1. Roundtable Treasurers and Presidents Monthly Call January 2015

2. CSCMP Accounting Staff

3. 2014-15 Finance Process Team

4. Successes YTD 1.Southern California – Using Quick Books 2.New Jersey – Set up on-line account access 3.Upstate South Carolina – On-line banking under Wells Fargo CSCMP umbrella has simplified Treasurer’s role

5. Challenges YTD 1.Southern California – Group registrations in Drupal are cumbersome at best –This issue will be addressed with new technology that should be rolled out in mid-2015 to replace/augment Drupal 2.New England – Like herding cats to build a budget –Budget using averages and hold people accountable for explaining variances for actual expenses (forces analysis of expenses) 3.Utah-Idaho – Difficulties transferring responsibilities and bank account access from the former treasurer to the new –Banking with Wells Fargo under the CSCMP umbrella can greatly ease this

6. Requesting Event Funds Request funds shortly after event is completed! Best practice to match revenue with expenses Keeps RTSC from having unaccounted-for funds Use two online forms under Roundtable Officer Resources 1.Roundtable Electronic Transfer Setup RequestRoundtable Electronic Transfer Setup Request One-time form to provide banking information for setting up an Electronic Funds Transfer (EFT) process RT’s on Wells Fargo do not need to complete this form 2.Event Funds Transfer RequestEvent Funds Transfer Request Complete after each event Funds sent by check if no EFT process established

7. Banking Policy: 40 of 45 USA Active RT's In Alignment With Wells Fargo (18) Arizona Atlanta Baltimore Central Florida CSCMP Dallas/Fort Worth Indianapolis Jacksonville Kansas City Heartland Milwaukee National Capital Area Northern Nevada Peoria Philadelphia Pittsburgh Puget Sound South Florida Upstate South Carolina Converting to WF (3) Middle TN (Nashville) New York City Raleigh Plan To Provide Acct Login (1) Western New York To Be Resolved (4) Lehigh Valley (solo WF) Ozark San Francisco Utah-Idaho Region Provided Acct Login (19) Central VA Charlotte (RTSC to confirm) Chicago Cincinnati Cleveland (RTSC to confirm) Columbus Eastern Michigan Houston Mid-South Regional (Memphis) New England New Jersey New York Capital District Northeast Wisconsin (RTSC to confirm) San Diego/Baja Southern California South Central Pennsylvania St. Louis Twin Cities Western Michigan For questions or to get started, contact Shital Patel at +1 630.645.3481 or spatel@cscmp.org and copy Denise Rivers at drivers@cscmp.org. See also Quick Banking Guide on the Roundtable Officer Resources page.

8. Benefits of Wells Fargo CSCMP umbrella 1.Banking fees waived 2.Electronic funds transfer of event registration revenue 3.Easier transition between old and new treasurer

9. Annual Audit Completion: Audit letters needed from 3 USA RT's Jacksonville Utah-Idaho Region Western New York

10. CSCMP Financial History – Annual Profit(Loss) ($100K)

11. CSCMP Financial History – Annual Profit(Loss) with Budget ($100K)

12. Acting as ONE Organization Roundtables strengthen the financial position of CSCMP, at both the roundtable level and corporate level –Differential event pricing for members vs. non-members supports having staff at RTSC –Year-end membership drive had a great response and provided revenue for the organization –Roundtables sponsor the RT Leadership Forum in June

13. Acting as ONE Organization Challenge your RT board to explore ideas to generate more revenue for the organization and provide value to members –You are leaders on your board Conduct scenario analysis on event pricing Drive sponsorship

14. Treasurer Calls Planned for second Monday of the month 20142015 28-Jul 12-Jan 18-Aug9-Feb 8-Sep9-Mar 13-Oct13-Apr 10-Nov11-May 8-Dec15-Jun

15. Q&A on Budgeting Bob Shaunnessey of the Chicago RT suggested a calendar-year approach to budgeting & planning –Choosing an academic-year or calendar-year approach is up to the roundtable Calendar-year planning offers the following benefits: –Planning events 6-18 months in advance –Does not conflict/coincide with officer transition process –Easier to meet and plan during the fall than during the summer –When recruiting sponsors, asking for funds in the fall for the following year aligns with sponsors’ budgeting process

16. From Your Finance Process Team:

17. Roundtable Treasurers and Presidents Appendix: Best Practices

18. Activity Report Assist Secretary with submitting complete event registration list (with walk-ins) to RTSC within 3 business days of event. Send to Denise Rivers, drivers@cscmp.orgdrivers@cscmp.org It is the Secretary's responsibility to complete an Activity Report for each event (which is on the Roundtable Officer Resources page) and the VP of Membership's responsibility to submit each event's full list of attendees (including walk-ins). However, the Treasurer often plays a supporting role to the Secretary and VP of Membership in completing these tasks.

19. Annual Audit Formal annual audit due July 31 of every year o Submitted by incoming RT president o Email to Denise Rivers: drivers@cscmp.org Informal audits encouraged o Prepared by a disinterested person. https://cscmp.org/roundtable/roundtable-officer-resources

20. Sample Audit Letter

21. Quarterly Financial Report No longer required for US RT’s since bank acct. visibility provided to RTSC. Still needed from non-US roundtables. RT president submits the report online by the 15 th of the month following the end of each quarter. Report should reflect the cash balance, not necessarily the bank account balance. https://cscmp.org/roundtable/roundtable-quarterly-report

22. Responsibilities 1.Prepare a budget by event and for the roundtable program year. 2.Receipt all cash transactions and maintain a copy for roundtable records. 3.Pay bills and deposit roundtable funds promptly. 4.Keep accurate records.

23. Prepare a Budget 1.Use templates under RT Officer Resources. 2.Acts as a guide for planning the RT’s activities. 3.It shows the roundtable’s planned income and disbursements. 4.Developed once RT’s goals have been set so programming needed to accomplish the goals is incorporated into the budget. 5.Helps make sure the RT’s activities stay within its means. 6.Puts periodic RT financial reports into perspective.

24. Achieving Good Financial Governance 1.Accurate reporting capabilities –Weekly/monthly reconciliation of the bank account –Tracking and visibility to the book/cash balance 2.Internal controls –Informal audit of transactions –Ensure there are two board members on the bank account at all times, with Paul Blair having read-access –Maximum withdrawal amounts (can set via the online banking website) –Notifications of transaction amounts greater than $500

25. 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 to be provided Device not aligned with DRUPAL at this time but we have a process to manage alongside DRUPAL If interested contact Denise Rivers, drivers@cscmp.org