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Finance Impact e-Letter: Shared Services Can Save Councils Money and Reduce Leadership Hassles

December 11, 2014

Boy Scouts of America Unemployment Plan

Most states require employers to pay unemployment insurance premiums to the state. The council is then responsible for handling all unemployment claims, appeals, etc., as they arise.

Participants in the BSA Unemployment Plan can potentially save money on unemployment insurance costs by reimbursing claims in a secure environment. For more than a decade, the plan has helped councils control unemployment costs and save valuable staff time, supported by experts focused exclusively on helping nonprofits.

Subject matter experts at the plan can help councils plan ahead to avoid claims, minimize inaccurate claims, and save staff time responding to claims. The plan’s full service, proactive in-house professionals—supported by a hands-on comprehensive system of services—will work with council staff to effectively approach reducing claims.

For more information, contact Brian Allen at 800-442-4867 x161.

Hartsook Fundraising Partnership

The BSA and Hartsook Companies, Inc., have partnered to provide local councils with profitable, year-round, professional fundraising expertise for operating fund income streams.

This alliance will give councils the freedom to focus on Scouting and leave fundraising to the experts. The scope of the three-year contract is helping councils achieve their operating fund goals: FOS (board, community, and family), special events, United Way, product sales, etc.—all things affecting the operating fund. Councils can contract for full-time services (16 days per month), part-time services (10 days per month), or shared services (16 days per month shared among two or more councils).

Contact Danny Kohrs for more information at 866-630-8500 x8400.

BSA Asset Management Update

As of September 30, 2014, 60 local council-affiliated partners now use BSA Asset Management, LLC (BSAAM) as an investment manager. In the three months ended September 30, 2014, the fund earned -1.81 percent, while the one-year return was 8 percent (net of fees). How does that compare to your council’s investment returns?

While past performance is no indicator of future returns, the fund also has a very low cost basis, which allows these councils to save significant dollars in management and trust fees.

If your council is interested in learning more about BSAAM, or if you would like to compare your endowment returns with BSAAM’s, please contact the BSAAM team atbsaam@scouting.org for a full set of offering documents and/or the endowment return comparison tool. There is no obligation.

Please Note: Only BSA local councils or affiliates are eligible to invest in the BSA Commingled Endowment Fund, LP. This article does not constitute an offer to sell securities, which shall only be done by means of the offering documents. Past performance is not a guarantee of future results.

*Assumes annualized rate of return of 8 percent over five years, paying 1.6 percent in total annual fees compared to BSA Commingled Endowment Fund, LP’s total annual fees of 0.6 percent. This is an example for demonstration purposes and “fees” includes investment management, recordkeeping, custody, legal, accounting, administration, and fund level fees.

Upcoming Webinars

PeopleSoft Year-End Close—Accounts Payable & General Ledger:

  • December 9 — 10 a.m. CT and 2 p.m. CT
  • December 11 — 10 a.m. CT and 2 p.m. CT

This webinar is intended for accounting specialists in councils using PeopleSoft Financials software. The presenter will discuss the year-end close process for accounts payable and general ledger. Included topics are: closing AP, making adjustments after year-end close, and reclosing the year after adjustments. This webinar is one-hour long. To connect to the web conference:

First, connect with your telephone:

1. Choose one of the following numbers to dial:

  • Toll-Free Number (in USA): (888) 251-2909
  • Caller-Paid number: (215) 861-0692

2. When prompted, enter the meeting access code: 8308887#

Second, connect to the Web conference:

We will also host a Q&A at the end of the session.

If you have any issues accessing the teleconference or the web conference, please contact the Member Care Contact Center at 855-707-2644.

Budget Building for PeopleSoft:

  • November 18 — 11 a.m. CT
  • December 2 — 10 a.m. CT

Discover how to download your current year budget from PeopleSoft and modify it to create the 2015 budget and then upload it into PeopleSoft. This webinar is one hour long. To connect to the Web conference:

First, connect with your telephone:

1. Choose one of the following numbers to dial:

  • Toll-Free Number (in USA): (877)873-8018
  • Caller-Paid number: (636)651-3182
  • Blackberry (Toll-Free Number): (877)873-8018×2556211#

2. When prompted, enter the meeting access code: 2556211#

Second, connect to the Web conference:

Please log in using the following format: Jane Doe-L000

We will also host a Q&A at the end of the session.

If you have any issues accessing the teleconference or the Web conference, please contact the Member Care Contact Center at 855-707-2644.

IOI Pay—Year End Process:

  • November 20 — 2 p.m. CT
  • December 4 — 2 p.m. CT

Please see the IOIPay flier for login information

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Finance Impact e-Letter: Shared Services Can Save Councils Money and Reduce Leadership Hassles
Finance Impact e-Letter: Shared Services Can Save Councils Money and Reduce Leadership Hassles
Finance Impact e-Letter: Shared Services Can Save Councils Money and Reduce Leadership Hassles