2014 Chapter Treasurer Orientation March 4, 2014

Chapter Treasurer Toolkit

Chapter Treasurer Toolkit

Part 1: Qualifications and Duties  Job Description  Calendar  Fiduciary Responsibility

Job Description  Maintain the chapter’s financial records  Provide the President and Board with financial information  Pay bills and collect funds owed  Manage the preparation of the budget  Prepare and file 990 or T2 forms  Ensure that state/provincial requirements for charities registration are fulfilled  Turn over to the successor all chapter records and/or property immediately upon completion of term or resignation prior to completion of term.

Treasurer Calendar

Fiduciary Responsibility to the Board  Avoid conflicts of interests  Act in the interest of the organization and the chapter members rather than in the interest of board members  Provide oversight to assure that the organization’s business is transacted legally  Make decisions to protect the assets of the nonprofit organization

Part 2: Keeping Chapter’s Books and Records  Tracking Receipts and Disbursements  Keeping Member Dues Records  Preparing Monthly or Quarterly Financials  Preparing Year-end Financials or Summary Report for Chapter Accord  Record Retention Guidelines and Checklist

Part 3: Sample Policies for Chapters  Travel Policy  Budget Policy  Financial Review/Audit Policy  Check-Writing Policy  Financial Reimbursement Policy  Investment Policy  Reserve Policy

Part 4: How to Develop and Manage the Chapter Budget  Budget Overview  Cashflow Planning  Key Cashflow Planning Steps  Sample Reports  Statement of Financial Position: Balance Sheet  Statement of Activities: Profit/Loss  Statement of Cashflows

Part 5: Tax Filing Information  US Requirements – 990 due May 15  Detail.cfm?ItemNumber= Detail.cfm?ItemNumber=2343  Canadian Requirements – T2 due June 30  arc.gc.ca/tx/bsnss/tpcs/crprtns/rtrn/ arc.gc.ca/tx/bsnss/tpcs/crprtns/rtrn/  State Filing Information  Profits/State-Links Profits/State-Links

Questions?

Thank you for all you do for AFP!