District 7570

District 7570

Financial MattersRon Ferrill, District Treasurer

2014 PETS

District 7570 PETS 2014

Financial Matters

Clubs in D7570 need to tend to financial requirements


Financial Matters

Why should a Club President have to worry about such matters?

“There is a Treasurer who takes care of all financial details”, butClub President is ultimately responsible for all matters in the club – to assure that all matters are handled properly and in a timely manner


Financial Matters

Two Areas of Focus• Rotary International• District 7570


Financial MattersRotary International

Semi-Annual Dues (i.e. twice a year – every six months)Components (2013 MOP RI Bylaws art. 17):

- Dues > $27.00 per member - 10 member minimum & prorated for part year

- Rotarian Magazine > $6.00 per member

- Liability Insurance > variable rate for clubs

$0.11 per member for Martinsville RC

- Council on Legislation fee > $1 per member per year, payable July 1


Financial MattersRotary International

Other considerations- Membership as of June 1 & December 1

- Payments due July 1 & January 1Methods to pay:

- Invoice mailed to club secretary, develop worksheet, mail in worksheet with check, or - Go to www.rotary.org (member access) - assure accuracy of roll & review invoice - pay on line by credit card or print invoice and mail,

with check. Also, mail in worksheet


Financial Matters

District 7570 One payment > $23 per member plus

$35 per club for database/website

maintenance fee

No connection with RI Semi Annual Dues


Financial Matters

District 7570 Procedure:

Membership as of September 30Invoice to club Treasurers by November 1 (Pmail) –

copy to Presidents and SecretariesPayment due December 1If payment not received by January 1, 5% penalty

addedAuto debit option available


Financial MattersRotary District 7570 Enrollment of Clubs in Electronic Dues PaymentsClub Responsibilities:1. Complete “Authorization to Collect Dues via electronic Debit” form and secure Club Board of Directors approval

2. President and Treasurer must sign completed “Authorization to Collect Dues via Electronic Debit” form

3. Attach a “voided” check or deposit ticket to the completed form

4. Mail or email completed form “voided” check or deposit ticket to the District Treasurer: Ron Ferrill, 917 Hunting Ridge Road

Martinsville, VA 24112-5619 Email:

[email protected]


Financial MattersElectronic Dues Payments (cont)Club Responsibilities: (cont)5. Club Treasurer to maintain a copy of transmitted form for Club files.6. Club to make certain funds are in account to be electronically debited on or before December 1st.7. “Authorization to Collect Dues via Electronic Debit” instruction will

remain in force until Club rescinds the authorization.8. New form must be completed and transmitted whenever Club changes bank accounts - inform District Treasurer whenever banking accounts change.


Financial MattersElectronic Dues Payments (cont)District Responsibilities:1. Send Club President, Secretary, and Treasurer annual invoice for

Club Dues in October.2. Send notifications to Club President and Treasurer when electronic

debit will be charged to the Club’s bank account. 3. Execute electronic debits to Clubs’ bank accounts via District’s

banking organization.4. Follow up with Clubs that have insufficient funds to cover electronic

debit.


Financial Matters

Club Enrollment To DateBuchanan Russell County Bridgewater

Wytheville Morning Bluefield Woodstock

Bristol Morning Clarke County New Market

Floyd County Johnson City Radford Noon

Rocky Mount Woodstock Buena Vista

Greeneville Morning Strasburg Forest

Abingdon Bedford


Financial Matters

Questions?

District 7570

Documents

Transcript of District 7570