Club Treasurer Presentation

Treasurer Roles, Responsibilities and Tasks

The Role of the Club Treasurer

The Club Treasurer is responsible for all financial matters pertaining to the club

Meetings

The Treasurer should be in attendance at all Club meetings and Board of Directors meetings.

Treasurer’s Role • Club Meetings: – Keep members informed – Be prepared to present financial information at club meetings – Oral reports should be concise, factual and to the point – Be prepared to collect money and issue receipts

Keeping Funds / Accounts in Order • The Club Treasurer is charged with keeping the club’s funds and accounts in order • Receive all club-related monies both from membership dues and the clubs activities • Work with the secretary to send out a club dues invoice at the start of the dues-paying period (1st July and 1st January)

Treasurer’s Role

Prepare budgets

• Administration budget • Activities Budget

Accounting Review current banking arrangements Funds for administration and activities must be kept separate through book-keeping and two bank accounts 1. Administration – funds from dues, fines and internal funds

2. Activities/Charity/Services – funds raised from the public

Other bank accounts can be opened for special projects

Treasurer Role Review and select officers for signing and cosigning cheques. Obtain approval from the Club or Board of Directors

Treasurer Role Deposit monies in predetermined accounts – Bank monies within 48 hours of receipt – Immediately update record-keeping

Treasurer Role All payments must be authorised by the Club members or Board of Directors Pay Lions Clubs bills promptly • Ensure approval is recorded meeting minutes

Record-Keeping and Reports Organised and accurate record-keeping and submitting financial accounts appropriately are priorities for the Club Treasurer.

Record-Keeping and Reports • Maintain general records of club receipts and payments – Reconcile bank statements – Record monthly income and expenses promptly – Review itemised LCI statement and submit to the club for approval. This statement should also be verified by the Secretary especially when membership dues are included – Use a ledger book or computer spreadsheet – Record dues when paid

Reporting • Semi-annual and annual financial statements • Reports to be brief, factual and informative • Meeting reports include a brief income and expenses statement • Written list of transactions to the Secretary for inclusion in meeting minutes. • Copy of annual audited accounts MUST be approved by the Club and a copy forwarded to the District Treasurer

Charitable Status • ROI Charity No. – CHY 15707 • NI Charity Ref: - XR 90123 numbers not issued in NI • Upon Application Exemption or Relief from – • Capital Acquisition Tax (Gift or Inheritance Tax) • Companies Capital Duty • Stamp Duty on transfer or lease of land • Rates on premises in NI There is NO exemption from V.A.T.

Gift Aid • • • •

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Mainly applicable to Northern Ireland PAYE Taxpayers can donate to a Lions Club as a tax free donation No minimum limit in NI - €250 in ROI Membership dues can be a donation if the Lion is a taxpayer Income from certain types of fundraising can also be noted as a donation Donations from taxpayers warrant an application for a tax rebate of up to 25%

Gift Aid Membership dues for 4 years up front would be applicable but requires detailed bookkeeping In all cases rebate applications to be processed via District Charity Trust Officer (PDG Donal Horgan) All clubs participating in Charitable Status or Gift Aid scheme must have lodged recent audited financial with the District Treasurer

End of Term Audit Reports/Records – It is sound accounting procedure to audit the records at the end of each fiscal year – Respected Lions are appointed to do the audit – Remember to send a copy to the District Treasurer

Leadership Please remember Club members look at the Treasurer as one of the leaders of the Club. You need to act as a Leader

Further Topics Included in the Club Treasurers Guide • LCI Organisational Structure • Club Structure • Board of Directors • Leadership Skills • Lions Learning Center

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Youth Payment Membership Types Family Membership Prog Sample income/payments Sample Balance sheet Gift Aid Forms

Thank you for listening

Any Questions?