gary brendzel, cpa district 5300 budget/finance chair 2013-14 gbrendzel@gmail@aol
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District 5300 Assembly April 20, 2013 Training the Rotary Club Treasurer. Gary Brendzel, CPA DISTRICT 5300 Budget/Finance Chair 2013-14 gbrendzel@[email protected]. Club Treasurer. Valuable part of club leadership team - PowerPoint PPT PresentationTRANSCRIPT
Gary Brendzel, CPADISTRICT 5300 Budget/Finance Chair
2013-14gbrendzel@[email protected]
District 5300 AssemblyApril 20, 2013
Training the RotaryClub Treasurer
Club Treasurer Valuable part of club leadership team Often holds office for more than one year to
provide continuity. 3 to 5 year term recommended
Assists president and board in financial management and other matters as requested
Manages the Finances of the Club Coordinates the preparation and management of
the budgets Collects dues and payments from club members Pays dues to the District & R.I. Oversees financial transactions of club Reports regularly on the financial status to the club
board of directors Files necessary tax returns
Files information statement with state
Secretary of State (if club is a corporation)
Reviews prior years Obtains input from directors Works with the president to draft two budgets
(Operations and Charity) Presents budgets to board Obtains approval Submits copies of the budgets to the Governor
before the start of the Rotary year
Prepares Budgets
[email protected]@gmail.com
Presidents Advance: $500 – estimate (registration, room
and meals) District Assembly: $300 (for your club
team) PETS: $610 – estimate
(spouse $300) District Conference: ($600 approximate)
Allowance for club president and
hospitality expenses
District Items to Include in the Club’s Operations Budget
RI Convention: Allowance for club president-elect or
president
PR/Foundation & Membership Training Seminar: $25 per person BODTS: $25 per person
District Items to Include in the Club’s Operations Budget
RYLA: $300 per student (even number)
TLC: $300 per student (even number)
Interact Symposium: $180 per person – estimate (minimum of 3)
Dan Stover Music: $275 Entry Fee 4 Way Speech Contest: $275 Entry Fee
George Hensel Essay Contest: No Charge GSE: Special costs that might
be incurred for hosting
District Items to Include in the Club’s Charity Budget
Monitors the Budgets Budgets serve as a spending limit and revenue
guide. Present to board the comparisons between
budget and actual. Obtain formal budget revisions as necessary.
Hold semi-annual reviews. Solve any budget crisis.
Develop a System
The club should operate with a
financial record keeping system
in accordance with approved
accounting practices.
Ask the Experts for Help
Ask for advice from a certified public accountant (from within your club, community or other Rotary club) or other long-time experienced accountant about:
Basic record keeping systems and procedures which are correctly planned
Implementing a system of checks and balances (internal controls)
Ways to prevent the possibility of fraud and abuse
About computer or software systems
Software Can Help
Accounting systems can be purchased. Some common ones are:
Quicken Quickbooks Peachtree DACdb
Establish a Banking Relationship Your club will need one or more banking
accounts for the deposit of funds and payment of expenses.
In most cases, these are opened by the club, and require signatures of two officers for significant expenditures.
Collecting Dues and Payments
Dues, meal payments, and other collections are part of the job.
Establish a collection system and involve the secretary or another person.
Set up a billing system – be prompt and send reminders.
Rotarians often are not prompt payers – be firm but flexible.
Collecting Dues and Payments (Cont)
Process paymentsWeekly – usuallyObtain vouchers signed by committee chair
and/or appropriate officerPay based on original invoicesUse payment requisitions for non-invoiced
items
District Dues Helps provide funds for District services to clubs
District website and database Training materials Communications (phone, postage)
Funds the annual conference, membership, leadership trainings, awards, bookkeeper, district administrator, etc.
Pays travel and other expenses of the governor, assistant governors, Governor-elects, governor nominees, officers and certain committee chairs to District and R.I. events
District Dues (Cont)
All clubs must self-assess based on membership and remit to the District dues twice a year.
Each club shall pay $25 per half year in 2012-13 per member semi-annually in July and January.
Dues are due on July 1, 2013 and January 1, 2014.
District Dues (Cont) District dues are delinquent 31 days after they
are due. The club should contact the District Governor
with any problem with the club’s ability to pay. Club dues include $5 per member for the annual
District Conference and a $3 contribution to the annual Rotary Rose Parade float.
Rotary International Dues Provide funds for the operation of Rotary
International. Can now be paid electronically with the new
Rotary Business Portal on the Internet. The club can be suspended after 90 days for
non-payment of RI dues.
Semi-Annual Report (SAR) The SAR arrives in June and December, listing all
active members on your club’s roster according to RI.
It is important to carefully review all member information.
The secretary should correct and update the report so that you can calculate club dues and subscription fees.
Remit to RI a check along with the completed SAR report. The secretary should also make membership changes and
updates through the DACdb.
Rotary International Dues Each club pays to Rotary International per capita
dues for each of its active members. In 2013-14 dues are $32.07 per half year. Dues are payable in July and January. A prorated amount shall be payable by each club
for each member who joins in the first 3 months subsequent to the July or January semi-annual periods. This prorated amount is payable by October 1 or April 1.
Remittances to the District Payments for most* district activities (dues, RYLA,
Dan Stover, etc.) are made to the are paid to Rotary District 5300.
Clearly note on the bottom of the check for what event the check has been written.
Send payment to the District office: Rotary international District 53001930 Village Center Circle, #3-396Las Vegas, NV 89134
* For a few specific district-wide charitable projects (e.g. The Peace conference, Rotaplast, Wheelchair Distribution, etc.) you will be instructed to make the checks out to the Rotary District 5300 Foundation.
Dan Stover, 4-Way Test and George Hensel Essay Contests
All clubs must submit to District 5300 the entry fees of $275 each for Dan Stover and 4-Way Speech contests prior to the first performance or speaking engagement.
If more clubs participate, the awards could be increased.
There is no entry fee for the Hensel Ethics Essay contest.
District Expense Reimbursement Requestor for reimbursement completes the first
part of the District Expense Reimbursement Form (from the District website) and attaches to it receipts.
Requestor sends form to the committee chair under whose budget the expense falls for approval and signature.
The committee chair sends the form to the District Governor for signature.
District Governor forwards request to District Bookkeeper for check issuance.
District Bookkeeper issues check and mails check out as per request on form.
Insurance All clubs are covered under a general liability
(“GL”) and directors & officers/employment practices liability (“D&O/EPL) insurance by RI.
Additionally all district and club officers are covered under a separate D&O policy.
To obtain information go to the District 5300 or RI websites.
The programs do NOT provide coverage for bodily injury or property damage sustained by a first-party insured, such as a Rotarian or
volunteer. Chartered Interact and Rotaract clubs,
RYLA, TLC are covered by the policy.
RI Foundation Grant Funding To participate in District grants or global grants
clubs must be qualified first. District Grants: No separate bank account needed,
but when submitting a final report, it must include an accounting of all costs including receipts.
Global Grants: “Disbursing clubs” will need a separate bank account for the grant and must submit a full accounting with receipts to TRF.
Provides Reports to the Board
Written records of finances of the club should be presented to the board at each meeting.
Each club should establish reimbursement procedures to ensure proper control over funds.
Treasurer and Club Secretary
It is important that the treasurer meet with the club secretary to coordinate fiscal plans and responsibilities.
The secretary (or in larger clubs, paid staff) will often record all collections and forward the money to the club treasurer.
Always give a receipt for money received to the secretary for club records.
TAX INFORMATION Federal – basic requirement: $25,000 of receipts
or more Form 990: Information Return Form 990-T: Unrelated Business Income of
$1,000 or more California
Form 199 Information Return Form 109 Unrelated Business Income
RRF-1 Report to the Attorney General
TAX INFORMATION (Cont) Nevada
No state forms are required to be filed. Due date of tax returns: 4 ½ months after the
club year ends, i.e. November 15 each year.
Raffle Information California
Must file with Attorney General 90% must go for charitable purpose Must complete annual reporting
Nevada There are no specific requirements
Foundations Most clubs have their own foundations in addition to
books for club operations. District 5300 has a foundation clubs may use. Requirements for foundations are different and more
extensive than for club operations and will require professional advice and costs.
Foundations have more regulator requirements: Inurnment Increase reporting
Foundations must maintain separate financial records from club operations, and, if required, separate tax filings are necessary.