BCS Membership Board Treasurers’ day
10th February 2015
INTRODUCTION AND AGENDA Ian Sunley
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Agenda
Morning 10.30 to 11:30
Unconcious Bias Training
Morning 11:30 – 13:00
• Introduction objectives of the day.(IS)
• The current financial position of both the Institute and Membership Board(IS)
• Report on Changes from Last year.
• Accounting requirements and Financial rules (HA)
• The budget process for FY 2014-2015
• Questions and Answers
Afternoon 13:45 to 15:30
What Swindon can offer to Treasurers
Introduction to 3 topics for SPEED networking
Presentations from Groups
Final Discussion and Close
UNCONSCIOUS BIAS TRAINING Rebecca George.
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OBJECTIVES FOR THE REST OF THE DAY
Ian Sunley
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Objectives for the day
1. To make it easier for Treasurers and MB
Finance Committee to work together
2. To explain the budget process for the
Financial Year 2015-2016
3. To keep you up to date with financial
processes and guidelines.
1. To get your input into the processes we
use.
“
Governance and MB Finance Committee
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Professionalism Board Policy and Public Affairs Board BCS Academy of Computing Membership Board
BCS, The Chartered Institute for IT
STRUCTURE OF BOARDS & COMMITTEES
December 2013
Policy Committee
Finance Committee
Best Practice Committee
JTISC Representation
Audit and Risk
CommitteeRemuneration Committee
COUNCIL TRUSTEE BOARD
Registration Standards
CommitteeNominations Committee
Membership CommitteeGovernment Relations Group
Academic Accreditation Committee
Academy Awards Committee
Policy Hub
Security Community of Expertise
Inclusion Community of Expertise
Internet of Things Community of Expertise
Working / expert groups
MB Finance Committee Terms of Reference
• Purpose
• Responsible to Membership Board for financial rules, processes and procedures for
Member groups
• Establish administer and allocate the budget for all membership functions
• Optimise the use and take up of funds through review and reallocation
• Responsibilities
• Consult over changes
• Define and agree levels of authority
• Define and agree internal auditing controls to monitor compliance with internal policies
• Ensure the budget process is handled smoothly in a timely fashion
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Finance Committee & Current position
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Members of Finance Committee at 21st January 2015
Ian Sunley – Chair
Terence Freedman
Helen Fletcher
Dan Hayton
Andy Cox
Judith Taylor
We need 2 new members if anyone is interested
With support from
Helen Axam
Karen Myatt.
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Figures at end of August 2014
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Year end results 13/14
£ £ £
Net
Net Budget Spend Balance
Branches 107,965 92,049 15,916
Specialist Groups 76,528 45,206 31,322
International Sections 40,000 35,279 4,721
Governance & Conventions 11,400 14,310 (2,910)
SFR - Pot B 87,000
322,893 186,844 49,049
BCS Health £65000 65,000 30,634 34,366
Grand Total 387,893 217,478 83,415
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Current results 13/14
To end December 2014
£ £ £
Budgeted Budgeted Actual Actual Net
Spend Income Net Budget Spend Income Spend Balance
Branches 130,935 5,800 125,135 36,122 6,150 29,972 95,163
Specialist Groups 343,210 239,388 103,822 106,545 90,578 15,967 87,855
BCS Health £47,000 47,000 0 47,000 13,048 0 13,048 33,952
Sub Total A 521,145 245,188 275,957 155,715 96,728 58,987 216,970
International Sections 39,999 0 39,999 25,700 0 25,700 14,299
Governance & Conventions 44,900 0 44,900 9,645 0 9,645 35,255
Sub Total B 606,044 245,188 360,856 191,060 96,728 94,332 266,524
SFR - Pot B 87,000 0 87,000 29,799 0 29,799 57,201
Grand Total 693,044 245,188 447,856 220,859 96,728 124,131 323,725
0 0
Helen Axam
11th January 2014
Supplementary Funding - Tracking Sheet Summary:-
Pot B Funding 87,000
Allocated to date 29,799 29,799 Cross check
Balance remaining 57,201 at month end
End Dec. (4 months)
Branches spend £29K
SGs spend £16K.
NOTE. Because we have
corrected for Income this
year then the comparison
is offset by around 8%
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Current results 13/14
-20
-10
0
10
20
30
40
50
60
70
1 2 3 4 5 6 7 8 9 10 11 12
Perc
en
tag
e o
f n
et
bu
dg
et
sp
en
t
Net spend as % of budget
203/14
2014/15
Institute Year End Figures
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Because these figures are yet to be
finalised I cannot publish them on a slide.
Report on Changes from Last year
• Each budget allocation for 2014-15 gave a reason for the figures that were allocated. The
result was that we had a lot less misunderstandings in September.
• The Finance Committee attempted to create a document that would make the decision for
many of the SFR’s quicker. The result is that there are a number of key elements that
must be filled in before we will discuss an SFR. In particular a breakdown of the required
funding, whether other sponsorship has been obtained and how the Institutes objectives
are met. These items are dealt with by the members groups team before submission to
the Finance Committee.
• Helen clarified the revised Members Financial Regulations to keep them in with those of
the Institute.
• Revised Capital Expenditure limit down to £250, as the cost of Laptops and Pads fell
some groups were wishing to buy them for their committee hopefully this has stopped
that.
• We looked at last years speed networking and have highlighted several key points that
the Finance committee are tackling 2014-15.
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2014-15 Action Plan
• Clear guidelines and clarification in a document on website of donation and sponsorship
and process for both.
– The Guidelines already exist but will be pulled together and added to the Financial Guidelines.
• Official handover procedures for Treasurers. - To be discussed this afternoon
• More online forms that are not PDF format but fillable on line and online submission forms
and history of submission.
– Agreed buy Finance Committee but as a new software system is being commissioned this will have
to wait. The new system should make this easy.
• What should be bid for in budgets capital expenditure.
• Guidance on what is permissible expenditure and personal expenses. - To be discussed this
afternoon.
• Is there a Treasurers forum and mentor scheme.
• Checklist of what is and what is not available centrally – e.g. hotel bookings.
• Is there an escalation process if MBFC decision not agreed with by the SG/Branches – To
be discussed this afternoon
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HOW HEADQUARTERS AND THE TREASURERS WORK TOGETHER
Helen Axam
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Interactive Session
The aim of today’s session is to
• Cover the salient points of the Guidelines For Treasurers
• Cover the daily / weekly / monthly / annual tasks
• How HQ finance supports the treasurers
• How you can help HQ and yourselves
• Cover the completion of various forms
• VAT – income and expenditure
• Monthly financial statement
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Treasurers’ Guidelines
EXPENDITURE
• What do you class as “Expenditure”?
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Treasurers’ Guidelines
EXPENDITURE
• What do you class as “Expenditure”?
• A purchase invoice.
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Treasurers’ Guidelines
EXPENDITURE
• What do you class as “Expenditure”?
• A purchase invoice.
• An expense claim.
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Treasurers’ Guidelines
EXPENDITURE
• What do you class as “Expenditure”?
• A purchase invoice.
• An expense claim.
• A cheque raised at HQ for e.g. a Student Prize
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Treasurers’ Guidelines
EXPENDITURE
• What do you class as “Expenditure”?
• A purchase invoice.
• An expense claim.
• A cheque raised at HQ for e.g. a Student Prize
• Bank charges associated with paying an invoice or claim overseas
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Treasurers’ Guidelines
INCOME
• What do you class as Income?
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Treasurers’ Guidelines
INCOME
• What do you class as Income?
• Event Income net of VAT (before VAT is added on)
– All chargeable events must go through the BCS Event Booking
System. To assist with this a completed budget proforma will be
required by the Member Groups Team (MGT).
– This will ensure that the income (net of VAT) will correctly be posted
to your monthly accounts
– Please note – I examine the income earned each month and hold it in
a balance sheet account called Income in Advance, until the actual
month the event happens
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Treasurers’ Guidelines
INCOME
• What do you class as Income?
• Event Income net of VAT (before VAT is added on)
• Sponsorship Income net of VAT, by external parties
– If you are successful in securing Sponsorship, please contact me so
that I can help you with the details required to raise an invoice from
HQ to your Sponsor. We need to get the invoicing details correct at
the start to avoid non-payment of invoices.
– This will ensure that the Income is posted to your accounts correctly
– Not to be confused with Donations.
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Treasurers’ Guidelines
INCOME
• What do you class as Income?
• Event Income net of VAT (before VAT is added on)
• Sponsorship Income net of VAT, by external parties
• Donations (exempt of VAT)
– Definition of a Donation – “Donations are given without return
consideration”.
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Routines – daily/weekly/monthly/annually
DAILY / WEEKLY
• Monitor emails and post for financial information
• Preferred for invoices and claims to come to Swindon Finance first.
• Scan in expense claims with receipts, as and when received
• Scan in invoices as and when received
– Why? So they don’t get lost or forgotten or build up and so HQ can
arrange payment in a timely manner
MONTHLY
• Approaching month end, ensure that all of the above have been
submitted
• Review monthly accounts (more on this later)
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Routines – daily/weekly/monthly/annually
ANNUALLY
• With the July accounts, I will send you a Year End Return Form
• Keep this safe for the year end date of 31st August
_______________________________ Member Group
2014/15 Year-end Return
Transactions relating to the 12 months ended 31 August 2015. Please tick one box
All the transactions for the Branch/SG have already been completed.
The attached claims/invoices are the last for the Branch/SG.
In addition to claims/invoices already sent to you, the following expenditures should be taken into account.
Creditors: Goods and services to be received by 31 August 2015 for which invoices have not yet been received or an expenses claim submitted.
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Supporting each other
HOW HQ SUPPORTS YOU
• Seeking your approval for expenditure
• Processing documents in a timely fashion
• Paying suppliers and expense claimants in a timely fashion
• Publishing monthly financial statements
• Here to help – any questions, big or small, we answer them all
HOW YOU CAN HELP HQ AND YOURSELVES
• Respond as soon as possible to any communication from either finance
or the Member Groups Team. Please let us know about holidays
• A simple thing – please enter the name of your member group in the
subject field of all emails
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Completion of forms
• Expense claim forms (sample of areas to be completed follows)
• Overseas claimants need to provide us with different bank details – please ask me in advance for a relevant form I can send you
• Signature forms of officers (Treasurer, Chair and Secretary)
– After your AGM, if there is a change in officers then the signature form for the next f/yr must be completed. If I do not have sample signatures for the officers, they cannot sign off any documents (KPMG Audit Rules). If no change, then a quick email from the treasurer can let me know this
• Year end forms
• Chargeable Event Proformas – contact [email protected]
• Supplementary Funding Requests (SFR’s) – contact [email protected] A bit on this later
• All available on www.volunteer.bcs.org various sections
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Completion of an Expense Claim Form
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VAT
WHY DO WE ALWAYS REFER TO “NET OF VAT”?
• BCS is VAT registered. This means that we are obliged to charge VAT
on all income (except Donations). VAT on income we invoice is called
“Output VAT”.
• Any supplier who is VAT registered themselves, will charge us VAT on
expenditure that we buy. VAT on expenditure is called “Input VAT”.
• The VAT on income is paid to HMRC
• The VAT on invoices can be claimed back from HMRC. Full VAT if
relating to a chargeable event, partial VAT if not. No VAT can be
claimed back on submitted expenses (HMRC rules).
• Hence – net of VAT. All of this is actioned by HQ
• Example follows
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VAT Example
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Monthly Financial Statements
INCOME AND EXPENDITURE STATEMENT
• This is an overall summary of the member group’s financial activities
each month.
• It will show you any income earned (in the correct month)
• It will show you any expenditure (in the correct month)
• You can see the individual month’s figures
• You can see the year-to-date accumulative figures
• You MUST monitor your income and especially expenditure against
your approved annual allocation. Do not allow the member group to
overspend.
Example follows
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Sample of monthly financial statement showing Income
YR 14/15 Dec Management Accounts Report
Period Period Period YTD Period YTD Full Year Budget
Period Actual Period Budget YTD Actual YTD Budget Full Year Budget
INCOME
150 100 200 400 600
Income 150 100 200 400 600
EXPENSE
3010: Travel/Subsistence (Other) 14 33 14 133 400
4100: Postage 0 3 0 10 30
4110: Room Hire 30 33 50 133 400
4130: Speakers expenses 0 11 0 43 128
4150: Catering 274 52 314 208 623
4290: Subs to Other Bodies 0 1 0 5 15
5102: Student Prizes & Membership 0 34 150 135 404
Expenditure 317 167 527 667 2,000
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Monthly Financial Statements
EXPENDITURE TRANSACTIONS
• This tab shows you what you’ve spent your budget allocation on!
• This is a summary of invoices, expense claims, cheques raised at HQ
etc. and is presented as year-to-date.
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Expenditure
TRANSACTION REPORT
Expenditure, Dec YTD 14/15 TOTAL £527.23
Account Name Date Amount Ref. Description Supplier
5102: Student Prizes & Membership 29 Sep 2013 150.00 270267 EXP-PG-29/9 PROF P M DONALD
5102: Student Prizes & Membership 30 Sep 2013 150.00 SEP020 Provide accrual AXAM001 exps in hand not yet posted Not Applicable
4150: Catering 30 Oct 2013 37.50 271204 SMIN023773 ROBERT WHITE UNIVERSITY
4150: Catering 30 Oct 2013 2.70 271204 SMIN023773 ROBERT WHITE UNIVERSITY
5102: Student Prizes & Membership 31 Oct 2013 -150.00 OCT020 Reverse accrual AXAM001 exps in hand now posted Not Applicable
4150: Catering 05 Nov 2013 40.00 270555 EXPS PG 5/11 PROF P M DONALD
4110: Room Hire 05 Nov 2013 20.00 270555 EXPS PG 5/11 PROF P M DONALD
4110: Room Hire 16 Nov 2013 30.00 271228 EXPS JEMT 16/11 DR J E M TATE
4150: Catering 16 Nov 2013 30.00 271228 EXPS JEMT 16/11 DR J E M TATE
3010: Travel/Subsistence (Other) 16 Nov 2013 13.50 271228 EXPS JEMT 16/11 DR J E M TATE
4150: Catering 26 Nov 2013 37.50 271254 SMIN 023888 ROBERT WHITE UNIVERSITY
4150: Catering 26 Nov 2013 2.70 271254 SMIN 023888 ROBERT WHITE UNIVERSITY
4150: Catering 28 Nov 2013 163.33 270920 BCS-BRANCH 13/12 SPORTSMAN'S CLUB, THE
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Monthly Financial Statements
• It is the Treasurer’s responsibility to ensure that the financial statement
is circulated to the Chair and Secretary each month and that the
accounts are discussed at each committee meeting
• It is the Treasurer’s responsibility to examine the transactions each
month and to report back to me any queries or changes i.e. to re-code
transactions to a different cost code.
– For example, if your member group earns event income, we can
identify specific costs linked to the events by using code 5104: MG
Income Related Expenditure.
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Before submitting an SFR, think about your financial statement
• IMPORTANT POINT
• Before your member group considers putting in a Supplementary
Funding Request, the Committee must review the most up-to-date
financial statement to see if there are sufficient unallocated funds
available from running costs to cover the expense first; e.g. an SFR for
£100 can be funded by the MG, if they have only spent £217 against an
annual allocation of £1,500.
• Your first port of call can always be www.volunteer.bcs.org
• More detail can be found in the documents you are emailed when you
are welcomed to BCS as Treasurer – good point of reference.
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Treasurer supporting documents
• Each treasurer receives the following documents when they are appointed:
– Member Groups Financial Guidelines
– BCS Accounting Service
– Authorised Signatory Form – to be completed as a new officer
– Member Groups Monthly Financial Statements and Example Report
– Expense Claim Forms to circulated and be used by all
The above documents have been reviewed and updated, so if any of you would like to receive any of the above again, please drop me an email request to [email protected]
- Thank you all for your kind attention.
- Any questions?
Budget process for FY2015-2016
Treasurers Day 2015
Timetable for 2015
Action By Date
Prepare budget bid Member Group
Treasurers
31 March
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Timetable for 2015
Action By Date
Prepare budget bid Member Group
Treasurer
31 March
Review and prepare bids
for MBFC
Member Group Team 10 April
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Timetable for 2015
Action By Date
Prepare budget bid Member Group
Treasurer
31 March
Review and prepare bids
for MBFC
Member Group Team 10 April
Consider bids and
suggest revisions
MB Finance Committee
with Member Groups
15 April
Prepare Consolidated
bid for approval by
Membership Board
MB Finance Committee
(chair)
4 May
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Timetable for 2015
Action By Date
Prepare budget bid Member Group
Treasurer
31 March
Review and prepare bids
for MBFC
Member Group Team 10 April
Consider bids and
suggest revisions
MB Finance Committee
with Member Groups
16 April
Prepare Consolidated
bid for approval by
Membership Board
MB Finance Committee
(chair)
4 May
Review and approve bid Membership Board 6 May
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Timetable for 2015
Action By Date
Prepare budget bid Member Group
Treasurer
31 March
Review and prepare bids
for MBFC
Member Group Team 10 April
Consider bids and
suggest revisions
MB Finance Committee
with Member Groups
16 April
Prepare Consolidated
bid for approval by
Membership Board
MB Finance Committee
(chair)
4 May
Review and approve bid Membership Board 6 May
Review bid and give Q1
commitment
Trustee Board 3 June
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Timetable for 2015 part 2
Action By Date
Review bid and give Q1
commitment
Trustee Board 3 June
Inform Member Groups
of Q1 commitment
Member Group Team 14 June
Sign off budget for 2015-
2016
Trustee Board 15 July
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Timetable for 2015 part 2
Action By Date
Review bid and give Q1
commitment
Trustee Board 3 June
Inform Member Groups
of Q1 commitment
Member Group Team 14 June
Sign off budget for 2013-
2014
Trustee Board 15 July
Review outcome for
Member Groups
MB Finance Committee ASAP
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Timetable for 2015 part 2
Action By Date
Review bid and give Q1
commitment
Trustee Board 3 June
Inform Member Groups
of Q1 commitment
Member Group Team 14 June
Sign off budget for 2013-
2014
Trustee Board 15 July
Review outcome for
Member Groups
MB Finance Committee ASAP
Inform Member Groups
of final budget
Member Group Team ASAP hopefully Early
August
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Points to consider when preparing your bid
Include how much you are hoping to spend
Include how what you are planning to do lines up with BCS objectives
(the five pillars)
If your bid is significantly different from last year, say why
Remember to include all regular events that you support
Do not include any extra for contingency – MBFC hold contingency
funds centrally
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Treasurers Day 2014 Questions & Answers
Treasurers Day 2015
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Lunch until 13:45
WHAT MEMBERS GROUP TEAM CAN OFFER TREASURERS
Karen Myatt
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Pre-event planning and support
Planned events – within annual budget submission or have agreed supplementary funding
Chargeable events – submit a budget with costs excluding VAT
which prompts necessary codes for online booking system we will put the event on to the BCS Calendar.
Event Booking system – must be used for those holding events in the London Office and for
those who have chargeable events. Charges should reflect – BCS Members should pay a reduced fee as should members of other
affiliated organisations
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Pre-event planning and support
Joint events with external partners – Supported by Memorandum of Understanding signed by a BCS
staff member
Group Secretary books rooms – payment via group administrator not individuals’ personal expenses. MGT have list of providers where invoicing arrangements have been
made
Time scales – < 50 delegates, ideally at least 6 weeks 50 - 150, ideally 8-12 weeks
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Support from MGT
MGT can arrange: Catering - 5 working days notice for BCS London events 10 working days external events booked by MGT
Alcohol ONLY available for evening events, agreed limits
Publicity - Brochures, posters, flyers published in-house Group to provide content for these and the calendar Lead-in time 2 months from initial instruction
Delegate packs - BCS encourage groups to be ‘paper light’ but packs
can be provided if requested at budget submission time Branded freebies are also available and speaker gifts Badges - Stickers available for free events Badge holders for chargeable events Delegate lists - available from your administrator and within your group secure
area Events booking system - is monitored and rooms reduced if necessary, with
prior notice
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Committee’s responsibilities
Setting the content and format of event – confirming speakers obtaining Bios collating speakers presentations after-dinner speakers and entertainment Sourcing – sponsors and external exhibition stand bookings, invoicing by BCS requesting BCS stands and podiums etc Identify member of committee – to be present at set up and close down MGT will not necessarily attend actual event (6 weeks notice) External Premises – should have a risk assessment in place
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On the day
Staff can man registration for 50+ paying delegates Liaise with venue in relation to AV requirements etc Committee to remove event from web pages hosted outside of BCS
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BCS London
Maximum capacity 120 Bookings up to 1 year in advance Prior agreement for posters etc No access to kitchen or staff area All printing and stationery requested prior and through Swindon Large events may require committee member to act as a door man No catering from non-approved suppliers permitted
DISCUSSION TOPICS
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New Ideas for Discussion
• You have 15 minutes on each topic, one person should take the notes
and each group will present their ideas at the end.
• The 3 topics are:
– To review the papers on Handover Process for Treasurers and the
Policy for Appealing against a Finance Committee decision.
– To review the document on what expenses can be claimed with
opinions, changes etc. The outcome of this will become practice.
– How can we help treasurers more. What else can we offer. This will
be used to drive our goals for 2025-16.
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Presentations
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Summing up
• Are their any questions about the day?
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• Thank you for giving up your time.
• There is refreshments outside if you wish to continue networking for a while.
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