July 12, 2019
Distribution: Chapter Treasurers, RVPs, DDs, Chapter Chairs
In this issue you will find: 
  1. Policy for Unallowable costs
  2. Fast-Track Anyone?
  3. Upcoming Webinar - Register Today
  4. Join the National PayPal Account
  5. National Leadership Conference

Policy: Unallowable Costs for Chapters Not Transitioned to Centralized Accounting 

We continue to work closely with the SBA and OIG to make improvements and ensure we are being the best stewards of our funding. One of the findings from the audit report related to comingling of federal (restricted) and unrestricted dollars at the chapter level. The Centralized Accounting system will take care of this once everyone is on the system. However, since we will not have 100% of chapters on the system until the end of FY2020, we need to institute a policy that ensures there is no comingling at the chapter level. Please see the attached PDF for a full description of this policy.

In summary, the policy states that:
Chapters that have not transitioned to the centralized accounting system by August 30, 2019 are not allowed to spend any funds, federal or unrestricted, on unallowable costs. A partial list of the most likely unallowable costs includes:
  • Alcohol
  • Donations/Grants
  • Prizes or gifts
  • Giveaways (swag)
  • Tickets to sporting events or sporting activities like greens fees, lift tickets, bowling lanes etc.
The chapter must retain, for review and audit, balanced monthly bank statements with copies of checks and Form 14 expense reimbursement forms such that they can be easily audited. All volunteers and staff are required to include itemized receipts with their Form 14 expense reimbursement form for all meals and other purchases beginning July 30, 2019.


Interested in Fast-tracking on to Centralized Accounting at Fiscal year-end?

The transition requires that every chapter submit a Form 3 Interim Chapter Report to reconcile the year's financial activity. Since your chapter will be required to complete a Form 3 Annual Chapter Report as of September 30 for year-end, why not use that as your chapter's transition date and Fast-Track to Centralized Accounting?

Chapters would need to complete task lists Phase I and   Phase II before September 30th to be eligible with submitting the final form 3 by October 7th to their District Director.  Fast-tracking is best for chapters who like to get things done quickly, efficiently, and independently.  We will be here to answer questions and assist as well.  Interested in learning more or signing up? 
Email immediately erin.schultz@score.org  
Subject: FAST-TRACK and your chapter name and number

If you want to hear more about the Form 3 Annual Chapter Report, register for the next webinar!


Upcoming Q&A Webinar - Register Today  

On Thursday, July 25 at 1:30pm EDT, John Fuqua and the centralization team will be discussing: 
  • Status update for the Accounting Centralization
  • Filling out the Form 3 Chapter Annual Report
  • Question and answer session at the end to cover general questions

Please visit the Accounting Centralization Button on the Volunteer Center to familiarize yourself with the updates before the webinar. 


Start using the National PayPal Account Now: 

We encourage all chapters to start using the National PayPal Account by changing over their workshops over before year-end instead of waiting until they transition. Build up funds in your chapter's Bank of America account and send in bills to be paid directly. This is a great way to prepare for your chapter's transition. Emails went out July 1st to chapter leadership and District Directors.

Chapter revenue will be recorded in the Intacct Accounting system under their new Bank of America account. For more information, please view the accounting webinar recording, Joining the National PayPal Now, available here  with the slides available  here .
 


National Leadership Conference

Doug McKenzie, Erin Schultz and I will be at the NLC to staff the Expert Bar and to hold Accounting Centralization Small Group discussions. If you are attending, please stop by to say hello.


Thank you for all that you do. 

John Fuqua
Vice President of Finance 
SCORE 
Who is Your Chapter Point Person?
In an effort to streamline communication throughout the Centralized Accounting process, we are asking each chapter to designate a volunteer who will serve as your main Point of Contact. FY2020 Q1 chapters, please assist us with this request by filling out the following form.

Staff Resource of the Month:



Harinder Kaur

Accounts Payable Spcialist
Ms. Kaur is in charge of the payables for Virgina and the West, Southwest, and Southeast regions.  She is known for being very personable on the phone while calling her chapters to clarify anything that stands in the way of their reimbursement.  As the A/P specialist it is her job to be a vigilant steward of our federal grant funds.  She also works with volunteers to help them set up their Bill.com ePayment accounts. 

National Accounts 
Office Depot, Panera, and P.F.Changs are available for chapter ordering now. For more information go to the Volunteer Center under Accounting. If you have any questions or problems starting your accounts, please contact Rachel Boggs at
703-487-3612 or 
Rachel.Boggs@score.org