{"id":54460,"date":"2026-01-27T20:19:16","date_gmt":"2026-01-27T20:19:16","guid":{"rendered":"https:\/\/smps.org\/?p=54460"},"modified":"2026-02-02T14:21:34","modified_gmt":"2026-02-02T14:21:34","slug":"money-matters-january-2026","status":"publish","type":"post","link":"https:\/\/smps.org\/2026\/01\/27\/money-matters-january-2026\/","title":{"rendered":"Money Matters: January 2026"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"54460\" class=\"elementor elementor-54460\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-26be6c24 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"26be6c24\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1c186ed\" data-id=\"1c186ed\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cd88ae4 elementor-widget elementor-widget-image\" data-id=\"cd88ae4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"456\" src=\"https:\/\/smps.org\/wp-content\/uploads\/2025\/02\/FromTheBoard-1280x570-Kilbourne-1024x456.png\" class=\"attachment-large size-large wp-image-50990\" alt=\"\" srcset=\"https:\/\/smps.org\/wp-content\/uploads\/2025\/02\/FromTheBoard-1280x570-Kilbourne-1024x456.png 1024w, https:\/\/smps.org\/wp-content\/uploads\/2025\/02\/FromTheBoard-1280x570-Kilbourne-300x134.png 300w, https:\/\/smps.org\/wp-content\/uploads\/2025\/02\/FromTheBoard-1280x570-Kilbourne-768x342.png 768w, https:\/\/smps.org\/wp-content\/uploads\/2025\/02\/FromTheBoard-1280x570-Kilbourne.png 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ce4d850 elementor-widget elementor-widget-text-editor\" data-id=\"3ce4d850\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Financial Updates and Best Practices for Chapters<\/strong><\/p><p><em><strong>Overview<\/strong><\/em><\/p><p>The Society recently finished its new fiscal year. \u00a0HQ did a fantastic job this year bringing in revenue and controlling expenses. Barring any unforeseen circumstances, we will finish the year in the black with some reserves to put towards existing content, programming, and new initiatives. Amplify A|E|C and AEC.AI exceeded expectations in 2025.<\/p><p><em><strong>New Fiscal Year for Chapters and Extended Board Terms <\/strong><\/em><\/p><p>HQ transitioned to a calendar fiscal year for 2025, and chapters are transitioning in 2026. To make sure we are all on the same page, the structure is the following:<\/p><ul><li>Chapter boards starting September 1, 2025, will serve until December 31, 2026.<\/li><li>There will be a short fiscal year from September 1, 2025, to December 31, 2025.<\/li><li>Then chapters will be on a calendar fiscal year, January 1, 2026, to December 31, 2026, and stay on the calendar fiscal year going forward.<\/li><\/ul><p>Treasurers, keep an eye out for information about closing out your short fiscal year of Sep-Dec 2025. The following forms are due:<\/p><ul><li>990 Form \u2013 Due January 15<\/li><li>1099s Forms &#8211; Due January 31<\/li><\/ul><p>Kai Wright, associate director of volunteers relations at SMPS HQ, will host a treasurers meet-up in February. Date TBD.<\/p><p><em><strong>Has your Chapter Finance Committee met?<\/strong><\/em><\/p><p>The chapter Finance Committee is one of the best practices for oversight of the chapter\u2019s finances.\u00a0 There have been numerous chapters over the years that have dealt with theft and embezzlement.<\/p><p>The size of your chapter and its financial health will determine who should be on the committee and how often to meet.\u00a0 The Finance Committee should consist of the treasurer, president or president-elect, and another member. When I was a chapter treasurer, I liked to include the previous treasurer as the outside set of eyes.\u00a0 If your chapter by-laws designate the members of the committee, you should follow the by-laws.<\/p><p>A smaller, less active chapter can probably meet twice a year. Larger, more active chapters should consider meeting at least quarterly, if not every other month.<\/p><p>In your Finance Committee meetings, you should review the Income Statement (P &amp; L statement), bank statements, and program\/education reports to compare expected income\/expenses to actual income\/expenses.<\/p><p><em><strong>SMPS Foundation for Treasurers <\/strong><\/em><\/p><p>As you finalize your annual budget, consider how your chapter is giving back to the industry. Budgets aren\u2019t just numbers\u2014they reflect your priorities and the impact you want to make.<\/p><p>The <strong>SMPS Foundation<\/strong>\u00a0is one of the easiest ways to show that commitment. By including the Foundation as a line item in your budget, your chapter helps advance research, education, and industry-wide impact while also bringing value back to your members.<\/p><p><strong>Here\u2019s what your support makes possible:<\/strong><\/p><ul><li><strong>Emerging Trends Programming<\/strong>\u2013 High-quality, timely content for your members<\/li><li><strong>Scholarships &amp; Internships<\/strong>\u2013 Through our partnership with <strong>ACE Mentor<\/strong>, you\u2019re investing in the next generation of AEC leaders<\/li><li><strong>Chapter-Level Programming and its value:<\/strong><ul><li>Webinar programming ($500 value)<\/li><li>Senior leader in-person roundtable ($1,500 value)<\/li><li>Main stage\/panel programming at joint industry events (pricing varies)<\/li><li>Scholarships through the ACE Mentor network, with built-in engagement opportunities for your chapter<\/li><\/ul><\/li><\/ul><p><strong>Action Step: <\/strong>When you submit your final budget, please include a dedicated line item for the SMPS Foundation. Even a modest contribution amplifies our collective ability to give back, strengthen the profession, and elevate your chapter\u2019s programming. Together, we can make a greater impact!<\/p><p><em><strong>Best Practices for a SMPS Chapter Treasurer <\/strong><\/em><\/p><p>There are several key best practices that promote fiscal responsibility and transparency that chapters should follow:<\/p><p><strong>Core Financial Responsibilities:<\/strong><\/p><ul><li><strong>Maintain Accurate, Timely Records<\/strong> \u2013 Use re:Member (BillHighway), reconcile monthly, and retain documentation<\/li><li><strong>Prepare Regular Financial Reports<\/strong> \u2013 Share monthly\/quarterly P&amp;L, balance sheet, and budget vs. actual comparisons with your Board of Directors<\/li><li><strong>Develop and Monitor the Budget<\/strong> \u2013 Collaborate with board and committees, monitor spending, and recommend changes<\/li><\/ul><p><strong>Governance and Oversight:<\/strong><\/p><ul><li><strong>Ensure Internal Controls<\/strong> \u2013 Implement dual signatories, clear reimbursement policies, and avoid commingling funds<\/li><li><strong>Stay in Compliance<\/strong> \u2013 File IRS 990 forms, renew state registrations, and protect non-profit status<\/li><\/ul><p><strong>Strategic Role and Communication:<\/strong><\/p><ul><li><strong>Educate and Advise the Board<\/strong> \u2013 Explain financials to non-financial board members and flag concerns.<\/li><li><strong>Ensure Transparency<\/strong> \u2013 Grant board access to financials and present updates at member meetings.<\/li><\/ul><p><strong>Chapter-Specific Functions:<\/strong><\/p><ul><li><strong>Track Event and Program Finances<\/strong> \u2013 Forecast and track event budgets and break-evens<\/li><li><strong>Coordinate with HQ<\/strong> \u2013 Submit reports and align with national policies<\/li><\/ul><p><strong>Operational Best Practices:<\/strong><\/p><ul><li><strong>Maintain Financial Continuity<\/strong> \u2013 Document procedures and train successors; use chapter-specific accounts<\/li><li><strong>Leverage Technology<\/strong> \u2013 Use tools like Google Drive, Expensify, or Bill.com to streamline operations<\/li><\/ul><p><em>See you next time for Money Matters!<\/em><\/p><p>Adam Kilbourne, FSMPS, CPSM<br \/>SMPS Secretary\/Treasurer<br \/><a href=\"mailto:akilbourne@tecinceng.com\">akilbourne@tecinceng.com<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Financial Updates and Best Practices for Chapters Overview The Society recently finished its new fiscal year. \u00a0HQ did a fantastic job this year bringing in revenue and controlling expenses. Barring any unforeseen circumstances, we will finish the year in the black with some reserves to put towards existing content, programming, and new initiatives. Amplify A|E|C [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[69],"tags":[775,923],"class_list":["post-54460","post","type-post","status-publish","format-standard","hentry","category-from-the-board","tag-adam-kilbourne","tag-money-matters"],"_links":{"self":[{"href":"https:\/\/smps.org\/wp-json\/wp\/v2\/posts\/54460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smps.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smps.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smps.org\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/smps.org\/wp-json\/wp\/v2\/comments?post=54460"}],"version-history":[{"count":11,"href":"https:\/\/smps.org\/wp-json\/wp\/v2\/posts\/54460\/revisions"}],"predecessor-version":[{"id":54710,"href":"https:\/\/smps.org\/wp-json\/wp\/v2\/posts\/54460\/revisions\/54710"}],"wp:attachment":[{"href":"https:\/\/smps.org\/wp-json\/wp\/v2\/media?parent=54460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smps.org\/wp-json\/wp\/v2\/categories?post=54460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smps.org\/wp-json\/wp\/v2\/tags?post=54460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}