HOWTO Be Treasurer

From i3Detroit
Jump to: navigation, search

Tasks/Responsibilities of Treasurer

  • Pay and archive Bills
  • Receive, deposit and document monies and income.
  • Manage the collection of all dues and all other Accounts Receivables.
  • 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.
  • Synchronize with the Membership Coordinator to make sure members that exit are marked in the CRM, their Keys turned
  • Manage the Budget and all associated processes.
  • Present reports to Board and Membership.
  • Use the Transaction Recognition Policies defined by the Treasurer.
  • Set all i3 policies regarding Budget documentation and accounting, subject to override by Board Action.
  • Hold working meetings if the Committee has more than one member.


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

Archiving

  • Make sure that budget@ is set to archive both incoming and outgoing emails permanently.
  • Pass all communication and documentation thru budget@ to insure archiving.
  • Budget@ becomes your permanent archive for the next person.

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 budget@i3detroit.com.
  • Make sure the name, amount, line item and scan of receipt pass thru budget@. If you are handed paper, photo it and send it to budget@.
  • Send email with amount, name and description to Authorized Agent, per budget. Insert in spreadsheet Color ORANGE.
  • Pester Authorized Agent until approval/rejection. Let Authorized agent handle rejection directly with submittee.
  • Cut check to submittee. Place in month when check is cut. In spreadsheet mark PURPLE.
  • When submitee receives check or check clears bank, mark GREEN.
  • END

Processing a Budget Amendment Request

  • All amendment requests given to the Treasurer will be vetted for completeness and forwarded with an opinion by the Treasurer to the Board at monthly Board Meeting.
  • Give an opinion when asked on all amendment requests done ad hoc in the Board Meeting.
  • Add each approved amendment to the Budget after the Board meeting, giving a new line item #

Budget Reporting

  • Add all paid bills to spreadsheet.
  • Add all income to spreadsheet.
  • Freeze for month and start new sheet for budget through end of next month in Spreadsheet.
  • Create a detailed Budget Report Spreadsheet and Budget Report Summary monthly. Archive in i3 Data Vault.
  • Publish that report to the monthly Board Meeting and an appropriate Members Meeting.


Yearly Budget Creation

  • Distrubute instructions to Wardens and interested members on how to submit a budget item for submission.
  • Forecast the General and Special Events budget submission form historical trends.
  • Aggregate all budget submissions into a master spreadsheet and deliver that to the Board prior to the Annual Budget Meeting.
  • Preside over the Annual Budget Meeting in which the Board create the Budget for the new cycle.




Deposit Processing

Amazon and PayPal Payment

  • All CRM entry is entirely automated. Every Amazon Payment makes an entry in the PAYMENTS page credited to the Member Name. The database holds the links between Amazon Name, which is supplied to us for each Amazon Payment, and Member Name(the exact name of the member in the CRM). Those are many times not exactly the same, so a link between the two is held on the PAYMENTS/AMAZON/ADMINISTER page.
  • Move bulk money from PayPal account into Checking by signing on our PayPal account and "withdraw funds". Do so about once every 3-5 days and two days before the final day of the month.
  • Movement from Amazon is automated.
  • Credit is recognized on day it clears checking account, not time of withdraw from Amazon.
  • There is no easy way to report Amazon/PayPal Dues separately from Amazon Donations synced to bank deposit date, so we count all deposits as "Dues" in Budget Reporting.

Check and Cash Payment

  • Clean out the black box weekly.
  • Immediately update the CRM. Place an entry for the member in the PAYMENTS page with the correct amount.
  • Deposit in Bank
  • Check online next day to make sure deposit happens correctly.


CRM Processing by Treasurer

Billing Button

  • Press the Billing button on the 2nd and the day before any outgoing dunning emails.
  • The billing button updates all debits required by changes in the CRM from the last button push.

Clean Up Orphaned Links

  • Weekly - At PAYMENTS/AMAZON/ADMINISTER Resolve all Amazon/PayPal Names not linked to a Full Name.

LEAVE

  • When a person goes On Leave, as indicated by change in Plan or email from the Membership Coordinator or direct contact by the member, write off any fractional debit so that member has $0 balance owed. Make sure any direct contact is copied to the Membership Coordinator.
  • When a member comes back from Leave, write down any fractional dues charge which the CRM assesses so that the member exits the month with $0 balance owed.

MEMBER EXIT

  • When a person ends their membership in i3, as indicated by change in Plan or email from the Membership Coordinator or direct contact by the member, write off any debit so that member has $0 balance owed. Make sure any direct contact is copied to the Membership Coordinator.


Dunning

  • Contact each member that is overdue on the 15th of each month and the 25th


Archiving

  • All contracts, statements, invoices and written correspondence (other than email) should be archived by the Treasurer in the i3 DataVault in the appropriate folder.




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 See Lease 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.