Welcome to

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• Welcome to
• How to efficiently and correctly process your
  units finances

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Subtitled

• Im from Wing and Im here to help
• Captain Rich London
• NC Wing Finance Officer
• rlondon_at_servman.com

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Goals

• Explain why accurate financial reporting is so
  important
• Explain how the Wing Banker Solution works
• Explain the procedures for depositing and
  withdrawing money
• Explain why I am on your side

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Understand this

• We are all volunteers

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Advantage

• Usually passionate about helping

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Disadvantages

• Usually have little spare time
• Must WANT to follow the rules cant be forced

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A little background

• CAP nationally reports to Congress and the Air
  Force
• (Think of them as our parents)

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The role of a parent

• Set rules and expectations

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A parents expectations regarding money

• Spend it wisely
• Be accountable

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We seek missions from Homeland Security and other
Federal and State agencies

• (Think of them as our customers)

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What does financial reporting have to do with our
customers?

• Think about how you choose a service company to
  install or repair something for you.

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Questions you ask yourself

• Are they qualified?
• Can they be trusted?

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How does that apply to CAP finances?
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First our obligation to our parents

• Congress and the Air Force expect us to spend our
  money wisely and be accountable in our reporting.

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Our obligation to our customers

• Are we qualified?
• Can we be trusted?

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Why are we having this discussion?

• Help the Wing accurately report the units
  financial status to National so our parents and
  customers will know what our resources are and
  know that we can be trusted with their money.

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This requires an Unqualified Audit
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Why havent we been able to get an Unqualified
Audit?

• The units conduct their finances on a Cash basis,
  the Wings and National are on an Accrual basis.
• The units do not file timely or accurate
  financial reports. (47 of units still havent
  filed their Year End 2006 NCWGF 37)

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The solution

• Have the full-time Wing Administrator handle
  the day to day accounting chore of posting the
  deposits and writing the checks UNDER THE
  DIRECTION OF THE UNITS FINANCE COMMITTEE.

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What does it accomplish?

• It accounts for the funds and activity of all
  units at the wing level
• Provides greater accountability and reporting of
  CAP appropriated and corporate funds
• An unqualified audit opinion enhances public trust

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• Finances are an emotional topic
• Dont mess with peoples money!

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Debunking some rumors

• The Wing wants to take our money.
• The Wing cant be trusted with the money.
• Our Squadron wont be able to get a check when we
  need one.
• This will cause more work for Wing.

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Benefits to the Unit

• Allows units to focus on CAP mission
• Decisions and control remain with the unit
• Unit does not have to file 173-2
• An unqualified audit opinion will be a catalyst
  for additional missions for squadrons nation wide

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Do we have to do it?
YES!
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You are taking our money!!

• No--The unit still has control of how the funds
  are spent
• The wing is acting as the bank, accountant and
  reporter
• Reports of activity and unit balances will be
  provided

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How does the Wing Banker Solution work?

• Unit sends a final year end report (NCWGF 37)
  (available on the Wing web site)

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• Unit either sends a check to Wing or makes a
  deposit directly and then files NCWGF 36

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• Unit sends properly signed check request (NCWGF
  35) to Wing by Wednesday to have check mailed out
  on Friday.

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Advantages to Unit Finance Officer

• No longer needs to complete quarterly or annual
  finance reports
• No longer needs to write and mail checks to
  vendors

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Reporting Policies

• Submit the final CAPF 173-2 within one month of
  receiving the final bank statement
• Include a copy of the final bank statement
  showing a zero balance
• The final transaction should be recorded as an
  expense with Regions and Wings on the units books

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Questions?