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Summary of Chapter Financial Policy


The following financial policy should be read in conjunction with the Duties and Responsibilities of the Chapter Treasurer and the Contract Review Policy.

Chapters are part of the New York State Society of Certified Public Accountants (NYSSCPA), a New York State nonprofit corporation. They are created by the NYSSCPA Board of Directors, which also has the authority to dissolve Chapters. Chapters have no legal status as independent bodies. Each Chapter, as well as each Chapter’s governance structure, is an extension of the NYSSCPA. This structure ensures that the limited liability afforded to the NYSSCPA by virtue of its corporate status extends to members active in Chapter activities.

Chapter budgets are submitted annually to the NYSSCPA for review by the NYSSCPA Finance Committee and the NYSSCPA Board of Directors. Chapter budgets are reviewed by NYSSCPA staff to ensure compliance with general budgetary policies as noted below.

NYSSCPA revenue is meant to fund certain expenses that are consistent with the mission and policies of the Society. At times, such revenue may also offset unplanned deficits that result from the thoughtful application of general budgetary policies. In addition to the policies noted below, each Chapter Executive Board should be aware that contracts which involve the expense of more than $10,000 must be approved by NYSSCPA officers. 


Annual Budget

1. In September, the NYSSCPA staff shall send the Chapter President-elect, the Chapter President, and the Chapter Treasurer a budget template and budget narrative template.
2.. The President-elect, the President, and the Treasurer shall use these templates to create a proposed budget for the next fiscal year.
3. The Chapter  Board shall approve the budget.
4. Due Date: The proposed budget and narrative shall be transmitted to the NYSSCPA staff in the first week of December (the exact date will be in the September Transmittal). 
5. The proposed budget is approved at the April NYSSCPA Board meeting.

Other Expenses

1. All expenses for programs devised outside the normal NYSSCPA budget cycle must be approved by the Chapter Executive Board. The approval process should use the following schedule:

(a) Expenses of $2,500 and under require the approval of the Chapter Executive Board and notification of the NYSSCPA Executive Director.
(b) Expenses of over $2,500 but less than $10,000 require the approval of the Chapter Executive Board and the NYSSCPA Executive Director.
(c) Expenses of $10,000 and over require the approval of the Chapter Executive Board and the approval of at least two of three statewide officers of the NYSSCPA Board of Directors: President, President-elect, and the Secretary/Treasurer.

                                                                              GENERAL POLICIES


All events should be planned to break even or generate a surplus that can be used for other approved expenses. Surplus funds, if any, should be applied to any unplanned deficits on a priority basis. The use of surplus funds should be expended consistent with the mission and policies of the NYSSCPA, including the strategic goals as adopted by the NYSSCPA Board of Directors.

Mission Statement

Expenses approved for specific NYSSCPA subsidy, without offsetting revenue, refer to expenses for programs consistent with the mission and policies of NYSSCPA, including, but not limited to, educational outreach to students, recruiting new members, and outreach to the public designed to meet the strategic goals as adopted by the NYSSCPA Board of Directors. It is not expected that surpluses generated by other Chapter events will be used to offset these expenses.

Defraying Program Costs

1. Chapters are encouraged to seek financial sponsors to defray program costs, thereby reducing the need for direct dues subsidization. Chapters shall assist the NYSSCPA in maintaining a master list of sponsors in order to ensure coordination among the Chapters and statewide affinity providers.
2. The food and beverage expenses of honored guests, dais guests, students, and speakers at Chapter events are reimbursable. Chapters may use “open bars” at cocktail or dinner receptions only when these costs are included in the budgeted expenses for the event (i.e., cost of registration) and/or covered by sponsorship funds.
3. All Chapters should strive to use local technical speakers at continuing professional education (CPE) events in order to generally promote technical expertise among the membership. Speaker travel expenses, if needed, should be included the price of meetings. Speaker honorariums are not permitted for CPE or non-CPE events except for Foundation for Accounting Education (FAE)-contracted authors.


Every effort should be made to control costs of mailings, including the use of e-mail. The cost of mailings for an event should be included in the overall budget for that event.

Chapter Executive Board Meetings

See Policy below.


All NYSSCPA Chapter Executive Board members are urged to devote the time necessary to perform the responsibilities associated with their elected office.

It is, therefore, the policy of the Society to reimburse reasonable meal expenses associated with attendance at scheduled meetings of the Executive Board. Organizational meetings for Chapter committees are included in this policy.

Since reimbursement is limited to meetings of the Executive Board and the organizational (first) meeting of Chapter committees, it is highly recommended that group meals be arranged for convenience and cost-efficiency. Per-person costs should be limited to no more than $10 for breakfast or lunch, and no more than $20 for dinner meetings (inclusive of tax and gratuity). The Society will not reimburse the costs of any alcoholic beverages. Timely and appropriate receipts must be provided to the Chapter Treasurer before reimbursement can be made.

Chapters that avail themselves of this policy are requested to be mindful of the need to conserve costs related to Executive Board activities and are, therefore, requested to hold the costs for which reimbursement is sought to a minimum.

Adopted by the NYSSCPA Executive Committee on August 13, 2003

Handling of Sales Tax Exemption, per Counsel’s May 12, 2003, Memo to the Chapter Executive Board

How Are Chapter Purchases Handled for Sales Tax Purposes?

Generally speaking, the NYSSCPA and its Chapters are NOT exempt from sales tax. Although activities of certain charitable organizations are exempt from New York sales tax, a professional society such as the NYSSCPA is NOT a charitable organization. All purchases by the NYSSCPA, including its Chapters, are, therefore, subject to sales tax, unless a given purchase happens to qualify as a nontaxable transaction.

BUT, although the Society itself is not an exempt organization, certain transactions—such as promotional materials sent via a common carrier or the U.S. Postal Service—may qualify for exemption.

What About Educational Activities?

When educational activities are carried on by the NYSSCPA, including its Chapters, the associated purchases are NOT exempt from sales tax. The fact that FAE is a sponsor or a cosponsor of an event and that the FAE sponsor number is being used to support the qualification of the educational activity as CPE for accountants is not the governing factor in determining sales taxability. What determines if an educational activity is being carried on by one or the other organization is who keeps any net revenue or suffers any net loss from the activity. Chapter-related educational activities, then, are NOT exempt from sales tax.

Exempt Transactions

The sales tax law does exempt certain types of transactions, including expenditures for promotional materials, and attached to this memo is a copy of New York State form ST-121.2 (Exemption Certificate for Purchases of Promotional Materials), which can be given to your printers. If you have questions about this issue, please contact Chapter Relations Staff.



This agreement, dated ______________, 20______, is entered into, by, and between

_________________________________________________ (“Vendor”), with a

business office located at _____________________________________ , and the New

York State Society of Certified Public Accountants (“NYSSCPA”), a New York not-for-profit corporation, located at 14 Wall Street, New York, New York 10005.


A. Vendor is interested in providing goods or services to the NYSSCPA.

B. In so providing goods or services, Vendor may receive access to certain confidential information owned by the NYSSCPA (“Confidential Information”), which could include membership lists.

C. NYSSCPA is prepared to make the Confidential Information available to Vendor on condition that Vendor maintains the confidentiality of the information.

Section 1. Disclosure of Confidential Information

Vendor acknowledges that it or its personnel will receive disclosure of or access to the Confidential Information. For purposes of this agreement, the term Confidential Information shall not include information that: 1) is now or subsequently becomes generally available to or known by the public through no fault of Vendor, 2) Vendor had rightfully in its possession prior to obtaining it from the NYSSCPA, or 3) is independently developed or known by Vendor without the use of any Confidential Information. Vendor agrees to use reasonable care to prevent the misuse, unauthorized broadcast, disclosure, dissemination, distribution, duplication, publication, or other use of any Confidential Information.

The use of NYSSCPA Confidential Information is limited to the provision of goods or services by Vendor. The marketing of any other product or service using the Confidential Information without the prior written approval of the NYSSCPA signed by its President or Executive Director is expressly prohibited by the terms of this Confidentiality Agreement.

Section 2. Term

Vendor agrees to use the Confidential Information for a period of time ending on the earlier of the date (1) Vendor completes delivery of the goods or services it is providing to the NYSSCPA or (2) the NYSSCPA notifies Vendor that Vendor may no longer use the Confidential Information promptly after which Vendor agrees to destroy all copies (including electronic copies) of the Confidential Information then in Vendor’s possession.

Section 3. Inaccurate Information

In the event that Vendor learns that any portion of the Confidential Information is inaccurate, Vendor agrees to notify the NYSSCPA of all such inaccuracies and any corrections thereto, to the extent Vendor becomes aware of corrections.

Section 4. Notification

Notice to the NYSSCPA under this agreement shall be sent to the attention of 
Lisa Axisa, Director of Member Relations, at the above-written address for the NYSSCPA.

Section 5. Applicable Law

This Agreement is governed by the laws of the State of New York.



Print Name:________________________________________________