oct 22 shared services webinar.pptx [read-only] · gains, improved controls from segregation of...
TRANSCRIPT
Shared ServicesOutside ServicesNational Services
BACK OFFICE BUSINESS SOLUTIONS
Goals for Councils Using these Services
• Allows the Council to focus on core competencies
• Gain efficiencies• Reduce distractions• Simplify Council structure• Possibly save money (but not necessarily the prime motivator)
Jitasa OverviewOptimizing Council Operations
throughShared Accounting Services
BSA National Introduction January 201141councils as of October 2014
Jitasa & BSA
Team Based Approach
Council Service Team
Specialist Team
TaxEndowments
Fixed Assets Financial Analysis(e.g. Budgeting, Cash
Flow)
Primary Accounting Associate
Supporting Accounting Associates
Each council is assigned to a Primary Accounting Associate, with support from their CouncilService Team and Specialist Team
The BSA Systems
General Ledger
Fund‐raising
Sellwise
Payroll
AP
Regis‐tration
$$$$ IN $$$$ Out
InvoicesInvoices
Time Sheets & ChangesTime Sheets & Changes
ChecksChecksApprovalsApprovals
ApprovalsApprovals•Journal Entries•Monthly Reports•Fund I, II, III reconciliations•Bank reconciliations•Reclass funds•Balance sheet schedules•Audit support•Fixed Asset•Insurance•Credit cards•Periodic close
•Journal Entries•Monthly Reports•Fund I, II, III reconciliations•Bank reconciliations•Reclass funds•Balance sheet schedules•Audit support•Fixed Asset•Insurance•Credit cards•Periodic close
BSA Firewall
Jitasa’s BSA Accounting ExperienceExpertise and familiarity with all BSA finance & accounting systems:• PeopleSoft, SellWise, IOI Pay, ScoutNET Fundraising, DoubleKnot, BSA 403(b) (Mutual of America
and Fidelity), PayPal and others…
Full council accounting responsibilities including:• PeopleSoft Project Code Management • Bank and Sub‐Ledger Reconciliations in PeopleSoft• Accounts Payable Processing• Month‐End & Year‐End Close and Financials and Council Audit Prep & Support• Fixed Asset Management (Fund 2)• Endowment & Investment Account Management (Fund 3)
Team Accomplishments:• 45+ years of combined BSA accounting experience• 20+ years of combined BSA PeopleSoft experience• 500+ Month‐End Closes and JTE Transmittals completed• 40+ Year‐End Closes and BSA Audits Concluded
8Copyright 2013 Jitasa ‐ Confidential ‐ For Internal Use Only
Council & Jitasa Roles & Responsibilities
Council Service Team
Daily, Weekly, Monthly Communication
Accounts Payable
Coordinate Payroll
Bank Reconciliations
Reconcile Trading Post and Sellwise entries
Update Monthly Balance Sheet and Operating Statements
Month End Close
Audit Preparation
Specialist TeamCapital Fund Reconciliations
Endowment Fund Reconciliations
Fixed Asset Depreciation
BSA Council TeamScout Executive
Monthly Calls
Approved PersonnelApprovals
CoordinatorCode infoGet info to JitasaHelp facilitate processAccounting knowledge beneficial/not required
VP Finance / TreasurerMonthly contact
Jitasa Benefits to BSA CouncilsImmediate access to expertise with all BSA accounting and financial operating systems, processes, and procedures
Breadth/depth of experience in PeopleSoft
Support from a team of BSA accounting resources, allowing for efficiency gains, improved controls from segregation of duties, and consistent availability
Increased transparency/visibility to council financials
Council employee turnover issue is removed
Vendor management versus employee management
Greater focus on driving membership, programs, and fundraising
Steve DoudDirector of Sales
1750 W Front St., STE 200Boise, ID 83702
Phone: 208.287.4777 x135Email: [email protected]
www.jitasa.is/bsa
For More Information
BSA Asset Management, LLC• Mission ‐ to provide a high quality yet low cost investment
option to any local council that wishes to participate• BSA is the only member (owner) of the LLC• Board of Managers, consisting of BSA volunteers, appointed
by BSA’s Executive Board• Board of Managers oversees all investment decisions• Expected long‐term investment returns are targeted to
support a 5% spending rate without eroding real value of fund• The LLC is the governance structure for all National Council
assets
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Endowment$535
Pension$1,152
RBT$149
GLIP$63
EWB$69
DC$220
$1.97 Billion
BSA Asset Management, LLCAUM as of June 30, 2014
(millions)
BSA Commingled Endowment Fund, LP
• Designed specifically for Boy Scouts (spending policy)• Allocation is structured to support up to 5% spending rate
while maintaining integrity of the corpus, long‐term target of 7.85% gross (5% spending + 2.25% inflation + 0.60% costs)
• Focuses on a high quality, institutional process• Accomplishes low cost through economies of scale – BSAAM
has over $2 billion under management• Very low cost – 60bps “all‐in” which includes BSAAM’s
advisory fee of 8bps • BSA Endowment Master Trust (option) available for council
trusts to retain a corporate trustee – 15 bps trustee fee
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Asset AllocationAs of September 30, 2014
US Equity30.9%
NonUS Equity25.2%
Real Estate11.8%
Inv Grade Fixed19.7%
High Yield Fixed11.8%
Cash Equiv0.5%
$535 Million
16** Represents return for the BSA Commingled Endowment Fund, LP. Past performance is no guarantee of future results. Future performance may be lower or higher than the past performance of the BSA Endowment . Returns are before investment expenses of approximately 0.60% annually.
Investment PerformanceComparison with University Endowments
9.710.110.3
8.912.2
11.28.7
12.710.9
11.39.8
12.3
Brown *BSAAM**Columbia *
Cornell *Dartmouth *
DukeHarvard *
MITPenn *
Princeton *Stanford
Yale *
0.0 5.0 10.0 15.0
* Ivy League Schools
Three Years Ending June 30, 2014 (Annualized)
Process to Invest• 62 local council partners as of June 2014 • Council contacts BSAAM to schedule presentation• Investment/Endowment committee recommends investing
minimum $250K of endowment funds with BSAAM• Council enters into LP and Subscription agreements (or trust
Merger & Adoption agreement if Master Trust option selected)
• Funds moved to BSAAM• Council arranges distributions as needed (one‐time or
recurring monthly, quarterly or semi‐annual frequency)• Council receives monthly performance and accounting reports
as well as a quarterly fund report
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Contact: Ken KingDirector of Client Services and Operations
Telephone: (972) 580-2065
Email: [email protected]
Address: 1325 W Walnut Hill Lane, S403Irving, TX 75038
Fax: (972) 580-2112
For More Information
Member Data Shared Services
Easy Peasy
The council RECEIVESregistration paperwork, RECEIPTS the fees, APPROVES and signs adult applications and renewal paperwork, then SCANS it securely to registration shared services for processing.
Member Data Shared Services…
• Reviews paperwork for accuracy and completeness
• Notifies the appropriate DE via email of any issues
• Posts all registrations
• Submits adults leaders for a criminal background check
• Stores CBC disclosure/authorization forms electronically
• Prints and mail all membership cards, rosters and charters
Benefit to Unit Serving Executives• Defective notices emailed directly to the appropriate field staff and their supervisor daily
• 2nd and 3rd reminders are emailed weekly and the Scout executive receives summary report
• More time in the field…less time in the office
Process Improvement
• Sub ledger reconciliation not normally done now
• Simplifies accounting specialist job
• Provides reporting not currently available to councils
• Helps manage cash flow
Month‐End & Customized Reporting (optional)
• After membership month‐end close, the following reports are emailed to the councils in PDF format.
• District Totals Report•Objectives Progress Report•Monthly Membership Status Report•Unit/Group Status Report• District Advancement Report
NEW SERVICE OFFERING AVAILABLE!!!!
Advancement and Training Data Entry
FINANCIAL SHARED SERVICES
• Mercury Pay Credit Card Processing• Group Purchasing – 2 Options• CAP/Sellwise Point of Sale• Auditor Referral Program• IOIPay Payroll • Camp Cards• Hartsook • 501(c)3 Unemployment Trust
Mercury Pay – Credit Card processing• Fees negotiated based on national volume• .14 per transaction• Potential for BIG savings from current fees• Can be used with Sellwise or any POS software• Est. savings in Michigan $70,000 annually• Est. $3,500 annual savings for class 500
council
Group Purchasing• BSA National Purchasing – Jim Horner• Purchasing Point – NHSA Alliance
CAP/Sellwise Point of Sale Software•2 hour guarantee for returning support calls•EMV “Chip & Pin” Solution by 10/1/2015
Auditor Referral Program• Knowledgeable, reliable• Wiggins – Utah• BlumShapiro – Connecticut• WIPFLi – Minnesota• Carr, Riggs & Ingram – North Carolina
IOIPay – Payroll services1. 100% paperless saves money2. Go Green!
3. Mobile app giving employees quick, easy access to payroll information
Camp Cards • Entertainment Book secures merchants
reducing staff time and involvement• Fast reorder time• Competitive pricing
Hartsook – NEW!• Operating fund development • Full time, part time, shared time• Single council or share cost with neighbor• 3 year contract
•BSA Unemployment PlanAdministered by 501(c)3 ServicesControl unemployment costsSave staff time when responding to claimsHelp council plan ahead to avoid claims
For More Information
ContactMike Watkins