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The Board of
Directors has the responsibility to assure
that the Club funds are handled properly and
that the events benefit the Club. The Club
has governmental reporting requirements that
affect its status and license acquisition
capability. Good complete reporting is
necessary not only to meet the Club
reporting requirements but also for the next
chairperson to be able to carry-on the
event. Each chairperson is required to
report the results of their events to the
Board of Directors and to turn in all monies
to the Treasurer. The following describes
the requirements and offers mechanisms for
that reporting. If these reporting
requirements are met through other
mechanisms, those reports will be accepted.
All reports should be directed to the
Treasurer.
EVENT: The
Club holds many kinds of events. Some are
once per year, some are weekly for a period
of time and others occur a number of times
during the year. The weekly events should
turn in a report, promptly, at the end of
their season. The others should turn in a
report after each event. Monies should be
turned in as they accumulate. Do not hold
monies, except for start-up, for any period
of time.
ATTENDANCE
REPORT: This
link takes you to a suggested attendance
report. If the chairperson keeps a more
detailed report, it can be substituted. It
is important that the attendee be identified
as a member or not. For example: If the
event is attended by members only there is
no reason to advertise the event outside the
Club media. On the other hand, if there is
a mix or an abundance of non-members there
is reason to advertise. It also gives an
opportunity to solicit memberships, sell
raffle tickets or inform them of other
events. Knowing who is supporting the event
will direct the Club efforts toward
increasing the participation.
FINANCIAL
REPORT: This
link takes you to a suggested financial
report. If the chairperson keeps a more
detailed report, it can be substituted.
This information is critical to maintaining
good financial records. The Treasurer must
record and report all transactions and
account for the funds. The Audit Committee
must attest to the proper recording of the
funds and the proper use of the funds. This
is very critical to the Club lottery
reporting requirements (whether you are
involved in a lottery activity or not).
Large expenditures should be paid out of the
Club check book or through the Club credit
card. These should also be reflected on the
report as memo items, not in the
calculations, but available for final profit
calculations. Receipts must be included in
the reporting for all expenditures except
those paid from the Club check book or Club
credit card.
Questions on the
reporting requirements can be directed to
the Treasurer or the Audit Committee. If
alternate reporting is desired it is
suggested that it be approved in advance.
Chairpersons making purchases with their
personal funds should promptly turn in the
receipts to the Treasurer for
reimbursement. The Club does not wish its
members to suffer an imposition on its
behalf.
Prompt reporting
and turning of funds is important so that,
at any point in time, the Club books
properly reflect the Clubs financial
status. Chairpersons anticipating large
expenditures should inform the Board of
Directors as soon as possible. The Board of
Directors is continually making decisions
based on the financial data.
The Treasurer is
available to assist the chairpersons
with the reporting.
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