FINANCIAL MATTERS RON FERRILL, DISTRICT TREASURER 2012 PETS

FINANCIAL MATTERS CLUBS IN D7570 NEED TO TEND TO FINANCIAL REQUIREMENTS

WHY SHOULD A CLUB PRESIDENT HAVE TO WORRY ABOUT SUCH MATTERS? “There is a Treasurer who takes care of all financial details”, but Club President is ultimately responsible for all matters in the club – to assure that all matters are handled properly and in a timely manner

TWO AREAS OF FOCUS Rotary International District 7570

ROTARY INTERNATIONAL Semi-Annual Dues (i.e. twice a year – every six months) Components (2010 MOP RI Bylaws art. 17) :  Dues > $26.00 per member  Rotarian Magazine > $6.00 per member  Liability Insurance > variable rate for clubs $0.11 per member for Martinsville RC  Council on Legislation fee >  $1 per member per year, payable July 1

ROTARY INTERNATIONAL Other considerations  Membership as of June 1 & December 1  Payments due July 1 & January 1  Methods to pay:  Invoice mailed to club secretary, develop worksheet, mail in worksheet with check, or  Go to (member access)  assure accuracy of roll  review invoice  Pay on line by credit card  Print invoice and mail, with check

DISTRICT 7570 One payment > $23 per member plus $35 per club for database/website maintenance fee No connection with RI Semi Annual Dues

DISTRICT 7570 Procedure:  Membership as of September 30  Invoice to club Treasurers by November 1 (Pmail) – copy to Presidents  Payment due December 1  If payment not received by January 1, 5% penalty added  Auto debit option available

ROTARY DISTRICT 7570 ENROLLMENT OF CLUBS IN ELECTRONIC DUES PAYMENTS CLUB INSTRUCTIONS: 1. OBTAIN “AUTHORIZATION TO COLLECT DUES VIA ELECTRONIC DEBIT” FORM AND COMPLETE. 2. PRESENT TO THE CLUB BOARD OF DIRECTORS FOR APPROVAL. 3. PRESIDENT AND TREASURER MUST COMPLETE AND SIGN “AUTHORIZATION TO COLLECT DUES VIA ELECTRONIC DEBIT” FORM. 4. ATTACH A “VOIDED” CHECK OR DEPOSIT TICKET TO THE COMPLETED “AUTHORIZATION TO COLLECT DUES VIA ELECTRONIC DEBIT” FORM. 5. MAIL OR COMPLETED “AUTHORIZATION TO COLLECT DUES VIA ELECTRONIC DEBIT” FORM AND “VOIDED” CHECK OR DEPOSIT TICKET TO THE DISTRICT TREASURER: RON FERRILL 917 HUNTING RIDGE ROAD TREASURER – DISTRICT 7570 MARTINSVILLE, VA

6. CLUB TREASURER TO MAINTAIN A COPY OF “AUTHORIZATION TO COLLECT DUES VIA ELECTRONIC DEBIT” FORM FOR CLUB FILES. 7. CLUB TO MAKE CERTAIN FUNDS ARE IN ACCOUNT TO BE ELECTRONICALLY DEBITED ON OR BEFORE DECEMBER 1 ST. 8. “AUTHORIZATION TO COLLECT DUES VIA ELECTRONIC DEBIT” WILL REMAIN IN FORCE UNTIL CLUB RESCINDS THE AUTHORIZATION. 9. NEW “AUTHORIZATION TO COLLECT DUES VIA ELECTRONIC DEBIT” FORM MUST BE COMPLETED WHENEVER CLUB CHANGES BANK ACCOUNTS. 10. CLUB TREASURER MUST INFORM DISTRICT TREASURER WHENEVER BANKING ACCOUNTS CHANGE. DISTRICT RESPONSIBILITY: 11. SEND CLUB PRESIDENT AND CLUB TREASURER ANNUAL INVOICE FOR CLUB DUES IN OCTOBER. 12. SEND NOTIFICATIONS TO CLUB PRESIDENT AND TREASURER WHEN ELECTRONIC DEBIT WILL BE CHARGED TO THE CLUB’S BANK ACCOUNT. 13. EXECUTE ELECTRONIC DEBITS TO CLUBS’ BANK ACCOUNTS VIA DISTRICT’S BANKING ORGANIZATION. 14. FOLLOW UP WITH CLUBS THAT HAVE INSUFFICIENT FUNDS TO COVER ELECTRONIC DEBIT.

ROTARY DISTRICT 7570 AUTHORIZATION TO COLLECT DUES VIA ELECTRONIC DEBIT 1. AUTHORIZATION. ROTARY CLUB OF ____________________ (CLUB) HEREBY AUTHORIZES ROTARY DISTRICT 7570 TO CHARGE ACCOUNT NO.______________ (“ACCOUNT”) FOR ALL PAYMENTS DUE ON CLUB’S ACCOUNT WITH DISTRICT (“OBLIGATION”) UNTIL SUCH TIME THE OBLIGATION IS PAID IN FULL, OR CLUB PROVIDES DISTRICT WITH A WRITTEN NOTICE OF CANCELLATION OF CLUB’S AUTHORIZATION PURSUANT TO PARAGRAPH NOTIFICATION OF ELECTRONIC DEDUCTION. DISTRICT WILL ELECTRONICALLY NOTIFY ( ) THE CLUB PRESIDENT AND TREASURER CLUB 30 DAYS IN ADVANCE OF OBLIGATION TO BE DEDUCTED FROM ACCOUNT. AN INVOICE WILL ACCOMPANY THE PROVIDING DETAIL OF THE OBLIGATION. THE WILL CONTAIN THE DATE AND AMOUNT OF THE ELECTRONIC DEDUCTION OF THE OBLIGATION. 3. PAYMENT DUE DATE/INSUFFICIENT FUNDS. IF THE OBLIGATION DUE DATE FALLS ON A DATE THAT DISTRICT’S BANK DOES NOT POST PAYMENTS, THE OBLIGATION WILL BE DEDUCTED ON THE NEXT BUSINESS DAY THAT DISTRICT’S BANK PROCESS PAYMENTS. CLUB AGREES THAT IF THE ACCOUNT DOES NOT HAVE SUFFICIENT FUNDS ON THE DAY THAT THE DISTRICT ATTEMPTS TO DEDUCT THE OBLIGATION, DISTRICT, IN ITS SOLE DISCRETION, SHALL DETERMINE WHETHER OR NOT A DEDUCTION SHALL BE MADE. DISTRICT MAY ATTEMPT, BUT SHALL HAVE NO FURTHER OBLIGATION TO CONTINUE TO ATTEMPT TO DEDUCT THE OBLIGATION FROM THE ACCOUNT. UNTIL SUCH TIME THAT OBLIGATION IS PAID IN FULL, THE CLUB SHALL BE RESPONSIBLE TO SATISFY SUCH OBLIGATION, AND ALL OTHER AMOUNTS THAT MAY BE DUE ON THE OBLIGATION (LATE FEES). DISTRICT MAY, BUT SHALL NOT BE REQUIRED TO TAKE INTO ACCOUNT IF THERE ARE SUFFICIENT FUNDS AVAILABLE TO SATISFY THE OBLIGATION FROM THE ACCOUNT. 4. CANCELLATION. CLUB OR DISTRICT MAY CANCEL THIS AUTHORIZATION AT ANY TIME BY DELIVERING A WRITTEN NOTICE TO THE OTHER PARTY. IN THE EVENT CLUB DESIRES TO CANCEL THIS AUTHORIZATION, CLUB SHALL PROVIDE DISTRICT WITH A WRITTEN NOTICE AT LEAST 60 DAYS PRIOR TO THE NEXT SCHEDULED PAYMENT. PREAUTHORIZED ELECTRONIC FUNDS TRANSFER AGREEMENT DESIGNATED ACCOUNT TO BE DEBITED:____ SAVINGS____ CHECKING _________________________________/____________________________/__________________ FINANCIAL INSTITUTION NAME 9 DIGIT ROUTING TRANSITACCOUNT NUMBER THE UNDERSIGNED CLUB ACKNOWLEDGES AND AGREES TO THE DISTRICT’S AUTHORIZATION TO COLLECT DUES VIA ELECTRONIC DEBIT AND THE TERMS AND CONDITIONS CONTAINED HEREIN WHICH ARE HEREBY INCORPORATED INTO THIS AGREEMENT. ROTARY CLUB OF ____________________________ PRESIDENT SIGNATURE _____________________________ TREASURER SIGNATURE_____________________________ PLEASE ATTACH VOIDED CHECK TO VERIFY BANK ROUTING AND TRANSIT INFORMATION. BORROWER ACKNOWLEDGES THAT BORROWER HAS READ, UNDERSTANDS, AND AGREES TO THE TERMS AND CONDITIONS OF THIS AUTHORIZATION. BORROWER ACKNOWLEDGES RECEIPT OF AN EXACT COPY OF THIS AUTHORIZATION. RETURN SIGNED ORIGINAL TO ROTARY DISTRICT 7570 TREASURER, RON FERRILL TO: FINANCIAL INSTITUTION DESIGNATED ABOVE: YOU ARE HEREBY NOTIFIED THAT ROTARY DISTRICT 7570 HAS BEEN AUTHORIZED AND DIRECTED TO DEBIT THE ABOVE-LISTED ACCOUNT. IF THIS WRITTEN AUTHORIZATION IS RECEIVED BY YOU AS A COPY OR FACSIMILE OF THIS AGREEMENT, YOU ARE HEREBY HELD HARMLESS FROM ALL SUITS, CLAIMS, AND DAMAGES YOU MAY INCUR BY FOLLOWING THE INSTRUCTION CONTAINED HEREIN.

CLUB ENROLLMENT TO DATE RichlandsBuchanan Wytheville MorningBluefield Bristol MorningClarke County Floyd CountyJohnson City Rocky MountWoodstock Greeneville MorningStrasburg

QUESTIONS?.