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AAUW NATIONAL CONVENTION

AAUW NATIONAL CONVENTION. Branch/State Finance Workshop June 2013 Millie Hoffler-Foushee, AAUW Finance Vice President A. Michael Gellman, AAUW Chief Financial Officer. Introduction. Speakers: AAUW Finance Vice President 2009-13 Millie Hoffler-Foushee AAUW Chief Financial Officer

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AAUW NATIONAL CONVENTION

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  1. AAUW NATIONAL CONVENTION Branch/State Finance Workshop June 2013 Millie Hoffler-Foushee, AAUW Finance Vice President A. Michael Gellman, AAUW Chief Financial Officer

  2. Introduction Speakers: AAUW Finance Vice President 2009-13 Millie Hoffler-Foushee AAUW Chief Financial Officer A. Michael Gellman

  3. Resources Related to Finance Resources Available to State/Branch Presidents & Finance Vice Presidents Related to Finances: Connect AAUW AAUW Website MPP and 990N Filing Assistance Finance Tool Kit

  4. Connect AAUW Just a Phone Call Away: Experienced Professionals Expert Guidance Ambassadors to Other Professionals at AAUW: Membership Finance Department Information Technology and Website

  5. AAUW Website Explore the Website: Rich in Content Real-Time Updated Information Finance Tools: MPP 990N Filing Assistance Finance Tool Kit

  6. Finance Assistance Programs Programs: MPP 990N Filing Assistance

  7. 990N Filing Assistance 726– 990-N forms filed for FY2012 Increased by 77 from FY2011 649– 990-N forms filed for FY2011 Increased by 146 from FY2010 503– 990-N forms filed for FY2010 1st Yr. AAUW 990N filing program

  8. Finance Tool Kit

  9. Ten Steps to Financial Health Ten Steps: Simple to Follow Will Make Life Easier Fellows Best Practices

  10. Ten Steps to Financial Health • Step One: • Clean-Up Your Chart of Accounts • Once a Year Review Your Chart of Accounts • Remove Old Obsolete/Unused Accounts • Add New Accounts When Appropriate

  11. Chart of AccountsRecommended Basic Accounts • Revenue • Dues • Fees • Fundraising income for the AAUW and AAUW Action Fund • Fundraising income for community action branch/state projects • Miscellaneous income  • Expenditures • National Dues • State Dues • Stationery and supplies • Postage • Insurance • Advertising and Promotion • Newsletter printing and postage • Membership recruitment • Program events (separate by program) • Contributions to AAUW

  12. Ten Steps to Financial Health • Step Two: • Membership Files • Log-On to MPP • Sample Procedures Next Slide

  13. MPP Access • Go to AAUW’s website at www.aauw.org. • Click the “Member Center” tab. The AAUW Member Login page will display; Enter your Member Number, then click Log In. Welcome to the Member Center! • Click Member Services Database (MSD) in the left column of the page. The Access Member Services Database login page will open. If you have already registered, please go to the next step. • The Login (Member ID) field should be populated with your member number, so enter your password and click “Log in”. • In the left column of the page under the “Group Exemption Form” click on the Branch and or State 990-N; enter the Federal Tax ID, then answer the questions. • Sign the electronic submission by following the instructions at the bottom of the form, then click Submit.

  14. Ten Steps to Financial Health • Step Three: • Keep a Bank Balance Log Running Bank Balance Log: - Start with Beginning of the Month Balance - Weekly Add Deposits and Subtract Disbursements - Equals New Ending Balance

  15. Ten Steps to Financial Health • Step Four: • Check Bank Statements Regularly • Open Bank Statements Promptly • Prepare Bank Reconciliation Every Month • Check Deposits and Disbursements Against Your Records • Investigate Unusual Items and Record Bank Charges

  16. Ten Steps to Financial Health • Step Five: • Set-Up and Maintain Vendor and Paid Bills Files - Make a Copy of Invoice and/or Receipt - Stamp Paid and Include - Account Number - Check Number - Date Paid - File in Paid Bills File - For Reimbursements (see next slide)

  17. Reimbursements Procedures: - Use Reimbursement Slip - Get Approval for Reimbursement - Include: - Supporting Documents - Account Number - Check Number - Date Paid

  18. Ten Steps to Financial Health • Step Six: • Update Financial Reports at Least Quarterly Include: - Balance Sheet - Income Statement - With Budget Comparison

  19. Ten Steps to Financial Health • Step Seven: • Budgets are your Friend (see Finance Tool Kit) - Required by your Board - Important for Planning - Helps you Monitor Progress During the Year - Shows How you Manage your Resources

  20. Ten Steps to Financial Health • Step Eight: • Take Advantage of the AAUW National’s 990N Filing Assistance: - See Finance Tool Kit - Available July 1st Each Year - Part of Annual “Group Tax Exemption Survey & Authorization Form”

  21. Ten Steps to Financial Health • Step Nine: • File Your Year-end Group Tax Survey Form Early Each Year) - See Finance Tool Kit - Due by October 15th Each Year - Complete and File with AAUW National Finance Department “Group Tax Exemption Survey & Authorization Form”

  22. Ten Steps to Financial Health • Step Ten: • Take Advantage of AAUW Connect When you have Questions Connect2AAUW by phone: 800-326-2289 or email: connect@aauw.org

  23. Questions and Answers

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