Fulfilling the Duties of the Office

BY WAYNE REYNOLDS, TREASURER

As I prepare this column, I am completing my seventh term as VVA’s National Treasurer. I am delighted to report that our finances and organization are healthy and secure. As your Treasurer, I focus on budgetary management and effective communication, which is critical to our success.

Cross Department Collaboration: I communicate with the Accounting Department and all of VVA to align cash flow, budgeting, and financial strategies with our goals.

Reporting to Others: My reports are frequent and are delivered by phone, in person, text, and email with my fellow officers, the Board of Directors, and the Finance Committee. This is done to update funding plans and explain financial data with clear, understandable reports. My columns in The VVA Veteran report to you — our membership — what I am doing.

Policy and Compliance Communication: My efforts to ensure financial policies, controls, and regulatory requirements are sent to all in VVA for compliance, and I am open and available to all.

Investor Relations: I am engaged with our investment manager to discuss liquidity, capital structure, and financial health, and prepare reports and presentations to the Board Finance Committee and membership.

Vendors and Partners: I serve as the Contract Compliance Officer and communicate with suppliers and partners about payment terms, cash flow schedules, and financial agreements.

Crisis Communication: As we faced financial challenges, I formulated a plan to continue funding chapters and state councils through Revenue Sharing. My oversight has developed a reserve fund to assure liquidity regardless of what is voted on at the Convention on VVA’s future. Our cash reserve is sufficient to allow us many options for future years.

As Treasurer, I oversee VVA’s financial operations, focusing on having funds on hand, fulfilling our obligations, and planning for our future. Key responsibilities include:

Cash and Liquidity Management: Ensuring sufficient cash flow for operations, managing short-term investments, and forecasting cash needs.

Risk Management: Limiting risks such as market fluctuations and interest rate changes. We have come through the recent market downturn without losses.

Planning and Analysis: Overseeing budgeting, forecasting, and financial reporting to align with approved strategies. Our budgets are now adopted in January, and we are meeting our revenue and expense projections.

I work closely with VVA President Jack McManus and other leaders to align financial strategy with VVA’s goals, balancing investments and risks. Our use of technology enhances our efficiency and improves decision-making.

Transparent Cash Flow Reporting: I have a regular schedule to review projected cash payments to make on-time payments. I promptly inform the Finance Committee and board, presenting a clear forecast and proposing options. This transparency enables proactive measures, avoiding a liquidity crisis.

Disclosing Financial Risks: During a volatile market period, I have avoided exposure to market fluctuations and guarded our assets. I have communicated the risk to leadership and recommended strategies, ensuring the corporation is prepared rather than caught off guard.

These examples show how my performance as VVA Treasurer has been thorough in reporting, budget management, support for VVA at all levels, and communication. My efforts have been to ensure trust, compliance, and sound decision-making. As always, I ask for your advice and suggestions.

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