leadership summit session 7: budget boot camp
DESCRIPTION
Leadership Summit Session 7: Budget Boot Camp. January 17, 2014 9:00 a.m.– 9:45 a.m. Budget Boot Camp 2014. 2014. John J. DiGilio, MLIS, JD SLA Treasurer. 1. Agenda. What's the Big Deal? - Why boot camp? Money Matters - Where it comes from. Where it goes. - PowerPoint PPT PresentationTRANSCRIPT
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Leadership SummitSession 7:
Budget Boot Camp
• January 17, 2014• 9:00 a.m.– 9:45 a.m.
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Budget Boot Camp2014
• John J. DiGilio, MLIS, JD• SLA Treasurer 1
2014
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• What's the Big Deal? - Why boot camp?
• Money Matters - Where it comes from. Where it goes.
• Key Players – Key roles in SLA’s finances
• The Toolbox – Tools every treasurer needs & leaders need to know about
• Bottom Lines & Bookkeeping – Securing your unit's bottom line
• Time for Questions – Q&A with SLA’s Treasurer and CFO
Agenda
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The Big Deal
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What is a Fiduciary?
• Someone in whom another has placed a great deal of trust.
• One having the duty to protect the property or funds of another and to use those resources for the benefit of that other.
• YOU are!
The Big Deal
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Your Fiduciary Duty
• To protect the property and funds of your unit and its members.
• To use those funds and property for the benefit of your members.
The Big Deal
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Money Matters
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INCOME: Where does it come from?
• Conference• Dues• Other
Money Matters
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Money Matters
EXPENSES: Where does it go?
• Conference• Membership• Other
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Money Matters: Trends
9
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Money Matters: Allotments
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Key Players
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SLA Financial Team• SLA CFO
• SLA Treasurer
• SLA Finance Committee
• Unit Treasurers
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Key Players
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SLA’s CFO
• Linda Broussard– [email protected]– +1.703.647.4938
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Key Players
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SLA’s Treasurer
• John DiGilio• [email protected]• +1.312.207.3902
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Key Players
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SLA’s Finance Committee• Hal Kirkwood
• Bill Noorlander
• Tom Rink
• Kim Walsh
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Key Players
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Unit Treasurers• Chapters
• Divisions
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The Folks on the Front Lines!
Key Players
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The Toolbox
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•Quicken: Required
• Treasurers' Discussion List: Robust & Active
• Treasurers' Wiki: Best Practices, Instructions, & More
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The Toolbox
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The Toolbox
Quicken
http://quicken.intuit.com
Starting 2014, each unit is responsible for procuring and maintaining its own copy of Quicken. This is the required software package for annual financial reports.
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The Toolbox
Treasurers' Discussion List
SLA unit treasurers are automatically added to this list each February. The SLA Finance Committee is also on this list.
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The ToolboxTreasurers' Wiki
http://wiki.sla.org
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Bottom Lines & Bookkeeping
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• Timely reports• Bank statements• Generate revenue• Spend appropriately• Make CFO signatory• Pooled fund
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Financially Healthy UnitsBottom Lines & Bookkeeping
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• Many units report:• Difficulty breaking even• Not having an actual budget• Having trouble transitioning treasurers
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What We KnowBottom Lines & Bookkeeping
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• Consider making budgeting part of your annual unit process
• Increase communication with and from your treasurers
• Monetize some of your best work• Invest in your membership
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What We Need to Do:Bottom Lines & Bookkeeping
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Q&Awith
John & Linda