Department of Alabama THE CHAPTER TREASURER We raise funds and maintain our non-profit status responsibly…

Department of Alabama TREASURER RESPONSIBILITIES  Responsible for the duties related to  income,  disbursement,  investment,  documentation and  reporting of all Chapter funds  maintaining a property asset value listing  IAW Chapter, Department and National Constitution and Bylaws

Department of Alabama INCOME Income is derived from various sources and how it is documented and how it is reported depends on its source and intent.  Per Capita Dues from National:  Deposited in July and January  May be used for general Chapter expenses  Document on the Income Ledger and monthly report if required  Fund Raisers  Approval by Department Ways and Means if proposed net >$  Department Adjutant notified 30 days prior for all others  Document income and expenses for each

Department of Alabama INCOME  Forget-Me-Not Drive  may be put into the General Fund Checking Account but  all the monies generated are used directly for Veterans Aid  funds may not be used for General Chapter Expenses.  Drawings funds from meetings can be deposited into  the Van Fund Account or  into the General Fund  funds are from any other source can be deposited into the General Fund Account and used for Chapter expenses  All income and its source must be documented on the Income Ledger

Department of Alabama INCOME  General Cash Donations  unsolicited funds may be deposited into General Fund  grants from corporate sources may be deposited into General Fund but used for the specific purpose for which given (i.e. Van Program, etc.).  Other Events  List income and expenses on separate sub-ledgers  May be used for General Fund purposes  Real Property  Ask Department Treasurer how to handle it  Must insure you abide by any DAV National or Department regulations

Department of Alabama DISBURSEMENTS (EXPENSES)  All Disbursements  paid by check.  documented on the expense ledger  signed by two (2) individuals, treasurer and one other  must be substantiated by documentation (receipts)  documented on the expense ledger under the appropriate category  reported on the monthly report  Office Expenses  all expenses relating to the operation of the Chapter Office  documented on expense ledger

Department of Alabama. DISBURSEMENTS  Needy Veterans  Funds expended for the direct welfare or morale of Veterans and/or their families.  Donations  is broad in scope and covers most expenses not already covered  may be made for events, projects, convention book ads and any other causes beneficial to a Veteran or family member of a Veteran  can also be made to another Veterans group  entered into the expense ledger and reported on the monthly report

Department of Alabama ADDITIONAL DISBURSEMENTS & ITEMS  DAV Auxiliary  an expense/disbursement and documented on all reports  grant/transfer is approved by the Chapter  the Auxiliary is required to maintain a set of books and may be inspected by an authorized authority  used for the health and welfare projects, convention expenses and other efforts by the Auxiliary to further the cause of Veteran assistance  subject to the requirements set forth in the DAV National Constitution and Bylaws in reference to funds on hand just as the DAV Chapter

Department of Alabama ADDITIONAL DISBURSEMENTS & ITEMS  Documentation: DAV National highly recommends that the accounting books/ledgers, etc., be maintained in compliance with recognized accounting procedures; that is to say clear ledgers for income and expenses that are fully documented and all transactions are traceable. To maintain the Chapter tax-exempt status, it is imperative that these standards are maintained. All incomes and disbursements should have supporting documents on file to substantiate the action.

Department of Alabama ADDITIONAL DISBURSEMENTS & ITEMS  Files  maintained at the preference of the Treasurer  may be topical, periodic or some other method, up to the Treasurer  Each method has its advantages and disadvantages  based on his or her ability to explain and track Chapter fund transactions

Department of Alabama  Monthly Report  provided to the Chapter reflecting the status of the Chapter’s finances. should accurately report previous balances, income and disbursements and ending balances.  should highlight significant events or plans regarding Chapter finances  should match previous report balances and accurately report ledger transactions.  DAV Department and National Reports: Based on a year to year basis, this report is due within ninety (90) days after the close of the Chapter accounting year ending 30 June. Specific line by line instructions are provided by National either on the form, or by an explanatory letter. Outcome accounting will generate this report. It is highly recommended that new Treasurers familiarize themselves with this report and adjust their accounting procedures accordingly. ADDITIONAL DISBURSEMENTS & ITEMS

Department of Alabama  IRS Reporting  gross income >$25, file either IRS Form 990 or 990EZ with the IRS  a new Treasurer should familiarize themselves with past submissions  gross income of <$25, per file the e-Postcard  due no later than the 15 th of November after the close of the reporting year on 30 June  Filing procedures have been posted on the IRS web site. All Chapter Treasurers should check the IRS web site at ADDITIONAL DISBURSEMENTS & ITEMS

Department of Alabama  Review/Audit  chapter audit committee is required to review/audit the Chapter finances  committee, of three non-elected Chapter members, is required to review all transactions and reports of the Treasurer  all reports/transactions must be substantiated  a committee review form, if required, with the findings must be completed and filed on the completion of the Chapter audit  report to the Chapter will be given by the Audit Committee Chairperson at the next Chapter meeting ADDITIONAL DISBURSEMENTS & ITEMS

Department of Alabama  Asset Value (Chapter Inventory)  Treasurer must maintain a listing of all physical assets belonging to the Chapter.  at least annually, the Treasurer must assess the physical property as to present value  Increases and decreases in net worth will be reported ADDITIONAL DISBURSEMENTS & ITEMS

Department of Alabama.. The Treasurer will also supervise the Fundraising Committee & the Logistics Manager.  If this presentation has answered all your questions pertaining to the many duties and responsibilities of being a Chapter Treasurer it has fulfilled its purpose. If you still have questions on this subject, seek out a former Treasurer in your Chapter or contact the Department Treasurer for guidance SUMMARY