1. ENA Chapter Treasurer DUTIES AND RESPONSIBILITIES

2. Expectations of the Chapter Treasurer 1. Maintain accuracy in accounting 2. Budget planning 3. Collect and maintain records for tax purposes

3. Chapter Banking Wells Fargo-  On Line Banking/ direct deposit  Signature Cards should be up dated yearly  When available, reconcile your check book to the monthly statement. MN State Council Treasurer has access to all the chapter banking accounts.

4. Budget Planning 1. Estimate expenses and income for the year. 2. A reflection of your chapters priorities for the near future. 3. A budget grants the treasurer authority to disburse money up to the budgeted amount. Amendments to the budget  Required to disburse any funds that exceed the budgeted amount.

5. ENA Fiscal Year The ENA Fiscal year starts February 1 st and ends January 31 st Budget planning evolves around these dates. This is different than the tax year that starts January 1 st and ends December 31 st.

6. Important Deadlines  January 1 st - W9 information due to State Treasurer( slide 5 )  February 1 st : Tax information due to State Treasurer(slides 8-9-10)  November: Budget for your chapter should be approved based on chapter by laws and procedures.

7. W9 Requirements  W9 is an IRS form used to collect social security numbers and addresses for the purpose of distribution of 1099 forms.  W9 form should be completed by anyone that is compensated for services provided to your chapter i.e. a paid speaker for a conference or TNCC instructor.  Speaker or instructor should not be paid unless W9 collected.  W9 forms can be down loaded from the IRS website. The form is also available on the MN State Council website.

8. W9 Requirements continued  Track total amounts paid to each speaker of instructor.  Any person with total payments of $600 or more, must be issued a 1099 by the IRS.  State Treasurer will not know who needs a 1099. Each chapter must submit these names and subsequent/ W9 form to the State Treasurer by January 1 st.  W9s can be batched together then forwarded to the state treasurer.

9. Further uses of W9 form  Vendors may request a tax ID number from your chapter if they are paying your chapter to set up a booth at a conference.  All chapters are covered by the MN State Council Tax Identification Number.  This W9 form for vendors is also available on the MN State Council website or by contacting the MN State Council Treasurer.

10. TAX Preparation Each Chapter should provide a financial summary each year to the state treasurer. This can be in narrative form and include the following: Beginning checkbook/CD balances + total income - - total Expenses = ending checkbook/CD balances

11. TAX Preparation continued Each chapter should reconcile any checking and investment accounts to the respective bank statements and provide a copy of the reconciliation for tax year.(Excel format). The State Council Treasurer will download the monthly bank statements for the accountant so this does not need to be done by each chapter.

12. TAX Preparation continued  Each chapter should provide a detailed summary of the expenses and description of the expenses. Excel format is preferred.  Each chapter should provide a detailed summary of the receipts and description of the revenues. Excel format preferred. A sample Excel template is available that can be revised to meet your needs. This can be obtained from the State Treasurer.

13. Record Keeping  Require a completed reimbursement form and receipts before reimbursing a member for any expenses they have incurred on behalf of the association.  Keep bank statements for three years  Records due to be destroyed should be shredded with a cross-cut shredder.

14. FORMS  Available on MN State Council Website or from State Council Treasurer 1. Reimbursement Form- Use for per diem payments 2. Delegate Disclosure Form 3. W9/Instructor – lecturer 4. W9/Vendor 5. Chapter Cash Template – excel 6. Sample Checking register