In this issue you will find:
1. Mail – Send bills electronically
2. SCORE Policy on PPP Grants
3. Chapter Accounting Policies & Procedures – Updates Are In Process
4. AP Processing Update & Paying Bills Now
5. Please Document Vendors paid over $5,000
6. Panther Group Change Coming June 1
st
7. Tech Tuesdays Zoom Will Resume Mid-June
Mail
Mail is being delayed. Since Virginia is still under a Stay At Home Order, the mail for both the old and new address is forwarding to a staff member’s home which delays our processing, please send any communication through email to the appropriate department email instead of mailing it if possible.
We will be at a new address once we open, please contact any vendors that send bills directly to HQ to change their address to our new office:
The SCORE Association (include your chapter #)
1165 Herndon Pkwy, Ste 100
Herndon, VA 20170
Chapters Are to NOT Apply for PPP Grants
In the SCORE COVID-19 Volunteer Update – Issue 7 email dated April 27, Bridget Weston, Acting CEO, stated that SCORE Chapters are not to apply for the Paycheck Protection Program Loan/Grant. If your chapter has received one of these loans/grants, please contact
Rick Peluso
immediately to facilitate getting it returned to the lending bank in compliance with the SBA. Please see
the email here
for more information on other options for chapters.
Chapter Accounting Policies and Procedures Are Being Updated
The SCORE Accounting staff, along with a group of volunteer treasurers, are currently working on revising and strengthening the Chapter Accounting Policies and Procedures documents. With the centralization of accounting, many of the past policies and procedures are no longer applicable or outdated.
One area being updated is the use of debit cards. Both the audit firms of BDO, the firm SCORE engaged to assist with consolidation, and DHG, SCORES’ auditors, have commented on the chapters' use of
debit cards
. Both firms had recommended SCORE eliminate the use of these cards, which aligns with the best practices of the non-profit industry. To be in full compliance with the federal grant, we need copies of all receipts, invoices, contracts, and other supporting documentation for all expenses paid. It is incumbent on SCORE to examine all expenditures to see if they are allowable or unallowable. This examination requires original receipts (not statements) for all transactions.
SCORE recognizes that from time to time, a chapter volunteer may bear a high volume of expense related to the chapter's operations. Currently, the policy states chapter leaders cannot hold Credit Cards in the name of SCORE or a chapter. SCORE is exploring options and is currently working with a small number of chapters to test solutions to this issue. SCORE remains committed to keeping the processing time for Form 14s at four business days.
Please look for the updated SCORE Chapter Accounting Policies and Procedures in June of 2020.
Accounts Payable Processing Update
As of the date of this bulletin, we are processing bills received May 12 and 13, including the delayed bills being held by the post office that just arrived. By Friday, if you do not see a bill submitted earlier on your chapter's bills register in Sage Intacct Accounting system, please let us know. Please contact your accounts payable person directly or send an email to
accounting@score.org
.
We are paying phone and internet bills in advance regardless. We want to make sure that your chapter’s phone is working, the rent is paid, and other utilities are covered during the Corona virus shutdown when it may be difficult for you to forward the bills to us. 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 bill accordingly.
If we paid the bill in advance, we need a copy of the bill. How to tell if we paid it in advance? If the bill number starts with ADV PMT, we will still need a copy of the original bill. Even if it is getting mailed directly to us, if you have the ability to get it online, we would appreciate you sending a copy directly to your A/P specialist (see staff list below)
SCORE OPERATING MANUAL (SOM) - CONTRACTS
This requirement encompasses any relationships in which money exchanges hands. Regardless of whether a contract was actually signed, a contractual relationship exists.
1.
All contracts that are for more than $5,000 must be approved by HQ.
2.
Chapters must obtain price quotes in writing from at least three qualified sources. If the lowest is not selected, there must be a detailed explanation as to why.
3.
If the vendor was chosen without price quotes or an existing vendor from a prior year was continued, an explanation of why they were considered the only vendor qualified is required as a Sole Source Justification.
We will need documentation for all vendors paid more than $5,000 in the fiscal year ending September 30, 2020.
Accounting is currently reviewing all vendors for any paid over $5,000 fiscal year to date and will be asking chapters for the required documentation in anticipation of the next SBA review. We will not pay a vendor without the information.
If you have one of these vendors, please send the information now to Rick Peluso to help us remain compliant with the SOM policy.
Reminder Panther Group Bill Processing Change coming June 1
Starting with bills dated June 1
st
, Panther Group will send all bills to HQ directly for payment. See
April’s Accounting Bulletin
for more details.
Weekly Intacct Webinars Postponed
The Tech Tuesday Weekly Zoom Calls will return in mid-June once the Chapter Accounting Policies are complete. Please contact
Erin Schultz
directly if you need assistance or have questions regarding the Sage Intacct Accounting System.
Thank you for all you do for SCORE and please stay safe.
Rick Peluso
VP-Finance
