SAF Finances and Treasurer Role

Transcription

1 SAF Finances and Treasurer Role

2 Big Picture Understand the interrelationship of finances between the chapter, state, Northwest Office and National What are the funding sources and opportunities Impact of membership on finances Major expenses for each budget

3 Budget Categories Revenue and pass through categories Expenditures- Committed, pass through and variable annual and special business items Pass through items include Forester s Fund, Foundation donations, etc. Committed items- items that are not subject to discretion during the year Business items-decided on each year, awards, student support, donations etc.

4 Annual Budgets Organization Income Expense National $3,800,000 $3,800,000 NW Office $ 81,000 $ 93,000 State (Oregon) $ $ Chapters (Oregon-15) $ 63,000 $ 57,500

5 Revenues Sources Source National NW Office State (0regon) Chapters (Or) Dues/Assess 42% 58% 62% 1% Annual Meeting 6% 3% 31% 16% Advertising 8% 32% 0 0 Contributions 1% 2% 3% 7% Interest/Div 19% 0% 2% 0% Forester s Fd 13% Program Rev 19% 49% Fund Raising 14% Other 5% 5% 2%

6 Expense Items Item National NW Office State (Or) Chapters (15) Personnel 70% 60% 0 0 Membership Services 5% G&A 18% 20% Western Forester 20% Fixed 63% Business 37% 36% Grants/Student 20% Meeting Expenses Other 7% 44%

7 Leverage Point Examples OSAF Budget-66% goes to support the NW Office- Dues roughly equal to assessments Annual meeting revenue supports all other OSAF activities Dues critical to fund activities-membership drives the dues NW Office revenue- 58% Assessments-other funding sources critical

8 Budgeting Goal Maximize the resources available to further the SAF mission by accomplishing the unit goals Increase revenue or decrease costs by working on the leverage points to increase resources

9 Standard Treasurer Duties Deposits, disbursements, records- cash basis Maintain the checkbook, balance statements Periodic reports on financial status to exec committee Keep financial assets safe and earn interest End of year summaries Fill out tax forms Insure books are audited yearly with a report

10 Audit Procedures Audit Charge- prepared by treasurer Elements List of financial institutions and accounts List of records used by the treasurer Review process One person with check register, income/expense report One person with bank statements One person with paid invoices/ deposit receipts Process- Transactions picked at random and verified through the records until all satisfied

11 Audit Procedures- Finish Balance- last years funds balance from statements plus income minus expenditures must equal the ending funds total from statements Audit team provides written record of results for chapter files. Audit letter- when, attendees, chair, procedure and results.

12 Annual Taxes-990 To maintain 501(c)3 tax exempt status File by state-includes state, chapters, NW Office, annual meeting, golf tournament 19 reports combined into one- transfers between the 19 are taken out Each chapter fills out the 990 Questionnaire General Questions End of year financial results section

13 Balancing The ending balance net assets from the previous year plus the tax year Revenue minus the tax year Expenses must equal the ending assets from the bank statements.

14 990 Questionnaire

15 990 Questionnaire

16 990 Instructions Line Item descriptions for 990 tax information form for 2016 Revenue (990 Part VIII) 1f Contributions, gifts, grants: Includes contributions and grants including ONREF, OSAF special projects grants, and donations for the OSAF Foundation. 1 f-1 Foresters Fund Grants: from National Grants for projects. 2a Program Service Revenue: Revenue that is mission related. Examples are revenue from a conference, workshop or annual meeting. It includes contributions from sponsors to the annual meeting. It does not include Foresters Fund receipts or donations. It does include car washes, firewood cuts, Christmas tree sales, and money collected for meals at chapter meetings. 2b Membership Dues and Assessments: Chapter dues is an example. 3 Investment Income: Interest and dividends. 8a Gross Revenue from Special Events: Gross revenue from the Annual Meeting, Foresters Fund Receipts, and the Golf Tournament only. 8b Direct expense of special events: Expenses directly associated with 8a events. 11a Other Revenue: Revenue not included in previous entries. Rarely used by chapters. Please explain any entries. Expenses (990 Part IX) 1 Grants and similar amounts paid: Examples include student scholarships (document names, amounts, and schools at bottom of page), donations to organizations like Arbor Day, ONREF, and OSAF Foundation and memorial donations to charities. 11g Professional fees and other payments to independent contractors: Probably none except the Northwest Office. 16 Occupancy, rent, utilities, and maintenance: An example is room rental (ie. World Forestry Center by the Portland Chapter) 24 Printing, publications, postage and shipping: Includes cost of direct mailing to chapter members for newsletters. Does not include annual meeting expenses; these go on line 24h. Other expenses: List separately 24a Summer forest camp student registrations 24b Purchase of items for Foresters Fund

17 Active Treasurers Prepare annual chapter budget for executive committee approval based on goals and plans Develop a financial plan to fulfill chapter objectives over time Point out opportunities related to financial matters such as fund raising, grants, appropriate use of funds, financial institutions and use of Forester s Fund Identify trends and needed action steps

18 Treasurer Continuity Many treasurers remain in job for years Multi year planning Source of knowledge on history of funding and expenditures Define trends, suggest action steps Provide counsel to new officers on financial matters

19 Summary Understanding the SAF financial bigger picture Budget Categories Leverage Points and Goals Treasurer Duties Taxes and Audits Active Treasurers