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BCS Membership BoardTreasurers’ day
10th February 2016
INTRODUCTION AND AGENDAIan Sunley
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Agenda
Morning 10:30 – 13:00
• Introduction objectives of the day.(IS)
• Report on Changes we are looking at and why.
• Discussion on proposed changes.
• The current financial position of both the Institute and Membership Board(IS)
• Accounting requirements and Financial rules (HA)
• The budget process for FY 2015-2016
• Questions and Answers
Afternoon 14:00 to 16:30
How to get Funding Sponsorship. (KF)
New Strategy Presentation (IT)
Q&A on Strategy
Unconscious Bias Training
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Objectives for the day
1. To make it easier for Treasurers and MB
Finance Committee to work together
2. To explain the budget process for the
Financial Year 2016-2017
3. To keep you up to date with financial
processes and guidelines.
4. To get your input into the processes we
use.
5. To keep you up to date with the changes
in the Institute
“
Governance and MB Finance Committee
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MB Finance Committee Terms of Reference
• Purpose
• Responsible to Membership Board for financial rules, processes and procedures for
Member groups
• Establish administer and allocate the budget for all membership functions
• Optimise the use and take up of funds through review and reallocation
• Responsibilities
• Consult over changes
• Define and agree levels of authority
• Define and agree internal auditing controls to monitor compliance with internal policies
• Ensure the budget process is handled smoothly in a timely fashion
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Finance Committee & Current position
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Members of Finance Committee at 21st January 2016
Ian Sunley – Chair
Terence Freedman
Ian Speller
Dan Hayton
Andy Cox
Melanie Calver
Judith Taylor (Head of Member Groups Team)
We need 1 new member if anyone is interested
With support from
Josephine Jones
Helen Axam (Financial Accountant)
Karen Myatt.
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New Names
• Ian And Melanie joined us after the last Treasurers Day and bring new eyes to the
committee.
• Josephine (Joe) has taken over a lot of the day to day work from Helen who is now also
involved in other areas of the institute.
• We will be looking for another member of the finance committee in the next few months
so anyone interested please contact me over lunch or via E Mail.
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New Management at HQ
• BCS HQ has had major changes in the last 12 months and a new structure.
• Group Chief Executive – Paul Fletcher
• Group Finance Director – Rob Deri. Just in Post.
• Director, BCS Academy of Computing – Bill Mitchell
• Director, IT and operations – Carl Harris
• Director, Policy and Community – David Evans
• Director, External Affairs – Adam Tilthorpe
• Director, Group Marketing – Helen Fisher
• Director, Standards – Jeremy Barlow
• CEO, Learning & Development Ltd – Jon Buttriss
• Deputy CEO, Learning & Development Ltd – Lucy Ireland.
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Proposals for changes for 2015/16
• There is a new accounting system being installed in Swindon so we are asking for the
following changes:
– Each member group can look at their accounts via the web.
– The budget will be submitted via the web.
– SFRs will be also submitted via the web.
• There is a new SFR document proposed – you should all have a copy. Changes include
– Now only 3 point strategy but its critical you meet some criteria.
– Need to know what rollover funding you have left.
– There is a column to allow us to link SFRs across 2 financial years
• Last year two of the conferences made a substantial loss (totalling > £15K). As a result
we have experimented with a couple of conferences by asking them to have review points
where they could cancel or change something if it looks like making a large loss. This
seems to have worked. I propose that ALL conferences set review points to report to
Finance Committee so we can assess potential failures.
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More changes
• We have had a small number of cases where a group has asked for funds AFTER and
event even though they knew in advance that event was occurring. We need a system to
stop this as it appears to be blackmail. One suggestion is that if it happens once in a 3
year period you are warned, next time 25% IS DEDUCTED, 3rd time 50% etc. We are
open to suggestions
• How do we handle Capital Expenditure? A proposed form has been circulated.
• Finally an appeal to you. When we allocate your budget we sometimes give reduced
money(sometimes because we have queried something and not had a valid response).
We ALWAYS say why this has occurred. To those who complain they have a reduced
budget and do not know why. READ ALL THE EMAIL PLEASE when you receive it NOT
4 months later.
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Discussion time
•You have heard the suggestions now its your turn
to ask questions and put forward ideas.
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The Current Financial position of both the Institute and Membership Board
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Year end results for Institute 14/15
Income 2015 2014
(£000) (£000)
Investment Income 83 113
Membership and other Professional Programmes 10345 8684
Qualifications and Examination Programmes 23853 17727
Publications 808 708
Other income 378 152
35467 27384
Less: Income from joint venture included in above (302) (247)
--------- ---------
Total Income 35165 27137
Expenditure
Membership and Other Professional Programmes 9851 7412
Qualifications and Examination Programmes Publications 21776 17322
Governance costs 448 453
Less: costs of joint venture (included above) (3) (4)
Total expenditure 32400 25621
Net income before goodwill (Income – Expenditure) 2765 1516
Goodwill amortised (193) (193)
Net income after goodwill 2572 1323
Net share of results of joint venture 299 243
Net income for year 2871 1566
The data above is from the Trustees Board report for the AGM 2014/15 available on the BCS web site
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Membership Groups Accounts 2014/15
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Current results 14/15
HOW SWINDON AND THE TREASURERS WORK TOGETHER
Helen Axam
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Interactive Session
The aim of today’s session is to
• Cover the salient points of the Guidelines For Treasurers
• Cover the daily / weekly / monthly / annual tasks
• How Swindon finance supports the treasurers
• How you can help Swindon and yourselves
• Cover the completion of various forms
• VAT – income and expenditure
• Monthly financial statement
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Treasurers’ Guidelines
EXPENDITURE
• What do you class as “Expenditure”?
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Treasurers’ Guidelines
EXPENDITURE
• What do you class as “Expenditure”?
• A purchase invoice.
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Treasurers’ Guidelines
EXPENDITURE
• What do you class as “Expenditure”?
• A purchase invoice.
• An expense claim.
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Treasurers’ Guidelines
EXPENDITURE
• What do you class as “Expenditure”?
• A purchase invoice.
• An expense claim.
• A cheque raised at Swindon for e.g. a Student Prize
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Treasurers’ Guidelines
EXPENDITURE
• What do you class as “Expenditure”?
• A purchase invoice.
• An expense claim.
• A cheque raised at Swindon for e.g. a Student Prize
• Bank charges associated with paying an invoice or claim overseas
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Treasurers’ Guidelines
INCOME
• What do you class as Income?
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Treasurers’ Guidelines
INCOME
• What do you class as Income?
• Event Income net of VAT (before VAT is added on)
– All chargeable events must go through the BCS Event Booking
System. To assist with this a completed budget proforma will be
required by the Member Groups Team (MGT).
– This will ensure that the income (net of VAT) will correctly be posted
to your monthly accounts
– Please note – I examine the income earned each month and hold it in
a balance sheet account called Income in Advance, until the actual
month the event happens
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Treasurers’ Guidelines
INCOME
• What do you class as Income?
• Event Income net of VAT (before VAT is added on)
• Sponsorship Income net of VAT, by external parties
– If you are successful in securing Sponsorship, please contact me so
that I can help you with the details required to raise an invoice from
Swindon to your Sponsor. We need to get the invoicing details
correct at the start to avoid non-payment of invoices.
– This will ensure that the Income is posted to your accounts correctly
– Not to be confused with Donations.
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Treasurers’ Guidelines
INCOME
• What do you class as Income?
• Event Income net of VAT (before VAT is added on)
• Sponsorship Income net of VAT, by external parties
• Donations (exempt of VAT)
– Definition of a Donation – “Donations are given without return
consideration”.
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Routines – daily/weekly/monthly/annually
DAILY / WEEKLY
• Monitor emails and post for financial information
• Preferred for invoices and claims to come to Swindon Finance first.
• Scan in expense claims with receipts when received – send to Joe
• Scan in invoices too and send to [email protected]
– Why? So they don’t get lost or forgotten or build up and so Swindon
can arrange payment in a timely manner
MONTHLY
• Approaching month end, ensure that all of the above have been
submitted
• Review monthly accounts (more on this later)
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Routines – daily/weekly/monthly/annually
ANNUALLY
• With the July accounts, I will send you a Year End Return Form
• Keep this safe for the year end date of 31st August
_______________________________ Member Group
2015/16 Year-end Return
Transactions relating to the 12 months ended 31 August 2016. Please tick one box
All the transactions for the Branch/SG have already been completed.
The attached claims/invoices are the last for the Branch/SG.
In addition to claims/invoices already sent to you, the following expenditures should be taken into account.
Creditors: Goods and services to be received by 31 August 2016 for which invoices have not yet been received or an expenses claim submitted.
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Supporting each other
HOW Swindon SUPPORTS YOU
• Seeking your approval for expenditure
• Processing documents in a timely fashion
• Paying suppliers and expense claimants in a timely fashion
• Publishing monthly financial statements
• Here to help – any questions, big or small, we answer them all
HOW YOU CAN HELP Swindon AND YOURSELVES
• Respond as soon as possible to any communication from either finance
or the Member Groups Team. Please let us know about holidays
• A simple thing – please enter the name of your member group in the
subject field of all emails
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Completion of forms
• Expense claim forms (sample of areas to be completed follows)
• Overseas claimants need to provide us with different bank details –please ask me in advance for a relevant form I can send you
• Signature forms of officers (Treasurer, Chair and Secretary)
– After your AGM, if there is a change in officers then the signature form for the next f/yr must be completed. If I do not have sample signatures for the officers, they cannot sign off any documents (KPMG Audit Rules). If no change, then a quick email from the treasurer can let me know this
• Year end forms
• Chargeable Event Pro-formas – contact [email protected]
• Supplementary Funding Requests (SFR’s) – contact [email protected] bit on this later
• All available on www.volunteer.bcs.org various sections
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Completion of an Expense Claim Form
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VAT
WHY DO WE ALWAYS REFER TO “NET OF VAT”?
• BCS is VAT registered. This means that we are obliged to charge VAT
on all income (except Donations). VAT on income we invoice is called
“Output VAT”.
• Any supplier who is VAT registered themselves, will charge us VAT on
expenditure that we buy. VAT on expenditure is called “Input VAT”.
• The VAT on income is paid to HMRC
• The VAT on invoices can be claimed back from HMRC. Full VAT if
relating to a chargeable event, partial VAT if not. No VAT can be
claimed back on submitted expenses (HMRC rules).
• Hence – net of VAT. All of this is actioned by Swindon
• Example follows
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VAT Example
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Monthly Financial Statements
INCOME AND EXPENDITURE STATEMENT
• This is an overall summary of the member group’s financial activities
each month.
• It will show you any income earned (in the correct month)
• It will show you any expenditure (in the correct month)
• You can see the individual month’s figures
• You can see the year-to-date accumulative figures
• You MUST monitor your income and especially expenditure against
your approved annual allocation. Do not allow the member group to
overspend.
Example follows
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Sample of monthly financial statementshowing Income
YR 14/15 Dec Management Accounts Report
Period Period Period YTD Period YTD Full Year Budget
Period Actual Period Budget YTD Actual YTD Budget Full Year Budget
INCOME
150 100 200 400 600
Income 150 100 200 400 600
EXPENSE
3010: Travel/Subsistence (Other) 14 33 14 133 400
4100: Postage 0 3 0 10 30
4110: Room Hire 30 33 50 133 400
4130: Speakers expenses 0 11 0 43 128
4150: Catering 274 52 314 208 623
4290: Subs to Other Bodies 0 1 0 5 15
5102: Student Prizes & Membership 0 34 150 135 404
Expenditure317 167 527 667 2,000
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Monthly Financial Statements
EXPENDITURE TRANSACTIONS
• This tab shows you what you’ve spent your budget allocation on!
• This is a summary of invoices, expense claims, cheques raised at
Swindon etc. and is presented as year-to-date.
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Expenditure
TRANSACTION REPORT
Expenditure, Dec YTD 15/16TOTAL £527.23
Account Name Date Amount Ref. Description Supplier
5102: Student Prizes & Membership 29 Sep 2013 150.00 270267EXP-PG-29/9 PROF P M DONALD
5102: Student Prizes & Membership 30 Sep 2013 150.00 SEP020Provide accrual AXAM001 exps in hand not yet posted Not Applicable
4150: Catering 30 Oct 2013 37.50 271204SMIN023773 ROBERT WHITE UNIVERSITY
4150: Catering 30 Oct 2013 2.70 271204SMIN023773 ROBERT WHITE UNIVERSITY
5102: Student Prizes & Membership 31 Oct 2013 -150.00 OCT020Reverse accrual AXAM001 exps in hand now posted Not Applicable
4150: Catering 05 Nov 2013 40.00 270555EXPS PG 5/11 PROF P M DONALD
4110: Room Hire 05 Nov 2013 20.00 270555EXPS PG 5/11 PROF P M DONALD
4110: Room Hire 16 Nov 2013 30.00 271228EXPS JEMT 16/11 DR J E M TATE
4150: Catering 16 Nov 2013 30.00 271228EXPS JEMT 16/11 DR J E M TATE
3010: Travel/Subsistence (Other) 16 Nov 2013 13.50 271228EXPS JEMT 16/11 DR J E M TATE
4150: Catering 26 Nov 2013 37.50 271254SMIN 023888 ROBERT WHITE UNIVERSITY
4150: Catering 26 Nov 2013 2.70 271254SMIN 023888 ROBERT WHITE UNIVERSITY
4150: Catering 28 Nov 2013 163.33 270920BCS-BRANCH 13/12 SPORTSMAN'S CLUB, THE
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Monthly Financial Statements
• It is the Treasurer’s responsibility to ensure that the financial statement
is circulated to the Chair and Secretary each month and that the
accounts are discussed at each committee meeting
• It is the Treasurer’s responsibility to examine the transactions each
month and to report back to me any queries or changes i.e. to re-code
transactions to a different cost code.
– For example, if your member group earns event income, we can
identify specific costs linked to the events by using code 5104: MG
Income Related Expenditure.
– If costs relate to an SFR – PLEASE tell Joe when you approve the
document by email – then we can make sure it goes to the correct
code
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Before submitting an SFR, think about your financial statement
• IMPORTANT POINT
• Before your member group considers putting in a Supplementary
Funding Request, the Committee must review the most up-to-date
financial statement to see if there are sufficient unallocated funds
available from running costs to cover the expense first; e.g. an SFR for
£100 can be funded by the MG, if they have only spent £217 against an
annual allocation of £1,500.
• Your first port of call can always be www.volunteer.bcs.org
• More detail can be found in the documents you are emailed when you
are welcomed to BCS as Treasurer – good point of reference. And if
you wish to apply, please email [email protected]
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Treasurer supporting documents
• Each treasurer receives the following documents when they are appointed:
– Member Groups Financial Guidelines
– BCS Accounting Service
– Authorised Signatory Form – to be completed as a new officer
– Member Groups Monthly Financial Statements and Example Report
– Expense Claim Forms to circulated and be used by all
The above documents have been reviewed and updated, so if any of you would like to receive any of the above again, please drop me an email request to [email protected]
- Thank you all for your kind attention.
- Any questions?
Budget process for FY2016-2017
Treasurers Day 2016
Timetable for 2015
Action By Date
Prepare budget bid Member Group
Treasurers
31 March
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Timetable for 2015
Action By Date
Prepare budget bid Member Group
Treasurer
31 March
Review and prepare bids
for MBFC
Member Group Team 10 April
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Timetable for 2015
Action By Date
Prepare budget bid Member Group
Treasurer
31 March
Review and prepare bids
for MBFC
Member Group Team 10 April
Consider bids and
suggest revisions
MB Finance Committee
with Member Groups
15 April
Prepare Consolidated
bid for approval by
Membership Board
MB Finance Committee
(chair)
6 May
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Timetable for 2015
Action By Date
Prepare budget bid Member Group
Treasurer
31 March
Review and prepare bids
for MBFC
Member Group Team 10 April
Consider bids and
suggest revisions
MB Finance Committee
with Member Groups
16 April
Prepare Consolidated
bid for approval by
Membership Board
MB Finance Committee
(chair)
6 May
Review and approve bid Membership Board 6 May
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Timetable for 2015
Action By Date
Prepare budget bid Member Group
Treasurer
31 March
Review and prepare bids
for MBFC
Member Group Team 10 April
Consider bids and
suggest revisions
MB Finance Committee
with Member Groups
16 April
Prepare Consolidated
bid for approval by
Membership Board
MB Finance Committee
(chair)
6 May
Review and approve bid Membership Board 6 May
Review bid and give Q1
commitment
Trustee Board 3 June
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Timetable for 2015 part 2
Action By Date
Review bid and give Q1
commitment
Trustee Board 3 June
Inform Member Groups
of Q1 commitment
Member Group Team 14 June
Sign off budget for 2015-
2016
Trustee Board 15 July
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Timetable for 2015 part 2
Action By Date
Review bid and give Q1
commitment
Trustee Board 3 June
Inform Member Groups
of Q1 commitment
Member Group Team 14 June
Sign off budget for 2013-
2014
Trustee Board 15 July
Review outcome for
Member Groups
MB Finance Committee ASAP
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Timetable for 2015 part 2
Action By Date
Review bid and give Q1
commitment
Trustee Board 3 June
Inform Member Groups
of Q1 commitment
Member Group Team 14 June
Sign off budget for 2013-
2014
Trustee Board 15 July
Review outcome for
Member Groups
MB Finance Committee ASAP
Inform Member Groups
of final budget
Member Group Team ASAP hopefully Early
August
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Points to consider when preparing your bid
Include how much you are hoping to spend
Include how what you are planning to do lines up with BCS objectives
(the five pillars)
If your bid is significantly different from last year, say why
Remember to include all regular events that you support
Do not include any extra for contingency – MBFC hold
contingency funds centrally
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Treasurers Day 2016Questions & Answers
Treasurers Day 2016
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Lunch until 14:00
Corporate SponsorshipThe ins and outs
10 Feb 2016
Agenda
• Introduction
• Why sponsorship?
• Who sponsors events and why?
• How to get sponsors
• What is the BCS process?
• Some final thoughts
Kylie Fowler
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Kylie Fowler is the Principal Consultant at ITAM Intelligence
and is a highly regarded independent Software Asset
Manager. Most recently Kylie has supported organisations
including Balfour Beatty and Interserve to leverage the
benefits of IT asset management and achieve their business
objectives. Kylie is passionate about bringing her expertise to
support businesses of all sizes to reduce risk and achieve a
return on their IT investment.
Kylie is Treasurer of CMSG, a specialist group of BCS The
Chartered Institute for IT, a regular invited speaker at industry
events and has published a number of thought leading articles.
Contact details:
www.bcs-cmsg.org.uk
07946 244 107
BCS Configuration Management SG
• Main areas of interest are:
– IT Asset Management (including UK SAM Networking)
– Configuration Management
– Dev Ops
• Regular Events:
– Monthly evening events – London BCS Office – 2nd Tuesday of the month
– Annual Conference – London BCS Office – 2nd Tuesday in June
– Northern Conference – variable location and dates
• We are a self-funding Group!
– We are able to obtain corporate funding to cover our costs and product a small surplus
most years
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Why sponsorship?
• Sponsorship provides two big advantages:
– Empowerment!
- We are able to financially support group members who have good ideas
– although they still need to take ownership of the activity to move it forward
– Creates a virtuous circle of thought leadership and industry involvement
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Thought Leadership
Industry Involvement
Practitioner Engagement
Who sponsors events and why?
• Medium sized businesses with a significant marketing presence in the UK
– Consultancies
– Tool vendors
• Large companies eg IBM or Oracle are much more bureaucratic about their marketing efforts
– It is time consuming and generally not worth the effort to pursue agreements with these companies
• Sponsors want access to practitioners:
– Space for exhibition stands to provide a focal point for conversations and cultivate leads
– Opportunities to demonstrate their expertise
• Practitioners attend events because:
– They want to network with other professionals
– They do NOT want to listen to sales pitches
• You need to be firm with sponsors that they are presenting to demonstrate thought leadership NOT to sell their product and services
– You will need to review presentations prior to the event to ensure they are appropriate
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Sponsors Practitioners
• Sponsorship is a balancing act
How to get sponsors
• When booking a presenter, ask the question!
• Mention the following:
– We are a registered charity
– We are just covering venue and refreshment costs
• Consider longer term sponsorship eg annual sponsorship
– Develop relationships with the marketing managers
– Ask when their financial year end is
– Contact them 2 – 3 months in advance suggesting a longer term arrangement
– If you do this, have 3 or 4 annual sponsorships at once so you are not seen to have
been ‘captured’ by a particular commercial organisation
– This will cover your entire financial needs for a year!!
• Make sponsors aware that you are a volunteer group, and apologise in advance for being
a bit disorganised!!!!!
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What is the BCS Process?
• Ask the sponsor to complete the Invoice Form (available from Helen Axam)
– cc Helen into the email and ask the sponsors to return it to her
– Include the following in the subject line:
- Member Group Name (!!!)
- Sponsor Company Name
- Event Name
• Helen will arrange for an invoice to be raised
• If the invoice isn’t paid on time, you may want to contact the sponsor to remind them
about it
– Helen really appreciates us taking the initiative on this
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Some final thoughts
• Most years we generate a surplus, which is now retained by the BCS
– We can request access to these funds for two years but after that, they are gone
• How do we spend our surplus?
– Generally we don’t!!!!!
• We may be a ‘self funding’ group – but are we really?
– Free London venue – value ££££££££
– Support from Sallyann for event co-ordination – value £££
– Support from Helen and Jo for accounting – value £££
– Support from the Web Team for our website – value £££
– Support from the management team regarding policies, charitable status paperwork, insurance, who knows what else!! – value £££££££££
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Iain Thompson – Vice President Membership
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NEW STRATEGIES
Treasurers Day 2016
Strategies
•Questions & Answers
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Summing up
•For those who have already completed the
Unconscious Bias Training this ends the day.
• Are their any questions?
•We will be sending a survey around as is usual so
please fill it in to help us improve for next year.
•Thank you for giving up your time.
•There is refreshments outside if you wish to
continue networking for a while.
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UNCONSCIOUS BIAS TRAININGDavid Wilson
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