Breakout Session: Treasury

Breakout Session: Treasury

4/26/2018

Presenters

? Chair, Chapter Relations Committee

? Jason Minard, CIA

? Midwest District Advisor

? Stephanie Jones, CIA

? Northeast District Advisor

? Sarah Saunders, CIA, CFSA

? IIA Sr. VP & Chief Financial Officer

? Ann Cohen, CPA, CGMA

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Treasury Agenda

? Annual Budgeting, Annual Financial Report, and the Independent Review

? Cash Management Best Practices ? Treasury Controls and Segregation of Duties

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Annual Budgeting

? Annually, each Committee determines/estimates the revenue and expense amounts for planned activities

? Treasurer combines all of the individual committee revenue and expense amounts into a Chapter Budget

? Budget is generally prepared during the summer months, is presented to the BOG for their approval, and then submitted to IIA Headquarters (copy DR/DA)

? Budgets are due August 31st

? Supports payments made throughout the year

2018 ? 2019 CHAPTER BUDGET

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Annual Budgeting (cont'd)

? Any revisions to the Annual Budget must be presented to the BOG for discussion and approval

? Each chapter should establish dollar limits and who needs to approve expenses

? Financial reports of budgeted revenue and expense amounts and the calculation of variances should be prepared and distributed periodically and discussed

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Annual Financial Report

? Annual Financial Report of Chapter Revenue and Expense is prepared by the Treasurer

Webinar: Chapter Treasurer

? Includes the Statement of Financial Position, Statement of Changes in Net Assets, and Statement of Cash Flow

? Signed by the Independent Reviewer prior to submitting to IIA Headquarters (copy DR/DA)

Webinar: Independent Validation of Financial Records (please

provide link to Independent Reviewer prior to them performing the independent review)

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Annual Financial Report Template

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Annual Financial Report Template (cont'd)

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Annual Financial Report Template (cont'd)

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Annual Financial Report Template (cont'd)

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