1. SGB Orientation Finance Workshop Presented By: Darren Ramdin
Associate Director
Office of Financial Services
2 Penn Plaza, Suite 701
New York, NY
(fax)

2. Overview
Finance Staff
Financial Definitions
Financial Management Report
Revenue and Expense Account Descriptions
Budget Schedule
Helpful Links

3. Financial Services Staff
Craig Jacobson
Manager
Financial Reporting, NSF Grants, Taxes, Accounts Payable, Financial Analysis
Lily Liao
Senior Staff Accountant
Accounts Payable, Wire Transfers, Financial Analysis
Russell Harris
Director
Overall financial management of the organization
Liz Zhang
Senior Accountant
Financial Statements, Tax Returns, Banking, Financial Analysis
Siwei Liu
Staff Accountant
Travel Reimbursements, Accounts Receivable, Credit Card Processing, Financial Analysis
Stephen Sisler
Senior Staff Accountant
Investments Recording, Accounts Receivable, Insurance, Financial Analysis
Howard Glassman
Accountant (Part-time)
Accounts Payable
Connie Tam
Accountant (Part-time)
Accounts Payable and Accounts Receivable

4. Financial Definitions
ACM is a 501(c)(3) Organization
- Allows for Federal Tax Exemption
- Regulated by U.S. Department of Treasury
- Organized, operated for scientific and educational purposes.
- No part of the activities or the net earnings can unfairly benefit
Director, officer, or any private individual.
- Volunteers cannot be paid.
Subject to UBIT (Unrelated Business Income Tax).
- Required to comply with U.S. Economic Sanctions.
Sales Taxes
Exempt: New York, Florida,, Massachusetts. Colorado, Texas, among others.
Not Exempt: California, Washington, Illinois, Nevada, among others.
VAT (Valued Added Taxes)
Not Exempt.
Event by Event Analysis.
Preferred Professional Vendors available to assist.

5. Financial Definitions
Fiscal Year
A period of 12 consecutive months without regard to the calendar year. The fiscal year is designated by the calendar year in which it ends.
Official Fiscal Year – July 1 – June 30
FY 12 (Fiscal Year 2012): July 1, 2011 – June 30, 2012.
Conference Fiscal Year – March 1 – February 28
FY 12 (Fiscal Year 2012): March 1, 2011 – February 29, 2012.

6. Financial Definitions
Accrual Accounting
The recording of economic events regardless of when the cash transactions occur. The general idea is that economic events are recognized by matching revenues to expenses (the matching principle) at the time in which the transaction occurs rather than when payment is made (or received).
Deferred Revenue
Income to be earned in future reporting periods.
Accrued Expenses
Expenses recorded when incurred (not when paid).

7. Financial Definitions con’t
Surplus
The net result when revenue exceeds expenses.
Deficit
The net result when expenses exceed revenue.
Fund Balances or Reserves
The accumulation of surpluses and deficits.
FMR
Financial Management Report – Financial Statement or Financial Performance Analytical Tool.
CIP
Conference In Process Report. Financial Management Report for Conferences.
TMRF
Technical Meeting Request Form (Conference Budgets).

8. Financial Definitions con’t
Overhead/Allocation
This fee is part of doing business at ACM. It is not a fee for service. It is currently calculated based on the total expenses of each SIG, both general operations and conferences.
To cover overhead, SIG leaders (through action of the SGB) have chosen to implement a formula based on a sliding scale, starting at 16% and decreasing by 0.8% for every $125K of expenses. Thus different SIGs and their conferences vary in the percentage used for overhead. The activities covered under overhead include general office support for SIGs and their conferences, accounting and finance support, and assistance with publications, membership, marketing, webpage/wikis, etc.
For background and detail of recent discussions of the topics of overhead and allocation, please see minutes of the SGB - October 14, 2000, August 19,2001, February 23, 2002, March 16, 2003 and September 20, 2003.

9. Financial Definitions con’t
Required Fund Balance
ACM Policy - All subunits must maintain adequate reserves against unexpected occurrences.
Formula
50% of organizational expenses + 40% of conference expenses. The Required Fund Balance is established for each SIG as part of the annual budgeting process.

10. Financial Management Reports
FMRs

16. Revenue Account Descriptions
SIG Dues
619
Voting, Associate, Affiliate & Student Dues
Non-Member Subs
623
Subscription to SIG Newsletters (Non-Members)
SIG Proceedings Pkg
624
Proceedings Sold to Members
Digital Library
628
Distribution from DL Net
Proceedings Sales
632
Single Copy Sales of Proceedings
Video Sales
637
Sales of Material on DVDs
Other S/C Sales
639
All Other S/C Sales e.g. Tutorial Notes
Conference Revenue
651
Income from All Conferences

17. Revenue Account Descriptions
Interest Income
692
Income from Fund Balance Investments
Expedited Service
695
Air Service Charges
Contributions
696
Support from Other Organizations
Other Misc. Revenue
698
Other Income not classified Above

18. Expense Account Descriptions
Travel
812
Volunteer Airline Tickets, Lodging, Meals, Taxis
Communications
833
Telephone, Fax
Mailing and Handling
834
Postage, FedEx excl. Member Benefits
Stationery & Supplies
835
Letterheads, Envelopes etc.
Minor Printing
836
Minor Printing excl. Member Benefits, Elections
Copying/Duplicating
837
Copying
Production
841
Productions Costs of Member Benefits
Distribution
842
Distribution and Handling Costs for Member Benefits

19. Expense Account Descriptions
Other Pubs. Services
847
Editorial and Designs Pubs Costs
Web Design
850
All aspects of Web Design/Support
Professional Service
869
Contractors/Service Providers
Local SIG Support
871
Support Given to Local Sigs
Grants
872
Travel Grants Program
Awards
Lifetime, Service, Special
Scholarships
874
Student Initiatives (Restrictions)

20. Expense Account Descriptions
Special Projects
875
Non-Normal Operating Costs
Meetings/Functions
882
Meeting Room Rental, Audio Visual
Other Misc. Expenses
889
Expenses not classified above
Conference Expenses
891
Overhead
900
Overhead Costs
SGB Support
903
SGB Overhead Operational Costs
Conference Transfer
904
Conference Transfer of Allocation
Transfers
905
SIG Project Fund & Endowments

21. FY ’13 Budget Schedule
The FY 13 budget covers Conference activity from March 1, 2012 through February 28, 2013 and Organization activity from July 1, 2012 through June 30, 2013.
The FY 13 Budget Schedule is as follows:
On or about November 15, 2011 – Submit FY ’13 Member Benefits to Office of SIG Services.
On or about January 16, ACM Finance commences inputting data on the FY 13 budget templates.  Data on special projects, awards, grants, travel are requested from SIG Officers.
No Later than January 30, FY 13 changes in member dues and subscriber rates must be submitted to ACM Finance for inclusion in the publications catalog;
On or about February 13, Completion date for preliminary preparation of draft budgets.
On or about March 12, Review with SIG officers, obtain approvals, work toward completion;
On or about April 2, Inclusion in ACM budget draft to be presented to ACM EC and Council.

22. Helpful Links Officers Manual:
Financial Management Reports: fmr.acm.org
Policy and Procedures:
Travel Guidelines
Conference Manual
SGB Minutes