BCS Treasurer’s Day

1. BCS Treasurer’s Day How Headquarters and The Treasurers work together 6th March 2013

2. 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 HQ finance supports the treasurers • How you can help HQ and yourselves • Cover the completion of various forms • VAT – income and expenditure • Monthly financial statement Presentation to insert name here

3. Treasurers’ Guidelines EXPENDITURE • What do you class as “Expenditure”? • A purchase invoice. • An expense claim. • A cheque raised at HQ for e.g. a Student Prize • Bank charges associated with paying an invoice or claim overseas Presentation to insert name here

4. 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 BCS Event Booking System –event income is analysed each month to ensure income is recorded in the month the event takes place. • Sponsorship Income net of VAT, • If you are successful in securing Sponsorship, contact your MG administrator. • Donations (exempt of VAT) Presentation to insert name here

5. Routines – daily/weekly/monthly/annually ANNUALLY • With the July accounts, Helen will send you a Year End Return Form • Keep this safe for the year end date of 31st August _______________________________ Member Group 2011/12 Year-end Return Transactions relating to the 12 months ended 31 August 2013. Please tick one box  All the transactions for the Branch have already been completed.  The attached claims/invoices are the last for the Branch.  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 2013 for which invoices have not yet been received or an expenses claim submitted. Presentation to insert name here

6. Supporting each other HOW HQ 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 HQ AND YOURSELVES • Respond as soon as possible to any communication from either finance or the Member Groups Team • A simple thing – please enter the name of your member group in the subject field of all emails Presentation to insert name here

7. Completion of forms • Expense claim forms (sample of areas to be completed follows) • Signature forms of officers (Treasurer, Chair and Secretary) • Please send me a new form after each change of officer with their signature. If we do not have sample signatures for the officers, they cannot sign off any documents • Year end forms • Supplementary Funding Requests (SFR’s) • 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 they have sufficient 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. Presentation to insert name here

8. VAT • BCS is VAT registered. This means that we are obliged to charge VAT on all income and can recover VAT on expenditure. • The VAT on invoiced expenses can be claimed back from HMRC. • Personal expenses for event costs makes life harder and may result in us being unable to reclaim VAT so the group will loose out. Presentation to insert name here

9. Sample of monthly financial statementshowing Income Presentation to insert name here

10. Monthly Financial Statements EXPENDITURE TRANSACTIONS • This tab shows you what you’ve spent your budget on! • This is a summary of invoices, expense claims, cheques raised at HQ etc. and is presented year-to-date. Example follows – then ANY QUESTIONS? Presentation to insert name here

11. Expenditure Presentation to insert name here

12. 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 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. Presentation to insert name here

13. 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 they have sufficient 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. Presentation to insert name here

14. Treasurer supporting documents • Each treasurer receives the following documents when they are appointed: • Member Groups Financial Guidelines • BCS Accounting Service • Authorised Signatory Form • Member Groups Monthly Financial Statements and Example Report • VAT Guidance • Expense Claim Forms If any of you would like to receive any of the above again, please drop me an email request to helen.axam@hq.bcs.org.uk • Thank you all for your kind attention. Presentation to insert name here