Welcome to the Position of Treasurer

NAU CMAA

Treasury MANUAL

Last Updated January 21, 2005

Welcome to the Position of Treasurer

Table of Contents

Section 1: Getting StartedPage 3

Section 2: Creating InvoicesPage 5

Section 3. Income StatementPage 10

Section 4:BudgetingPage 13

Section 5: Checks and MeasuresPage 16

Section 6: Committee Expense ReportsPage 19

Section 1

G E T T I N G S T A R T E D

CONGRADUALATIONS on being appointed as the new treasurer for Club Managers Association of America NAU Chapter

Treat the position with respect and allow plenty of time in the month to perform the duties that come with the position
If you have any difficulties feel free to ask the President or Advisor
Your predecessor will go over this manual with you & if they are not available, the President will review it with you
Be sure to look over previous invoices and budgets to familiarize yourself with the general way statements are formatted
Check the CMAA mailbox at the HRM front desk everyday you are in the building and your e-mail once a day
There is a lot of information and you need to be able to work with excel.
Always keep in mind that someone in the future will be trying to understand your entries and account activity (so it should be clear an organized).
One more thing, HAVE FUN!

/ List of Duties for Treasurer according to Chapter Bylaws

Maintain and disperse checks and invoices while keeping a catalog of each invoice.
Monitor bank account balance
Keep in contact with all Chairpersons to keep accurate account for funds used or gained
Head each committee in financial guidance
Have report for each meeting on financial standing
Write Treasurer’s report for Chapter Newsletter
Furnish President with updates on financial standing regularly
Work with and make suggestions on budget and forecasts with President

Section 2

Creating Invoices

To the right is the Invoice Template. You can open it in the treasury file under invoice.xls in Excel. You will need to have excel on your computer at home unless you want to do all the computing in the computer labs.
Steps in filling out the invoice:
1.) insert date invoice is made
2.) insert the invoice # (just the next in succession)
3.) insert who the bill is to and for
4.) write the description of the expense or revenue briefly
5.) insert the amount(s) and the total will automatically compute
Saving the invoice:
1.) File, save as do not save over the invoice template
2.) Change the file name to I and then the invoice # (I235)
Printing and Filing the invoice:
1.) Print the invoice
2.) Staple behind the invoice anything showing the record such as receipts, check stubs and deposit slips
3.) File the invoice in the correct section of the treasury folder
a.) if you need to get a check issued, or make a deposit, put the invoice in the “To Be Done” section
*Be sure to edit the invoice template to have your name and
e-mail address at the bottom  / Northern Arizona University Student Chapter / INVOICE
Club Managers Association of America
DATE:
P.O. Box 5638
Flagstaff, AZ 86011
Faculty Advisor: Paul Wiener / INVOICE #
Bill To: / For:
DESCRIPTION / AMOUNT
TOTAL / $ -
Thank you for your support
If you have any questions concerning this invoice, contact Kate Kramer, VP/Treasurer

Different examples of invoices:

New Members:Revenues/Fundraisers:

Northern Arizona University Student Chapter / INVOICE
Club Managers Association of America
DATE:
P.O. Box 5638 / August 1, 2005
Flagstaff, AZ 86011
Faculty Advisor: Paul Wiener / INVOICE #
100
Bill To: / For:
Kevin Graham / CMAA Student Chapter
DESCRIPTION / AMOUNT
Membership Fee
CMAA Headquarters Fee / 45.00
Student Chapter Fee / 5.00
TOTAL / $50.00
Thank you for your support
If you have any questions concerning this invoice, contact Kate Kramer, VP/Treasurer

Northern Arizona University Student Chapter / INVOICE
Club Managers Association of America
DATE:
P.O. Box 5638 / August 1, 2005
Flagstaff, AZ 86011
Faculty Advisor: Paul Wiener / INVOICE #
102
Bill To: / For:
Forest Highlands / CMAA Student Chapter
DESCRIPTION / AMOUNT
Fundraiser
Forest Highlands Tournament / 90.00
TOTAL / $90.00
Thank you for your support
If you have any questions concerning this invoice, contact Kate Kramer, VP/Treasurer

Different examples of invoices:

Paying CMAA Headquarters:Revenues/Fundraisers:

Northern Arizona University Student Chapter / INVOICE
Club Managers Association of America
DATE:
P.O. Box 5638 / August 3, 2005
Flagstaff, AZ 86011
Faculty Advisor: Paul Wiener / INVOICE #
103
Bill To: / For:
CMAA Student Chapter / CMAA Headquarters
DESCRIPTION / AMOUNT
Membership Fees For:
Emily Osborne (I216) / 45.00
Kyle Summers (I217) / 45.00
Martha Richardson (I210) / 45.00
TOTAL / $135.00
Thank you for your support
If you have any questions concerning this invoice, contact Kate Kramer, VP/Treasurer

Northern Arizona University Student Chapter / INVOICE
Club Managers Association of America
DATE:
P.O. Box 5638 / August 3, 2005
Flagstaff, AZ 86011
Faculty Advisor: Paul Wiener / INVOICE #
104
Bill To: / For:
Forest Highlands / CMAA Student Chapter
DESCRIPTION / AMOUNT
Fundraiser
Forest Highlands Tournament / 90.00
TOTAL / $90.00
Thank you for your support
If you have any questions concerning this invoice, contact Kate Kramer, VP/Treasurer

Different examples of invoices:

Reimbursements for Committees:Reimbursements for Conference Registration:

Northern Arizona University Student Chapter / INVOICE
Club Managers Association of America
DATE:
P.O. Box 5638 / August 5, 2005
Flagstaff, AZ 86011
Faculty Advisor: Paul Wiener / INVOICE #
105
Bill To: / For:
CMAA Student Chapter / Aubrey Raymond
DESCRIPTION / AMOUNT
Hospitality Committee
Food for 9/1/04 Jr. Chapter Meeting / 3.10
4.90
TOTAL / $5.00
Thank you for your support
If you have any questions concerning this invoice, contact Kate Kramer, VP/Treasurer

Northern Arizona University Student Chapter / INVOICE
Club Managers Association of America
DATE:
P.O. Box 5638 / August 5, 2005
Flagstaff, AZ 86011
Faculty Advisor: Paul Wiener / INVOICE #
106
Bill To: / For:
CMAA Student Chapter / Jenn Messer
DESCRIPTION / AMOUNT
Conference Registration Reimbursement / 130.00
TOTAL / $130.00
Thank you for your support
If you have any questions concerning this invoice, contact Kate Kramer, VP/Treasurer

Section 3

Income Statement

2005-2006 Actual Income Statement
Date / Invoice / Description / Expense / Revenue / Check # / Date
1 / 1-Mar / Beginning Balance / $ 251.51
2 / 16-Mar / 100 / Postmail / $ 6.07 / #140 / 19-Mar
3 / 24-Mar / 101 / Hospitality / $ 10.81 / #138 / 26-Mar
26-Mar / 102 / Approved CE / $ 24.00 / #140 / 28-Mar
4 / 25-Mar / 201 / Membership Fee / $ 50.00 / #139 / 1-Apr
5 / 21-Apr / Balance / $260.63
28-Apr / 104 / Supplies / $ 9.73 / #141 / 1-May
6 / 1-May / 202 / Fundraiser / $ 63.00 / 15-May
7 / 2-May / 257 / HQ Fees / $ 45.00 / 14-May
8 / 11-Nov / 249 / Con Registration / $130.00 / Not Issued
9
10 / Total: / $225.61 / $ 364.51
11 / Balance: / $138.90

Above is an example of entries of all the invoices created, organized to track what should be in the bank account. Each line has a # to the left and is explained accordingly below. A file of the previous year’s income statement should be provided to you. Copy and paste the format of the old statement to a new “tab”. The tabs are located in the bottom bar line of excel. Label the tab to represent the correct year. This way, we can keep all the statements together.

-Description: This should only contain the account name, not detailed information on what store the expense was incurred at. Keep the descriptions consistent. Determine the names of different accounts from the budget, each name should link up to an expected revenue or expense.

-Check #: When you receive a check to be issued out, write the check # on the invoice and the date it was issued. Record the check # to the extra column in the income statement.

-Check # Date: When you receive the bank statement account summary, record the date each check was deposited, as well as the date that any revenues were deposited. This is important as it will help you compare the actual balance in the bank statement with the balance you should have according to the income statement. Sometimes not all checks will be deposited in the month they were issued and so the compared balances will be different.

Line Explinations:

1.) At the beginning of the year, you need to record the exact amount of money that is in the bank account (which should match up with the previous year’s ending balance). Put the beginning balance amount in the revenue column.

2.) This entry is a basic recording of an expense, postmail. Other expenses include supplies and chapter approved expenses.

3.) This shows an entry made from a specific committee. The account name should just be the name of the committee like “Hospitality” or “Membership”.

4.) Membership fee entries should only represent one member’s check to the club, corresponding with their invoice. It is important you put the total amount that the club takes in, not the difference between Headquarter’s fees and student chapter fees.

5.) This line should be inserted at the time you receive the bank statement. The actual amount in the bank account should be recorded next to the income statement, not in the revenue column. At this time, you should double check that all the deposits and expenses made from the previous balance adds up to the correct amount. This is one way for you to check that all the numbers were recorded correctly.

6.) Simply use the account title “Fundraiser” in the description. It is not necessary to state which specific fundraiser it is from, that should be described on the invoice.

7.) Headquarter fees can have several member fees combined into one large check. The expense can start at $45.00 and up. We record this as an expense separate from the membership fees because the checks are often deposited and issued at different times. This will also record the revenue the club receives…we add $50.00 but only take out $45.00 per member.

8.) All reimbursements for conference registration should be given timely, as it is a big investment for the members. The reimbursement can only be issued when you have a copy of their registration receipt which should also be stapled to the invoice. Write “Not Issued” next to an entry that you have not yet deposited or issued a check for.

9.) Just as a tip, leave a blank line before the totals. When you need a new line, right click on the left-most cell # in excel and click insert. This way, a new line will be inserted with the same cell structure as the blank line. Otherwise, you will have to re-do the cell outlines all the time.

10.) Total the expenses and revenues separately

11.) The final balance should match up with what the current balance is in the bank account, not including what entries are “not issued” and what checks have not yet been deposited. Make sure to verify that these balances are correct so you do not accidentally over withdraw the account.

Section 4

Budgeting

NAU CMAA
2004 Budget
Item / Specific / Budget / Actual / Variance / Balance
Beginning Balance / $ 256.51 / $ 256.51
Revenues
Fundraising / Halloween ins. / $ 215.00 / $ 50.00 / $ (165.00) / $ 306.51
Forest Highlands / $ 350.00 / $ 180.00 / $ (170.00) / $ 486.51
Coldstone/Raffle / $ 85.00 / $ 207.52 / $ 122.52 / $ 694.03
School Funds / ASNAU / $ 300.00 / $ 835.00 / $ 535.00 / $ 1,529.03
Membership income / $5 per member *22 / $ 110.00 / $ 80.00 / $ (30.00) / $ 1,609.03
Club Foundation Grant / $ 66.00 / $ 66.00 / $ - / $ 1,675.03
Other / Donation / $ - / $ 295.00 / $ 295.00 / $ 1,970.03
Total Revenues / $ 1,126.00 / $ 1,713.52 / $ 587.52
$ 1,970.03
Expenses
Hospitality Committee / $ 80.00 / $ 54.61 / $ (25.39) / $ 1,915.42
Membership Committee / ($45 membership raffle) / $95.00 / $ 69.70 / $ (25.30) / $ 1,845.72
SIYC / $ 100.00 / $ 10.81 / $ (89.19) / $ 1,834.91
Conference Committee / (12ppl w/ free reg) / $1,430.00 / $ 1,040.00 / $ (130.00) / $ 794.91
Accomodations / $ 400.00 / $ (400.00) / $ 794.91
IT (Technology) Committee / $ - / $ - / $ -
Postmail / Chapter Mailings / $ 80.00 / $ 25.47 / $ (54.53) / $ 769.44
Chapter Supplies / $ 50.00 / $ 33.33 / $ (16.67) / $ 736.11
Chapter Dinner / $ 100.00 / $ (100.00) / $ 736.11
Approved Chapter Expenses / $ 150.00 / $ 121.57 / $ (28.43) / $ 614.54
Total Expenses / $ 2,485.00 / $ 1,355.49 / $ (869.51)
Final Balance / $ 614.54

This is a copy of the 2004 budget. Some of the committees and organization might be different than it is in the current year. It is essential to keep the budget organized and very easy to follow. It is recommended to take the format of this budget and apply it to the current year. The information given to you by the President may or may not be in an organized spreadsheet format. It is up to you to format the budget so you (especially) and others can understand it.

-Enter the budgeted amount for each fundraiser, committee and chapter expense. As the year progresses, enter the exact amounts under the “actual” column.

-Program the variance column to subtract the actual amount from the budgeted amount. This variance amount is good information for you and the President to consider. You can see how far off you are from the original goal, or be able to notify a specific committee chair that they have almost used up their budgeted expenses.

-You can choose to set up the “Balance” column. If you start with the beginning balance and program the cells to add or subtract from the “Actual” column you can monitor how the balance progresses. The ending balance should then also match up with the final balance on the sheet as you can see in the above budget, both numbers are $614.54.

-Beginning Balance: It might help you to include the beginning balance at the top of the budget. This should certainly be the same beginning balance as on the income statement. The number below the “total revenues” cell ($1,970.03) is the revenues added to the beginning balance. If you choose to calculate this number, it will help you match up and compare to the total revenues you have on the income statement.

-Final Balance: This is the amount of money the budget expects the bank account to have which should also compare to the final balance on the income statement.

-When considering the budget for next year, look at the variances that the current year had. Perhaps some committees do not require as much money as were budgeted to them. Or, maybe you expect those committees to be more active and therefore require at least as much or more than the previous. Work closely with the President in developing the new budget. Make sure that both of your expectations and visions for the next year are explained and understood.

Section 5

Checks & Measures

Total Expenses
Actual / Budget
Membership / $ 69.70 / $ 95.00
Hospitality / $ 54.61 / $ 80.00
SIYC / $ 10.81 / $ 100.00
Conference / $ 1,040.00 / $ 1,430.00
Postmail / $ 25.47 / $ 80.00
Chapter Expense / $ 121.57 / $ 150.00
Supplies / $ 33.33 / $ 50.00
Total: / $ 1,355.49 / $ 1,985.00
Total Revenues
Actual / Budget
Fundraising / $ 257.52 / $ 300.00
Golf Tournament / $ 180.00 / $ 350.00
ASNAU / $ 835.00 / $ 300.00
Club Grant / $ 66.00 / $ 66.00
new members / $ 80.00 / $ 110.00
Other / $ 295.00
Total: / $ 1,713.52 / $ 1,126.00
Variances:
Expenses: / $ -
Revenues: / $ -
Final Balance: / $

Above are two tables that were created to be an intermediary between the income statement and the budget. Checks and Measures refer to setting up different ways to make sure that all your numbers compare between the statements and the bank account. The more checks you follow, or set up yourself, the easier it will be to keep the numbers organized and information correct.

Although the statements can be put in separate excel files, it is recommended to locate them with the above tables in the same file. The reason to do this is that you can link cells to each other so that every time you make a change, the change will automatically occur in the budget. This will save you time for individually entering numbers all the time and making mistakes (which is surprisingly easy to do).

Each table lists in rows all the same accounts that are on the budget with a column for the budgeted and actual amounts. As you make new entries into the income statement, you can click on the cell in these tables and simply add the new amount. Then if you link the according budget cell to the table cell, it will automatically change. If you need help doing this, ask an advisor or someone familiar with excel to help. Here is an example:

NAU CMAA
Total Expenses / 2004 Budget
B / C / D / E / F
Actual / Budget / Item / Budget / Actual / Variance
2 / Membership / $ 55.00 / $ 95.00 / Expenses
3 / Total: / $ 55.00 / $ 95.00 / 4 / Membership Committee / $95.00 / $ 55.00 / $ (40.00)
5 / Total Expenses / $ 95.00 / $ 55.00 / $ -

The following shows the excel code that should be in each cell as labeled above. This should give you an idea how they are connected:

2B:B25+B28+B34

(This is the adding of expenses made by the membership committee from

the cells they are entered in from the income statement)

2C: =D4

(The amount should be entered from the budget cell so that you only need to change one cell)

3B: The sum of the B column

3C: The sum of the C column

4D: amount previously entered

4E: =2B

(This is where you benefit the most, so that you only have to add additional amounts to cell 2B

like above, and then the budget will automatically change)

4F: =4D-4E

The variances of the total expenses, revenues and final balance should then be calculated to assure all the numbers match up. If you were to do this for the expenses the cells should look like:

=5E-3B

SECTION 6

Committee Expense Reports

Membership Committee Expense Report
Date / Receipt price / spender / Reason / Total
Budget / $ 95.00
Total

To the right is a copy of a Committee Expense Report. There should be an excel file with pre-made ones located with the rest of the treasury files. This a basic design and can be changed to meet your needs.

Each committee chairperson should receive a copy of this expense report and record on it for all of their spending. This is in addition to submitting their receipts to you.

Remind and check with the chairpersons on occasion to make sure that they are keeping it up to date

The purpose of this report is to make sure that all expenses our members incur are repaid. Also it is an additional match up tool to compare the total expenses on the budget to actual amounts.