Conference Manual

Section 3.1

CONFERENCE FINANCIAL MANAGEMENT

Overview

CONFERENCE PLANNING

Income Assumptions

Registration:

• Attendance estimates...Based on location, program content, prior conferences and market factors.
• Pricing and discounts..Advance vs. Late registration. Separate fees for the conference and tutorials.
• Additional pricing considerations...Members, Non-members, Students, Complementary.
• Some SIGs offer membership to non-members in lieu of the higher price usually charged non-members.

Programs:

• Technical program...Plenary sessions...Keynote speakers
• Tutorials...Selection of appropriate material, presenters, honorariums, travel reimbursement.
• Workshops/Symposiums
• Exhibits...Trade show opportunities
• Special Events...Opportunities for networking, social setting.

Expense Assumptions:

• Location...Hotels, Conventions Centers, Universities
• Promotion, Publicity...Call for Participation, Ads, Flyers.
• Programs...Speakers, Sessions, Audio-Visual Equipment
• Proceedings, Tutorial Notes, Advance/Final Program...Design, Printing and Mailing
• Food & Beverage...Coffee breaks, Breakfasts, Receptions, Banquets.
• Meeting Planners...Other consulting services.

BUDGET PREPARATION

1. Use electronic TMRF budget template.
2. Enter income and expense assumptions...compare to prior conferences.
3. Consider cash flow requirements.
4. Submit to ACM/SIG Conference Budgets Coordinator to start the approval process.

BANKING

• ACM provides the use of Merrill Lynch banking facilities.
• Choice of services are: WCMA and WCMA II
• The difference between the two represents differing levels of service and fees charges. Generally a small conference may find the WCMA II better suited to its needs.
• WCMA charges an annual fee of $150.00. Deposits are charged at the rate of $0.25 for each item after 100/month and checks cleared a re-charged above 200/month at the rate of $0.15 per check cashed.
• WCMA II charges annual fee of $90.00. Depositis are charged at the rate of $0.25 for each item after 100/month and checks cleared are charged at the rate of $0.15 per check cashed.
• Bank signature cards usually include the conference chair, conference treasurer and ACM Executive Director.
• An 800 number is available for account information.

CREDIT CARD SERVICES

Conferences may contract this service to professional providers or may elect to handle with volunteers. In either case, the funds must be deposited in the above described Merrill Lynch conference bank account.
ACM provides the credit depository process when requested. There are fees associated with this services.

ACCOUNTING SYSTEM

The Treasurer should arrange to use an accounting system such as “Quicken” for check disbursements, deposits and reporting. Bank reconciliations, cash flow analysis and budgeting are features of this accounting software package.

CONFERENCE CLOSING PROCEDURES

To ensure the appropriate closing of a conference’s books, the conference treasurer or chair must comply with ACM policy in these regards.

Send all of the following within 120 days after the completion of the conference to ACM headquarters to the attention of the appropriate SIG Staff Liaison.

1. Final financial report for the conference.

• Should consist of a summary by the appropriate TMRF coding scheme for both actual and expense.
• A lisiting of all expenditures for each TMRF coded area.
• An alphabetical listing by vendor, contractor, instructor, volunteer.
• A lisiting of those individuals subject to IRS reporting requirements for 1099 filing and similiar information for non-resident visitors paid by the conference.

2. Return all surplus funds (usually by check) to ACM
3. Close the bank account and send the final bank statement.
4. Return all financial records, such as:

• remaining unused check books.
• payment vouchers, travel reimbursements (with receipts)
• attendee registration forms, bank deposit receipts, etc.
• any other financial related materials.

REGULATORY ISSUES

VARIOUS TAX RELATED MATTERS

• Payments to independent contractors, speakers, etc., are sudject to US IRS Miscellanous Income (form #1099) reporting for US residents.
• Non-US residents (foreign nationals) are sudject to different provisions of US tax and INS regulations. Visas must be of the class that permits payment for services performed. Where payments are permitted, tax treaties between the US and the individual country of residence will govern the appropriate tax withholding and reporting requirements. (form #8233).
• State and local sales taxes.
• Purchases may be exempt in certain cases.
• Sales of merchandise, proceedings, videos, etc. are almost always taxable.
• Canadian Provincial Sales Tax and National GST.
• European VAT and Turnover Taxes.

INSURANCE

• Cancellation insurance.
• Earthquake and other disaster insurance.
• Convention centers may require “names insured” certificates of insurance.
• Exhibitors should demostrate appropriate insurance coverage.
• Public liability, personal injury, property damage insurance must be adequate for conference activities.
• Fidelity Bonding.

LEGAL/POLICY STANDARDS

• Contracts with convention centers, independent contractors, and other providers or services may be required. Refer to ACM policy for guidance and seek assistance from the ACM/SIG SIG Staff Liaison.
• Copyrights and Permissions from author/owners.
• Accommodation for handicapped attendees (ADA).
• ACM and SIG policy and procedures.
• Generally Accepted Accounting Standards (GAAP).

CONFERENCE AUDITS

ACM policy requires an audit of every conference grossing $250,000 or over. Conferences with gross revenue of less than this amount will be selected on a random basis.
The audits may be considered by a professional auditing firm or by ACM’s internal audit staff.

Other Special Audits covering:

NSF and other Federal Awards Programs...Conformance to requirments include financial: contractor/vendor bidding process, files retention, travel policy, other appropriate supporting documentation and socio-political areas, such as : ACM policy on adherence to Civil Rights, Drug- Free workplace and Equal Employment Opportunity.

Date Revised: June 3, 2005