Transcript Slide 1
SO YOU ARE THE TREASURER!
Congratulations!
but where do I start?
…
THE BANK ACCOUNT…..
Find out who are the current signers and make
sure you are current!
Get the current year:
Chapter President,
Chapter Treasurer
State Treasurer
. *** 3 signers, one must be the State
Treasurer!
BANK ACCOUNTS
Find out how many you have, do you have
savings or a CD? Money Market savings?
Consider using a program such as Quicken if
you have a large number of transactions.
Keep accurate up to date records!
USE THE MEMO LINE!
You cannot write too much!
Was this a check for a service such as teaching
or speaking?
Was this a check to reimburse expenses?
Was this for delegate expenses based on
receipts
No cash withdrawals either by check or debit
cards.
TREASURERS ON-LINE BIBLE!
YOUR GUIDE TO LIFE AS A TREASURER
http://www.ena.org/statecouncils/Treasurers/
Pages/default.aspx
Treasurers quarterly calls! Listen in!
YOU ARE NOT ALONE!
State Treasurer: ask first, they probably know
where to get an answer.
Our accountant: (Larsonallen) tax issues,
reporting.
Wells Fargo Advisor: Erik Wiski
[email protected]
banking needs, signatures, questions about
fees, savings.
BUDGETING
Look at the previous year(s) .
What income did you have?
What expenses do you expect.
Get it approved at the last meeting of the year, it
decides where you can spend for the upcoming
year.
Unapproved expenses must be approved before
spending.
Send a copy to State Treasurer.
Examples at the Treasurer page.(ENA)
WHAT IS A TAX ID NUMBER?
Minnesota ENA has one Tax ID number. It is
sort of like a Social security number for our
business. (Not posted)
Even though we have separate chapters and
accounts, we are considered one collective
organization.
The State Treasurer is responsible for all
accounts. (Can view all your transactions)
ARE WE TAX EXEMPT IN MN?
No we are not. Our accountant as well as our
National CFO have advised that it is a bulky
process for what we would save.
But yes, we are a 501(c)3 non-profit. We have
that status through a group certification
TAX TIME!
State Treasurer does the filing with the
accountant.
Your State Treasurer will ask for several items.
December/Early January:
A list of checks written to persons for services.
A copy of your check register.
TAX TIME TWO
Mid January:
Beginning and ending balance for the previous
year, for all accounts.
Interest earned.
Income/expense summary.(This can be
accomplished with a copy of the budget and
the check register.) Please make sure your
account balances!
WHAT ELSE
Need a copy of notes showing your elected
officers, and that your budget was approved.
Receipts do not need to be sent but MUST be
retained. (Delegate receipts, payment
receipts….)
DELEGATE STUFF
Minnesota ENA has a policy on delegate
reimbursement.
States reimburses airfare and shared hotel up
to a specified amount. ($600) .
If the chapter decides they may pay the
difference between State amount and any
actual actual expense. No one may “earn”
money on this. (See example)
DELEGATE EXAMPLE
Dede goes to San Diego to be a delegate.
Costs:
airfare is $449
Hotel is $ 370
Meals are $72
Airport shuttle is $20
Gifts for kids and 2 drinks are $102
EXPLANATION
Airfare and Hotel receipt are paid up to MN ENA
State approved amount of $600
Chapter may decided to pay any additional
amount. Dede submits $819 to her chapter.
Chapter decided to pay per-diem but based on
actual costs, so Dede submits for $92 to her
chapter.
CLEAR AS MUD?
Talk with State Treasurer about plans for your
chapter before delegation goes!
Different needs for different chapters.
CD VS. MONEY MARKET CHECKING.
CD’s “roll over” cannot get at the money if
needed.
Money Market checking, you keep what you
need in the checking account, and place the
rest in an interest bearing “Money market
account”. Money can be transferred on-line
with no penalty and earns interest.
PER DIEM
What is it?
It is money allowed during business travel (annual
conference) for reasonable expenses.
(Food,taxi,and shuttles, are the most common.)
No alcohol.
Does not require a receipt.
Paid if approved by the chapter.
Meals and per-diem expenses are the responsibility of the
Delegate/Alternate’s chapter. Each chapter may decide if and the amount
they will reimburse per diem items. (Up to the IRS accepted amount of
$75/day)
INSURANCE
So you are holding a conference or event and
you are asked about insurance.
We have it through National ENA. We need to
ask for a certificate to give to the requestor.
WHAT MONEY DOES MY CHAPTER GET?
You get monies from National for each person
in your chapter.
The schedule is in the Treasurers handbook!
http://www.ena.org/statecouncils/Treasurers/
Documents/TreasurerGuide12-2008.pdf
QUESTIONS?