ASQ Raleigh Section Financial Management Processes

1
ASQ Raleigh SectionFinancial Management Processes

• by Tony S. Tanaydin
• ASQ Raleigh Treasurer
• treasurer_at_asqraleigh.org
• November 8, 2005

2

• What you are stands over you the while, and
  thunders so that I cannot hear what you say to
  the contrary.
•    
• -- Ralph Waldo Emerson

3
Types of Processes

• Expense Reports
• Petty Cash/Cash advancements
• Incidental expenses reimbursement
• Travel expenses
• Contractual expenses-revolving
• Asset management
• Purchasing
• Payments

4
Expense Reports

• itemized receipts with the expense report for
  approved expenses
• reason for the expense
• no receipt, no reimbursement
• due within one week but no longer than 45 days
  from the day of origination
• you are responsible for the accuracy of product
  purchased or for the accuracy of reimbursement
  requested

5
Types of Processes

• Petty Cash/Cash advancements
• usually small amount of money lent to board
  members
• receipts required
• for small incidentals only
• if no valid receipts, money should be returned to
  the treasurer within 45 days
• requires an expense report to be filled out
  unless it is returned to the books in full

6
Types of Processes

• Incidental expenses reimbursement
• Similar to petty cash situations
• Volunteer paid expense
• Expense report is required
• Business justification/approval
• Receipts required
• e.g., catering CQA class of Fall 05

7
Types of Processes

• Travel expenses
• Executive Board approved travel expenses
• Allocated in the yearly budget
• Itemized receipt(s)
• expense report explaining justification
• mileage for volunteers or providers, e.g.,
  speakers if beyond daily activity

8
Types of Processes

• Contractual expenses-revolving
• e.g., printing, conferencing, vmail etc.
• Board approved providers and expenses as outlined
  on the proposal
• Boards examines and re-approves all the providers
  from the previous year or ask for new proposal
  from the corresponding chair each year
• Direct billing to ASQ, most preferred method
• Treasurer signs contract upon boards approval
• Corresponding chair is responsible for accuracy
  of the service/product provided
• Chairs responsable to inform treasurer prior to
  the event and the contact information of the
  provider
• Consult with the treasurer before agreeing to any
  financial agreement

9
Types of Processes

• Asset management
• Section assets are kept on financial books
• Person needing the equipment shall fill out a
  form and sign the form taking full responsibility
  of the equipments well-being for its present
  value, .e.g., missing equipment could be billed
  to the person who borrowed it
• Section treasurer facilitates the management of
  this process to a board member

10
Types of Processes

• Purchasing
• purchasing special equipment or hiring service
  providers for a focused project
• business specifications in place and approved
• technical specifications in place and approved
  (might require hiring intermediate contractor)
• bid process if possible
• project manager works with the treasurer on the
  delivery of the product/service, e.g., Bob
  informs Tony web page phase I has been
  successfully finished according to specifications

11
Payments

• Members make checks payable to ASQ Raleigh
  Section Most preferable
• Credit Card payment accepted
• accounts setup with PayPal
• Bounce checks will be collected with 10 penalty-
  BOA charges ASQ for returned items

12
Current Activities cont.

• Caught up on the behind payments
• Mailbox checked at least bi-weekly
• All bills processed and paid bi-weekly
• Setup PayPal account for Credit Card payments
• Setup direct billing and controls on gift and
  hotel accounts

13
Current Activities cont.

• Web development continues
• New addresses
• www.asqraleigh.org
• treasurer_at_asqraleigh.org
• chair_at_asqraleigh.org
• vchair_at_asqraleigh.org
• secretary_at_asqraleigh.org
• programs_at_asqraleigh.org
• arrange_at_asqraleigh.org
• communication_at_asqraleigh.org
• webmaster_at_asqraleigh.org
• Section Chair is responsible for updating the
  alias list on the system.

14
What we need from you

• Company Name
• Address
• Contact Name
• Phone
• Account (if applicable)
• What do you purchase and how frequently?
• and anything else you think we should know