Revised November, 2007

4-H Treasurer’s

Book

____________________ Year

____________________ County

____________________ Name of Group/Club

Instructions to the Treasurer’s The 4-H group placed upon you the responsibility of keeping the financial records. For any group to make wise decisions regarding the use of the money it has earned, members need to know the financial status of their group. Each 4-H group must require at least the youth treasurer and two adult leaders' names to be signers on the signatory card at the bank unless the bank will not allow a youth as a signer. The checking account should be set up so that all checks require two signatures, youth treasurer and adult leader, unless an individual or a firm is hired, then only one signature is required. Neither adult leader may be the treasurer’s parent or guardian. The 4-H year runs from October 1 to September 30. Duties of the Treasurer’s 1. Attend the officers training session when it is held. 2. Keep all financial records in a 3-ring notebook. 3. Keep an accurate financial record of…

• All money received, including dues—showing the source of the money and the date received.

• All money paid out—showing to whom the money was paid, what it was paid for and the date of payment.

• Write receipt when needed. 4. Do not keep 4-H money at home. Deposit all money as

soon as it is received in a checking account in a local bank. Stamp all checks for “deposit only” as soon as they are received.

5. Never mix 4-H money with your own. Never “borrow”

from the group’s money. 6. Give the treasurer’s report of money received, bills

paid and ending balance at each meeting when called upon by the president or chair for checking and savings accounts, including investments and endowments.

7. All expenses must have either prior budget approval or

be approved by a motion at a group meeting as specified by the by-laws before being paid. Annual budget and motions must be recorded in the group secretary’s report.

8. Pay money owed only by check from the group’s treasurer.

9. Retain receipts and canceled checks including

transaction forms on file, covering all payments for five years. These become part of the clubs historical files.

10. The treasurers are responsible for the 4-H funds until

the successors are elected. At the end of each 4-H year, the financial record must be reviewed/audited. The groups leader or a committee assists the treasurer in preparing for the review/audit. A review/auditing committee will check the records before they are turned over to the successors. Give complete, accurate records to the successors at the end of the year.

11. Complete the “Annual 4-H Group Financial Report”,

have the 4-H group approve it and submit it to the Regional Extension office with the charter application.

12. Additional information on handling finances can be

found in the “Stewardship of Minnesota 4-H Youth Development” materials located in the county office. Materials include: fiscal responsibilities, investments, budgeting/reporting, income generation forms (to be used in fundraising efforts), accepting non-cash donations, reviews/audits and tax information.

Checks 1. All bills must be paid by check. 2. Always have a written bill, invoice, statement or receipt

that creates as paper trail before writing the check. All expenses must have either prior budget approval or be approved by a motion at a group meeting.

3. Use ink. 4. Never erase a mistake. If a mistake is made, write

“VOID” on the spoiled check and start a new one. Keep and file the voided check, don’t destroy it.

5. Be sure there are enough funds in the checking account

to cover the checks written. 6. Never sign an incomplete or blank check. 7. Safeguard blank checks. If any are lost or stolen, notify

the bank to stop payment. 8. Reconcile the bank statement each month.

Writing the Check 1. Write the name on the check. 2. Start writing the name of the person or business to

whom the check is payable as close to the “pay to the order of” as possible.

3. Leave as little space as possible when filling in any of

the lines on a blank check. This helps prevent someone else from changing a $1 check, for example, into a $100 or $1000 check.

4. Begin writing the amount at the extreme left of the

amount line. Be sure the written amount agrees with the numbered amount.

5. Checks require two authorized signatures. The two

treasurers of your group. 6. Record the date of payment and the check number on

the bill, attach the bill, invoice or receipt to the transaction form. Keep a copy of each paid bill with permanent records.

Example of a check.

Receipts • When the treasurer receives cash a receipt must always

be written. The treasurer may be asked to write a receipt when you receive a check. The receipt should include the amount, what the funds were for and the date. Always include the name of the person the money was received from.

• Without a receipt or cancelled check there is no

way to prove that the 4-H group received a specific amount of money or that the funds were handled correctly.

Receipts for Group Activities or Fundraisers • Before the money is turned over to the treasurer two

people should count the money and agree on the amount.

• The treasurer should verify the amount (recount the

money) in the presence of the people who turned the money in and write a receipt for the total amount.

• The treasurer then prepares the deposit slip for the

funds received. Example of a receipt.

Bank Deposits Keep these things in mind when making deposits:

• Deposit all funds promptly. • Never hold back cash from deposits to pay

bills. • Use deposit slips provided by the bank. • If someone writes a check payable to an

individual that is intended for the 4-H group, endorse it by writing “For Deposit Only” and the 4-H group’s name.

Preparing Deposits Follow these steps when filling out a deposit ticket or slip. 1. Date the deposit slip. 2. Fill in the amount of currency (bills) and coins you are

depositing. 3. List each check number and its amount separately. 4. Add the amounts of currency, coins and checks for the

TOTAL deposit. 5. Record the deposit in the checking/savings account

register. Example of a deposit:

Approval and Payment of Bills 1. A transaction form is used when a request for payment is made. 2. Payment requests that are in the budget or approved by the group need to be paid by check. 3. Write a check for the approved amount for each bill. 4. After you write a check, attach the invoice, bill or receipt to the transaction form.

Examples of two transaction forms: NOTE: These are only examples, if your group is using a similar form that includes this information, continue to do so.

Maintaining the Check Register In the checking account register, record the checks written and deposits made. To keep the 4-H group’s check register up to date, follow these steps. 1. Write the check number and the date it was written in

the appropriate columns. 2. In the “description of payment or deposit” column,

write to whom the check was made payable and for what payment was made. Make sure these amounts match those on the transaction form.

3. Enter the check amount in the “payment/debit” column.

Subtract the check amount from the remaining balance on the line above and enter the new balance.

Example of a check register.

4. Record the amount of deposits in the “deposit/credit”

column. In the “description” column write the source of the funds. Add the deposit amount to the account balance form the line above. Save all deposit slips and attach them to the transaction form.

5. Use the “√ (check mark) column” at the end of each

month to check off the checks and deposits that have cleared the bank (this information comes from the bank statement).

6. The “fee (if any)” column is the place to list any fees

that bank has charged the group. 7. Be sure to balance (reconcile) the check register with

the bank statement on a monthly basis. This is the responsibility of both the adult and youth treasurer.

NOTE: The pages following are available for download as MS-Word documents allowing information to be entered with a computer.

www.mn4h.org/downloads/#club

The Financial Ledger The Financial Ledger is used to help keep the financial records up-to-date. Begin the ledger sheet with the ending balance from last year’s ledger. Record the check number, date, who was paid and for what, the amount and the balance for each payment. For receipts record the date, who submitted the funds and for what purpose, the amount of money received and the adjusted balance. Use one line for each transaction. Check # Date Received from whom for what, or

Paid to whom for what Payments $

Receipts $

Balance $

Balance at beginning of year

Duplicate this page as needed. Updated October 2007

Dues/Fees Form Use this form to record any fees/dues collected from members. This information would also be recorded in the monthly treasurer’s report, the financial ledger and the transaction forms. Annual dues per member $_____________

Name Amount Paid Date

October 2007

November 2007

Treasurer’s Report at a Club/Group Meeting

The club/group treasurer must inform the 4-H club/group of all financial actions taken. This is reported regularly at the club/committee/group meeting. If the treasurer can not be at the meeting, the report should be provided to the officers or leader who should present it to the club. Without a treasurer’s report, the club/group may not be able to take action. It is recommended that this format be followed: Current date _____________________________________

1. Balance at last report ______________________________

2. Money deposited _________________________________ (Source of dollars: example dues received/fundraising dollars or donations received.)

Source Amount Purpose a. b. c. d.

3. Money paid out ____________________________________ (Who received what amount and for what.)

Source Amount Purpose a.

b. c. d.

4. Balance today ______________________________________ The balance is recorded in the Secretary’s minutes, along with any corrections. The President then asks that the report be filed for audit. Additional Information If the group has had a recent fundraiser, and the money hasn’t been turned in, it would be appropriate to indicate that there will be income coming in from this source. It isn’t added into the report as dollars received until it is actually received.

Anticipated income __________________________________ If the group has had a recent event, but the expenses have not yet been turned in, it would be appropriate to indicate that there will be expenses coming.

Anticipated expenses _________________________________

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Month ______________

4-H Group Treasurer Bank Statement Reconciliation

Closing Balance: _______________ (Amount listed on bank statement) List all deposits made since ending date on statement: _______________ _______________ _______________ _______________ Total Deposit (add closing balance + all deposits made): ______________(a) Checks written that are not listed on the bank statement: Check Number Amount of Check _____________ _______________

_____________ _______________

_____________ _______________

_____________ _______________

_____________ _______________

_____________ _______________

Total amount of checks not listed: ______________(b)

Checkbook Balance - subtract total checks not listed (b) from total deposits (a) listed above: (a) - (b) = (c) _____________(c) The amount listed in box (c) should be the actual amount listed in the club checking account. If this amount does not match the amount in the checkbook, consider the following:

• Recheck all additions and subtractions or corrections made. • Verify the carryover balance from page to page in the check register. • Make sure service fees or miscellaneous charges have been subtracted from your check

register balance. (This might be a fee for ordering new checks, etc.) Treasurer Signature _______________________________ Date ______________ Adult Signature ___________________________________ Date ______________

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www.extension.umn.edu Updated November, 2007

Financial Transactions Form {Sample request form for financial transactions} Committee Name/Requester: __________________________________________ Date: ____________ INCOME Description/Event

Amount

Check #

Cash

Income Total: List checks separately. Attach detail list if necessary.

DISBURSEMENTS Payable to

Description/Event

Amount

(Treasurer use) Check #

Disbursements Total: Attach Original receipts. Attach detail list if necessary.

TRANSFER Committee Name

Reason for Transfer

Amount

From or To

Authorized Financial Secretary _______________________________________ ** If you want checks mailed, attach a stamped, addressed envelope to this form. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Federation/Leader’s Council Treasurer ______________________________________ Date Received _________________ Budget approved expense: Yes / No Original to County 4-H Treasurer, keep copy for your records.

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Financial Transactions Form {Sample request form for financial transactions} Date Paid:

Check Number: From Checking From Money Market County 4-H Group Income and Expense Form

Address:

Phone: Fax:

Date Submitted:

Vendor: Invoice:

Address:

Phone:

Category/Project Area: Subcategory/project account:

Check payable to (if different than vendor – please explain):

Address:

Quantity Description Deposit Expense

Attach the original receipt or invoice to this voucher TOTAL:

_____________________________________ ____________________________________ (Signature of person submitting form) (4-H Coordinator/Extension Staff)

_____________________________________ ____________________________________ (Treasurer’s Signature) (Co-signer of check)

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www.extension.umn.edu September 2006

September 2006/updated November 2007

Annual 4-H Group Budget and

Financial Report

What Is It? The Annual 4-H Group Budget and Financial Report sums up the 4-H group’s financial activities during the program year (October 1 to September 30). Why Is It Important? The Minnesota 4-H Youth Development program is part of University of Minnesota Extension and on the federal level the United States Department of Agriculture. It is essential that all 4-H groups effectively manage public funds raised as part of their activities. Public reporting shows good fiscal management and stewardship of all funds raised or expended in the name of 4-H. This report is important because it: • Is a means by which 4-H groups, as a part of University of Minnesota Extension, help the

University fulfill its obligation of fiscal accountability to the residents of Minnesota. • Fulfills the review/audit concerns of the University of Minnesota. • Creates an open, auditable, public record of whether a group is required to remit Minnesota

sales tax. • Provides the auditable record of the group to be used when completing the appropriate Internal

Revenue Service (IRS) Form 990, 990EZ or 990N (e-file). • Completes a federal requirement for financial accounting by 4-H groups. Who Must Complete It? All 4-H groups must complete and file a copy of this report if they handle any money during the year. When to Complete the Form: The form is completed twice during the year. The first time is at the beginning of the 4-H year (October 1) showing the proposed budget for the current year. The second time is at the end of the 4-H year (September 30) showing all actual income and expenditures for the current year. The proposed budget is for the next 4-H year. Where to file the form: • The original is sent to the regional office. • One copy should be kept in the treasurer’s book/records as a part of the 4-hH club Charter

application. • One copy should be filed a the county extension office. NOTE: 4-H Federation/Leader’s Council may choose to attach their own budget form as long as it includes past year proposed, past year actual and the new year proposed budget amounts. All other information on the “Annual 4-H Group Financial Report” form must be completed and turned in along with the group’s own budget form.

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Instructions for Completing the Annual 4-H Group Budget & Financial Report Form.

The Annual 4-H Group Budget and Financial Report Form is the road map or plan for the 4-H group’s income generation and spending for the year. It is NOT good fiscal management to not have a financial plan in place. This document takes you through the parts of the Annual 4-H Group Budget & Financial Report Form and the times when the report is completed. Front page: First lines This covers information about your individual 4-H Group. Fill in the information requested including dates covered by the report, your group’s name and EIN. List your group’s goals and anticipated financial needs for the upcoming 4-H year. Budget Note the three columns. The first (A) is the proposed budget for the year. (These amounts are transferred from Column C on the past years Annual Group Budget and Financial Report Form.) The second column (B) is for the actual amounts taken in and spent for the year and is filled out at the end of the 4-H year. The third column (C) will also be filled out at the end of the year and is the proposed budget for the new year. These amounts are transferred to a new form at the beginning of the new 4-H year. Remember, the budget may be set by the entire 4-H group or a subcommittee (who then present the proposed budget to the entire group for approval). Either way, it is discussed and voted for approval by the entire group. It is not the sole responsibility of the Club Leader. The group’s treasurer should be a part of this group. Expenses for items that fall under the accepted proposed budget can be paid without action from the entire group provided it is requested with the appropriate transaction form and receipts are attached. It the expenditure is not included in the adopted budget, the bill must come before the 4-H group for approval to pay. Ideally, a proposal to purchase the items should be approved by the group before the purchase is made. Columns Let’s review the Columns:

Column A is the proposed budget for the year. It is the amounts of money your group thinks they will raise or spend in the year. Column B is the actual income from all sources and the spending for the year. This is

completed at the close of the current 4-H year. It is the final summary of actual spending. Column C is the proposed budget for the new 4-H year. Use the amounts in the actual column (Column B) to set the proposed budget for the new year. Remember, this proposed budget must be approved/adopted by the entire 4-H group.

Categories The budget is made up of Income and Expense categories and what they include.

A. The following are found under Income: Beginning Balance – this is brought forward from the end of previous year and is

the actual amount.

Membership Fees/Dues – monies collected from the members are summarized on this line.

Fundraisers – this includes monies raised as a result of the groups fundraising. Could include candy sales, calendar sales, bake sales, car washes, etc. They are identified and listed individually on these lines.

Solicited Gifts/Donations – monies that your group receives that they have requested. It is monies that the group seeks out grants or donations/contributions received from businesses or individuals. Monies from award sponsors that you have requested payment for would go on this line.

Unsolicited Gifts/Donations – monies given to your group that you didn’t seek out. It might be a donation from the local United Way.

Grants – monies received from grant applications. This is money that you have sought out, where a financial report is required as part of the final report.

Activity/participation fees – monies that is collected but is then paid out. These are monies that are collected from individuals and then one check is written from the group’s treasury to pay the fee.

Other – this category includes any income dollars that were not included under one of the above categories.

Total Income is the addition of all of the above monies, including the Beginning Balance.

B. The following are found under Expenses:

Meeting Expenses –monies paid out for meetings. It could include the rental fee for room space or food that the group buys for meetings.

Awards and Recognition- monies paid out for group awards and/or recognition items. An example might be the cost of Birthday cards for club members or gift item for retiring group leader.

Recreation –monies paid out for recreational events. Examples might be bowling fees for group members on bowling night, cost of softballs for softball practice or member tickets for a local play.

Scholarships (events/activities) – monies paid out that are the groups share of the cost for selected events/activities. An example would be the groups share of the cost for members who attend 4-H camp. It is the amount the group is going to pay for the individuals who go to camp.

Community Service –monies paid out for supplies for Community Pride projects or cost of gift for the Sharing Tree.

4-H Promotion – monies paid out for group promotion. It might include costs of give-away items for Get Green Night and/or the cost of a newspaper ad inviting community people to attend an event sponsored by the 4-H group.

Other – listed here would be the expenses that do not fall under any of the above categories.

Total Expenses is the addition of all of the above dollars spent.

C. Ending Balance is the subtraction of the total expenses from the total income. The ending balance in Column B is the amount carried forward for the proposed budget (Column C) for the new year.

Back Page: Proposed Fundraisers for next year The amount needed to fund raise to meet the group’s budget goals is the amount of money the club must raise to maintain an operating balance for the new year. It is monies needed to cover the expenses of projects listed on page 1 that are not covered by the beginning balance, dues or donations. The next section is where you list the fundraisers that the club plans on conducting, when it will be done and who is taking responsibility for organizing it. Don’t forget to send in your Fundraiser Approval Form before you do any fundraising. Savings/Investments Here is where the 4-H Group’s Savings and Investment Accounts (Endowments, CD’s, Savings Accounts) are accounted for. You need to include the name and address of the Financial Institution, the account number, the end of the year balance and the purpose of the account. (examples might be one-year operating reserve or new recreation equipment). If your interest isn’t automatically added to the principle of the account, the interest should show up under “other income” in the budget. Signatures and group’s approval of report Upon completion of this report at the end of the year, the group treasurer, president and adult leader must sign the report, verifying it’s accuracy. This is done once the entire report is given at a group meeting to be approved by the group. The group’s financial records for the past year must be Reviewed/Audited by someone other than the treasurers or treasurers’ families, or the club leader or club leaders’ family. When necessary, corrections need to be made and the review or audit will reflect those changes. The audit committee then signs off on the form verifying it’s accuracy or changes. The completed and signed form is then turned in with your 4-H Charter Application. This is due by November 1. It is then reviewed & signed by the Program Coordinator or Regional Educator. If any of the above information is missing from the Annual 4-H Group Budget and Financial Report is missing, it will be returned to the group leader and the Charter process will be delayed. NOTE: For Federations/Leaders Councils, you may attached a computer printout of your end of year report in place of Column B. All other information on the form must be completed.

September 2006/updated November, 2007

Annual 4-H Group Budget and

Financial Report Form

4-H Group Name ___________________________ Year __________ EIN Number ____________ Checking Account Number ____________________ Financial Institution ____________________ Briefly list your group’s goals and anticipated financial needs for the 4-H year_________________ ____________________________________________________________________________________ ____________________________________________________________________________________ Definitions: -Proposed - this is what you plan to earn and spend -Actual - this is what you really earned and spent A B C*** Current Actual income/ Proposed Budget for Expense for budget for Income Ending year Ending year new year Beginning Balance $__________ ___________ ____________ Membership fees/dues __________ ___________ ____________ Fundraiser(s) __________ ___________ ____________ 1.____________________ __________ ___________ ____________ 2.____________________ __________ ___________ ____________ 3.____________________ __________ ___________ ____________ Solicited Gifts/Donations/ __________ ___________ ____________ *Activity/participation fees __________ ___________ ____________ Unsolicited Gifts/Donations __________ ___________ ____________ Grants__________________ __________ ___________ ____________ Other___________________ __________ ___________ ____________ Total Income $__________ ___________ ____________ Expenses Meeting Expenses $__________ ___________ ____________ Awards and Recognition __________ ___________ ____________ Recreation __________ ___________ ____________ Scholarships (Events/Activities or Educational) __________ ___________ ____________ Community Service (Project, Donation) __________ ___________ ____________ *Activity/participation pass through fees __________ ___________ ____________ 4-H Promotion __________ ___________ ____________ Other________________ __________ ___________ ____________ Other________________ __________ ___________ ____________ Other________________ __________ ___________ ____________ Total Expenses __________ ___________ ____________

**Ending Balance $__________ ___________ ____________

*Activity/participation fees are dollars that simply pass through the account (ex. Lock-ins, camp, etc.) **Total income minus total expenses - Remember, this amount is your beginning balance for the proposed budget for the new year.

***the proposed budget, column C, are the figures transferred to Column A and become the current budget.

September 2006/updated November, 2007

Proposed fundraisers for next year Amount needed to raise to meet group’s budget goals $________________ What fundraisers does the group plan to carry out to reach these goals?

1. _____________________________________________________________________________

2. _____________________________________________________________________________

3. _____________________________________________________________________________

4. _____________________________________________________________________________

Please remember fundraising plans must be approved by the REE or designee. Be sure to seek approval before the group begins significant planning; submit the 4-H Fundraising Application form. Remember: Keep good records including receipts, income, expenses, deposits, etc. Savings/Investments/4-H Endowments Financial Institution Account Number Ending Balance Purpose of Account Address & City ___________________________ _______________ ______________ _________________

___________________________ _______________ ______________ _________________

Upon completion of this report, obtain the following signatures: ______________________________________ ______________ (Treasurer) (date) ______________________________________ ______________ (President) (date) ______________________________________ ______________ (Adult Leader) (date) Approved by Group on: __________________ Received and reviewed by University of Minnesota Staff (date) Program Coordinator: _______________________________ Regional Educator: __________________________________ Reviewed/Audited by:____________________________________ Date: _______________________ Phone Number______________________________ Return this form to your Regional Extension educator or designee with the Charter application prior to November 1.

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