Aims and Objectives of the Training Course  To respond to an actual need for volunteers  To help clarify the purpose of the treasurer within the organization and define expectations  To provide simple working methods and tools  To help ensure continuity of the activities in favor of our young cadets  To help ensure succession in the Squadron  To standardize management of accounting information within the Squadrons

CHAIRPERSON 1 ST VICE-CHAIR SECRETARY TREASURER EXECUTIVE COMMITTEE DIRECTOR PROCESS MAP OF THE SPONSORING COMMITTEE 2 ND VICE-CHAIR

 Function of the Treasurer 1.Record on a monthly basis, money entries and disbursements in the sub- ledger, according to the chart of account 2.Put audit controls for each financing activity in place (maximize revenues and minimize losses) 3.Submit financial statements (revenues and expenses) as well as the bank reconciliation 4.File bills 5.Ensure a rigorous follow-up on cash to be received from DND

 Function of the Treasurer (continued) 6.Inform semi-annually to the Chair of the important budget variances and suggest alternatives 7.Prepare annually the budget in collaboration with the Chair and the Commanding Officer 8.Maintain the inventory of the goods belonging to the Squadron up-to-date 9.Prepare the (ACC-9) report and submit it within the period specified 10.Complete the different governmental reports (GST & Provincial Tax rebates, T3010) and submit them within the period specified 11.Emit receipts for charitable contributions for taxation purposes

 Selection criteria for the position of treasurer: 1. Attention to detail 2. Methodical 3. Rigorous in tasks to complete 4. Discreet – confidential information 5. Trusted Pre-requisites : 1. Be confident with numbers 2. The treasurer must not have had a personal bankruptcy 3. Have a good reputation in the community

Basic Notions on Accounting Cash basis accounting : Transactions are accounted for based on the entries and outgoings from the bank account. Revenues and expenses are only accounted for when they are cashed or disbursed. This accounting system is simple and has the advantage of being easy to follow.

Terminology Statement of income : Accounting report which resumes the financial situation of an entity during its financial year. The totality of the revenues and expenses are presented here. The exceeding amount of the revenues on the expenses is a profit (loss). Financial year : Period of time between Sept 1st and Aug 31st of the next year (Quebec and Ottawa Valley is July 1 st to June 30 th ) Balance sheet : State of the financial situation on a given date. The balance sheet presents the whole of the assets (what one possesses) and of the liabilities (what one owes). The total of the assets must always balance with the total of the liabilities. General ledger : Represents the whole of the accounting accounts used by the entity (see ACC-9 for more details) Sub-ledger : Revenue journal « revenue » (cash inflow) and journal of the « Expenses» (disbursements)

Terminology (continued) Petty cash: Sum of money serving to pay certain expenses such as stationery, stamps, etc… The petty cash must be regularly reconciled and must appear in the balance sheet in the end of the financial year. Each expense must be supported by a receipt. The petty cash is optional, depending on operational needs of the Squadron. (Buying office supplies, availability of the subscribers, etc.) Recommended amount is $200 per year. Inventory: Register in which one writes the whole of the Squadron’s goods. This register must contain the date of procurement of a good, a brief description, the serial number and the amount paid.