Maintains the financial records of the Chapter including management of the account(s) to obtain the best interest rates available, pay all invoices in a timely manner and keep accurate records of income and withdrawals. Follows MLA Chapter Business Guidelines (http://www.mlanet.org/chapters/cbg.html).
The Chapter's financial records are to be kept on Quicken.
Rents a post office box or obtains other mailing address separate from the employee's institution for receipt of PNC correspondence and checks to insure that they are received by the Treasurer, and not someone else in their employing institution.
Stays abreast of any changes that might affect the Chapter's tax exempt, incorporation and reporting status, in consultation with the MLA Business Manager. Provides information as needed to IRS, accountant or others as designated.
Observes year-to-year trends in revenue and expenses to forecast future shortfalls or surpluses. Advises Executive Board of organization's financial health and works with the Board on long-range strategies to manage finances.
Prepares annual budget, in cooperation with the Chair, before submission for approval to the Executive Board before the Spring Board Meeting. Forwards a copy of the approved budget to the Webpage editor to publish on the chapter website.
Prepares and presents a financial report for the Annual Business meeting, the Executive Board meetings and others as requested by Chair.
Receives and keeps a record of membership dues payments and send dues acknowledgments. Send new member or renewal forms (or equivalents) to Membership Secretary at least once a month.
Survey Monkey procedure: As with all other invoices, pay SurveyMonkey invoices on a regular basis. Notify the rest of the PNC Board members about any additional Survey Monkey invoices occurring due to exceeding the limit of responses. In January of each year, create new password and disseminate to current, paid (for new calendar year) members.
Attends all Executive Board meetings.
Attends appropriate MLA functions for Chapter Treasurers, if attending MLA.
Periodically appoint a person, a member or other qualified person, to conduct an independent review (audit) of financial records. (Ideally, this should occur at least every two years and upon transfer of office). The review should include looking at the past year's bank statements, budgets, and financial reports to determine if:
- Cash and checks are deposited promptly into the Chapter's bank account(s);
- Timely bank reconciliations are conducted;
- Paid expense reports and invoices have the proper authorizations and account numbers, and none are unpaid or paid twice;
- All disbursements and pre-numbered checks are recorded;
- Totals for the checking account and the financial statement agree; and
- Recorded balances in financial statements are compared with budgeted amounts periodically and unusual relationships investigated and explained to chapter officers.
At end of term, instructs new Treasurer on procedures.
(updated February 2006)