BCS Membership Board Treasurers day 10 th February 2016 Ian Sunley - - PowerPoint PPT Presentation

BCS Membership Board

Treasurers’ day

10th February 2016

INTRODUCTION AND AGENDA

Ian 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

• pen 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 josephine.jones@bcs.uk

– 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
• r 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 groups@bcs.uk
• Supplementary Funding Requests (SFR’s) – contact groups@bcs.uk

A 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
• n 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

• verspend.

Example follows

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Sample of monthly financial statement showing 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 3 10 30 4110: Room Hire 30 33 50 133 400 4130: Speakers expenses 11 43 128 4150: Catering 274 52 314 208 623 4290: Subs to Other Bodies 1 5 15 5102: Student Prizes & Membership 34 150 135 404 Expenditure 317 167 527 667 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 15/16

TOTAL £527.23 Account Name Date Amount Ref. Description Supplier

5102: Student Prizes & Membership 29 Sep 2013 150.00 270267 EXP-PG-29/9 PROF P M DONALD 5102: Student Prizes & Membership 30 Sep 2013 150.00 SEP020 Provide accrual AXAM001 exps in hand not yet posted Not Applicable 4150: Catering 30 Oct 2013 37.50 271204 SMIN023773 ROBERT WHITE UNIVERSITY 4150: Catering 30 Oct 2013 2.70 271204 SMIN023773 ROBERT WHITE UNIVERSITY 5102: Student Prizes & Membership 31 Oct 2013

• 150.00 OCT020 Reverse accrual AXAM001 exps in hand now posted

Not Applicable 4150: Catering 05 Nov 2013 40.00 270555 EXPS PG 5/11 PROF P M DONALD 4110: Room Hire 05 Nov 2013 20.00 270555 EXPS PG 5/11 PROF P M DONALD 4110: Room Hire 16 Nov 2013 30.00 271228 EXPS JEMT 16/11 DR J E M TATE 4150: Catering 16 Nov 2013 30.00 271228 EXPS JEMT 16/11 DR J E M TATE 3010: Travel/Subsistence (Other) 16 Nov 2013 13.50 271228 EXPS JEMT 16/11 DR J E M TATE 4150: Catering 26 Nov 2013 37.50 271254 SMIN 023888 ROBERT WHITE UNIVERSITY 4150: Catering 26 Nov 2013 2.70 271254 SMIN 023888 ROBERT WHITE UNIVERSITY 4150: Catering 28 Nov 2013 163.33 270920 BCS-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 groups@bcs.uk

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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 helen.axam@bcs.uk

• 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

• f 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

• f 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

• f 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

• f 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 2016

Questions & Answers

Treasurers Day 2016

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Lunch until 14:00

Corporate Sponsorship

The 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

• bjectives. 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: kylie.fowler@bcs-cmsg.org.uk 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 TRAINING

David Wilson

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