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TREASURER
ABA Job Description

 

BASIC FUNCTION
Responsible for accurately handling all of the financial transactions of the ABA and
preparing all required reports and correspondence.

 

TREASURERS QUALIFICATIONS

 

CURRENT PROCEDURES
ABA thanks for taking on this important and busy job!

A. GUIDELINES      

  1. Files are currently maintained in Quicken “Home and Business” edition. 
  2. All documentation supporting financial records is scanned into the related transaction in Quicken. 
  3. The historical records, the updated Quicken file, and all new scanned document files must be backed-up on a regular basis.
  4. There is one non-interest-bearing checking account from which all payments are made, and 3 interest-bearing savings (money market savings) accounts (ABAII, Collins Fund and Convention Emergency Reserve Fund) from which transfers are made to cover related payments.
  5. Each account has specific limits – imposed by the bank - on monthly transactions (deposits, withdrawals, cash, checks, etc.), and interest received is based on certain minimum balances being maintained.
  1. As a member of the Executive Board, anytime you receive a letter from the ABA President or other board members that needs a reply or vote, send your original reply to the President and a copy to each board member.

 

B. RECEIPTS

  1. Post to the individual account, and write receipts or acknowledge by e-mail for all money received, to the proper officer, chairman, or individual.
  2. After processing, scan all documentation for receipts, then place originals in the relevant folder for the annual audit at Convention.  Bank statements (after being scanned into Quicken “Overview” for each account) are clipped to the left folder cover, chronologically with the newest on top.  Other documentation is placed loose in the folder chronologically with the newest on top.

C. DEPOSITS AND ENDORSEMENTS

  1. Checking Account
    1. Use the pre-numbered stamp to endorse all checks going into the checking account.
    2. Fill out a deposit slip (with a duplicate or photocopy). 
    1. Twice a month, record the deposit made by the Membership Chairman.
    2. Scan & file documentation as above.
    3. Maintain only a nominal balance in the checking account.  Transfer excess funds to the ABA Savings Account to earn interest.
  1. Savings Accounts
    1. Use the “blank” deposit stamp provided, and fill in the appropriate account number.
    2. Deposit checks to the bank using the relevant deposit slips,  making a duplicate or photocopy.
    3. Post the income (or withdrawal) of money to the correct account and income (or expense) category and date.
    4. At the end of the month, upon receipt of bank statements showing interest earned, post all interest to proper accounts and corresponding interest category.
    5. On very large deposits (such as the auction) if mailing, send by certified mail.
  2. Certificate of Deposit, if any
    1. About five days before the CD matures, inform the bank of your intention:  Renew the CD or request that the dollar amount needed be placed in the appropriate account (stating the number of the account).

D. WITHDRAWALS

  1. Writing Checks
    1. Create the check in, and print it from, Quicken. All checks are paid from the checking account and transfers must be made accordingly to provide the funds.
    2. Post to relevant account and income or expense category.
  2. Paying Bills All bills are paid only with the president's authorization with the following exceptions.
    1. BUDGETED ACCOUNTS for officers and chairmen as long as they stay within their budget If they go over their budget, they must wait until the Executive Board approves the overage amount.
    2. BELL TOWER ACCOUNT as authorized by the chairman of the Bell Tower Committee.
    3. AUCTION BUYERS as authorized by the Auctioneer.  Postage for the checks to the sellers and any postage for the mailing of the auction checks to the bank should be posted as Auction expenses.
    4. INSURANCE PREMIUMS.   If premiums exceed budgeted amounts, communicate the amount and cause to the Executive Board before paying.

E. TRANSFERS

  1. Transfers can be made through Quicken’s Online Center, on the bank’s internet web site, by telephone, or at a local branch.
  2. Keep an itemized record of all expenses incurred for the operation of this office (postage, stationery, phone calls, copies, etc.). After approval of the President, write a check to reimburse the Treasurer for these expenses.

F. REPORTING REQUIREMENTS

  1. E-mail the annual report and condensed financials to the Bell Tower Editor for publication in the July/August edition.
  2. Quarterly (June 30, Sept 30, Dec 31, and March 31)
    1. Prepare (1) a Donations Received-Income and Expense Statement, (2) the Statement of Assets Liabilities, and Fund Balances, (3) a condensed detailed Actual to Budget statement, and (4) the Donations and Income/Expense report by “fund” – all with appropriate explanations for the quarter’s activities.
    2. E-mail copies of these items to each Executive Board member and the Tax Consultant.
  3. Fiscal Year End Report – due at the end of April.  Email copies to each Exec tive Board member and the Tax Consultant.
  4. When the books are closed (late April), ask the Tax Consultant to prepare the tax return and bring it to Convention for signature after the Audit is completed.

G. ROUTINE PAYMENTS

  1. Monthly
    1. Pay the internet web site invoice by the end of the first week of each month.
  2. Bi-Monthly – August, October, December, February, April, June
    1. Ensure a week or two before The Bell Tower Editor and the printer are to be paid that there is enough money in the checking account to cover these checks. Transfer finds as needed.
    2. During the last week, for the upcoming Bell Tower issue, pay The Bell Tower Editor and printer after receiving the approval and printer’s invoice from the Bell Tower Committee Chair, taking the discount offered.   

 

 

 

H. MONTH BY MONTH INSTRUCTIONS
Monthly (tasks to be completed each month)

  1. When money comes in, e-mail a receipt to the appropriate person.
  2. Post all receipts/withdrawals to the appropriate accounts. Make deposits. Make a duplicate (or photocopy) of all deposit and withdrawal slips. When banking by mail, allow 8-10 days to get receipts back from the bank.
  3. Membership Coordinator e-mails dues and Bell Tower deposit reports to the Treasurer. Check to see that posting is correct, verify the amount, allocate the funds to the relevant categories. Send acknowledgement to the Membership Coordinator.
  4. Check to see if any CDs are coming due and make the necessary decision as to roll over or withdraw some or all of the money.
  5. Transfer excess funds from checking to savings as needed.
  6. Reconcile checking & savings account bank statement.
  7. Scan all statements into Quicken.
  8. Reconcile the bank statement in Quicken (except for the 3/31 statement; see April procedures). and post any interest to the corresponding income category

1. July

  1. At Convention, sign Tax Form 990 received from the Tax Consultant who will mail the return.  File the copy received.
  2. Deposit auction proceeds and pay auction sellers (and sales tax, if needed).
  3. Pay the annual bond insurance premium.

2. August

  1. Pay the annual general liability insurance premium.
  2. During the last week, pay the Bell Tower Editor and Printer for the upcoming Bell Tower issue.

3. September

  1. 30th, Follow quarterly instructions

4. October

  1. During the last week, pay the Bell Tower Editor and Printer for the upcoming Bell Tower issue.

5. November

 

6. December

  1. During the last week, pay the Bell Tower Editor and Printer for the upcoming Bell Tower issue.
  2. Follow quarterly instructions
  3. Order Forms 1099 and 1096 from the IRS.

7. January

  1. Fill out Forms 1099 Miscellaneous and 1096 for the Bell Tower Editor's fee for the previous calendar year. Send Editor's copies to him/her and the IRS copies to the appropriate IRS Office.
  2. Make copies of 1096 and send to the ABA Tax Consultant.

8. February

  1. About February 15th, e-mail a reminder to all officers and committee chairmen that their expense reports and receipts need to be sent to the Treasurer by March 31st.
  2. During the last week, pay the Bell Tower Editor and Printer for the upcoming Bell Tower issue.
  3. Notify the Convention Treasurer that the fees for the Bell Tower Editor will be paid in April.  Notify these individuals to mail in their registration forms before the discount deadline.

9. March

  1. Follow quarterly instructions
  2. Ask all officers and committee chairman for their budget estimates for the coming year.
  3. Depreciate all equipment per Depreciation Schedule. Each new item must have its own Depreciation Schedule.
  4. Post all interest to the proper accounts and interest categories.
  5. Send checks to all officers and chairmen that need to have expenses reimbursed, and ask them to cash the checks before the end of the month. Any expenses submitted by officers or chairmen that are above the budgeted amount must be approved by the Executive Board.  E-mail the Board for approval, so the amounts can be included in the current fiscal year. Write those checks after approved
  6. Pay all bills as early in the month as possible.

10. April

  1. Pay the Convention registration fee for the Bell Tower Editor.
  2. Pay the Membership Coordinator’s annual allotment.
  3. Do NOT reconcile the March 31 bank statements until after all closing procedures have been completed, verified, and final reports printed.
  4. Close the fiscal year books on April 25.
  5. Ask the Tax Consultant to prepare the tax return to bring it to Convention for signature after the Audit is completed.
  6. Record Pre-Paid items (remaining bond premium and liability premium) as a credit on 3/31 for the amounts remaining for these items.  Do NOT treat as pre-paid the Bell Tower Editors fee or the printer’s fee for the April portion of the March/April issue.
  7. Handle outstanding checks as if cleared, and do NOT handle them as Cash In Transit.
  8. Print draft reports and review them carefully.  Make adjustments as needed.
  9. Write the Treasurer’s Report and create the condensed Donations Received-Income/Expense Statement and Statement of Assets, Liabilities and Fund Balances.  E-mail them to the Bell Tower Editor for publication in the July/August issue.
  10. Print final versions of the following reports. Put them into the Treasurer’s notebook, and e-mail copies of them to the Tax Consultant for preparation of the tax return and to the Executive Board.
    1. Treasurer’s Report with condensed Donations Received-Income/Expense Statement and Statement of Assets, Liabilities and Fund Balances.
    2. Explanation of significant items.
    3. Actual-to-Budget (full detail).
    4. Cash Flow 2-Year Comparison.
  11. Additional reports are created by exporting figures from Quicken (to text) and importing them into Excel for the spreadsheets in Historical File, Account Balances 2-Yr., and Donations/Income/Expense by Fund.  Reformat and then print those reports.  The total at the end of each of these reports should match the net income for the year.
  12. Print the Quicken Transactions report for the entire year, sorted by account and by date.  Export each to Excel spreadsheet.  E-mail these reports to the Audit Committee chairman, along with the financial reports.
  13. Make reversing entries (4/1 debit Pre-Paid expenses). If there were any Cash In Transit items, move the entry to the proper account; do NOT make an offsetting entry.  Reconcile the 3/31 bank statements. 
  14. During the last week, pay the Bell Tower Editor and Printer for the upcoming Bell Tower issue.

11. May

  1. By the middle of May, send copies of the PROPOSED BUDGET to each member of the Budget Committee. (Note: the membership directory is produced every third year.) It is helpful to type an explanation to go along with the budget as to why and how the amounts on each item of the budget were determined. This should help the other committee members decide if the budget meets with their approval. Ask them to look over the budget and send their approval or disapproval on it by June 1st.
  2. Ask the First Vice President for a list of all incoming Board and committee chairs/appointees.  Write the budget allocation letters, leaving the amount blank.  Put these in the “For Convention” folder.

12. June

  1. About June 1st, get new signature cards and a Corporate Resolution from the bank for all accounts (checking, savings, and CD), and complete them. Write a Letter of Authorization indicating signatories to be added and removed. Put all of these in the “For Convention” folder.  Take them to the Convention for new officers to sign (President, First Vice President, and Treasurer; and Secretary to attest), and the Letter of Authorization to be notarized.  Ask the three signatories to bring to Convention (or send to you) a copy of their driver’s license for submission to the bank with the forms.
  2. Make any changes, if necessary, to the proposed budget.  Email it to the Recording Secretary.  Prepare enough copies to take to Convention for each member of the Executive Board and the Budget Committee.
  3. Follow quarterly instructions
  4. During the last week, pay the Bell Tower Editor and Printer for the upcoming Bell Tower issue.
  5. The June Quarterly Statement needs to be completed as close to the start of the Convention as possible as it is presented to the Executive Board. It is also needed for the audit performed at the Convention.  Prepare all of the same financial reports and transactions report as for the fiscal year end, for the Board and for the Audit Committee.

 

I. TAKE TO CONVENTION

  1. A list of all accounts and documents  (cd's) for the auditors
  2. All canceled checks, bank statements. check register, passbooks, cd's. Everything that the auditors need to audit the aba books during convention.
  3. All files and books from April 1st of the previous year through the present time. 
  4. blank checks, posting books, deposit stamps, at least 4 deposit tickets, etc. -
  5. Letters for each Officer and committee chairman to tell them how much has been allocated for them in the budget.
  6. Receipt signed by President for blank checks.  Receipt to be signed by incoming President when in receipt of blank checks.
  7. Tax Return to be signed after the audit

If a new Treasurer is taking office:

  1. Take all "old" treasury records (boxed) if you and the new Treasurer are driving. Otherwise, send these to the new Treasurer after Convention. Submit your postage expense bill to the new Treasurer for reimbursement. This should be charged to Treasurer's expenses.
  2. Download the Quicken ABA file, and a copy of all of the scanned document files in the ABA Quicken
  3. A list of all accounts and documents, and for you and the new treasurer to check-off and show that all passbooks, cd's and records are being turned over to the new treasurer.
  4. Motion Book, if a new Treasurer is taking over.

 

J. AT CONVENTION
General

  1. Attend all meetings of the Corporation, the Executive Board.
  2. Give the checking account deposit stamp to the Auctioneer.
  3. Obtain unused blank checks from outgoing President & get signed receipt
  4. Provide blank checks to incoming President & get signed receipt
  5. Send new signature cards, Letter of Authorization, notarized Corporate Resolution, and copies of the driver’s license for each signatory to the bank. (see June procedures)
  6. Don’t forget to enjoy the convention and have some fun!

Budget

  1. Present the proposed budget to the Executive Board at the first board meeting. Be prepared to answer questions.
  2. If there are any changes, pencil them in and take to the Budget Committee members for approval.
  3. As Chair of the Budget Committee, hold a meeting (in person, by phone or by email) to finalize the proposed budget, including any changes suggested at the Executive Board meeting.   If changes are approved, prepare a final version, and make sufficient copies to provide to every attendee at the Business Meeting.
  4. Ask someone to hand out copies to people as they arrive for the Business Meeting.  Present approved budget and offer needed explanations.  Entertain questions.  The President will ask for motion to approve. 
  5. Fill in approved budget allocations and give allocation letters to all board members and budget committee members. (Suggestion: ask all board, appointees and committee chairs to retrieve budget allocation letters at the end of the business meeting).

Audit

  1. Help set up documents for the Audit Committee.  You may not need to be present for the actual audit but should be immediately available to answer any questions the committee has.
  2. After the audit, shred (in the hotel’s Business Center) all of the supporting documents (because everything previously was scanned into the computer file).
  3. After the Audit report presented at the Business Meeting, meet with the Tax Consultant and sign the tax return.  Obtain a copy for the files.

Auction Information

  1. Prior to the final luncheon, the Auctioneer will provide documentation and financial instruments (cash and checks) supporting the auction, and
  2. Receive the deposit stamp from the Autioneer. 
  3. Cash proceeds are given to the Convention Treasurer in exchange for a check payable to ABA. 
  4. The ABA Treasurer receives
    1. all auction proceeds,
    2. slips showing how much goes to each Seller,
    3. envelopes addressed and stamped for each Seller,
    4. the accounting of transactions,
    5. sales tax collected (if any),
    6. receipts for auction expenses
    7. receipt of payment for foreign sellers (theyare paid in cash by the Auctioneer). 
  5. Within two weeks send payment to sellers,
  6. Pay the sales tax to the state (if any).

    

Convention Checklist:

All ABA Position Instructions (officers, appointments, coordinators and committee chairs):
Review your Job Description and send any updates or note of ‘no changes’ to the Job Description Coordinator towards the end of your annual term.
Remit to Treasurer all expenses, with receipts by the end of fiscal year, March 31st.  Committees, whose budgets are large, remit expenses with receipts for payment periodically.
Prepare an annual report for your position and email/mail the report to the Secretary no later than one month before convention.
If a Discussion Form is sent to you by the Secretary, complete and return by email no later than one month before convention.

Important information for name and logo copyrights:
In any print communications there must be the use of the trademarks for the name and logo for ABA.
The first time the organization’s name appears it must be capitalized with the registered trademark following.  THE AMERICAN BELL ASSOCIATION®. 
For the registered trademark: ctrl+alt+r will work on most keyboards.  ®
The name of The Bell Towersm must have a superscript sm after it. 
The sm superscript can be made by clicking the superscript icon in your word processing program sm.
The logo must be the official logo of ABA with the registered trademark.