Conference Manual

Section No. 3.6

ACM Conference Banking Guidelines

Note: A full set of Banking Guidelines is available from your SIG Staff Liaison when your conference has been approved. It includes sample forms, information from Merrill Lynch and information about wire transfers.

To: Conference Chairs, Treasurers
Cc: Office of SIG Services
From: Russell Harris
Date: October, 2005
Re: ACM Conference Banking Guidelines

I am pleased to announce a more streamlined and efficient approach to conference bank accounts, and that is the introduction of the nationwide Merrill Lynch organization, with 457 offices in the U.S., as our new conference "banker." Individual bank accounts would be opened for each conference, but a number of advantages are provided in using the same organization nationwide:

The most significant advantages are:

• Substantially less paperwork in opening the account and closing the account (Just an e-mail message to your SIG Staff Liaison is necessary to close the account).
• Account balances are automatically invested, and yield significantly higher interest than banks to absorb maintenance fees. Accounts are insured up to $50 million.
• Electronic transfer capabilities are available. Deposits can be made in person or by mail.
• Costs of opening and maintaining these accounts are competitive with commercial banks. Merrill Lynch offers 2 types of checking accounts: WCMA, which will serve the larger conferences, and WCMA II, which is suitable for all other conferences, workshops, etc.
• An 800 number is available for account information at all times.
• Credit card processing for conference registrations will be available through Merrill Lynch. ACM credit card processing is available upon special request.

There are two exceptions where Merrill Lynch will not be used: 1) accounts needed outside the U.S., 2) where a conference is co-sponsored and the other society is responsible for banking arrangements. In all cases, please contact your SIG Staff Liaison who will work with you in setting up a bank account.

Section Title

Opening a Bank Account
WCMA or WCMA II Questionnaire
Banking Materials
Funds Transfer Service Transactions
Federal Funds Wire Capabilities (includes samples on receiving transfers, and sending transfers via Authorization to Transfer)
Bank Account Information Access
Fee Schedule - Definitions
Contacts
Merrill Lynch U.S. Offices

Opening a Bank Account

The primary requisite for opening a bank account is an approved TMRF budget.

Based on conference size and/or need, the appropriate account will be selected for you. The information requested on the questionnaire should be communicated to your SIG Staff Liaison.

Merrill Lynch offers 2 types of checking accounts: WCMA, and WCMA II. Each account offers a different annual service fee along with the different services associated with each account.

Merrill Lynch's signature and account information application is required to be completed upon opening a bank account. Merrill Lynch does not require individual corporate resolutions to be filled out. Please contact your SIG Staff Liaison for the application.

Some information about filling out the appropriate application is as follows:

1. Name of Company - Conference name, with "ACM" preceding it

2. Address of Company - Address of the conference chair or treasurer. This is to allow for proper delivery of monthly bank statements.

3. Signatures - All approved signatory authorities (including the ACM Executive Director) will be identified on this form and all signatures must be original (cannot involve photocopying or faxing at anytime).

4. Check Style - WCMA accounts - For all conferences with gross revenues exceeding $100,000, check style "Secretary" (3 to a page) is recommended. For all other conferences, check style "Wallet size" (1 to a page) is recommended.

WCMA II accounts - The "Regular" style (wallet size, 1 to a page) is used.

All check styles will have a single signature line unless a second line is required by written request only. See Banking Materials for the arrival time of checks to the treasurer. ACM banking policy requires two signatures on the front of the check for checks drawn in excess of $10,000. For checks that do not possess dual signature lines, the second signature should be placed above the first signature.

5. Completion - Return completed form to ACM Headquarters* for account opening and processing. Account numbers will be assigned.

* Send to: SIG Financial Reporting & Accounting
Attention: Russell Harris
ACM Headquarters
2 Penn Plaza - Suite 701
New York, NY 10121-0701

WCMA or WCMA II Questionnaire

(To Be Sent to SIG Staff Liaison)

1. Name of the Conference and Location:

2. Length of the Conference (1-3 day workshop or 3-5 day conference):

3. Total attendees (estimate): Pre-Reg. (est.): On-Site (est.):

4. TMRF budgeted revenue:

5. Vendor Size (How many checks will be disbursed):

6. How is the conference accepting payment for registrations: Cash and/or Credit Cards:

7. If the conference accepts payments via credit card is there a processor company available to accept the conference's credit card transactions:

8. How many bank accounts does the conference plan to have operating:

9. If more than 1, what will be the purpose of each account:

_________________

FOR ACCOUNTING USE ONLY

Bank Account Sequence #:
Merrill Lynch Account:
Account Opened by:
Date Opened:

Banking Materials

The following materials will be provided to the treasurer upon the opening of the account:

1. Checks - Will be sent within 7 to 10 business days for regular orders, 2 to 3 weeks for special orders (dual signature lines).

2. Deposit slips - For deposit use at local Merrill Lynch banking offices. Deposit slips will have the name of the account with the assigned account number (see Opening a Bank Account - Completion). See Merrill Lynch Banking Locations for a listing of Merrill Lynch offices in your area and the area of the conference site.

Each check being deposited must be endorsed in the name of the conference as shown on the application (see Opening a Bank Account - Name of Company), with its accompanying account number (see Opening a Bank Account - Completion).

3. Deposit check mailers - For Merrill Lynch banking by mail. Please include the account number (see Opening a Bank Account - Completion) on the back of the check. Send deposits (with deposit slip) to the pre-printed address on the envelope:

Note: Prior to receiving check mailing envelopes, deposits could be made (by mail) to the Merrill Lynch office in New York, provided that the endorsement on the back of the check includes your account number. At all times, when using Fedex please use the Merrill Lynch New York address.

The Merrill Lynch office address in New York is:

200 Park Avenue
West Mezzanine
New York, NY 10017
Attn: Steven Ernst

Currency is not handled at the Merrill Lynch branch offices.

Transactions of more than $5,000 require the filling out of an IRS information report and Merrill Lynch has elected not to handle transactions of this type unless they decide there are special circumstances.

4. Foreign Check Deposits - Merrill Lynch provides the ability to convert foreign currencies at a rate of up to $65.00 per check /draft. Merrill Lynch will only accept checks/drafts in excess of $100 (US). The checks/drafts will be held until clearing. This means that funds will not be available before 4 to 6 weeks.

ACM, therefore, recommends that all foreign checks/drafts be sent to SIG Financial Reporting and Accounting at ACM Headquarters for deposit through ACM's international currency broker. Charges will range between $2.00 and $10.00 per transaction, depending on the country. Funds will be made available in less than 1 week for foreign checks drawn on a U.S. bank. Funds will be made available in approximately 2 weeks for foreign checks drawn on a foreign bank.

5. Bank Statements - Monthly original statements will go to the chair or treasurer with a duplicate going to ACM Headquarters SIG Financial Reporting and Accounting. Merrill Lynch will send out these statements by the eighth business day of the month.

Funds Transfer Service Transactions:

This service is only available if both criteria are met:

1. Your bank account is operating under WCMA

2. The conference is operating with at least one other bank account in addition (i.e., Merrill Lynch and another bank).

This service allows conferences to freely transfer funds electronically between conference bank accounts only.

Please contact SIG Financial Reporting and Accounting at ACM Headquarters (212-626-0584 or 0586) for information on how to enroll in Funds Transfer Service.

Federal Funds Wire Capabilities

Wire Transfers Into An Account:

For information about transfers into an account and forms needed please contact your SIG Staff Liaison.

Wire Transfers Out of An Account:

The following is the procedure for processing wire transfers out of an account at Merrill Lynch to another party:

An Authorization To Transfer resolution must be completed by the Conference Treasurer with the following information on the resolution (contact your SIG Staff Liaison for an example):

1. Amount to be transferred,
2. Name and address of the payee's bank accepting the transfer,
3. The payee's bank ABA routing number, and/or
4. Federal funds wire account number,
5. The payee's account name and account number.

A blank Authorization To Transfer resolution is available for you to use. (Contact your SIG Staff Liaison for an copy.).

Please note that the letter must be mailed to Merrill Lynch* with the actual signature on the letter.

* Mail To: Merrill Lynch
200 Park Avenue
West Mezzanine
New York, NY 10017
Attn: Steven Ernst

Please note that your account number will not appear on the checks (including the bar tracking code). There are 3 sets of numbers that appear on the bar tracking code:

1. Automatic Clearing House (ACH) number: 9 digits
2. Check processing account number: 12 digits
3. Check number: last 4 digits

Bank Account Information Access

Your conference bank account is located at a Merrill Lynch New York office. Due to privacy and internal security regulations, all other Merrill Lynch offices are unable to access your bank account. There is an 800 service for account information, 24 hours a day: 1-800-MER-WCMA. This can be used for accessing your balance, last deposits made, dividends, and charges to your account.

Instructions to obtain daily account balances from Merrill Lynch, on a phone-in basis, are as follows:

1. Phone Number - 1-800-MER-WCMA (1-800-637-9262)

2. Enter your bank account's 10 digit access code. The 10 digit access code will appear on the last page of your monthly bank statement. After entering the access code, choose menu #1 to obtain your bank balance, menu #2 for check clearing, deposit ("funds received"), and interest and dividend information, or menu #0 to speak to a representative.

3. Prior to receiving your initial monthly bank statement, choose menu #0 to speak to a representative. In this case, present the account number (see Opening a Bank Account - Completion) to the representative in order to obtain your account balance. You can also obtain your account's 10 digit access code from the representative upon request.

The Merrill Lynch banking arrangements now provide an electronic service that will be very useful for conference treasurers and chairs. With an assigned password, current banking information is available within the Merrill Lynch banking website as a "read only" file. This will be real time information, and will enhance the conference's management of its banking activities. The printed copy of the monthly statement will be sent to you regardless of whether you choose this option.

If you would like this service, please contact Darren Ramdin (ramdin@acm.org or 212-626-0584) or Steve Sisler (sislers@acm.org or 212-626-0586) at ACM HQ.

Fee Schedule - Definitions

Contact your SIG Staff Liaison for schedules

A clarification of the fees and/or services provided by Merrill Lynch are as follows (refer to the fee schedules):

Checking Related Charges:

a. Check Processing - For checks paid through the Merrill Lynch bank.

b. Check Printing - Charges will vary based on quantity ordered, design and style selected. A brochure is available for requests for a "special order" check style. Special orders are only available to accounts operating under WCMA. Please contact SIG Financial Reporting and Accounting at ACM Headquarters (212-626-0586 or 0584) for more information on special order check styles.

c. Copies of Canceled WCMA Account Checks - checks paid through the bank will not be returned with the bank statement, except upon request by the treasurer to Merrill Lynch. Merrill Lynch's bank statement provides information as to the check number and the payee of that canceled check. Please note that Merrill Lynch will keep canceled checks for a period of 1 year. All requests should allow 7 to 10 day turnaround time. For request call, 1-800-CMA-INFO.

d. WCMA Checks Returned Unpaid - For checks written from the Merrill Lynch account without sufficient funds to cover that check.

Deposit Processing:

Dishonored Checks Deposited in WCMA Account: Checks deposited where the payor's (Registrants, etc.) account does not have sufficient funds to cover their check.

Funds Transfer Service (FTS) Transactions: Transfers for conferences that have multiple bank accounts (see transfer information).

Federal Funds Wires: Transfers back and forth between Merrill Lynch and other parties (see wire information).

Contacts

1. At Merrill Lynch: Steven Ernst, Senior Financial Consultant, phone # 212-338-6000

2. At the Association for Computing Machinery: phone # 212-626-xxxx (see ext.)

Office of Financial Services:

Russell Harris, Director, Office of Financial Services, ext. 0595
Darren Ramdin, Associate Director, SIG Financial Reporting, ext. 0584
Steve Sisler, Staff Accountant, SIG Financial Reporting, ext. 0586

Office of SIG Services:
Donna Cappo, Director, ext. 0606
Jessica Wilmers-Fried,Conf. Manager ext. 0617
Brooke Hardy, Prog. Coordinator ext. 0602
Stephanie Smith, Prog. Coordinator ext. 0612

Date Revised: 2006 by Maritza Nichols nichols@acm.org