Treasurer

Function: As stipulated in the SPNHC Bylaws:

ARTICLE VI. OFFICERS

Section 1.
Executive Officers. The executive officers shall be the President, the Past President, the President-Elect, the Secretary, the Treasurer, and the Managing Editor of the Society’s publications. Executive officers are required to be Regular, Honorary, or Life members in good standing.

Section 4.
The Treasurer. The Treasurer shall be responsible for all monies and valuable effects in the name and to the credit of the Society, for full and accurate accounting of receipts and disbursements in books belonging to the Society, and for maintaining a current list of members. The Treasurer shall have signatory powers and shall disburse the funds of the Society as may be ordered by Council. The Treasurer shall render to the President and Council at the Annual Business Meetings of the general membership, or when Council so requires, an account of the financial transactions and status of the Society. The Treasurer shall be appointed by the President with the approval of a majority of the Council members.

Section 9.
…
The Treasurer … shall be appointed for a two-year term, repeatable consecutively unlimited times.

Duties

The Treasurer also serves as a member of the Membership Committee.

Major tasks

  1. Financial management: process the payment and sending of invoices, record all monies received and spent monthly in QuickBooks, prepare budgets, assemble documents for annual financial review and tax return. Provide timely finance reports to the Executive upon request.
  2. Membership applications and renewals: Process dues via PayPal and checks, update membership database for renewals by check 
  3. Administration and Reporting: Send a copy of the annual financial review to the Archives Committee, prepare budgets and Report of the Treasurer for inclusion in the Annual Business Meeting (ABM) package, present budgets and Treasurer’s Report to Council and members annually.

Calendar items

October 15: Send out a call for membership renewal to all current year members. Compile a list of current members from the database. Save this original list; it will be the basis from which subsequent reminders can be sent to those who have not yet renewed.

January 7: Commence the preparation of documents requested by the accountant for the annual financial review and tax return. An example of the checklist of documents requested is included in Appendix 1.

February 15: Late fee for regular membership renewal commences

April 1: Commence the preparation of documents requested by the Secretary for inclusion in the ABM package. A checklist of items required is included in Appendix 2.

May 1: Commence the preparation of all additional documents to be presented to Council and at the ABM at the annual meeting. Checklists are included in Appendices 3 and 4.

Reviewed by Linda S. Ford and Laura Abraczinskas, 20 September 2019
Reviewed by Linda S. Ford and Laura Abraczinskas, 17 November 2018
Revised by Ruth O’Leary and Barbara Thiers, 16 November 2018
Revised by Ruth O’Leary, July 2013, July 2017
Reviewed by Jean-Marc Gagnon, July 2013

Example Checklist of documents to prepare for Annual Financial Review

List of items needed for Review of Financial Year 2012

  1. Copy of all Board, Council and Business Meeting Minutes for 2012.
  2. E-mail copy of QB file. If that is not possible, provide copy of QB generated comparative Balance Sheet, P&L and General Ledger for 2012.
  3. Copy of December 2012 bank reconciliation for operating account, reconciling the balance per bank statement to the amount in the general ledger. Please send a copy of the December 2012 and January 2013 bank statements.
  4. Copy of any CD statements showing current value at December 31, 2012 reconciled to the general ledger. If that is not available, send the most current statement from the bank that you have.
  5. Copy of the December 2012 brokerage account statement reconciled to the general ledger.
  6. Schedule of inventory at December 31, 2012 reconciled from the physical inventory count to the general ledger. Schedule should include # of units, cost per unit to derive inventory value. Sales per TB account #s 4202 – 4276 should be reconciled to quarterly sales reports. See attached schedule for format.
  7. Schedule of accounts receivable, if any, at December 31, 2012 with uncollectible accounts noted.
  8. Schedule of prepaid expenses, if any, at December 31, 2012 along with copy of supporting invoices.
  9. Schedule of deferred dues income at December 31, 2012.
  10. Schedule of accounts payable at December 31, 2012 (include schedule of  expenses not paid until 2013 and not accounted for in accounts payable). Also include any expenses you are aware of for which an invoice has not yet been received.
  11. Schedule of changes to Temporarily Restricted Assets at December 31, 2012. (i.e. did the donations from the LOC received in 2010 to be used for future Meeting Travel Fund expenses get used in 2012? Or is there still an unused amount to be carried forward for use in 2013? See attached information from the prior year workpapers.
  12. Copy of your actual to budget spreadsheet for the year ending December 31, 2012.
  13. Name and address of all contributors over $5,000 in 2012.
  14. Name and address for all board members as of December 31, 2012.
  15. Copy of By-law changes, if any.

Checklist of items to be sent to the Secretary for preparation of the ABM package

    1. Copy of the draft Financial Review sent by accountant (the final review is not usually ready by the date the documents for the ABM are sent in)
    2. List of Donors as of date of preparation for current year and previous year
    3. List of new memberships received in prior year, by category
    4. List of new memberships received in current year, by category, as of date of preparation
    5. Report of the Treasurer
    6. Final budget for prior year
    7. Amended budget for current year, as of date of preparation

Appendix 3

Checklist of items to be presented to Council at Annual Meeting

  1. Membership lists: yet-to-pay members, new regular members, library and subscribers, associate members and life members. Both lists should be returned to the Treasurer at the end of the Council meeting
  2. A summary of the Report of the Treasurer
  3. 25 copies of the proposed version of the current year budget (this proposed budget was approved at the previous year’s annual meeting) and 25 copies of the revised current year budget.
  4. 25 copies of next year’s proposed budget

Appendix 4

Checklist of items to be presented to Members at ABM

  1. Report of the Treasurer
  2. Revised current year budget