Breakout Session: Treasury

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Breakout Session: Treasury



? 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


Treasury Agenda

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

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


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


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


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)


Annual Financial Report Template


Annual Financial Report Template (cont'd)


Annual Financial Report Template (cont'd)


Annual Financial Report Template (cont'd)



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