STANDARD OPERATING PROCEDURE
OFFICE OF THE TREASURER
By-Laws ARTICLE 111, Section 2(e)
"The Treasurer shall collect and account for all monies due or belonging to the Club, and shall deposit the same in a bank approved by the Board, in the name of the Club. The Treasurer's books shall at all times be open to the inspection of the Board. The Treasurer shall report to the board at every meeting and every quarter the condition of the Club's finances. At the annual meeting the Treasurer shall render an accounting of all monies received and expended during the fiscal year. The Treasurer shall be bonded in such amount as the Board of Directors shall determine." (Amendment approved by the American Kennel Club, October. 1996).
By-Laws ARTICLE I, Section 2
"Dues. Membership dues shall be $30.00 per year for individual members, $40.00 per year for family memberships and $15.00 per year for junior membership payable on January 1st of each year. By November 1st, the Treasurer shall send to each member a statement of dues for the ensuing year." (Amendments approved by The American Kennel Club on June 26, 1980; March 20.1984; July 22.1987; and June 25, 1993.) (See page 3 Number 6)
ARTICLE II Section 4. "The Board of Directors may conduct its business by mail, FAX or other electronic means of communication or telephone conference call through the Recording Secretary provided it does not conflict with any other provision of these bylaws." Interpreting the word "send" in the By-Laws to mean that the dues statement may be mailed hard copy or sent by electronic means, as it is being sent to the members. It will be the decision of the Board yearly to determine how the dues statement is to be sent.
(A) Initiation Fee. From and after the effective date hereof, each newly elected member; family membership or junior member shall pay an initiation fee of $30.00, which shall be submitted with the application for membership and dues as hereinafter provided. (Addition of subsection approved by The American Kennel Club on July 26, 1985; June 15, 1993; and October 1996.)
(B) Conversion to Family Membership. When any existing member converts from an individual membership to a family membership, the dues payment for the current year in which such conversion occurs shall be the family membership less any individual membership dues paid by the existing member for that year provided, however, nothing contained in the subsection shall excuse any newly elected member from paying an initiation fee. (Addition of subsection approved by The American Kennel Club on July 26, 1985.)
(C) Club Year By-Laws Article IV Section I "Club Year. The Club's fiscal year shall begin on the 1st day of January and end on the 31st day of December." (Amendment approved by The American Kennel Club, October, 1996.)The Club's official year for Officers and Directors shall begin at the conclusion of the election at the annual
meeting, and shall continue through the election at the next annual meeting. The elected officers and directors shall take office immediately upon the conclusion of the election and each retiring officer shall turn over to his successor in office all properties and records relating to that office within two weeks after the election, excepting the Treasurer as noted here within.
STANDARD OPERATING PROCEDURE
OFFICE OF THE TREASURER
BASIC DUTIES OF THE TREASURER
1. The Treasurer is the primary financial officer of the Club.
a He/she is responsible for collecting and receiving all monies due the Club.
b He/she maintains all bank and investment accounts of the Club and prepares all financial statements for the club.
C He/she shall maintain accurate records ("books") by means of QuickBooks which is the official accounting software approved by the club. These books shall be open to inspection by duly authorized members, appointed by the board at all times.
D The Treasurer will prepare and submit a statement of income and expenses and a balance sheet at every meeting of the Board of Directors and every quarter, and provide a Profit and Loss statement for each STCA sponsored event such as the Rotating and Montgomery County.
E. The accounts to be handled by the Treasurer include: Checking w/interest, Checking [no interest], CD, Savings. Other CDs should be investigated for return benefit when current CDs mature.
F. Opens the books for inspection by duly authorized members, appointed by the board as the Audit Committee.
2. ELECTION TO TREASURER
Upon election of a new Treasurer, the outgoing Treasurer will turn over all
records, check book, monies and property of the Club to the new treasurer
immediately at the annual meeting. This transfer may be made just before the
annual meeting if the new Treasurer is unopposed for election to the office.
The new Treasurer will then assume responsibility for the conduct of the office
with the beginning of the Club's official year. (announcement of the results at
the annual meeting).
If possible, outgoing treasurer will begin working with the new treasurer at least a month prior to the new treasurer taking over and continue helping the new treasurer with the P & L for MCKC week through the filing of Federal taxes for the year the change is made as needed. Outgoing treasurer will also be available to help new treasurer throughout the year as needed.
Following election to office, the Treasurer shall select a bank convenient to the Treasurer and upon approval of the Board open an account(s) that safely and securely holds the Club's money assets. These accounts will be secured through the FEDERAL DEPOSIT INSURANCE CORPORATION. Although it is
highly desirable that the accounts bear a competitive interest rate, first priority will be to secure against loss.
A. In addition to the Treasurer, the Club President's signature will be
required on all bank and investment accounts. The Treasurer shall obtain the necessary signature specimen cards for submittal to the bank where accounts
B. If there is a change in the office of either Treasurer and/or President, the Treasurer will obtain the signature cards prior to the meeting where the change may take place. If there is a resignation of either officer, signature cards are to be obtained and signed within a week following the resignation.
C. All checks written for over $500 will bear the signature of both Treasurer and President.
The Treasurer will contract with a bonding company and obtain a position bond that will cover the Club against loss of funds through malfeasance. The Treasurer and President will be bonded for $200,000. (Motion passed Feb 3, 2001). Said bonding will be ordered and ready to activate with the chosen
bonding company at least a week before any nominated or elected Treasurer and/or President take office.
6. DUES The Treasurer is responsible for sending and collecting dues.
A No later than November 1st, the Treasurer will send out Dues Notices to the membership. (See Exhibit A) Included in the Dues Notice is the Bagpiper Delivery preference section where members may select to pay to have hard copies of materials normally sent electronically, and sections where members may make donations to the Health Trust and the Rescue Trust, as well as other donations the Board decides to offer to the membership (such as PAWS & the AKC PAC. The most current membership roster spread sheet will be obtained from the Recording Secretary to send the dues notices. (SEE EXHIBIT A DUES PACKET)
B. New Members: The STCA dues cycle runs from January 1 to December 31, annually. During the membership application process, the applicant pays an application fee and their first year's dues. Any applicant voted to membership after September 15 will be considered to have paid their dues for the following year's membership cycle.
C. All breakdowns of dues, Bagpiper delivery, HTF and RTF funds will be clearly indicated on the dues page. Dues pages will be kept by the Treasurer until the end of February when lapsed members are known and dues deposited and tallied. The Treasurer will forward alphabetized copies of the dues pages to the Recording Secretary on a by-weekly, or at least a monthly schedule using Priority Mail (which includes tracking)
D. The following form letters may also be included with dues: Trophy Solicitation, Awards Nominations, Breeder Referral, and Petition for Service . Any of these letters would also need approval of the Board. If Trophy Solicitation is to be included in this mail out, the Trophy Chairperson needs to be notified of the deadline for inclusion with the Dues Notice.
E. All checks shall be deposited no less than on a monthly basis. If monies need to be refunded, the Treasurer can issue a check.
F. AII monies received for the Health Trust Fund or Rescue Trust Fund with the dues payment are to be recorded on a separate Spread Sheet (Excel or
similar), one for each fund With the following arrangement: first column – donation amount; second column – donor's last name; third column – donor's first name; fifth column – donor's street address; sixth column – donor's city, state and zip. Minor adjustments may be made to conform to the system used by the Treasurers of these funds. When the dues collection is completed no later than January 31, a copy of each Trust's own spread sheet will be forwarded to the Treasurer of the Health Trust Fund and Treasurer of the Rescue Trust Fund along with a check for the total amount collected. Any donations received made out to the STCA will be deposited, and a check written to the appropriate Fund for that amount along with the name of the donor, and any dedication or memorial indicated.
G. Prior to January 15th, members delinquent in paying dues by December 31st will be reminded of this by the Treasurer - either by mail, email or telephone call. This process will be repeated a week later if dues have not been paid. The Treasurer will also provide this list of members still unpaid on the same date to the President and Recording Secretary.
H. BY-LAWS Article I Section 4 (b) "Membership will be considered as lapsed and automatically terminated if such member's dues remain unpaid (30) days after the 1st day of January."
I. Although the official list of members in good standing of the Club is maintained by the Recording Secretary on a excel spread sheet, the Treasurer will also keep a spread sheet . At the end of January, notify the Recording Secretary of the delinquent members within a week. The Treasurer will simultaneously submit a copy to the Board of Directors.
J. Any checks deposited that are returned marked "Insufficient Funds" shall be assessed the fee that the bank has charged for a returned check. A letter shall be sent to the person notifying them of the returned check and requesting a money order in the amount of the check along with the return check charge.
K. Following the closing deadline for dues, immediately send a
completed copy of the Membership Spreadsheet to the Recording Secretary.
L. At the close of the dues period, all forms and applications are to the
distributed to the appropriate Chairperson, or the designated officer.
The Treasurer will prepare an annual budget that will be presented at the Board of Directors' meeting following the fiscal year end. Recommendations to the
Board concerning increases in dues, limitations on expenditures and other policy items, which will govern the Board's action for the fiscal year, are
to be made at this time.
8. BAGPIPER REPORT
The Treasurer will submit a Profit and Loss report to be published in Issue #1 of the Bagpiper for the preceding calendar year. Deadline: January 30. A Quarterly Profit and Loss will go into Bagpiper 2, 3, and 4.
A. Annual In House Audit
The President shall appoint three (3) STCA members to an Audit committee one of which shall not be an officer or director. The Treasurer will be present at in house audit if so desired. The in-house audit will take place in conjunction with the first meeting of the Board following the October meeting, or before if convenient to all on the appointed committee.
B, When there is a change in Treasurers, an external audit of the books is to be arranged, and executed, by a certified public accountant. This audit is to follow the ending of the fiscal year, and be arranged by the President or
10. INCOME TAX
Following the fiscal year end, the Treasurer will make the necessary arrangements to have the Club's Federal Income Tax Return completed and submitted in a timely manner. The Treasurer shall maintain a record of all past tax returns.
11. DISBURSEMENT OF FUNDS
A . The Treasurer will disburse funds to cover expenses authorized by the Board of Directors. Any check for over $500 is to be co-signed by the President.
B. He/she will maintain a detailed record with back-up data to support all such disbursements.
C. The Treasurer may require that receipts and documentation for such disbursement be in a standard form (See Exhibit B).
D. Any billing receipts are to be itemized as to their function.
E. If the Treasurer has significant doubts about the disbursement of any monies, he will consult with the President and/or the full Board of Directors. Such consultation will be at the discretion of the Treasurer.
F. Expenses not submitted in the fiscal year incurred will not be reimbursed. (Motion passed October 4, 2001).
G. Reimbursements will be sent within two weeks of receipt of expense report. (Motion passed March 14, 2002).
12. CHECKS RECEIVED
A. Any checks deposited that are returned marked "Insufficient Funds" shall be assessed the fee that the bank has charged for a returned check. A letter shall be sent to the person notifying them of the returned check and requesting a money order in the amount of the check along with the return check charge.
B. Any person writing two or more checks that are returned for insufficient funds will be placed on a cash basis only and are to be charged any penalty fees accrued as a result of the problem.
Officers and Directors shall receive their Bagpiper by First Class mail, without charge.
14. STALTER FUND
The Treasurer will have custody of the Stalter Papers and arrange for their safe keeping in a safe deposit box. The compound interest of the Stalter Fund will be used for the engraving and maintenance of the Montgomery County Challenge Trophies.
A. The Treasurer is to receive a copy of all contracts pertaining to the Club
after they have been signed by all required parties.. These contracts should
include but are not limited to judge's contracts, hotel contracts, show site contracts, food contracts.
B. The STCA may accept a contractual bid from a member for an STCA function at a given price approved by the STCA and the member will present an invoice for that bid. (Motion passed October 4, 2001).
16. NON PROFIT STATUS
Submits forms required by the State of New Jersey in order to maintain the club's status as a 501 [C6] organization.
Recommended Accounting Principles for Treasurer
1. The Treasurer will be provided a Quickbooks program for use on all accounts. No other system will be allowed unless directed by the board. If a new Treasurer is elected that is not familiar with the program he/she will be compensated for instruction on its use as provided by the board.
2. The Treasurer will maintain a loose leaf note book of all financial materials and reports.
3. Financial reports will consist of but not limited to:
a. Monthly bank statements, interest statements,
* Treasurer should get the three check register which has more room for records of checks written.
* A running balance must be kept to afford balancing with the Bank Statement and balancing must be done on a monthly basis.
* All deposits including those from Credit Cards must be entered.
* All deposit slips should be kept with the appropriate Income Voucher. * All cancelled checks and or the numbers should be kept with the appropriate Expense Voucher. Although banks do not return cancelled checks, with many banks you can view online and print out the cancelled check, or a copy of the check will be on the back of the monthly statement.
b. Monthly reconciliation reports generated by Quickbooks.
c. Monthly financial statements of all transactions generated by Quickbooks.
d. Monthly profit and lost statement generated by Quickbooks.
e. Quarterly detailed P & L showing all monies spent by item and category.
f. Copies of all annual budgets.
4. The Treasurer will keep a current roster of the club membership which will be created and sent by the Recording Secretary showing dues payment, first class Bagpiper payment, hard copy preference, current mailing address, e-mail address, phone numbers, kennel name, and type of Membership.
TIME TABLE – Stipulated Dates
Mandated Dates as stipulated [One-time function]
1. October Annual Meeting: Render an account of Club's finances, all money received and expended by line item.
2. By November 1: Send each member a statement of dues
3. January 10: Send a dues reminder to unpaid members by email if possible.
4. By January 15: Notify Recording Secretary & Board of unpaid members as of this date.
5. By January 15: Send the Profit & Loss statement for prior year for publication in #1 Bagpiper.
6. January 22: Send a second dues reminder by email or call unpaid members.
7. January 31: Notify the Recording Secretary and Board members of delinquent members.
8. September - complete and submit the forms for Non Profit status to the State of New Jersey.
9. For Winter Board Meeting: Prepare Annual Budget for submission at the first
scheduled Board Meeting of the new year
10. October Annual Meeting: Turn over all records, check books, monies and properties to new Treasurer
10. By April 15th complete and submit Federal Income Tax Return.
Mandated Ongoing Dates – [Required at times noted]
1. Collect and deposit all monies due the club
2. Report finances at every meeting of the Board
3. Provide statement of income and expenses and balance sheet at every meeting of the Board and every quarter.
4. Prepare line item Profit & Loss Statement for Montgomery & Rotating events
5. Report finances every quarter to the Board
6. Deposit checks on a monthly basis.
Revised Jan 22, 2011 / Revised Feb 22, 2014