FINANCE / TREASURER

Welcome Treasurers!

Hello! I'm so happy to be serving as your Region X Treasurer.

-Kevin Baldwin

Kevin Baldwin

Region Treasurer

McClintock & Bustad, Inc.

(916) 990-6542

kevin@mcbreznor.com

Travel Reimbursement

For reimbursement of an expense that should be paid for by the region (refer to Expense Reimbursement Policy) please email a summary of expenses, receipts, and your address (for the check) to kevin@mcbreznor.com. The request must be sent within 30 days from the date of the expense incurrence. 90 days is the absolute cutoff, if there are extenuating circumstances. Please allow a week for response, and if you haven't heard from me by then, feel free to email, call, and do whatever you want to get my attention!

Chapter Treasury

These are the key dates for Chapter Treasurers (and other Chapter Board Members) to keep in mind:

  • ASAP - take five minutes to read these key sections of the Manual for Chapter Operations (MCO)

    • Chapter 4 - Finances​

    • Appendix 1D - Recommended Treasurer Timeline and Duties

  • July 1, 2017 - Year-End Activities:​

    • Close out the 2016-17 fiscal year​ books

    • If you haven't already, establish an audit committee and get your books audited. Per Section 8.3.2.1 of the Manual for Chapter Operations (MCO), the Auditing Committee shall consist of three (3) members, none of whom shall be members of the Board of Governors, and shall elect its own chair. Audits should be submitted to the Regional Treasurer and DRC by September 30th, 2017 (email kevin@mcbreznor.com; mcalad@norman-wright.com). The audit must be completed before you file taxes!

    • Coordinate with banks, investment firms, etc. to update their records and signature sheets with the new treasurer and applicable board members. Remember that there should always be more than one person with account responsibility and signing permissions.

    • Establish a budget for 2017-18. Don't forget to include the regional dues that must be paid to Region X by January 30th. Final amount will be confirmed at the August CRC, but the 2016-17 amount was $10 per area assigned member.

  • August 13, 2017 - Come to the Treasurer's workshop at CRC!​

  • September 30, 2017 - Final day to submit your audit reports to the Regional Treasurer and DRC (email kevin@mcbreznor.com; mcalad@norman-wright.com). Refer to MCO Appendix 1C for a sample letter. Technically, this should have been done within the month of July, but we realize many treasurers may not know about the requirements until after the CRC.

  • November 15, 2017 - Deadline for filing:

    • Federal Tax Returns​

    • State Tax Returns (for applicable states)

    • State forms/fees for verification of non-profit status (for applicable states)

    • Please submit a copy of these items to kevin@mcbreznor.com

  • January​ 30, 2018 - Deadline for paying regional dues. Please send check, made out to "ASHRAE Region X" to Annie Foster Courtney at the address listed in the upper-right corner of this page. Final amount will be confirmed at the August CRC, but the 2016-17 amount was $10 per area assigned member.

  • Spring 2018 - Register your Chapter Treasurer for the August 2018 CRC!

  • April 2018 - Get a head start on establishing your Audit Committee (refer to the July 1 notes above).

  • June 30, 2018 - Final day of the 2017-2018 ASHRAE Year. Time to close-out the books.

Additional Tax Info (extracted from MCO Appendix 4B)

Refer to the IRS website at www.irs.gov/eo or your chapter's CPA for full details about filing federal taxes.

General US Federal Tax Filing Requirements for Chapters:
  • Each Chapter much file Form 990-N, Form 990 EZ or Form 990, depending on the amount of the Chapter's gross receipts and/or total assets. The dollar amount limits for each form are subject to change each year. Check the IRS website or the Chapter's CPA for the latest information.

  • Private foundations must file Form 990-PF.

  • The filing date for Chapters on a July 1 - June 30 tax year is November 15.

Key Definitions:
  • Gross Receipts: The gross amount received by the organization during its annual accounting period from all sources without reduction for any costs or expenses including the costs of goods or assets sold; cost of operation, expenses of earning, or collecting such amounts. Gross receipts include, but are not limited to, the gross amount received from contributions, gifts, grants and similar amounts; the gross amount received as dues or assessments from chapter members or affiliate organizations; the gross sales or receipts from business activities (whether or not it relates to your exempt purpose); the gross amount received from the sale of assets; and, the gross amount received as investment income.

  • Unrelated Business Income: Income received from a trade or business which is regularly carried on by the organization and is not substantially related to the performance by the organization of its exempt purpose or function except that the organization needs the profits derived from this activity. Examples of income from business unrelated to the chapter's exempt purpose include, but are not limited to, receipt of fees from member advertising in the chapter newsletter or proceeds of sale of items unrelated to ASHRAE business.

This website is maintained by Region X of ASHRAE. It does not present official positions of the Society nor reflect Society policy. Region X may not act for the Society and the information presented here has not had Society review. To learn more about ASHRAE activities on an international level, visit the ASHRAE website at www.ashrae.org

© 2019 by ASHRAE Region X

ASHRAE Society Website: www.ashrae.org