I’m just a volunteer….why finance?? Amanda M. Morris January 13, 2015 General Membership Meeting.

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Presentation transcript:

I’m just a volunteer….why finance?? Amanda M. Morris January 13, 2015 General Membership Meeting

Non-profit status Accountability IRS/Audits Use of financial statements when applying for grants Community

Finance Council Treasurer (member of Board) Treasurer-Elect Fund Development Chair (member of Board) Fund Development Chair-Elect Annual Campaign Chair Grant Research & Writing Chair Character Breakfast Chair Bookin’ It Chair Touch A Truck Chair Special Events Treasurer Member-at-Large

Council Process Committees  Chairs  Finance Council  Board Considers and adopts financial policies for the League Discusses plans for Special Events, including projected income and expected expenses Provides updates on work of committees Treasurer serves as liaison to the Board Fund Development Chair also reports to Board

Examples of Financial Policies Procedures for writing and signing checks Procedures for signing contracts that bind the JLM

Budgets Income vs. Expenses

Income Dues and SETC (Special Event Ticket Commitment) Annual Campaign Grants Fundraisers/Special Events Other projects/fundraising opportunities

Expenses In-League Relations Community Impact Projects Operating Expenses

GOAL: End of the year = $0.00

Working within a budget Project attendance/number of tickets that can be sold Plan for expenses at the lowest possible cost to the League Ensure that once all expenses are accounted for, the income from ticket sales will exceed the expenses far enough to meet the projected income Tickets sold = $4,000 Expenses = $1,500 Net profit/income to the League = $2,500

GOAL: End of the year = $0.00

Spend the minimum, not the maximum Work together Be flexible Remember that just because “the budget” says you have money to spend does not necessarily mean that you have money to spend

Always keep the best interests of the League in mind Remember our mission Commit to being a part of the financial accountability for the League