section financial operations 3/9/2012 jim anderson nh section treasurer [email protected]
TRANSCRIPT
![Page 2: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/2.jpg)
Outline
1- Introductions
2- IEEE Section Treasurer (Quick Start) Training
3- IEEE MGA Geographic Unit Officer Position Description - Section Treasurer
4- IEEE Concentration Banking (& Credit Cards)
5- IEEE Records Retention (Schedule)
6- Other IEEE Documents
![Page 3: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/3.jpg)
Treasurer Quick Start Training
1- Common sense stuff
2- General stuff
3- First 30 days
4- Fuse of IEEE Funds at is the appropriate Use of IEEE Funds5- Responsible that subunits submit annual financial reports to the section.
![Page 4: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/4.jpg)
IEEE MGA Geographic Unit Officer Position Description
Section Treasurer
1- Mainly duplication of Quick Start
2- Must reside in the geographic boundaries of the Section????
![Page 5: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/5.jpg)
Concentration Bankingand Credit Cards
1- CB not required but highly recommended Go to person: Stacy Sheckells [email protected] 732-562-5363
2- Credit cards after CB account Go to person: Robin Madden [email protected] 732-562-6350
![Page 6: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/6.jpg)
3- No personal purchases on CB Card
Corporate card IEEE address SS# ……5555
Card limit can be increased if needed
Basically a debit card
![Page 7: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/7.jpg)
![Page 8: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/8.jpg)
![Page 9: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/9.jpg)
![Page 10: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/10.jpg)
![Page 11: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/11.jpg)
Retention Schedule page 1
General Accounting Records
General Ledger Permanent
Fixed Assets Records Permanent
Loans Receivable Ledger 7 years
* Annual Financial Reports (L-50)
Permanent
* Audit Reports Permanent
Canceled Checks 7 years
Bank Statements & Reconciliation
7 years
Support Vouchers for Payables (Paid Invoices)
7 years
Expense Reports 7 years
![Page 12: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/12.jpg)
Retention Schedule page 2
Tax Records
* Tax Records and Support Data W-2's, W-9's, 1099's, Gift Acknowledgment Letters
6 years
Personnel Records
Payroll Earning Records Employment duration plus 6 yrs
Canceled Paychecks 7 years after termination
Pension Records Permanent
![Page 13: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/13.jpg)
Retention Schedule page 3General Administrative Items
Contracts 7 years
Leases 10 years after termination
Postage Meter Record Book 1 year
General Correspondence 1 year
IEEE Related Items
* Charter Permanent
Historical Records, including records of Section Officers
Permanent
Correspondence (e-mail) can be kept electronically or as hard copy
1 year
![Page 14: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/14.jpg)
Other Documents
Review other IEEE documents as they relate to the position of Treasurer, including IEEE Bylaws, IEEE Policy Manual, IEEE Financial Operations Manual and the MGA Operations Manual.
![Page 15: Section Financial Operations 3/9/2012 Jim Anderson NH Section Treasurer james-w-anderson@ieee.org](https://reader035.vdocuments.mx/reader035/viewer/2022062618/5514aa78550346f06e8b5e98/html5/thumbnails/15.jpg)
Best Practices
1- Copy, record, endorse, and deposit all checks promptly
2- Stay on top of credit card usage3- Stay on top of deposits via V-Tools
Meetings4- Record and pay all bills promptly after
verification of accuracy and authorization