V. Guidelines for Treasurer[SLK1]

 

A.            Following election/installation, confer with outgoing Treasurer to discuss responsibilities of the office and arrange for transfer of records and other materials.

(ASAP, no later than August 31)

B.            Arrange with a convenient bank to handle the Association’s account.  This may include transferring the account from one bank to another, or simply changing the signature card and mailing address with the existing account. The Treasurer should be the primary signer, but another trusted member should be established as an alternate signer. (ASAP, no later than August 31)

C.            Income (dues, registration, sponsor donations, etc.) should be deposited as soon as possible upon receipt.

D.            Expenses

1.            TESA funds should only be spent as authorized by the annual budget.  Consult the Executive Committee as soon any budget line begins to appear inadequate for expected expenses.

2.            Require appropriate documentation (receipts, invoices, etc.) before paying expenses or reimbursing members/officers for TESA Expenses.

3.            In the event the Treasurer needs to be reimbursed for expenses, the alternate signer should review the expense and sign the check.

 

E.            Keep accurate records of the Association’s financial activities and report appropriately.

1.            Maintain account balances and transaction record in Quicken or comparable software that allows for ease of summarizing income and expenses.

2.            Provide a Treasurer’s report for all membership and board meetings and as requested by the board.  The report should include:

(i)            Current Account balances, interest rates, & maturity dates.

(ii)            Year-to-date income and expense summary by category relative to the current budget.

(iii)            It is also helpful to provide a recent history (suggested 5 years) of annual income and expenses.

(iv)            Current paid membership count (along with a suggested 5 year history).

 

3.            Obtain and keep receipts for disbursements and issue receipts for income, as appropriate.

4.            Hard copy records are not necessary.  Maintain electronic records (scan or PDF) of all bank statements, reconciliation reports, income/expense documentation, treasurer reports, and other records as appropriate in an orderly file structure.

5.            Maintain an adequate backup of all financial records and Quicken files.

 

(i)            On an ongoing basis, maintain a backup on a separate computer, external hard drive, and/or flash drive and store in secure location.

(ii)            Upon transferring annual files to Audit committee for review, also send a copy to the Historian to keep with Association historical records

(iii)            Request Audit committee keep copy of annual records reviewed for additional backup.

 

F.            Submit to Audit Committee all files and records of the most recent year. (include all items in E.4. as well as a complete transactions list and a year-end Treasurer’s report)

(Submit by January 31)

G.            Submit online the IRS Form 990-N (See past forms for website/instructions)

The actual IRS deadline is a few months past the end of the year, but this should be done in January so Audit Committee can verify.

                 H.            Work with Membership Chairman to solicit, record, and collect membership dues.

I.            Work with the President-Elect to promote the annual meeting and to record & collect annual meeting registration payments.

J.            Membership Records

1.            Maintain computerized data base of Extension specialists with contact information and record of dues paid.  Keep a current list of paid members posted on the Association website.  Chapter Directors and Membership Chair can access the list to determine dues status of individual members.

2.            Upon request, provide email list of current paid members for the purpose of voting, elections, and other membership communications.

3.            Update Membership Dues Form for the next year, and make available on the Association website.

(Complete by winter board meeting) 

K.            The Treasurer often serves as the Financial Committee Chairman.

See guidelines for Financial Committee.