Treasurer
Constitutional/Bylaw Official Documentation
The responsibilities for this position shall be as follows:
Receive all monies, from the secretary and otherwise, and deposit the same in a bank or banks recommended by the finance committee and approved by the board of directors.
Arrange for issuance, in cooperation with the secretary, quarterly or semi-annual statements to each member for dues and other financial obligations owed to this club and report payments to the Board of Directors.
Pay out monies in payment of club obligations only on authority given by the board of directors.
Have custody and keep and maintain general records of club receipts and disbursements.
Prepare and submit monthly and semi-annual financial reports to the board of directors of this club.
Give bond for the faithful discharge of their office in such sum and with such surety as determined by the board of directors.
Deliver, in a timely manner, at the conclusion of their term in office, the financial accounts, funds and records of the club to their successor in office.
Serves as chairperson for the finance committee.
Duties
Maintain Civic & Charity checking account # xxx1268 this is a general ledger account where most deposits for the club are made
2 signatures required for all checks written from this account. The club has three members that can countersign all checks. The president, the treasurer, and secretary. Optionally, the deputy treasurer can be a signer.
Maintain Civic & Charity money market account # xxx8397. This account holds swimming pool operating funds, Tennis Court renovation funds and Band shell construction funds.
Maintain the swimming pool checking account # xxx0377. All swimming pool income and expenses go through this account. The pool manager sends employee hours to Swensen & Co. They prepare the payroll for the employees and the club treasurer prepares the checks.
The Treasurer and the pool managers or alternate both sign all checks. The payment of all state and federal taxes are automatically withdrawn from this account so the treasurer must be sure enough funds are in this checking account when funds are withdrawn. Usually on June 15th, July 15th, August 15th and September 15th. When funds are needed in this account they are transferred from the civic & charity money market account #1002008397.
Maintain the Administrative checking Account # xxx1292.
Member dues ($70.00 per year) and $2.00/ member are deposited in this account. The $2.00 per member is transferred from petty cash (50/50) at the beginning of each year. This is done to delay dues increases as long as possible. The treasurer only needs to sign checks to pay Lions International and District dues.
Maintain the Old Savings Account # xxx8428. This account holds various funds as needed to keep seperate. These include Kids In Culture, Easter egg hunt bike funds, picnic shelter funds and Thanksgiving Day dinner funds. Funds can be deposited directly into this savings account and if any funds are withdrawn they are transferred to the Civic and Charity checking account # xxx1268 and disbursed from this account with 2 signatures required.
Maintain D.P. Fabric certificate of deposit # xxx9583. This CD was created when Lion D.P. Fabric donated $5,000.00 to the club with the restriction that only the interest can be used for club purposes. The club also owns 3 other certificates of deposit. These are set up so that one of the CDs mature each year.
These deposits are earmarked for capital purchases and are # xxx2278, # xxx7632, and # xxx2709. These funds can be used only for equipment purchases with a life of more than 7 years.
Maintain the Capital purchases money market account # xxx7969. These are funds that were left over after the new swimming pool construction was completed. In addition, all sales of bricks and tiles, all donations for the pool and all memorials designated for the pool are deposited in this account. The funds are for purchases of capital purchases of equipment with a life of more than 7 years.
The club has a budget of $2,000.00 per year to be used to make donations and charity. Donations are kept track of in this area so that the donation budget is not exceeded.
The treasurer maintains records of income and expenses for each club project. 990 filing purposes as our tax return must include the income expenses and net income or loss for each project.
These include the Thanksgiving day dinner, Golf tournament, Trip of the Month, community birthday calendar, garage sale (If needed), Bingo night and the gun raffle.
All of the bank accounts are balanced each month.
The treasurer works with the club's accountant to get all of the financial information together to prepared for the annual 990 filing.
The treasurer prepares a new financial statement quarterly to be reviewed by the club Board of Directors. The Directors prefer a current financial statement, The financial statement from the previous quarter and a financial statement for the same quarter one year ago.
The treasurer prepares annual financial information for the swimming pool operations to be reviewed with the Choteau City Council.
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