Treasurer UNLV Alumni Association Leadership Development Day March 3, 2012.
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Transcript of Treasurer UNLV Alumni Association Leadership Development Day March 3, 2012.
The Basics
The chapters operate under 501(c)3 umbrella of the UNLV Alumni Association
Each chapter has a sub-account with the association
The chapter board of directors is responsible for activities conducted under the name of the chapter
Steve Barela in Alumni Relations functions as the “Bank Teller” and accepts deposits and distributes checks
Mission
The UNLV Alumni Association exists to promote a strong relationship between UNLV alumni and the university community by providing volunteer leadership, support and other resources for the benefit of UNLV and the Association.
Responsibilities of the Treasurer
Track and report budget and income and expenses on behalf of your chapter board
Deposit funds collected from events, donationsSubmit check requests and other documents as needRecommend chapter financial policies and
proceduresKeep up-to-date with association financial policies
and proceduresReconcile chapter financial records with those of the
association and report issues in a timely manner
Responsibilities of the Association
Maintain financial policies and procedures to protect the assets of the association and its chapters
Protect the nonprofit status of the associationEnsure the association's accountant is accurately
managing chapter accounts as expectedReport account balances on a quarterly basisPrepare annual tax return (the dreaded 990)Prepare and submit association and chapter bi-
annual financial audit to Board of Regents (roughly a $30,000 expense)
Chapter Board Authority
Board reviews and approves activities of the chapter
Before each activity, a budget and the activity must be approved by the board
Any expense outside the board-authorized amounts may or may not be paid, depending on the decision of the board
Budgeting
Goal: Create annual budget approved at annual retreat or start of fiscal year
Objective: Establishes a plan for chapter activities and financial expectations for coming year
Budget should include: Income projections Expense projections Projected net income (loss)
Sample Budget
INCOMESponsorship $700Mixer tickets $100
EXPENSEInvite to mixer $300Mixer F&B $350
NET INCOME $150
How to Spend Chapter Funds
Complete a Check Request formInclude either:
Invoice with completed W-9 Receipts for reimbursement
Send check request and materials to Steve Barela: [email protected] or fax to 702-895-4282 Box 451010, 4505 S. Maryland Pkwy., Las Vegas, NV
89154-1010
How to Deposit Chapter Funds
Complete a Chapter Deposit formInclude deposit items such as cash, checks,
credit card slips. We’ll process credit cards for you!
Schedule appointment with Steve Barela to make the deposit **IMPORTANT** Steve is the “bank teller” and only
employee with access to the safe. Make sure he is available to receive your deposit
Consider asking your liaison staff member to walk the deposit to our office
[email protected] or 702-895-2378
How to Deposit Chapter Funds (cont.)
At the office, Steve will confirm the deposit and provide you with a signed copy of the deposit form. This is your receipt. Claims of missing deposits WILL NOT be honored without presentation of valid receipt.
Member Dues
Automatically transferred to your chapter account
Member dues are transferred monthly to your chapter account
Treasurer will receive report itemizing dues paid
Bank/Accounting Charges
Credit card transaction fees of 3.9% will be billed to your chapter account on a monthly basis
At this time, the association picks up the cost of accounting fees and bank charges not otherwise outlined above
Reporting
Alumni Relations staff will prepare quarterly reporting which covers: Membership Dues Bank card fees
The accountant will report chapter account balances quarterly as well
Annually, the accountant will prepare year-end chapter account balances
Audit
When the treasurer receives quarterly account balances, verify your records match the numbers reported by the accountant
If a discrepancy is found, notify Steve Barela immediately
Recommend each chapter establish an audit process that includes other board members who review transactions in detail to safeguard against loss and errors in reporting
Next Steps
Create a 3-ring binder for chapter finances and organize into the following information: Chapter budget Chapter account register Copies of Check Requests and Deposit forms Reports from the Alumni Association Treasurer reports to your chapter board Instructions/forms
Transfer the finance binder to the new treasurer at the end of your term
Chapter Sponsor Programs
Provide Visibility Web site, newsletter, emails, events, announcement at
event
Create Opportunities Events/programs, networking
Sell! Personal emails, phone calls to partners Cold-call for new sponsors, bargain & negotiate, mid-
year discounts
Value Proposition to Sponsors
Provides an opportunity for sponsors to develop a partnership that will result in increased visibility among the chapter’s members and the university
Show support for UNLV
Engage Alumni
Discounts for existing sponsors and members
Sponsor Program Goals
Secure partnerships for mutual beneficial or WIN-WIN relationship
Increase sponsor support and exposure at individual events relevant to sponsor business
Increase sponsor awareness through multiple communications channels
Create affordable annual and event sponsorships
Communication
Quarterly emails to sponsors to ensure they are abreast of chapter events and programs and new opportunities
Sponsors receive benefits though three areas: Brand Awareness Networking/Marketing Tax Deduction
Sponsor Benefits Ideas
Complimentary tickets to Chapter eventsOpportunities to meet membersLiterature distribution at events/programsPodium recognition for Event SponsorsLogo on websiteTax deduction
Pricing
Price based on expected attendance Include guests, university staff
Suggestion: $250 for events with expected attendance of 50 or less $500 for events w/ 51-100 people $750 for events w/ 101-150 people $1,000 for events w/ more than 151 people