Duties of Thetreasurer

DUTIES OF THETREASURER

The Treasurershall:

1.Answer all correspondence with copies to appropriateindividuals.

2.KeepanaccurateaccountofallfundsreceivedanddispersedbytheSociety.Allfunds shall be deposited in a financial institution that is a member of the FDIC.Theaccountwillbeestablishedwithtwo(2)signaturesinadditiontothetreasurer.Thetwo(2)additionalsignaturesshouldbethePresidentandtheBoardChair.Thesignaturecardshallbeupdatedannually.TheTreasurershallpayallbillsoftheSociety and post such payments to the proper lineitem.

3.Update the names on the credit cardannually.

4.Seethatallpositionshandlinglargesumsofmoneybebondedfornolessthan

$50,000.00andincreasetheamountofthebondwhendeemednecessarybytheBoard ofDirectors.

5.Acquireareputableperson(s)toassistwithtaxfilingandfinancialauditsannually.An audit review shall be obtained annually. A full audit shall be obtained everythirdyear and when the treasurer’s position is changed. A copy of the official reportshall be kept on file for five years and a second copy shall be sent to the Chairman oftheBoard ofDirectors.

6.PrepareaquarterlyfinancialreporttobesubmittedtotheBoardofDirectors.Afinancial report will be prepared for the Annual conference with copies distributedtothe membership. The report shallinclude:

a.Up-to-date financialstatement.

b.Performance statement reflecting actual income and disbursementsagainstbudgeted income anddisbursements.

c.A line item account of funds for board of directors andcommittees.

6. An official Society expense voucher, along with original receipts oritemizedexplanation of funds shall accompany all requests for reimbursements. (SeeSection

9.0 forvouchers.)

7. Keep all tax records indefinitely. Treasurer’s reports, bank statements,and copyofcanceledchecksshallbekeptonfileforfiveyears.Boardinformation,correspondence, membership receipts and invoices paid shall be kept forthreeyears.

8. Provide internal audit information uponrequest.

9.Correspondwithanypersonwhosepaymentisreturnedforinsufficientfunds.The

person will be requested to resubmit the original amount plus the service chargevia money order or certified check. The NSF charge is$33.00.

10.SeekfinancialadviceandmakerecommendationstotheBoardofDirectorsinthebest interest of theSociety.

11.Record deposits made by the CentralOffice.

12.Provide flight coupon(s) as approved by the Board ofDirectors.

13.Provide an IRS 1099 form for all employee’s/contracted worker’s no laterthanJanuary 31st. (see example of the 1099 forms, Section 9.01, pgs 1 &2)

14.AttachacopyoftheIRS1099formtotheIRS1096formandreturntotheIRSno later than January 31st. (see example of the 1096 form, Section 9.02, pg.1)

15.Obtain certificate of good standing validating current incorporation fromNC Secretary of State and forward to the President uponrequest.

The responsibilities stated herein shall be reviewed by the Treasurer prior tosubmittingthe Annual Report. Any recommendations for revisions shall be submitted to theBoardof Directors foradoption.

ADOPTED:October1985

REVISED:Feb.2005

April2012