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October 12, 2020
Distribution: All Active Volunteers
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Important Notice - FY20 Client Engagement Survey |
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The 2020 Client Engagement Survey with PwC is being distributed to clients, starting today. Please encourage the clients in your chapter to provide their feedback.
If any volunteers are mistakenly included in the distribution list, apologies for any confusion or inconvenience. Please do not complete the survey, and instead, unsubscribe from the distribution list to prevent receiving follow up emails from PwC.
Key dates listed below:
- October 12, 2020 - Survey Launched
- October 27 through December 1, 2020 - Survey Reminders sent each week
- December 4, 2020 - Survey Close
- Late January 2021 - Survey data available in online portal
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Featured Department - Accounting |
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Welcome to the New Fiscal Year! |
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- AP Processing Update & Paying Bills Now
- In-Kind Contributions
- Bought Equipment? Add it to your Inventory List
- Access to Sage Intacct Accounting
- SCORE Chapter Accounting Policy and Procedures
- Chapter FY21 Budgets
- Weekly Webinar Schedule
- Activity Codes
- Vendors over $5,000 & Contracts
FY20 In-Kind Contributions
Has your chapter or any branches received $1,000 or more in donated product, services, or office/meeting space? We need to book that if we haven’t already done so.
Please check your Intacct Dashboard to see if we are booking the SBA/GSA office space correctly. Is your chapter still in a government space? Are we booking a value for that space?
Please contact Erin Schultz to report any In-kind contributions to your chapter October 1, 2019, through September 30, 2020, or if you have questions.
Soft close of FY20 is October 30, but we’ll book year-end adjusting journal entries as we work on the audit with final entries completed by January 2021.
Weekly Webinars
Please register for one or more weekly Treasurer Tuesday calls on Zoom at https://tinyurl.com/SCOREACCT9. Upcoming sessions will be focused on incoming SCORE Treasurers. Schedule below:
October 13: Incoming Treasurers - Making & Reporting Deposits to HQ; Submitting Bills to HQ for Payment
October 20: Proper Uses of Federal Grant & Program Income (Restricted vs. Unrestricted Revenue; Allowable vs. Unallowable Expenditures)
October 27: The Chapter Accounting Policies and Procedures - Highlights
November 3: Sage Intacct Accounting System Deeper Dive - Reporting
November 10: National Accounts
Thank you for all you do for SCORE and stay safe.
Rick Peluso
VP of Finance
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SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less |
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On October 8, the U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.
Click here to view the simpler loan forgiveness application.
Click here to view the instructions for completing the simpler loan forgiveness application.
Click here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less.
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New National Account: Language Services Provider |
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As SCORE continues to use many virtual offerings and prioritizes inclusivity in our services, we've created a national account with a language service provider who can offer interpretation services in 100+ languages. Many thanks to Jennifer Lang, Vice Chair of SCORE North Suburban Cook and Lake Counties, for spearheading this partnership and making it possible!
Let them know:
- Your SCORE Chapter number
- Language needs
- Dates & times of the event
DuPage will provide you with a quote, and the invoice will be sent to SCORE HQ to be allocated from the chapter account. For more information, click here. |
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WOSB Resource Partner Training Opportunity |
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To help resource partner mentors like you understand forthcoming regulation changes to the Women-Owned Small Business (WOSB) certification process, the Covid-sb.org Business Advisor Learning Center is hosting office hour sessions with experts from the U.S. Small Business Administration’s Office of Government Contracting and Business Development.
In addition to explaining and answering questions about the regulatory changes going into effect October 15, 2020, these experts will describe the resources available to help you assist women entrepreneurs who are pursuing certification with the WOSB Federal Contracting Program.
Register for WOSB office hours by completing this secure Google Form with your name and preferred email address.
You will then receive a Google Calendar invitation to attend a 60-minute virtual office hour session at 1 p.m. ET on whichever date below is most convenient for you:
- Tuesday, October 13
- Tuesday, October 27
- Tuesday, November 10
Thanks in advance for helping us better serve and prepare women entrepreneurs.
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Upcoming Live Webinars for Small Business Owners |
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SCORE Social Media Program FY21 Updates |
SCORE HQ has been providing chapter social media marketing support for 4 years now, with the goal of driving awareness to SCORE chapters and local volunteer efforts. We are happy to share that we will be continuing our commitment to this in FY21.
In FY21, all SCORE chapters will be provided with social media support through this program. These services are fully funded by SCORE HQ and are provided without any local chapter expense.
Note: This does not include additional (optional) paid ad campaigns that will be charged at chapter expense.
There are 26 chapters that are not currently in the social media program which will be on-boarded into the program to receive base-line services; including location data management assistance, client review monitoring and response management. To find out if your chapter is one of these 26, click here.
For more information on the exact services provided to chapters in FY21 and the metrics measuring the program’s success, please visit the Support Center here. |
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Lifelong Learning Series Webinar - October 2020 |
Interested in using Slack?
Join us for this month's Lifelong Learning Webinar featuring Whit Ford from the Portland, ME Chapter. Whit will walk us through how his chapter is using Slack as a key communication platform for their chapter and district. Learn how this tool has helped to improve communication flow for Maine, and how it can do so for you chapter and district.
Join us on Thursday, October 22nd at 1 PM EDT
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With the new SCORE Company Store providing SCORE branded materials and swag, we would like to know if there is interest for the following items: calendars, masks and flash drives. These items must be ordered in advance for SCORE and would need to be purchased with personal or unrestricted funds.
Please let us know if you would be interested in purchasing any of these items by completing the form here.
If you are interested, please submit a form by 11/30/2020.
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Chapter Accounting Policies and Procedures (CAPP) |
The Chapter Accounting Policies and Procedures (CAPP) is updated and uploaded to the Support Center.
This manual is now updated for Centralized Accounting, the SOM Contract & Vendor Over $5,000 policies, and for the Federal Grant compliance requirements concerning the use of restricted funds. Please see Section XIII Treasurer Transition recommendations if your chapter is welcoming an incoming treasurer for this coming fiscal year. Examples of allowable and unallowable expenditures are on Page 27.
SCORE would like to thank the Treasurer Advisory Group who invested over 400 hours together reviewing SCORE policies and best accounting practices for chapters. We appreciate your extraordinary dedication to SCORE!
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Please work with your district director to finalize your budget before it is submitted following your district director’s instructions. You may want to check out the updated FY21 Chart of Accounts for more classification options, available here.
Your chapter may choose whether to have an annual budget or a monthly budget in Sage Intacct. Please fill out the appropriate tab on the template available here.
Budgets may be submitted at any time during the year, but our goal is to get the files by October 30, so that we can upload them for you by November 9. Chapters may wait until the national allocation is finalized before submitting. We will upload the budgets periodically as received.
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Resources for Clients
SCORE is collecting resources to answer client's critical questions during the COVID-19 pandemic—and afterward. Updates are being made regularly.
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Volunteer Toolkit
These resources provide the latest communications and notifications around SCORE’s policy and guidance during this trying time.
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1165 Herndon Parkway
Suite 100
Herndon, VA 20170
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Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA. |
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