost, where they will be purchased and the name of the budgeted area to which the expense is to be recorded

10. Best Council, BSA Council Training Syllabus 9 Petty Cash/Specific Checks for Items Checks before the event can only be issued based on the amount received for the event through the date of the request and based upon a review of prior obligation for expenses. Requests should be made 2 weeks prior to the event or date of need.

11. Best Council, BSA Council Training Syllabus 10 Emblems/Patches or Other Customized Items Allow 8-10 weeks for orders to be processed once the quote has been received and accepted. All items must be reviewed by the Scout executive or authorized council designee. Be sure the vendor has been approved by National Supply, BSA before placing an order.

12. Best Council, BSA Council Training Syllabus 11 Event Financial Management During the Event… Field Receipts Managing Petty Cash Expenses Managing Collected Money Field Receipts Managing Petty Cash Expenses Managing Collected Money

13. Best Council, BSA Council Training Syllabus 12 Field Receipts Field Receipts must be issued to the person submitting the money for all money received during the event. –Registration Fees –Trading Post Sales –Yearly Dues Field Receipts must be issued to the person submitting the money for all money received during the event. –Registration Fees –Trading Post Sales –Yearly Dues

14. Best Council, BSA Council Training Syllabus 13 Field Receipts A copy of the field receipt is required to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council.

15. Best Council, BSA Council Training Syllabus 14 Managing Petty Cash Expenses 1.A copy of the field receipt is required to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council. Petty Cash check is requested from the Scout Service Center at least 4 weeks in advance of the event or activity. 2.Once petty cash check is received, cash check for use during the event. 3.All petty cash expenses should be recorded on the Petty Cash form and the associated sales receipt enclosed in an attached envelope 1.A copy of the field receipt is required to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council. Petty Cash check is requested from the Scout Service Center at least 4 weeks in advance of the event or activity. 2.Once petty cash check is received, cash check for use during the event. 3.All petty cash expenses should be recorded on the Petty Cash form and the associated sales receipt enclosed in an attached envelope

16. Best Council, BSA Council Training Syllabus 15 Managing Petty Cash Expenses 4.At the close of the event, list the balance petty cash amount and include in the attached envelope. Reconcile all expenses and the remaining balance against the initial petty cash check amount. 5.Turn in petty cash form, receipts, and outstanding balance to the Scout Service Center or to a bonded employee. 4.At the close of the event, list the balance petty cash amount and include in the attached envelope. Reconcile all expenses and the remaining balance against the initial petty cash check amount. 5.Turn in petty cash form, receipts, and outstanding balance to the Scout Service Center or to a bonded employee.

17. Best Council, BSA Council Training Syllabus 16 Managing Collected Money Money should be stored in a locked location at all times during the event. Store all field receipts with the money at all times in order to avoid losing the required receipts for the collected money. When youth are working with registrations or trading post sales, always ensure that a responsible adult is assisting with the money collection. Money should be stored in a locked location at all times during the event. Store all field receipts with the money at all times in order to avoid losing the required receipts for the collected money. When youth are working with registrations or trading post sales, always ensure that a responsible adult is assisting with the money collection.

18. Best Council, BSA Council Training Syllabus 17 Managing Collected Money Always keep money collected for different purposes separate. For example, use one envelope to collect registration fees, another envelope to collect trading post sales, and a third envelope for money collected for the World Brotherhood of Scouting fund. The Scout Service Center is required to process these collections differently (i.e. trading post sales require taxes to be paid). Whenever possible, always entrust collected money to a bonded council employee for holding during the event. Always keep money collected for different purposes separate. For example, use one envelope to collect registration fees, another envelope to collect trading post sales, and a third envelope for money collected for the World Brotherhood of Scouting fund. The Scout Service Center is required to process these collections differently (i.e. trading post sales require taxes to be paid). Whenever possible, always entrust collected money to a bonded council employee for holding during the event.

19. Best Council, BSA Council Training Syllabus 18 Event Financial Closeout After the Event… Reimbursement Requests Budget Closeout Report any accidents Reimbursement Requests Budget Closeout Report any accidents

20. Best Council, BSA Council Training Syllabus 19 Reimbursement Requests Reimbursements must be submitted with a copy of the sales receipt to be approved for payment. No reimbursements will be made without a detailed receipt accounting for the expense and prior authorization from the Scout executive. Reimbursements must be submitted with a copy of the sales receipt to be approved for payment. No reimbursements will be made without a detailed receipt accounting for the expense and prior authorization from the Scout executive.

21. Best Council, BSA Council Training Syllabus 20 Budget Closeout Must be submitted within 7 days after the event or activity. Use the same “approved” budget form to record actual revenue and expenses for the event. Needed to help prepare future budgets for similar events. Must be submitted within 7 days after the event or activity. Use the same “approved” budget form to record actual revenue and expenses for the event. Needed to help prepare future budgets for similar events. Let’s Practice Again!

22. Best Council, BSA Council Training Syllabus 21 Accident Reports Within 3 days after the date of the completion of the event, complete a report to Scout Service Center indicating any injuries incurred. If insurance claims are filed against these injuries, the council needs to know about them as soon as possible.

23. Best Council, BSA Council Training Syllabus 22 Summary All events will require budgets which do not reflect a loss on the project. No expenses may be incurred for a council event or activity until a budget has been submitted and approved. Each event budget requires a provision for unexpected expenses equal to 15% of total expenses budgeted All events will require budgets which do not reflect a loss on the project. No expenses may be incurred for a council event or activity until a budget has been submitted and approved. Each event budget requires a provision for unexpected expenses equal to 15% of total expenses budgeted

24. Best Council, BSA Council Training Syllabus 23 Summary All monies/fees collected for district and council events, supply sales, product sales, etc. should be mailed to, received by and processed/receipted by the Scout Service Center prior to deposit into the corporate account. Money received at the time of the event requires: (1) a field receipt be issued to the one submitting the money and (2) a copy of the field receipt to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council. All monies/fees collected for district and council events, supply sales, product sales, etc. should be mailed to, received by and processed/receipted by the Scout Service Center prior to deposit into the corporate account. Money received at the time of the event requires: (1) a field receipt be issued to the one submitting the money and (2) a copy of the field receipt to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council.

25. Best Council, BSA Council Training Syllabus 24 Summary It is always appropriate to turn over field receipt copies and monies collected to a bonded employee for immediate transfer to Scout Service Center and deposit into the corporate account. Disbursements to pay expenses should be paid directly by Scout Service Center. No revenue collected should be used for expenses during the event. Payment of expenses by volunteers for which reimbursement is requested must be: (1) based on the approved budget, (2) supported by receipts, invoices, etc., and (3) have prior authorization by the Scout executive. It is always appropriate to turn over field receipt copies and monies collected to a bonded employee for immediate transfer to Scout Service Center and deposit into the corporate account. Disbursements to pay expenses should be paid directly by Scout Service Center. No revenue collected should be used for expenses during the event. Payment of expenses by volunteers for which reimbursement is requested must be: (1) based on the approved budget, (2) supported by receipts, invoices, etc., and (3) have prior authorization by the Scout executive.

26. Best Council, BSA Council Training Syllabus 25 Any Questions?