Chapter Manual - V. Executive Board - Treasurer

Added by Karen Huffman, last edited by Lorraine Bell on Aug 05, 2010  (view change)

Table of Contents

Treasurer Overview

Election: The Treasurer is elected first as Treasurer-Elect to a one-year term of office by a simple majority of votes cast by the Chapter membership. The Treasurer-Elect becomes Treasurer the following year, for a two-year term in office. The new Treasurer-Elect's term overlaps the second year of the Treasurer's term, so that the Treasurer-Elect may become familiar with the financial matters of the chapter. Thus the Treasurer position requires a total of a three-year committment. (See Chapter Bylaws, Article III, Section 5; Article IV, Section 6; and Article X).

Qualifications: The office of Treasurer-Elect is open to any member is good standing who has been active in the Chapter for at least one year.

Term: The office of Treasurer is a two-year term; the incumbent may be renominated and reelected to a second consecutive two-year term, but not to a third term.

Functioning Committee: None.

Roles and Responsibilities

The Treasurer handles all financial matters of the chapter.

Duties

  1. Letter of Authentication and Privilege: At the start of the Association's year, the Treasurer provides the Recording Secretary with a letter of authorization addressed to the Chapter's bank which notifies the bank of changes in the signatory privileges governing Chapter accounts. The letter identifies the Chapter's active account numbers and confirms the status of the Chapter's financial accounts as current and active. The Recording Secretary witnesses the signatures of the Chapter President and Treasurer and returns the letter to the Treasurer. The Treasurer then accompanies those people with new signatory privileges to a branch of the bank to complete new signature cards. The notice of authentication and signatory privilege must be completed annually, preferably before February 1. One copy of the authenticating letter is retained in the records of the Treasurer.
  2. The Treasurer is responsible for all of the Chapter's financial transactions including deposit of all receipts and disbursement of all authorized expenditures.
  3. The Treasurer has the option of inviting members of the Executive Board and Chapter Advisory Council to submit estimates of the Chapter's expected financial obligations through the upcoming twelve month period.
  4. The Treasurer, with advice from the Chapter President and President-Elect, prepares the annual budget before the beinning of the fiscal year, and presents the budget to the Executive Board for review and approval not later than the Board's regularly scheduled February meeting.
  5. If the affiliated Groups handle their own finances, the Treasurer receives financial statements from each of the Chapter's affiliated Groups, and forwards these reports with the Chapter's annual financial statement to the Director, Financial Services, SLA.
  6. The Treasurer prepares the Chapter's Annual Financial Statement, which includes the balance of each of the Chapter's current accounts.
  7. The Treasurer submits the Chapter's Annual Financial Statement for auditing by the Chapter's Auditor, who is appointed in accordance with SLA policy.
  8. Following the annual audit, the Treasurer prepares copies of the Chapter's Annual Financial Statement and submits the Chapter financial statement in duplicate to the Director, Financial Services, SLA. The statement must be filed in accordance with SLA requirements.

Files for the Next Treasurer

Reports

  • The Treasurer prepares a financial report summarizing the status and balance of each of the Chapter's current accounts for each meeting of the Executive Board.
  • The Treasurer prepares the Chapter's Annual Financial Statement, which includes the balance of each of the Chapter's current accounts.
  • The Treasurer submits duplicate copies of the Chapter's Annual Financial Statement to the Director, Financial Services, SLA, on or before the date specified by SLA requirements.
  • Completed files, working papers, and correspondence of any specific year shall be transferred to the Chapter Archivist for review, selection and storage.

Expenses

Requests for reimbursement of out-of-pocket expenditures may be submitted to the Treasurer, and should be accompanied by receipts if available and brief statements concerning the nature of the expenditures. Expenditures in excess of $500.00 require approval from the Executive Board.

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