Transcript Annual Budget - d11nuscgaux.info

Auxiliary
Finance –
Elected Officers’ Training 2008
Fran Fisher
DSO-FN 11NR
Marilyn McBain ADSO-FN
Stephen Chan ADSO-FN/F
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The Role of FN is to
support Elected
Officers, Boards &
the FN chain.
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FN Responsibilities: The Annual Cycle
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Keep complete and accurate records of all
transactions
Keep complete records of all unit assets
Pay approved bills….must have original receipts
Collect and deposit receipts
Collect and pay dues
Report monthly/quarterly financial status according
to District/Division/Flotilla policy
Manage the cash flow
Optimize income opportunities
Prepare Financial Report of Auxiliary Unit/Inventory
Report (Form 7025) by 31 January. Due to Stephen
Chan, ADSO-FN/F. Delinquent 1 March.
3
Prepare a budget
Why do a Budget?
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Auxiliary unit funds may only be spent or
committed by vote of the voting members –
unless otherwise stated in the Standing Rules.
The Annual Budget, once approved by vote of
membership, allows compliance with the
Auxiliary Manual.
Without an approved budget, each expenditure
requires a vote.
District officers have approved budgets, but
expenditures must fall within guidelines.
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Preparing a Budget
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Ask members to submit their budgets
Project next years income and expenses
based on past experience
Review the budget with Budget
Committee or general membership item by item
Discuss and adjust
Vote
Sample Flotilla Budget -----5
United States Coast Guard Auxiliary
F lotilla
approv ed
1/10/01
Typical
Budget
1998
Actua l
1999
Actua l
2000
Actua l
621
45
1,285
1,951
630
130
800
1,560
420
300
760
1,480
735
26
761
700
26
726
765
26
791
Inte re st Income
Misce lla ne ous
44
0
35
0
77
5
T OT AL IN COME
2,756
2,321
2,353
2,656
EXPEN SES
AIM D ona tion
Awa rds & Gifts
100
126
100
112
100
128
100
130
1,386
43
185
0
1,614
849
45
175
0
1,069
833
31
243
0
1,107
150
498
115
122
457
81
115
452
100
150
436 20 @ $21+ $16
100
19
0
0
39
176
0
39
0
0
0
80
215
0
50
0
0
0
16
101
0
0
25
0
50
100
300 includes Div social
0
50
2,876
2,286
2,119
35
234
IN COME/ EXPEN SE
IN COME
Course Ma tl Fe e
ACN
BSC
BS&S
T ota l Course Fe e s
D ue s Income :
Annua l D ue s Income
N e w Me mbe r D ue s Income
T ota l D ue s Income
Cla ss Supplie s
Ma te ria ls
PE Brochure s
R e fre shme nts
Kids & W a te r
T ota l Cla ss Expe nse
COW
D ue s Expe nse
FC Expe nse
FSO Expe nse
VFC
MA
PE
PB
Socia l
(Ove r)Short
Misce lla ne ous
T OT AL EXPEN SES
T OT AL IN COME/ EXPEN SE
(120)
2001
Budge t
360 6@$60
0 0@$30
1,200 30@$40
1,560
1,035 23@$45 (current+3)
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1,061
35 based on '99
0
1,178 [email protected][email protected][email protected]+x
85
275
25
1,563
3,004
(348)
date, title
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Postage…….
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Is it a real expense?
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It costs the Coast Guard money.
In turn, it limits our operations funding.
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Dues (FSO-FN/FC)
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Issue a letter requesting payment of dues . (This should be
done prior to 1 August .) Keep a copy for your files.
After 30 days issue a second request on Form ANSC 7035
(10-04) to those members who have not paid. (Hint – This
form can be signed and dated in advance for members who
have not paid in event that a second notice need be sent.)
Keep copies.
Attempt to reach those members who have not responded.
Keep notes!
After 60 days, begin disenrollment process for non-payment
of dues. Form ANSC 7035 (10-04), with copies of all dues
correspondence (including handwritten notes) attached,
must be completed and submitted to the DSO-PS by 1
October.
If disenrollment forms are not submitted (by the DSO-PS) to
DIRAUX by 1 November, dues will be payable by the
Flotilla even if not collected.
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Form 7035
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Dues
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Flotillas and Divisions set their own unit dues.
The amount collected must be enough to cover
the National, District, Division and Flotilla dues.
Currently, National dues are $12/member and
District dues are $15/member.
National and District do not bill for Past
Commodores.
REMEMBER – we are collecting annual dues for
the following year (i.e., 2009 dues in 2008)
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When is a unit
responsible for the
dues of a new
member?
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Quarterly Dues
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NEW THIS YEAR - New Member dues
are billed according to the quarter that
the member becomes AP (approval
pending)
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1st quarter – 75% of annual dues
2nd quarter - 50% of annual dues
3rd quarter - 25% of annual dues
4th quarter – no dues required for the
current year
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Double Dues ???
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If you disenrolled a member late and the
paperwork is not processed on time, you will
be responsible for their annual dues. If the
member later decides to pay, you will be
billed again when the member is reinstated.
National will no longer make corrections for
those folks going out/in .
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Dues - Delinquent
Dates
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Payable within 30 days.
Divisions more than 60 days in arrears
will not be entitle to vote as a member
of the District Board.
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Dues Discrepancies
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Pay the full amount billed by the DSOFN
Report the discrepancy to your IS
officer and the DSO-FN
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REMEMBER – it is the
Flotilla’s duty to submit
paperwork for ALL
disenrollments………
- including death of a flotilla
member
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UNITS ARE BILLED
ANNUAL DUES FOR
ALL MEMBERS LISTED
IN AUXDATA ON
1 JANUARY
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Sales Tax Exemption
The US Coast Guard Auxiliary is “a nonmilitary organization administered by
the Commandant of the Coast Guard
under the direction of the Secretary of
Homeland Security”
Accordingly, sales to the Auxiliary are not
subject to sales tax.
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All members of the Auxiliary who make
purchases on behalf of the Auxiliary may
request an exemption from sales tax
(request letter from DSO-FN). Remember,
while sales to organized units of the Coast
Guard Auxiliary are exempt from sales tax,
sales to individual members, even if
billed through the Auxiliary, are not
exempt from sales tax. This
exemption may not be used for
personal purchases.
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personal use of sales tax
exemption = TAX EVASION
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Are Auxiliary Units 501(c)(3)s?
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Auxiliary units are not 501(c)(3)
nonprofit organizations.
The Coast Guard Auxiliary Association,
Inc is a 501(c)(3) organization. Any
donation that needs be made to a
501(c)(3) needs to go through the
Coast Guard Auxiliary Association, Inc.
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Are donations to the Auxiliary
deductible if you itemize on your
tax return?
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Yes, donations are deductible because
we are a government organization.
The are deductible under IRC
170(c)….NOT under 501(c)(3).
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Form 7025
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When should this form be completed?
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At the end of each year.
What other times?
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Form
7025
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Form
7025 pg 2
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Form 7025 Hints
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Complete the unit name and number at
the top of the form
The current year’s beginning balances
should equal the previous year’s ending
balances
The form should balance ---
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Beg balance + receipts – disbursements
= ending balance
(line 2 + line 4 – line 7 = line 9)
If it does not equal, check your
numbers and correct the form before
submitting it
Forms should be submitted to
ADSO –FN/F
NOT DIRAUX…
NOT DSO-FN
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Problems???
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If you need help, please call -DSO-FN
If the question relates to Quicken or
QuickBooks, please let me know which
version you are using- 2005, 2007, etc.
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