Section & Branch Finance and Accounting

1. Section & Branch Finance and Accounting

2. Purpose of Session Introduce available resources Familiarize with Section Financial Manual Provide information on organizational structure Money Theory Review budget practices

3. Organizations • Sections – very small to large • Some with subsidiary organizations, some without • Branches • Other subsidiary organizations • Younger member groups • Technical committees • Institute branches • Endowments & trusts • Scholarship funds • Branches and others must report to their Section

4. National Resources • Xythos server – All Section and Section folders • All Sections • Each Section – Link sent to treasurer • Manual, spreadsheets, checklists and forms • Finance Dept. contacts and assistance • QuickBooks on-line • Excel worksheet for Form 990-EZ return preparation • Insurance coverage

5. Tax-Exempt Status All Sections federal tax exempt under ASCE exemption Section tax IDs are registered with IRS Branches and other subsidiary organizations use Section tax ID Never use the ASCE National ID: 13-1635293 501(c)(3) charitable and scientific – contributions may be deductible Must file federal 990-N, 990-EZ or 990 to maintain tax-exempt status Returns are due Feb 15; two 3-month extensions are allowed ASCE Finance assists with federal filings Finance Manual has instructions for Forms 990-N and 990-EZ

6. Organizational Structure Unincorporated associations Branches and other subsidiary organizations Student chapters Reserves ASCE annual allotment State registration and reporting

7. Money Theory Top Secret

8. Money Theory Reserves Services Save It Spend It

9. Money Theory • Reserve Policy • Up to each group to determine • Many groups chose 25% TO 100% of annual budget goal. • Society uses 35% goal. • Uses • Buffer a bad program or year. • Annuity (scholarship) • Save for large upcoming event (host national meeting)

10. Money Theory • Spend It • Money collected from members to be used for members. • Provide programs and service. • If you need help, check out CGU’s Best Practices Manual. • Membership depends on local satisfaction. • Control expenses by use of budget. • If you get a number of unexpected requests, may want to budget some amount to be distributed throughout year.

11. Budget Practices Establish organizational goals Budget revenue and expense relating to realistic goals or objectives – activities Have governing body understand and approve Use budget to monitor actual financial activities

12. Questions… and Answers?