Roundtable Treasurer
One CSCMP
Agenda & Acronyms
Agenda• People to know• Facts & Resources• Treasurer Responsibilities & Activities• Sponsorships
Acronyms• RT - Roundtable• RTSC - Roundtable Service Center
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CSCMP Accounting Staff
Paul BlairAssociate Director,
Finance & Administration
[email protected]+1 630.645.3471
Shital PatelStaff
Accountant
[email protected]+1 630.645.3481
Jill CarrilloStaff
Accountant
[email protected]+1 630.645.3491
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Finance Process Team
Michelle QuachSt. Louis
Roundtable
+1 314.709.6116
Jonathan Smith
Upstate South Carolina
Roundtable
+1 864.884.1671
YOU?
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Important Items To Know
• Roundtables are not chapters: therefore local dues cannot be charged
• CSCMP is a nonprofit organization: In the US, CSCMP is considered a 501c(6) which is exempt from federal income taxes, all other taxes and fees do apply. In countries outside the US, a VAT or GST tax may apply.
• CSCMP Insurance Umbrella: CSCMP’s insurance is extended to roundtables to cover damage, accidents, and lawsuits with general and professional liability.
•*Please contact the CSCMP Roundtable Service Center if a Certificate of Liability Insurance is needed for an event
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Roundtable Officer Resources
Finance Guidebook • Full Guidebook • Treasurer Role and
Responsibilities • Quick Banking Guide • Sponsorship Guidelines,
Prospectus, • and Agreement
Templates • Treasurer Forms• Event Receipt• Invoice • Reimbursement Request • Fiscal Audit Letter
On-line Forms • Roundtable Quarterly
Report • Funds Request via
EFT• Funds Request via
Check
https://cscmp.org/roundtable/roundtable-officer-resources
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Key Responsibilities
• Prepare annual budget• Provide tracking & visibility of financial performance • Ensure books are audited annually• Manage A/R and A/P
• Communicate financial concerns and wins• Optimize cash flows & continually improve processes• Provide training during the treasury transition period
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Major Activities (Chronological)
1. Secure access to banking services
2. Prepare Annual Budget
3. Establish Event Fees
4. Provide Venue Meal Guarantees
5. Manage A/R and A/P
6. Maintain Receipts
7. Prepare & Maintain Accurate Financial Records:• Quarterly Report• Annual Audit
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Banking Services
• Move to Wells Fargo OR provide view-only access to Paul Blair, Associate Director, Finance & Administration
• Visibility assures accurate financial reporting to IRS
• At a minimum, two RT board members are on the bank accounts at all times:1. Treasurer
2. President or VP of Programs
*Effective July 1, 2014 , the RTSC bears the responsibility to open bank accounts on behalf of the RTs.*More information under CSCMP’s website: Roundtable Officer Resources J
Budgeting
• A budget is a guide for planning the roundtable’s activities and tracks financial performance.
• Once a roundtable’s goals are set for the year, the budget is developed.
• A budget can be adjusted throughout the year if revenue and expense trends are different from the original budget forecast.
• A budget measures the event’s P&L• CSCMP Budget Tool: Treasurer
Template
https://cscmp.org/roundtable/roundtable-officer-resourcesJ
Event Pricing
• Recommend event pricing that ensures financial sustainabilityo “CSCMP is nonprofit but we are also not for loss.” – Michelle
Quach
• Pricing Structure:o Standard Events: Guests have a 25% differential from memberso Non-Standard Events: Guests have a 50% differential from
members
• Revenue Sharingo 50/50% split between guest pricing differential will be shared
between the RTSC and the RT
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Cash Flow: A/R and A/P
• Registration Fees• Sponsorships• Investment
Options w/ CSCMP approval
• Event expenses• Scholarships• SC Pro Sponsorship• AGC Student
Sponsorships• Operational
Expenses• Leadership Forum
Expenses
Accounts Receivables Accounts Payables
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Bill Paying & Record Keeping
1. Maintain the records on checking account for RT to ensure financial reporting is accurate
2. Maintain the records on a savings account or CD through the RTSC
3. Keep original receipt and invoice for each disbursement
4. Maintain a record of all deposits and expenses5. CSCMP Checkbook Tool: Included in the budget file
6. CSCMP Invoice Template: Invoice Template
https://cscmp.org/roundtable/roundtable-officer-resourcesJ
Reimbursements
• Ensures proper record keeping is in place.• Allows formal documentation of the purpose
of an expense.• Sets a deadline for the treasurer to reimburse
the RT team member• Reimbursement Template: Reimbursement
Form
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Credit Card Registration Funds
• Credit card transactions processed by RTSC• To receive, use on-line "Funds Request" forms
under Roundtable Officer Resources• By check or ETF (Electronic Funds Transfer)
• Funds sent in about one week• 3% transaction fee deducted
https://cscmp.org/roundtable/roundtable-officer-resourcesJ
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 provided by RTSC• Device not aligned with DRUPAL at this time but
we have a process to manage alongside DRUPAL
• If interested, indicate on signup sheet
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Quarterly Financial Report
• The roundtable president submits the quarterly report online by the 15th of the month following the end of each quarter.
• The quarterly report should reflect the cash balance, not necessarily the bank account balance.
https://cscmp.org/roundtable/roundtable-quarterly-report M
Quarterly Financial Report Compliance
Roundtable Reports received 7/1/13-4/30/14
Baltimore 3Central Michigan 4Charlotte 4Cincinnati 2Eastern Michigan 4Jacksonville 3National Capital Area 1New England 3NYCONN 3San Diego 3Southern California 4St. Louis 4Sweden 4
• 13 of 60 RT’s reporting = 22%
• 6 in full compliance= 10%
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Annual Audit
• Formal annual audit due July 31 of every yearo Submitted by incoming RT
presidento Email to Denise Rivers:
• Informal audits encouragedo Prepared by a disinterested
person, such as an accountant or provide official bank statements to the RT president. Audit Template
https://cscmp.org/roundtable/roundtable-officer-resourcesJ
Reporting and Metrics
Sep Oct Nov Jan Feb Mar Apr May$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000 Profitability Report by Event
Profit
CSCMP Member; 8%
CSCMP Non-Mem-ber; 39%
CSCMP Mem-ber YP;
26%
Stu-dents; 26%
Contribution by Membership Type
Sep Oct Nov Jan Feb Mar Apr May$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600 Performance to Budget
Expenses
Budget
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Sponsorships
• What Can’t Be Sponsored:• Any speaker or part of a program
• What Can Be Sponsored:• Student sponsorships to AGC• Student scholarships• Seminar bags, lanyards, etc.
• RT Sponsorship Agreement:• Available on CSCMP’s website:
• Reporting:• The quarterly report must account for sponsorship revenue and expenses
separately.
• Pre-meeting networking reception• Post-meeting networking reception• Event meals• Beverage breaks
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https://cscmp.org/roundtable/roundtable-officer-resources
Q & A
Appendix: Sponsorship Details
CSCMP Sponsorship Philosophy:• All programming must be unbiased• Sponsors will have NO direct or implied input, or involvement in
programming• Sponsorships are allowed by RT Officer/cabinet member companies
with written documentation that there is no link to the sponsor company soliciting, securing, or retaining a position on the local RT board
Implications:• If a local Roundtable accepts sponsorship funds for an event, it will be
imperative that the Roundtable does not endorse the sponsor’s product or encourage roundtable members to use or buy the sponsor’s product.
• The sponsor can only be a sponsor, and not be perceived in any way as an entity or product endorsed by CSCMP or the Roundtable.
Appendix: Sponsorship Details
What a Sponsor Receives• Align company with the CSCMP brand, maximizes credibility among
the supply chain industry• Sponsored event’s registration list, the entire database is never
provided to a sponsor.• Recognition within policies, sponsor cannot be promoted but the
master of ceremonies can thank the sponsor at the podium• Networking Access, access to network with key companies• Promotion Materials, opportunity to communicate supply chain
professionals