WELCOMES YOU ALL

to

DTS 201316TH June, 2013

LALA LAJPATRAI COLLEGE

The Khadus Trio !!!

What are we here for ?

1. To discuss the current financial situation of India

2. To discuss about the Current Account Deficit of India

3. To discuss about the current fall in Price of gold

Are we here to discuss about :

The answer is a Big NO !!!

We are here to discuss about…

How to Manage Finances in your

respective Rotaract Clubs.

Things which we are going to focus on today :1. Understanding, what is Finance ??

2. To Understand why are you the Finance Director??

3. Understanding the Roles and Responsibilities of an Finance Director:

- Towards your own Club

- Towards the District and Parent Rotary

4. Understanding functioning of your own Club

5. Club Financial Tools

6. Budgeting

7. Income and Expenses

8. Handling Big Projects

9. Things to remember

What is finance ?“Finance... is like a beautiful thoroughbred horse - very powerful & always in

action, but unless this horse is trained when very young, it will be an out-of-control

& dangerous animal when it grows to maturity.”

- Dave Ramsey

Why are you the finance director of your club ?

You are the finance director of your club, because :

1. You are the most responsible Rotaractor in your club

2. You are the most trusted Rotaractor in your club

3. You are the most systematic Rotaractor in your club and good with keeping and

records

OR….

4. You are your Club Presidents…best friend, boyfriend, girlfriend, etc…..!!! (We hope, that’s not the case !)

1. YOU are the one who is responsible for maintaining up-to-date accounts of the

club

2. YOU are the one who has to audit them on timely basis

3. YOU are the one who has to help the club in cost cutting

4. YOU are the one who has to work with all the avenues on different ideas for

raising funds

5. YOU are the one responsible with president for coordinating with bank

Being a Finance Director:

Roles and Responsibilities

Towards your club:

1. Managing funds

2. Developing a budget

3. Paying bills and keeping accurate accounts

4. Reporting on the state of your club’s finances in Meetings

5. Collecting Club Dues

6. Regular Analysis on Monthly Transactions (Income and Expenses)

during the Board of Directors Meeting at least once in a month.

Roles and Responsibilities

Towards District and Parent Rotary:

1. Ensuring Proper Bank Records, Authorized Signatories and proper maintenance of all

the books and also submitting the same to district at regular time intervals (e.g.

Quarterly Basis)

2. Informing Parent Rotary about the financial status of the club on timely basis.

3. District Dues :

- All clubs must pay the District Dues (@ Rs.50 per member) for the year 2013-14 to the

Chairman Finance or District Finance Director not later than 30th September, 2013

- Charter clubs / Reviewed clubs should pat the District Dues for the year 2013-14 to the

Chairman Finance or District Finance Director – not later than 30th November, 2013

- Cheques / Demand Drafts to be issued in favour of 'ROTARACT DISTRICT 3140 -

DISTRICT DUES’ (ALL CHEQUES SHOULD BE AS PER CTS-2010 RBI GUIDENCE)

4. The Clubs who do not fulfill the above criteria will not be eligible for:

- Any district award / citation for the Year 2012-13

- Nominating any candidate from the club for the post of DRR

- Voting rights in the election for the post of the DRR

- Any such facilities or benefits that the district may provide from time to time

Functioning of your Club

1. Community Based Clubs and Institution Based Clubs

2. Defined System & Finance Procedures

3. Separate Article Regarding Finance in Club Bye-Laws

Budgeting

TOTAL FUNDS = LAST YEAR FUNDS + CURRENT YEAR SUBSCRIPTIONS

+ CURRENT YEAR SPONSORSHIPS

ACTUAL FUNDS = TOTAL FUNDS – CURRENT YEAR ADMINISTRATIVE

EXPENSES - CURRENT YEAR EXPENSES –

CURRENT YEAR RESERVES

Income & Expenditure SheetAdministrative Expenses:

1. Club

-Merchandise

-Printing

-Minutes, Attendance, Receipt, and Voucher books

-Mementoes

2. District

-Dues

-Mementoes

Income & Expenditure Sheet

Income & Expenditure Sheet for a normal project may look like:

Propsed Budget

for the XXX ProjectIncome Expenditure

Sources of Funds Allocation of Funds

Particulars Amount Particulars Amount

Sponsorship Venue

Rotary Creatives + Printing

Stationary

Trophies

Hospitality

Sundry Expenses (Tips, Travelling,etc.)

TOTAL 0 TOTAL 0

PROFIT / LOSS TO CLUB =TOTAL INCOME - TOTAL EXPENDITURE

Income & Expenditure Sheet

Income & Expenditure Sheet for a BIG Project may look like:

Propsed Budget

for the XXX Big ProjectIncome Expenditure

Sources of Funds Allocation of Funds

Particulars Amount Particulars Amount

Registration Venue

One Day Pass Creatives + Printing

DJ + AV

Two Day Pass Stationary

Stage and Other Setup

Sponsorship Trophies

Hospitality

Sundry Expenses (Tips, Travelling,etc.)

T-shirts

TOTAL 0 TOTAL 0

PROFIT / LOSS TO CLUB =TOTAL INCOME - TOTAL EXPENDITURE

HANDLING BIG PROJECTS

Things to be kept in mind while Managing Funds for Big Projects:

1. Preparation of Budget - Plan A & Plan B

2. Use Financial Tools for Convenience

3. Create an Attractive Marketing Proposal

4. Raising Funds through Sponsors

5. Follow ups with Sponsors

6. Maintaining data base of Sponsors

5 THINGS TO BE REMEMBERED

1. Signatories

2. Sign Off and Flag Off

3. District Dues And Id Card Dues

4. Regular Account Settlement (Always Keep A Small Pocket Size Diary)

AND LAST BUT THE MOST IMPORTANT

5. Don’t put a buck from your pocket and don’t spin

the money.

THANK YOU…

The District Finance Team 2013-14:Rtr. Devanshi Nanavati : +919773473541

Rtr. Pankaj Samtani : +919819494154

Rtr. Akshay Mehta : +919819343567