March 9, 2013

Presented by:Helen Maxwell

District Treasurer 2013-2014District Treasurer 2011-2012

District Rotary Foundation Stewardship Committee Chair 2013-2014

A discussion of the role and

the responsibilities

Manage Club funds

Collect and submit dues and fees

Report on the state of your Club’s finances

Develop a budget

Reports and Filings

Work with The Rotary Foundation

Prepare your successor

•Ensure that all collected funds and expenses are accurately documented.

•Provide members with receipts for their dues and donations

•Record any transactions, including club purchases, in a ledger

•An electronic accounting program such as Quicken or QuickBooks will automate many of the tasks

•Consult your club’s outgoing Treasurer to find out which software was used, if any.

•Rotarians are required to pay dues to their club, district and RI

•Club dues vary by club• Track member payments and send reminders to members that have

not paid

•District dues - 2013 – 2014• $945 - $985 per club plus $49.42 per member

•RI dues:• $71.93 per member

•Issue monthly reports to your club’s board• Report income and expense and status of fundraising events

•Detailed annual report to club members

•Your club’s financial activity should be reviewed annually by a qualified accountant or club finance committee

•In some cases, treasurers may be responsible for filing tax returns for the club

•Review club’s financial history to determine sources of income and areas of expense

•Meet with the President-elect and other board members to discuss their plans for the year

•The income and expenses included in the budget should be broken into two categories:

• Club operations• Charitable funds

•Discuss establishing a reserve fund for unexpected expenses

•Income Tax Returns – IRS Form 990• Due November 15 for year ending June 30

•Secretary of State filing - $20 – every 2 years• http://www.sos.ca.gov/business/corp/pdf/so/corp_so100.pdf

•State Attorney General filing – $ 0 to $ 75 – annually• http://oag.ca.gov/sites/all/files/pdfs/charities/charitable/rrf1_form.pdf?• Due November 15 for year ending June 30

•The Rotary Foundation is the charitable arm of Rotary International

•Supported solely by voluntary contributions from Rotarians and friends of the Foundation

•As Treasurer you will likely work with the Foundation Chair of your club and submit donations to The Rotary Foundation

•All donations to The Rotary Foundation should be accompanied by TRF Contribution Form (123) or the Multiple Donor Form (094)

From:Rotary.orgForm 123

From:Rotary.orgForm 094

•2013 – 2014 is the first year of the NEW grant program of The Rotary Foundation

•Our District will be able to request up to 50% of our District donations to the Annual Programs Fund three years prior

•Clubs will be able to receive up to $5,000 in matching funds from the District for community and international projects – previously District Simplified Grants were limited to $1,500 per club

•If your club receives a grant, they are responsible for ensuring good stewardship of the funds and following ALL reporting requirements

The Treasurer will have the responsibility of working with other board members to furnish receipts AND copies of cancelled checks to support monies spent on District Grants

•Responsible for bank accounts, deposits and withdrawals

•Exercise good stewardship of Club and Rotary Foundation monies

•Member billing and dues collection

•Develop a budget with other Club officers

•Report on the state of your Club finances

•File necessary reports with State and Federal government

•Work with the Rotary Foundation

•Prepare your successor

QUESTIONS?

DISCUSSION