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Chapter Budget

Chapter Budget. Why? How? Show me!. Chapter Budget - Why budget?. Establish priorities Shows what you can afford Communicates reimbursement plans. Chapter budget - How to create?. Determine categories List actual for recent years Project current year Estimate budget year

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Chapter Budget

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  1. Chapter Budget Why? How? Show me!

  2. Chapter Budget - Why budget? • Establish priorities • Shows what you can afford • Communicates reimbursement plans

  3. Chapter budget - How to create? • Determine categories • List actual for recent years • Project current year • Estimate budget year • Review by Executive Board

  4. Budget – Categories (Income)

  5. Budget – Categories (Expense)

  6. Budget – Actual (Income)

  7. Budget – Actual (Expense)

  8. Budget – Project current (Income)

  9. Budget – Project current (Expense)

  10. Budget – Estimate budget (Income)

  11. Budget – Estimate budget (Expense)

  12. Chapter budget – Now what? • Treasurer to compare actual to budget • Advise Executive Board • Revise if necessary

  13. Record keeping • Excel Bank Account Ledger template • Excel Treasurer’s Report template • Alzheimer’s donations • NARFE PAC donations

  14. Record keeping – Account Ledger

  15. Record keeping – Treasurer’s Report

  16. Record keeping – S/D Funds • “Special/Dedicated Fund” • Alzheimer’s • NARFE-PAC • Separately accounted for and disbursed by the treasurer or secretary/treasurer • All such monies should be recorded and appropriately identified by fund • in and out entries in identical amounts • Checks made payable directly to the Alzheimer’s Association or to NARFE/FEEA are tax deductible • http://www.narfe.org/pdf/ChapterAlzManual.pdf

  17. Record keeping – Alzheimer’s • All monies collected, other than for NARFE PAC, whether through the national dues collection system, fundraising activities or other methods, must go through the chapter treasury. When collected, these monies become dedicated funds and must be used for the purpose intended or collected. Monies collected for different reasons must not be commingled. The chapter’s treasurer must maintain a separate account in the financial records for each of these types of funds. The chapter’s treasurer should use a chapter’s check to disburse funds from these accounts. Any questions regarding the disbursement of funds should be addressed to the National Treasurer (nattreas@narfe.org). • http://www.narfe.org/pdf/ChapterAlzManual.pdf

  18. Record keeping – NARFE PAC • Q: Can we collect money for NARFEPAC at a chapter meeting or federation convention? • A: Yes. Collecting money at chapter meetings and federation conventions is encouraged. However, due to FEC rules, if the collection is made at a chapter or federation meeting, the individual contributions to NARFE-PAC cannot be consolidated and sent to NARFE Headquarters in the form of a chapter or federation account check. Personal checks payable to NARFE-PAC can be sent directly to the National Office, while cash contributions collected at a meeting can be consolidated into a single cashier’s check or money order. Accompanying the contributions must be a roster identifying the name of the event at which the contributions were made (chapter meeting), the date of the meeting, the name (and membership ID number if possible) of the donor and amount given, along with the total amount collected. • http://www.narfe.org/pdf/5_PAC_FAQ.pdf

  19. Record keeping – NARFE PAC • Q: Can a check to NARFE-PAC be written from a chapter or federation checking account? • A: No. NARFE-PAC is governed by the rules and regulations of the FEC. Checks from federation or chapter accounts may not be used to transmit NARFE-PAC contributions from chapter members or the chapter at large. • There are additional rules to consider. • http://www.narfe.org/pdf/5_PAC_FAQ.pdf

  20. Record keeping – National Bylaws • National Bylaws adopted at the 2012 National Convention: • Section 3, item G  “All funds derived from membership fees and dues shall be used only to support Association objectives”.  • Objectives are also outlined in the bylaws.

  21. Record keeping – Filing 990-N • Must file tax return even if no income earned • 990-N “Electronic Notice (e-Postcard) for Tax-Exempt Organizations” if gross receipts $50,000 or less for yearhttp://epostcard.form990.org • 990 or 990-EZ “Return of Organization Exempt from Income Tax” if gross receipts > $50,000 average over three consecutive year (including tax year) • 990T “Exempt Organization Business Income Tax Return” if income of $1,000 or more from activity substantially unrelated to the main purpose of your chapter (e.g. Advertising)

  22. Record keeping – Filing 990-N

  23. Record keeping – Filing 990-N

  24. Who do I get files from? • Chris Boettger • Treasurer, NARFE Spokane Chapter 32 • icboettger@comcast.net

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