Following is a list of those who have fiscal and accounting responsibilities:
SCORE Headquarters Staff (HQ)
- Oversight of accounting and financial transactions.
- Processing of bills, recording transactions, and recording deposits.
- Financial management - maintain policies and procedures.
- Manage contracts with National Vendors.
- Review and execute chapter contracts and leases.
- State Business Registrations & Sales Tax Exemption Certificate Applications.
- Reporting (Federal Award, IRS Form 990).
SCORE Field Volunteers
District Director
- Assigns district portion of the National Allocation funds to each chapter.
- Reviews chapter budget and operations.
- Approves Chapter Chair or Co-Chair reimbursement expense reports (Form 14).
- Reviews chapter financials quarterly.
Chapter Executive Committee
- Reviews and approves the annual chapter budget, which is shared with chapter members on request.
- Monitors annual, quarterly or monthly financial statements, budgets and important chapter metrics.
- Reviews all service agreements and contracts in excess $5,000 (or lower if deemed necessary by the chapter). See our Contracts page for more information.
- Reviews and approves all non-budgeted transactional expenditures over $1,000.
Chapter Chair/Co-Chair or Vice Chair
- Approves all program expenditures and sends them to accounting@score.org. (Have treasurer review before submitting for payment) (See assigning a designee in Uses of Funds).
- Ensures that a SCORE compliant and chapter-relevant budget is developed annually (See Budget).
- Reviews all contracts equal to or less than $5,000 before submission to National (All contracts must be submitted to the SCORE Headquarters for review and approval. - See Contracts)
- Ensures that all individuals working in a fiduciary capacity -- leaders, plus administrative support. have an adequate understanding of the SCORE Policies and Procedures.
- Approves time sheets for admin staff and submits to third party employer (or CC designee). See Clerical Administration and Contracted Support.
- Maintains record of all passwords in chapter systems.
- Assists Treasurer with local government and municipal grant management.
Treasurer
- Liaison between chapter and SCORE HQ accounting on all accounting functions.
- Monitors all chapter, program, national allocation, and other grant budgets.
- Manages local government and municipal grants including understanding grant terms, conditions, and requirements, ensuring compliance and facilitating grant audits.
- Reviews and manages chapter cash flow.
- Reviews for accuracy and completeness and forwards reimbursement requests (Form 14 expense reports) and bills to the chapter chair or district director for approval (if not designee), or, if designee, sends bills and expense reports to accounting@score.org.
- Assists Chapter Chair with the development of annual and program budgets.
- Reviews all outgoing invoices and manages collections of accounts receivable.
- Monitors and manages all expenses to ensure most effective use of cash resources. Challenges chapter management team on metrics to justify cost/benefit and reasonableness of fund use.
- Prepares and makes bank deposits and notifies deposit@SCORE.org.
- Monitors Sage Intacct account to ensure invoice payments are posted and paid in a timely manner.
- Approves time sheets and submits to third party employer if designated by the chapter chair, reviews contracted administrative pay rates.
- Monitors use of assets and makes recommendations for disposal and replacements if needed.
- Reviews transactions posted to Sage Intacct both revenue and expenses for accuracy and reviews financial statements. Reports material corrections to HQ Controller.
- Prepares monthly and year-end financial reports for Chapter leadership and provides commentary on any significant variances.
- Reviews, revises, and maintains chapter specific procedures, advises members on procedures.
- Reviews SCORE Policies and Procedures annually or when updated and advises members.
- Works to ensure compliance with SCORE Policies with members.
- Approves/Issues refunds through National PayPal or requests any refunds through checks from SCORE Headquarters Accounting.
- Registers and files any local business licenses, reporting, and local property tax exemption (all assets are technically owned by the Small Business Administration, no property is owned by SCORE).
- Maintains list of equipment greater than $1,000 cost and with lives greater than one year. (See Equipment section).
- Reports accrual entries needed at year-end to SCORE HQ controller in October.
- Reports In-Kind Donations for space or services as described in In-Kind Section to SCORE HQ Controller.
- Requests volunteers to submit all fiscal year expense reports in time to be sent approved by Fiscal Year deadline of the 7th business day of October after fiscal year-end.
- Reviews Sage Intacct Company messages monthly.
Chapter Members
- Efficiently use chapter funds in performing SCORE’s mission if tasked to spend funds for the chapter.
- Be aware of and conform with all SCORE chapter and HQ policies and processes related to individual expenditures of funds and reporting.
- Seek explanations from Executive Committee if harboring concerns on financial focus and expenditures. (See Field Whistleblower Policy: Reporting and Rights for SCORE’s reporting recommendations).
- Submit expense reimbursement requests (Form 14s) in compliance with Form 14 instructions within 30 days of expense incurrence unless it is $25 or less; except at fiscal year-end when all reimburse requests are due for the current fiscal year regardless of amount; (Requests for reimbursement after 90 days from expense incurrence will not be honored).
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