Inbound Journey Treasurer Workshop

Review of Documents FFI Policies and Guidelines for Clubs and Programs (2017-18 version) https://www.thefriendshipforce.org/resources/#panel-policies FFO Guidelines Journey Treasurers Inbound and Outbound BMO Banking Fees Excel template Instructions

Friendship Force Journey Programs Page 4 Four types of inbound Journeys: International Club to Club Journeys – one week (5-7 nights) program between clubs from different countries Domestic Club to Club Journeys – Up to 7 nights between clubs within a country Stopover – 1-4 nights homestay while traveling to or from an International Club to Club Journeys Global – Ambassadors from anywhere in the world with a special focus and variable duration

Host Club Fees Page 6 International Journey - basic fee $150 USD; Any amount over $150 USD, the Ambassador Coordinator must be provided and agree with the cost of each program event Global and Domestic Journeys and Stopover – fee set on a case-by-case basis, to be worked out and agreed upon by the Ambassador and Host Coordinators.

Host Club Fees (Cont’d) Page 6 Used to pay the cost of group activilies. Should not cover the cost of transportation from/to arrival/departure site (airport) to the local community. are normally transferred directly from the ambassador club to the host club in a mutually acceptable manner, unless otherwise authorized by FFI. The Host Club Program Fee is non-refundable if an ambassador cancels from the journey less than 60 days prior to departure (journey start)

Review of Documents FFI Policies and Guidelines for Clubs and Programs FFO Guidelines Journey Treasurers Inbound and Outbound (Feb 2018 version) http://www.friendshipforceottawa.ca/guideli nes_for_j_treas_inbound_and_outbound_feb _2018.pdf BMO Banking Fees Excel template Instructions

Inbound Journey Treasurer Role and Responsibilities Pages 3, 4 & 5 Financial Planning and budgeting – Critical to end up with a net zero balance: Identify all journey costs and income. Banking, Book and Record Keeping – Opening and closing a community bank account*, deposit all income, write cheque to pay expenses* and keep a journal of all transactions * Require second unrelated signature, normally the AC, best if living close by Financial Reporting – to Hosting Committee, FFO Treasurer and Ambassador Coordinator (upon request) General Financial Oversight – Ensure financial decisions are in accordance with FFO guidelines

Opening Bank Account Pages 5, 6 & 7 JT & AC choose a convenient BMO branch JT & AC open a community bank account 70 to 90 days prior to journey start “FFO Journey # XXXXX” where X is the FFI-identified journey # Request documents from FFO President Letter of authorization AGM Minutes indicating FFO executive & FFO BY-Laws (for new branch only) ID with photo required Request 100 cheques, Online monthly statements, deposit book, bank card and accept Interact e-Transfer deposit JT & AC - The second individual does not have to be the AC. It is best if the second individual lives near the Journey treasurer.

Income & Disbursement Pages 7 & 8 Income via cheque, Interact e-transfer, Cash Disbursement via cheque, wire transfer at bank with AC All incomes and disbursements must be recorded sequentially in the journey journal including bank fees and periodically reconciled with the bank statement Invoices or Receipts are required for all disbursements Caution – do not write last cheque near end of month

Income Page 9 & 10 Sources of income Ambassadors’ payment of the hosting program fee (Due 60 days prior to Journey start date); and FFO Member payments to attend specific event(s) Fund advance (up to $500 from FFO) – If required to pay venue deposit(s) prior to receiving the Ambassador’s payment. Must be paid back.

Expenses Pages 10 Two types of expenses Administration costs – postage, bank fees, booklets, Ambassador’s gift bags, AC gift … Hosting Program Event expenses *If the event participation by FFO Member(s) increases the cost of the event, that increase must be paid by the FFO Member participating

Refund Pages 13 Hosting Program fees – not refundable once paid (60 days prior journey)* Any residual from withdrawn applicant must be transferred to FFO main account Upon cancellation, FFO member payment for an activity may be reimbursed prior to the event as long as the activity is self sustained.

Review of Documents FFI Policies and Guidelines for Clubs and Programs FFO Guidelines Journey Treasurers Inbound and Outbound BMO Banking Fees (16 Apr 2018 version) https://www.bmo.com/pdf/better-banking- guide-business-en.pdf Excel template Instructions

Community Account Banking Fees Pages 11 - 12 $2.50 - monthly administration fee, if minimum monthly balance < $5,000; $1.25 - per transaction (20 free per month); $1.25 - per teller deposit (5 free per month); $0.20 - per cheque deposited (25 free per month); $3.00 – monthly paper statement (free monthly e-statement).

BMO Sundry Fees Pages 13 - 16 $20.00 - Account closed within 90 days of opening; $7.00 - per deposited NSF cheques; $48.00 - per written NSF cheques; $7.50 - per foreign currency money order or draft (free for USD money order); $14.00 - Wire transfer payment received.

Both Signatory Requirement Both signatory must be present for: Open or close a journey account; Initiate a Wire Transfer; Request a Money order or draft; and Both must sign cheques to pay expenses.

Review of Documents FFI Policies and Guidelines for Clubs and Programs FFO Guidelines Journey Treasurers Inbound and Outbound BMO Banking Fees Excel template Instructions

Template Overview Instruction Tab – Provides the overview information about the Excel template Budget Tab – Area to enter the expected administrative income and expenses to ensure a net zero balance. Event Planner Tabs – Areas to enter the expected income and expenses for each specific activity Journal Tab – Area to record all transactions as they happen. All income should be entered as “Ambassador Receipts” or “=C$84” in column C

Template Overview (Cont`d) Inbound Details Tab – Area to track income and expenses associated with each FFO member thus calculating their individual refund Inbound Budget Report Tab – New tab which is a report of the budget information in a concise format for presentation at committee meeting Summary-Source & Use of Funds Tab – Automated report showing Actual vs Budget and Variances Note Macros must be enable for the Inbound Budget Report button to work