Division Financial Management

Division financial management is handled by the TCA office. This includes making deposits, paying expense vouchers and providing Monthly Financial Reports. TCA assesses each division a percentageof all division revenue to help cover the administrative costs associated with these services.

ANNUAL BUDGET - To develop your annual budget:

  1. Treasurer and President drive budget planning.
  1. The fiscal year runs from July 1 to June 30.
  1. TCA will provide you with a budget template, projected year end, activities worksheet, and prior year’s budget documents by March 1.
  1. Review prior years, YTD activity, and include your upcoming year activities.
  1. Division Board approves budget by April 15.
  1. Budgets must be submitted to TCA by April 15 to be included in the TCA budget planning process.
  1. TCA Budget planning takes place late April/early May.
  1. TCA Board and Senate approve budgets at June meetings

DEPOSITS - To make a deposit into a division account:

  1. Total the checks (do not send cash)
  1. If you have a credit card transaction, please call the TCA office 512-472-3403 x10.
  1. Indicate what the checks are for and the line item in your budget they should be included (conference income, sale of items, etc).
  1. Make and retain copies and mail originals to TCA office.
  1. Review the financial reports the following month to confirm the deposit was made.

EXPENSES - To pay an expense from a division account:

  1. Use and distribute division expense voucher to division leadership.
  1. Use division expense voucher, which includes accounting codes to be coded to division budget categories. You must code all expenses.
  1. Attach appropriate receipts to expense voucher. Copies of receipts are acceptable. If you submit copies of receipts, you do not have to submit originals.TCA recommends expense vouchers be submitted within 10 days of the expenditure or event and no later than July 31 of each fiscal year. Mileage is reimbursed at the IRS rate. Lodging and food receipts should be used whenever possible in lieu of stipendsor per diems to reduce personal IRS liabilities.
  1. The expense voucher should be signed by the Division Treasurer or President to indicate approval to pay from the division account.You can not approve your own expenses.
  1. Make and retain copies and mail the original expense voucher and receipt(s) to:

TCA

ATTN: Kevin Shuck

1204 San Antonio, Suite 201

Austin, Texas78701

  1. Expense vouchers and receipts may alternately be emailed to . To avoid confusion, please do not mail expense vouchers that you fax or email.
  1. Review the financial reports the following month to confirm the expense was paid.

MONTHLY FINANCIAL REPORTS - Monthly Financial Reportsare emailed to the division Treasurer, President and Director around the third week of the following month (i.e., January financial reports are emailed around the third week of February).It is very important that these documents are reviewed by the division leadership monthly.

Please note: Reports are sent in Microsoft Excel. When you first open the document, you will be viewing only one tab in the worksheet. Each report has an individual tab. You can find the tabs on the bottom of the document. If you need technical support to view these documents please contact Kevin at 512-472-3403 x16.

The monthly financial reports include:

  1. Balance Sheet – shows the account balance in the division checking account(s) as of the end of the current month.
  1. Budget vs. Actual – shows income and expenses compared to budget
  1. Profit & Loss YTD Comparison – shows the income and expenses for the current month and YTD.
  1. Profit & Loss Detail – shows detail line by line item included in the YTD Comparison.
  1. Enrolled Member Roster – shows those individuals who joined or renewed during the current month.
  1. Expired Member Roster – shows those individuals whose membership expired at the end of the report month and who have not renewed by the time the report was pulled.
  1. Member Count – total number of current division members is included in the email.

Contact:Kevin Shuck at r 800-580-8144 x16