SF Bay Area Council (SFBAC) Chapter Finances Sachin Desai Santa Clara Valley Section Section Treasurer – Ex Officio Xia “Melissa” Zhang 2014 - Current.

SF Bay Area Council (SFBAC)Chapter Finances

Sachin Desai Santa Clara Valley Section Section Treasurer – Ex Officio

Xia “Melissa” Zhang2014 - Current

Mountain View, CA January 25th, 2014

YOU KNOW HAVE:

- A Key Chapter Officer Role

- A Bird’s Eye View Of All Activities

- Fiscal Responsibilities

CONGRATULATIONS

•Financial Strategy•Budget Responsibility•L-50 Report Submission

RESPONSIBILITIES

MGA Operations Manual, Section 9http://www.ieee.org/documents/section_09_10_november_2012.pdf

YOUR CHAPTER ALLY

• Chapter Meeting Minutes• Chapter New Officer Report• Chapter L31 Reports

SECRETARY

Ed Aoki - ChairJoseph Wei – Vice Chair

Xia Zhang - TREASURER

Sachin Desai – EX OFFICIO TREASURER

SECTION OFFICERS

We are here to help

As New Treasurer:

- Send Introductory Emails to Your Section Officers

- Ask Old Treasurer For All Paperwork*

- Sign “Add Signer Card” For CBRS Credit Cards**

- Sign non CBRS Bank Specific “Signatory Card”-Get Ready To File L50s By

February 15th, 2014

IMMEDIATE, SHORT TERM TASKS

* Next slide has details** If your chapter operates CBRS account

TRANSITION DETAILS

OUTGOING TREASURER

• File 2013 L50s by Feb 15th, 2014• Transfer Records To New Treasurer

• Checks• Check Register• Banking Supplies

• CBRS Deposit Stamp• CBRS Deposit Slips• CBRS Deposit Envelopes

• Provide 1099/W9 To Section

INCOMING TREASURER

• File CBRS Signatory Card with HQ• Request 2014 Credit Card• Plan and Get Yearly Budget Approved• Ensure Two Signatories for Account

• Local account += Thomas Lynch

CBRS vs. LOCAL BANKS

CBRS Makes Your Life

Easier

Easy Signatory Change (When Officers Change)

No Bank Balance Confirmation Required

Banking Transactions Via Email

Automatic Credit Card Generation

Special IEEE HQ Signature Not Required

Knowledgeable and Responsive Staff

Section Officers Can Assist Complex Transactions

DEADLINES

Jan 24th

Jan 31st

Feb 15th

1099 Forms

Taxable Payments to Individuals for Service

Bank Account Disclosure Form

Non CBRS Accounts

L50 Forms

Delivered to Section Treasurer

L50IS A

PROCESSTreasurer Secretary

So what is an L50 Process?

So what is an L50 Filing?

L50EZ vs. L50 STD

Do Any Of These Criteria

Fit Your Chapter?Then you CANNOT

use L50-EZ

Example L50-EZ

Example L50-EZ

Common Account Codes

SECTION WEB SITE‘Chart Of Accounts File’

Year End Register

Assign Expenses and

Revenue to Account

Codes

Balance RegisterCheck Bank

Register Against L50 Entries. If

Balanced, You Are Done

Remember …What Why How

IEEE Technical Meeting Member Attendees

Used In Rebate Calculations

Maintain Accurate Sign Up Sheets At Meetings

6 Technical Meetings Per Year

Used In BonusCalculations

Greater The Chapter Activity, Greater The

Benefit

L31 Entries Track “Dead or Alive” Chapter Status – Less

Than 2 Technical Meetings (3 Years In Row)

Ensure Secretary Makes vTool Entries

Timely L31 Entries Only Way For Section Treasurer To Calculate

Aforementioned Rebates And Bonuses

Ensure Secretary Makes vTool Entries