Treasurer

Each House shall have its own duly elected Treasurer. The Treasurer must be a resident of the particular house, and shall serve for a term not to exceed six months. An individual may not succeed him/herself in the same office; however, he/she may be elected to the same office after a period of six months has elapsed.


DUTIES

The Treasurer's position is both the most important position in the house and the most difficult.  It would be best that anyone elected to the Treasurer position should already have experience as the Comptroller.  Together with the President, Comptroller and a RAP staff member, the Treasurer shall meet once a month after receiving the checking account statement, to fill out the Monthly Reconciliation Form. The Treasurer shall post the findings of the form on the house message board for the other members of the house to examine.


The Treasurer is essentially responsible for all money paid out of the bank account while the comptroller is responsible for all money being paid into the bank account.


BASE FORMS


There are three forms that need to be filled out before July of each year.  They form the basis for all house budgeting.  They are:


The Budget:

 The Treasurer needs to make out an initial budget (see budget form) showing expected expenditures during the year.  This can be done by looking at last year's bills to determine expected payments.  This is only made out once in a year and is kept to compare against actual costs.


The Cashflow:

The Budget tells the House what it expects to spend in the next year.  The Cashflow tells the House whether it can afford the expected expenditures.  It also predicts when the House might have problems.  It is initially filled out in pencil with the numbers from the budget.  Revenue should be filled out in pencil as the EES for the number of rooms minus one.  Then as the year goes on and there are actual figures, the numbers need to be changed and actual numbers put in using pen.


The value of this form is that it can predict when there might be problems, allowing the House time to plan for dealing with the problems.  This form gives the House CONTROL!


Bill Payment Schedule

The payment schedule is a schedule of all the regular bills and their payment due dates and the mail-by date.  This should be made out annually in June for the next year.


ON-GOING MONTHLY RESPONSIBILITIES


Checkbook:

The Treasurer has custody of the checkbook and is responsible for bringing it to each house meeting.


Bills:

Keeps a running list of all the bills and when they are due to be paid on the Treasurer's Report kept weekly.


Deposits and Bank Deposit Ledger

The Treasurer keeps the deposit book and is responsible for all deposits.

She receives checks and/or mail orders from the Comptroller which are stamped "for deposit only," makes out a deposit form with a carbon and mails or takes the deposit to the bank.  All EES payments must be in the form of money orders.  No checks or cash.

She keeps a running list of all the deposits on the Bank Deposit Ledger.  She also lists deposits on the Treasurers Report (kept weekly.)


She makes the deposits.


Weekly House Treasurer's Report

Fills out the Weekly House Treasurer's Report before the weekly meeting.  To do this, she needs to start out with the account balance from the previous week.


Preparation for Monthly pre-Chapter Meeting

In preparation for the Chapter meeting she/he meets on the Friday before the Chapter meeting, with the President and Comptroller to help fill out:

    • The House Monthly Financial Report ,and
    • The Chapter Monthly Report.

To do this, she/he will have to have completed the Monthly Bank Account Balance prior to the meeting.


Filling out the Monthly Bank Account Balance requires the checking account statement which RAP will provide at the first of the month.


The timing of the pre-Chapter preparation process goes like this:

    • On the first or second of the month, RAP will send the bank account statement to the House.
    • The Chapter meeting will be on the Sunday of the first full week of the month, not the first Sunday.  This is to give houses time to prepare for the meeting.
    • The Treasurer will fill out the Bank Account Balance form.
    • On the Friday before the Chapter meeting, the Treasurer will meet with the President and the Comptroller to fill out the House Monthly Financial Report and the Chapter Monthly Report.


Weekly Business Meeting

Meets with the Comptroller and the President before the weekly house meeting.   During the meeting, the Treasurer:

    • Receives money orders from the Comptroller and makes out Weekly Deposit Ledger.
    • Opens all bills, records them on the Weekly Treasurer's Ledger and paper clips them with their return envelopes on the back of the ledger.
    • Fills out Weekly Treasurer Report.  She writes in the bills that are going to be paid that week on the Weekly Treasurer's Report and staples the Weekly Deposit Ledger to the back of the Treasurer's Report.


At the Weekly House Meeting:

    • Explains which bills are due to be paid and say whether the house has the money to pay them.
    • Prepares the checks for signature after the house has voted on which bills to pay.
    • Can not be one of the duly authorized officers designated to sign checks.
    • Receives from the Comptroller a filled out deposit slip and will confirm that the slip is correct.  Then the Treasurer makes the deposit.  Notes the deposit on the Deposit log.
    • The Treasurer shall report on the financial status of the house at each meeting:
    • Review the budget and where expenses have deviated from the budget.
    • Review the cash flow and explain cash position of the house (whether they will be able to pay the bills),
    • Review the bills that need to be paid,
    • Provide the Secretary with:
        • Beginning balance,
        • How much money came in,
        • How much needs to be paid in bills, and
        • The ending balance.


SUMMARY:

The Treasurer needs to fill out the following forms:

Annual Basis:

Budget

            The Budget is made out once a year in June.

Bill Payment Due Date Schedule

Cashflow

Made out once a week in June but updated monthly

On- Going Basis

            Deposit Ledger

Weekly Meeting

            Weekly House Treasurers Report

Monthly:

            Bank Account Balance

            This requires the bank statement

            Update Cashflow




Treasurer Responsibilities & Forms

Treasurer Procedure.pdf 85.4KB Oct 23, 2013 7:43 AM
Calculate EES.pdf 51.4KB Oct 16, 2013 3:40 AM
Balance Checking Account.pdf 419.8KB Oct 16, 2013 3:40 AM
Budget Form.pdf 60.9KB Oct 16, 2013 3:41 AM
Cashflow Form.pdf 77.7KB Oct 16, 2013 3:42 AM
Bill Payment Schedule.pdf 34.5KB Oct 16, 2013 3:43 AM
Bank Deposit Ledger.pdf 42.5KB Oct 16, 2013 3:44 AM
Weekly House Report.pdf 55.6KB Oct 16, 2013 3:44 AM
Monthly Bank Account Balance.pdf 60.4KB Oct 16, 2013 3:45 AM