Treasurer Turnover

There are a handful of tasks to be performed when transitioning from one Board Treasurer to another, and a small number of responsibilities to keep in mind.

The Budget

It’s not that hard!™

When to do it

CHEA’s fiscal year ends on June 30. Per the BoardStandingRules,

  1. (19 May 2015) CHEA budget to be done by May 1, in response to NASCO budget released by April 1. CHEA requests voted-upon budgets from houses by June 1.

Concretely, on 1 April 2019 the Treasurer will need to begin thinking about the budget for the fiscal year ending (FYE) in 2020.

How to budget: a crash course

Our main corporate expenses are paying NASCO Properties and a handful of professional services. In the Treasurer’s Google Drive, you’ll find a folder “CHEA Budgets.” Inside of this folder is a file “Budget Template.” Here is a screenshot of the budget template:

Screenshot of the budget template spreadsheet.

Screenshot of the budget template spreadsheet.

  • Adjust the expenses in the left-hand column based on what was actually spent in the past year; don’t be afraid to add or remove items!
  • Fill out the information for the previous year (which can be found in the previous year’s budget in “CHEA Budgets”).
  • The spreadsheet should tell you what individual house contributions should be and how this differs from the past.

Paying the NP Lease and Loan

Because CHEA and NP use different credit unions, the Velocity web interface will only permit transactions under a certain amount (assumed to be around $9k). Thus payments are split up.

To make matters more confusing you can’t send transactions of the same amount in succession. In practice this means I usually send:

  1. A payment of $7000.00
  2. A payment of $7000.01
  3. Lease Payment - (14000.01)
  4. The loan payment (usually about $182).

This usually cuts it.

NASCO Properties Invoices

Background

As you are (hopefully) aware, CHEA cooperatively owns NASCO Properties along with other coops around the continent, and NASCO Properties in turn actually has the titles to our houses. We pay them every month and in exchange NP helps us with accounting, maintenance, cooperative skills training, and a host of other good things.

We typically receive two invoices on the 1st of each month: one for a lease payment, and one for a loan that CHEA took out.

How do I find them?

Before March 2018: Search for NP lease invoice or NP loan invoice in the treasurer mail account.

March 2018 and after: Search for intuit loan nasco properties in the treasurer mail account.

Yes, there should be folders for these. No, there aren’t any.

Can I get an itemized breakdown of the invoices?

Yup! You’ll get an email which looks like this:

Typical Intuit invoice email for NP lease payments.

Typical Intuit invoice email for NP lease payments.

Clicking on it takes you to a page like this:

Example of the itemized breakdown of the invoice on Intuit’s website after clicking the button in the email.

Example of the itemized breakdown of the invoice on Intuit’s website after clicking the button in the email.

On this page you can see invoice detail. Also, make sure you’re logged in (and to the correct account; one treasurer almost bankrupted himself by not paying close enough attention).

Typically the loan payments are sent as replies to the lease payments, but make doubly sure.

Bank Accounts

The outgoing treasurer must be taken off all CHEA accounts, including house accounts. The incoming treasurer needs to be added to all relevant accounts. See the Bylaws Section 8 for more information.

Debit Cards

There are two main issues to consider regarding credit cards:

  1. The new Treasurer must be issued a new debit card for the CHEA accounts; and
  2. Any services which are paid using the outgoing treasurer’s debit cards must be transferred to the new debit card.

Services paid for with the treasurer’s debit card

These are services paid for with the corporate debit card. IT IS IMPORTANT TO SWITCH THESE OVER TO YOUR NEW CARD WHEN YOU TAKE OFFICE. The old cards will be canceled and will not work any more.

DigitalOcean

Without getting into the technical parts, one vital service we use for this very website is DigitalOcean. This is paid for using the Treasurer’s debit card.

DigitalOcean credentials are included with other account and password information.

Acquire Passwords for QuickBooks, Bank, etc

The current Treasurer (Gatlin) keeps account information in a secure file which may be opened using KeePassX. KeePassX is available for every major desktop platform and doesn’t cost any money.

Future Treasures may decide to do things differently or maybe the board will come up with a technology policy that handles this.

How to use these various services

In progress.