February 8, 2021
In this issue you will find:
- AP Bill Processing Status
- Update Bill Approval Designee for your Chapter or District
- What Funds Pay What Bills: National Allocation, Restricted & Unrestricted Funds
- Traveling Far? We need a map.
- Independent Contractors vs Employees
- Treasurer Tuesday Schedule
- Welcome Jon McClung
Welcome to February. January’s books are closed and we are working on finalizing SCORE’s budget with the SBA for FY21. SCORE’s federal funding for FY21 is included in the FY2021 Omnibus Appropriations Bill signed on December 27, 2020. Need to contact anyone in Accounting? Our contact information is now on the Support Center here.
1. AP Bill Processing Status – Up to Date
Bills being mailed to HQ are now being picked up at the post office regularly.
We are still paying telephone & internet bills in advance. For chapters whose bills do NOT come directly to HQ, we will pay the bill out of local unrestricted funds coded to 59900. Once the bill is provided to us as back-up, we will reclassify the expense, accordingly, please have it to us by the 3rd business day after the month. Once the chapters are all open, we will go back to normal bill processing. Please check your chapter dashboard in Sage Intacct for 59900 Misc expense for bills documentation we still need.
As of the date of this bulletin, we are processing bills received February 5 and 8. If you do not see a bill submitted earlier on your chapter's bills register in Sage Intacct Accounting system on your chapter’s Bills Register, please let us know. Please contact your accounts payable person directly or send an email to firstname.lastname@example.org.
2. Please Update Bill Approval Designees
Chapter Chairs and Co-Chairs: Please take the time to help us update who may submit and approve bills for your chapter or district by filling out this survey: https://tinyurl.com/SCOREDesignee
Only Chapter Chairs and Co-Chairs may approve chapter bills unless they appoint a designee either by the position or by the name of the person. This designation lasts until revoked by the Chapter Chair. District Directors can use this form to appoint either the ADD or another district leader as the person who approves bills for their district account.
3. How do we determine what funds should pay a bill?
Unless a chapter requests otherwise, each bill for an “allowable” expense is paid from a chapter’s National Allocation budget first. If there isn’t sufficient National Allocation available, then the bill is paid from chapter local restricted funds. Once the chapter local restricted funds are exhausted, the bill will be taken against chapter unrestricted funds. Please join February 9 Treasurer Tuesday for more information.
The National Allocation is SCORE’s Federal Grant allocated directly to chapters, districts, and regions. Chapter local restricted funds are a result of a chapter collecting Program Income by charging for workshops and webinars or for collecting income at an event that used restricted funds to pay any of its costs. Both the National Allocation and Program Income are restricted to be used for only “Allowable Expenses”, hence the term restricted funds.
What is an allowable expense for use of National Allocation or Program Income? Check out this chart included on page 27 of the Chapter Accounting Policies and Procedures (CAPP) available here or at https://tinyurl.com/SCORE1CAPP.
“Unallowable” expenses (those that are not allowable for use of restricted funds) are paid from chapter local unrestricted funds. These may be acceptable use of chapter unrestricted funds but must not use restricted funds. For more information on the Proper Use of Federal Funds, see the notes for the October 20 Treasurer Tuesday available here.
4. Submitting reimbursement for a trip of 100 miles or more?
SCORE reimbursement policy is that any line item on a Form 14 over $25 needs support documentation. At $0.25 per mile, then any line item on an expense report for 100 miles or more needs proof. How does one document mileage? We recommend using any online direction website showing the starting point and ending point and the mileage displayed, but even a photocopy of a physical map will do. As long as it shows total miles for your form 14 line item. Some options include:
Google Maps Directions: https://www.google.com/maps
MapQuest Directions: https://www.mapquest.com/directions
Rand McNally: https://tripmaker.randmcnally.com
5. CAPP & SOM - Independent Contractors
SCORE must comply with all federal guidelines regarding who qualifies as an independent contractor and who must be paid through a paycheck. Please see the Independent Contractor sections of either the SCORE Operating Manual (SOM) Chapter 7 and the Chapter Accounting Policies and Procedures (CAPP) Page 31 for SCORE’s policy for who qualifies as an independent contractor.
In most cases, paid administrative help for chapters are to be hired through The Panther Group, please reach out to your District Director and your RVP for more information.
6. Weekly Webinars – Treasurer Tuesday
If your chapter treasurer only goes to one Treasurer Tuesday, please attend the March 16 Mid-Year Check-In. We want to know how you and your chapter are doing, what you need as Treasurer, and your recommendations.
Calls are on Zoom and have a Q&A at the end for any SCORE subjects form our chapters. Please join other Treasurers in SCORE. To register for one or more please visit: https://tinyurl.com/SCOREACCT9. Our schedule is:
February 9: Back to the Basics – Submitting Bills and Reporting Deposits
February 16: Sage Intacct Deeper Dive Session, Have report writing requests?
February 23: Back to the Basics – Explanation of the Chapter Dashboard
March 16: Treasurer Tuesday Mid-Year Check-In
March 30: Treasurer’s Choice TBD
7. Welcome Jon McClung
Please welcome Jon McClung to SCORE. As contracted support, Jon was key to SCORE’s success transitioning to Centralized Accounting. As Accounting Manager, Jon ensures accuracy of our financials and compliance with our federal grant by reviewing most transactions posted to Sage Intacct, researching discrepancies and any other special projects for the team.
Thank you for all you do for SCORE.
VP of Finance