HOWTO Be Treasurer

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Tasks/Responsibilities of Treasurer

  • Pay and archive Bills
  • Receive, deposit and document monies and income.
  • Record/manage all Dues deposits into CRM.
  • Manage the Budget and all associated processes.
  • Present reports to Board and Membership
  • Handle Taxes and other government filings.
  • Set all i3 policies regarding financial documentation and accounting, subject to override by Board Action.
  • Write up receipts for donations, and maintain the donation logbook.
  • Manage all Treasurer assistants.
  • Note: At this time, March 2014, it is not the job of the Treasurer to add/end Memberships in the CRM, add/end keys, or provide dunning notices/management to the overdue members. That may change at some point in the future. If so, this note will be changed.

Transaction Recognition Policies

For reporting purposes transaction which may have several dates associated with them must have a unique date for a particular reporting/logging system. For the period starting 1/1/14, and until otherwise noted, the following accounting practices are followed.

  • A manual paper check issued by i3 to pay an i3 debt is recognized on the date printed on the front of the check.
  • An online Bill payment, whether via paper check or ACH/EFT will be recognized on the date logged in the Bill Payment History of the online banking account.
  • A debit card transaction will be recognized on the date it clears the bank, as recorded in the Transaction History of the account.
  • A dollar transfer from Amazon will be recognized for accounting purposes as the date logged for the deposit in the Transaction History of the bank.
  • Payments through Amazon will be logged in the CRM automatically under the date as decided by the software.
  • All dollar transfers from Amazon to our checking account will be logged as Dues for reporting purposes, including donations made through Amazon, for simplicity.
  • All cash and check payments to i3 will be recognized for accounting purposes on the date of deposit into our checking account.
  • All cash and check payments to i3 for dues will recorded in the CRM using the date on which they were entered into the CRM.
  • All monies sent to the Treasurer from Zone Cash Boxes will be deposited into the checking account but be accounted separately from the General Fund and will not be counted as Income. Each will be accounted as a {ZoneName)Fund.
  • All monies released from our checking account as taking money from a "ZoneName Fund" will not count as an expense, although a receipt image file will be required to be archived.
  • The Budget Process handles only transactions to/from the General Fund.
  • All receipts, contracts, invoices and documents will be stored electronically in the i3DataVault.

Budgeting Processing

Processing a Reimbursement Request

  • Get payee name, mailing address, scan of receipt, amount, and Line Item # from the submittal, either from a form reimbursement request (see the Instruction Manual for Budget) or by informally gathering the information to
  • Confirm receipt of the initial email to payee.
  • Make sure purchase is authorized and all data is in.
  • Make a WORD document following the form. Set filename to (payeename.amount.doc)
  • Group new/open reimbursements into weekly email of a check request to the Treasurer with payeename, amount and USPS address for all requests.
  • Email to payee that request has been approved.
  • Insert approved request into budget spreadsheet. Color Yellow.
  • When check has been cut Treasurer emails Budget assistant.
  • Upon receipt of email from Treasurer, inform payee by email that check should be there in 10 days, if not please contact Budget assistant.
  • Mark Purple in budget spreadsheet. Move expense to month of check cut.
  • Followup with payee until email confirmation of receipt of check
  • Mark Green in budget spreadsheet.
  • Move word doc to i3DataVault Admin/Budget/Reimbursements/
  • END

Deposit Processing

Amazon Payment

  • All CRM entry is entirely automated.
  • Move money from Amazon account into Checking by Amazon "withdraw funds". Do so about once every 3-5 days and on the final day of the month.
  • Credit is recognized on day it clears checking account, not time of withdraw from Amazon.
  • There is no easy way to report Amazon Dues separately from Amazon Donations synced to bank deposit date, so we count all Amazon deposits as "Dues" in Budget Reporting.

Check and Cash Payment

  • Clean out the black box semi-weekly
  • Immediately update the CRM. (See CRM section)
  • Prepare a spreadsheet with each payment a line item. One Spreadsheet per year. Group by deposit. Archive in i3 DataVault/ADMIN
  • Deposit in Bank
  • Check online next day to make sure deposit happens correctly.

CRM Processing by Treasurer

  • Follow up with members whose checks bounce; follow up with the same members the following month when their checks bounce again. (placeholder)
  • TBD

Regular, recurring expenses and how they are paid

There are several expenses that are incurred on a regular and recurring basis. The following table describes each one, including a description of how the expense is paid. "Check" means that a physical check is written and delivered to the creditor. Note that some bills are actual paper bills that get delivered to the space--check the mailbox regularly for these and other important things.

Payee (reason) Frequency Amount Mode of Payment
John Hutt (rent) Monthly $2130.00 Check, payable to John Hutt, hand-delivered to mailbox of John's landscaping business (next door to i3).
WOW (internet) Monthly $74.50 Automatic debit from checking.
Runco Waste (dumpster) Monthly $65.00 Check; paper bill is mailed to 1481 Wordsworth.
Consumers Energy (gas) Monthly Varies Automatic debit from checking.
DTE Energy (electricity) Monthly Varies Automatic debit from checking; we send an invoice to B. Nektar for their portion of the bill.
Westfield Group (insurance) Monthly $89.00 Automatic debit from checking.
John Hutt (water) Quarterly $200 Check, payable to John Hutt, hand-delivered to mailbox of John's landscaping business (next door to i3); John Hutt delivers copy of bill to 1481 Wordsworth mailbox after subtracting B. Nektar's portion.