best council, bsa council training syllabus 1 financial management for council events &...

Best Council, BSACouncil Training Syllabus

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Financial Management For Council Events & Activities

Financial Management For Council Events & Activities


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Learning ObjectivesLearning Objectives• Explain the importance of financial management for

council events and activities.• Explain the steps required for financial planning and

management of a council event or activity.• Demonstrate the use of the Council Event Budget form

for both planning and reporting purposes.• Explain council policies and procedures dealing with

purchase requisitions, reimbursement checks, and event closeout reports.

• Explain the importance of financial management for council events and activities.

• Explain the steps required for financial planning and management of a council event or activity.

• Demonstrate the use of the Council Event Budget form for both planning and reporting purposes.

• Explain council policies and procedures dealing with purchase requisitions, reimbursement checks, and event closeout reports.


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IntroductionIntroduction

1. Protect our council’s volunteers2. Enact proper controls over council

resources3. Have and maintain auditable records,

certain fundamental accounting procedures are required to be followed

1. Protect our council’s volunteers2. Enact proper controls over council

resources3. Have and maintain auditable records,

certain fundamental accounting procedures are required to be followed

What’s the Big Deal?What’s the Big Deal?


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Event Financial PlanningBefore the Event…

Event Financial PlanningBefore the Event…

• Event Budgets• Purchase Requisitions/ Council Charges• Petty Cash/ Specific Checks for Items• Emblems/ Patches or Other Customized

Items

• Event Budgets• Purchase Requisitions/ Council Charges• Petty Cash/ Specific Checks for Items• Emblems/ Patches or Other Customized

Items


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Event BudgetsEvent Budgets

• Must be submitted and approved prior to the event

• Includes a 15% contingency plan for unforeseen expenses

• Budget must show a positive (+) gain

• Must be submitted and approved prior to the event

• Includes a 15% contingency plan for unforeseen expenses

• Budget must show a positive (+) gain

Shawnee Trails Council, BSAEvent Budget

Date of Event Event

Event Chairman Event Adviser

Budget Actual# Items Per Item Total # Items Per Item Total

INCOME

Pre-Registration (Youth) . . . . . . . . . . . . . . . 50 X $10.00 = 500.00 X $10.00 = -

Registration (Youth) . . . . . . . . . . . . 30 X $15.00 = 450.00 X $15.00 = -

Walk-On Registration (Youth) . . . . . . . . X = - X $0.00 = -

Pre-Registration (Adult) . . . . . . . . . . . . . . . X = - X $0.00 = -

Registration (Adult) . . . . . . . . . . . . X = - X $0.00 = -

Walk-On Registration (Adult) . . . . . . . . X = - X $0.00 = -

Staff Registration fee X = - X $0.00 = -

X = - X $0.00 = - Other Income


(A) Total 950.00 (C) Total -

EXPENSES

Food . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 X $2.50 = 200.00 X = -

Event Patches . . . . . . . . . . . . . . . . . . . . . . . . . . . 200 X $1.75 = 350.00 X = -

Printing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500 X $0.25 = 125.00 X = -

Postage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500 X $0.41 = 205.00 X = -

Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 X $1.00 = 80.00 0 X 1 = -

Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 X $15.00 = 15.00 X = -

Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 X $0.00 = - X = -

Program Supplies . . . . . . . . . . . . . . . . . . . . . . 1 X $10.00 = 10.00 X = -

Travel 1 X $275.00 = 275.00 X = -

X = - X = -

X = - X = -

X = - X = -

X = - X = -

Provision for Unexpected Expenses(10% of total revenue) . . . . . . . . . . . . . . 95.00 (Per Council Policy)

(B) Total 1,355.00 (D) Total - Projected Actual

Youth 80 0 Projected Surplus (SubtractAdult 0 0 (B) from (A) - This should Net Profit (Loss) -Total 80 0 always be positive ($405.00) Subtract (D) from (C) -

EVENT BUDGET PREPARED BY Pre-Event Approval Post-Event Review

Signature Date Signature Date Signature DateForm: Event Budget Last Revised: 8/9/2007

ATTENDANCE


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• Only the “shaded” areas need to be completed

• Ensure that all expense items are accounted for in the budget

• Only the “shaded” areas need to be completed

• Ensure that all expense items are accounted for in the budget


Date of Event Event



INCOME











EXPENSES

Food . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 X $2.50 = 200.00 X = -

Event Patches . . . . . . . . . . . . . . . . . . . . . . . . . . . 200 X $1.75 = 350.00 X = -

Printing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500 X $0.25 = 125.00 X = -

Postage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500 X $0.41 = 205.00 X = -

Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 X $1.00 = 80.00 0 X 1 = -

Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 X $15.00 = 15.00 X = -

Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 X $0.00 = - X = -


Travel 1 X $275.00 = 275.00 X = -

X = - X = -

X = - X = -

X = - X = -

X = - X = -






ATTENDANCE


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Let’s Practice!!!

Use the Event Budget form to plan a mock

activity.

Let’s Practice!!!

Use the Event Budget form to plan a mock

activity.


Date of Event Event



INCOME











EXPENSES

Food . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 X $2.50 = 200.00 X = -

Event Patches . . . . . . . . . . . . . . . . . . . . . . . . . . . 200 X $1.75 = 350.00 X = -

Printing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500 X $0.25 = 125.00 X = -

Postage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500 X $0.41 = 205.00 X = -

Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 X $1.00 = 80.00 0 X 1 = -

Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 X $15.00 = 15.00 X = -

Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 X $0.00 = - X = -


Travel 1 X $275.00 = 275.00 X = -

X = - X = -

X = - X = -

X = - X = -

X = - X = -






ATTENDANCE


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Purchase Requisitions/ Council ChargesPurchase Requisitions/ Council Charges

Submit requests at least 2 weeks prior to the desired receiving date (some items require more lead time)

Purchase requisitions shall designate: how many items to purchase, what the item(s) are, how much each will cost, where they will be purchased and the name of the budgeted area to which the expense is to be recorded

Submit requests at least 2 weeks prior to the desired receiving date (some items require more lead time)

Purchase requisitions shall designate: how many items to purchase, what the item(s) are, how much each will cost, where they will be purchased and the name of the budgeted area to which the expense is to be recorded


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Petty Cash/Specific Checks for ItemsPetty Cash/Specific Checks for Items

Checks before the event can only be issued based on the amount received for the event through the date of the request and based upon a review of prior obligation for expenses. Requests should be made 2 weeks prior to the event or date of need.

Checks before the event can only be issued based on the amount received for the event through the date of the request and based upon a review of prior obligation for expenses. Requests should be made 2 weeks prior to the event or date of need.


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Emblems/Patches or Other Customized Items

Emblems/Patches or Other Customized Items

Allow 8-10 weeks for orders to be processed once the quote has been received and accepted. All items must be reviewed by the Scout executive or authorized council designee. Be sure the vendor has been approved by National Supply, BSA before placing an order.

Allow 8-10 weeks for orders to be processed once the quote has been received and accepted. All items must be reviewed by the Scout executive or authorized council designee. Be sure the vendor has been approved by National Supply, BSA before placing an order.


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Event Financial ManagementDuring the Event…

Event Financial ManagementDuring the Event…

• Field Receipts• Managing Petty Cash Expenses• Managing Collected Money

• Field Receipts• Managing Petty Cash Expenses• Managing Collected Money


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Field ReceiptsField Receipts

Field Receipts must be issued to the person submitting the money for all money received during the event.

– Registration Fees– Trading Post Sales– Yearly Dues

Field Receipts must be issued to the person submitting the money for all money received during the event.

– Registration Fees– Trading Post Sales– Yearly Dues


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Field ReceiptsField Receipts

A copy of the field receipt is required to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council.

A copy of the field receipt is required to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council.


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Managing Petty Cash ExpensesManaging Petty Cash Expenses

1. A copy of the field receipt is required to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council. Petty Cash check is requested from the Scout Service Center at least 4 weeks in advance of the event or activity.

2. Once petty cash check is received, cash check for use during the event.

3. All petty cash expenses should be recorded on the Petty Cash form and the associated sales receipt enclosed in an attached envelope

1. A copy of the field receipt is required to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council. Petty Cash check is requested from the Scout Service Center at least 4 weeks in advance of the event or activity.

2. Once petty cash check is received, cash check for use during the event.

3. All petty cash expenses should be recorded on the Petty Cash form and the associated sales receipt enclosed in an attached envelope


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Managing Petty Cash ExpensesManaging Petty Cash Expenses

4. At the close of the event, list the balance petty cash amount and include in the attached envelope. Reconcile all expenses and the remaining balance against the initial petty cash check amount.

5. Turn in petty cash form, receipts, and outstanding balance to the Scout Service Center or to a bonded employee.

4. At the close of the event, list the balance petty cash amount and include in the attached envelope. Reconcile all expenses and the remaining balance against the initial petty cash check amount.

5. Turn in petty cash form, receipts, and outstanding balance to the Scout Service Center or to a bonded employee.


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Managing Collected MoneyManaging Collected Money• Money should be stored in a locked location at

all times during the event.• Store all field receipts with the money at all

times in order to avoid losing the required receipts for the collected money.

• When youth are working with registrations or trading post sales, always ensure that a responsible adult is assisting with the money collection.

• Money should be stored in a locked location at all times during the event.

• Store all field receipts with the money at all times in order to avoid losing the required receipts for the collected money.

• When youth are working with registrations or trading post sales, always ensure that a responsible adult is assisting with the money collection.


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Managing Collected MoneyManaging Collected Money• Always keep money collected for different

purposes separate.

For example, use one envelope to collect registration fees, another envelope to collect trading post sales, and a third envelope for money collected for the World Brotherhood of Scouting fund. The Scout Service Center is required to process these collections differently (i.e. trading post sales require taxes to be paid).

• Whenever possible, always entrust collected money to a bonded council employee for holding during the event.

• Always keep money collected for different purposes separate.

For example, use one envelope to collect registration fees, another envelope to collect trading post sales, and a third envelope for money collected for the World Brotherhood of Scouting fund. The Scout Service Center is required to process these collections differently (i.e. trading post sales require taxes to be paid).

• Whenever possible, always entrust collected money to a bonded council employee for holding during the event.


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Event Financial CloseoutAfter the Event…

Event Financial CloseoutAfter the Event…

• Reimbursement Requests• Budget Closeout• Report any accidents

• Reimbursement Requests• Budget Closeout• Report any accidents


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Reimbursement RequestsReimbursement Requests

Reimbursements must be submitted with a copy of the sales receipt to be approved for payment.

No reimbursements will be made without a detailed receipt accounting for the expense and prior authorization from the Scout executive.

Reimbursements must be submitted with a copy of the sales receipt to be approved for payment.

No reimbursements will be made without a detailed receipt accounting for the expense and prior authorization from the Scout executive.


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Budget CloseoutBudget Closeout

• Must be submitted within 7 days after the event or activity.

• Use the same “approved” budget form to record actual revenue and expenses for the event.

• Needed to help prepare future budgets for similar events.

• Must be submitted within 7 days after the event or activity.

• Use the same “approved” budget form to record actual revenue and expenses for the event.

• Needed to help prepare future budgets for similar events.

Let’s Practice Again!


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Accident ReportsAccident Reports

Within 3 days after the date of the completion of the event, complete a report to Scout Service Center indicating any injuries incurred. If insurance claims are filed against these injuries, the council needs to know about them as soon as possible.

Within 3 days after the date of the completion of the event, complete a report to Scout Service Center indicating any injuries incurred. If insurance claims are filed against these injuries, the council needs to know about them as soon as possible.


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SummarySummary• All events will require budgets which do not

reflect a loss on the project. No expenses may be incurred for a council event or activity until a budget has been submitted and approved.

• Each event budget requires a provision for unexpected expenses equal to 15% of total expenses budgeted

• All events will require budgets which do not reflect a loss on the project. No expenses may be incurred for a council event or activity until a budget has been submitted and approved.

• Each event budget requires a provision for unexpected expenses equal to 15% of total expenses budgeted


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SummarySummary• All monies/fees collected for district and council

events, supply sales, product sales, etc. should be mailed to, received by and processed/receipted by the Scout Service Center prior to deposit into the corporate account.

• Money received at the time of the event requires: (1) a field receipt be issued to the one submitting the money and (2) a copy of the field receipt to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council.

• All monies/fees collected for district and council events, supply sales, product sales, etc. should be mailed to, received by and processed/receipted by the Scout Service Center prior to deposit into the corporate account.

• Money received at the time of the event requires: (1) a field receipt be issued to the one submitting the money and (2) a copy of the field receipt to be included with the money when the money is sent to Scout Service Center by the duly appointed representative of the council.


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SummarySummary• It is always appropriate to turn over field receipt copies

and monies collected to a bonded employee for immediate transfer to Scout Service Center and deposit into the corporate account.

• Disbursements to pay expenses should be paid directly by Scout Service Center. No revenue collected should be used for expenses during the event.

• Payment of expenses by volunteers for which reimbursement is requested must be: (1) based on the approved budget, (2) supported by receipts, invoices, etc., and (3) have prior authorization by the Scout executive.

• It is always appropriate to turn over field receipt copies and monies collected to a bonded employee for immediate transfer to Scout Service Center and deposit into the corporate account.

• Disbursements to pay expenses should be paid directly by Scout Service Center. No revenue collected should be used for expenses during the event.

• Payment of expenses by volunteers for which reimbursement is requested must be: (1) based on the approved budget, (2) supported by receipts, invoices, etc., and (3) have prior authorization by the Scout executive.


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AnyQuestions?

AnyQuestions?

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