The responsibilities of the Treasurer include the following:
- Receive payments, such as membership dues, raffle quilt receipts, accept receipts for reimbursement of member-paid expenses, and present to the membership a current financial report at Guild meetings.
- Deposit funds in the Guild Wells Fargo bank account, making copies of all checks prior to their deposit.
- Issue checks in payment of invoices for Guild expenses such as insurance, and fair venue fees.
- Issue checks to reimburse Guild members for expenses incurred while performing committee duties. To be reimbursed, a member must fill out a reimbursement form and attach a receipt for items or services within 30 days of transaction date. If a request for reimbursement is not covered, or exceeds, budget line item(s), the Executive Committee must approve the reimbursement. If the Committee feels it necessary, the request can be brought before the membership for approval.
- Provide $100.00 cash, in small bills, for the cash box as required for raffle ticket sales at fairs, and auction.
- Balance the Guild records with the monthly bank statements.
- Prepare a monthly financial statement to be presented to the Guild at the monthly meeting.
- Provide the prior month’s financial statement for inclusion in the monthly newsletter (due to the timing of the bank monthly statement and the issuance of the newsletter).
- Maintain a set of records of all Guild financial activity for use in the annual audit.
- Work with Secretary to update membership directory.
- Order 5,000 raffle tickets, oversee their distribution, and log sales
- Prepare and submit application forms for fair venues
- Prepare and submit next year’s budget after soliciting input from the Executive Board and all committee chairs.
- Ensure that a copy of the most recent asset inventory is kept with the Guild’s financial records, as these items constitute Guild assets.
Timeline for annual activities of the Treasurer are as follows:
|Jan – March||Receive membership dues.
Work with secretary to update membership directory.
Liability insurance premium due.
Order raffle tickets.
|May||Prepare and submit application for Waterford Fair.|
|June||Post office box rental fee is due $58.
Website and domain renewal fee due (renew every 3 years) last paid in 2016.
|July-August||Prepare applications for Lucketts Fair, Bluemont and Lovettsville Oktoberfest Fair.
Begin working on next year’s budget.
|Discuss proposed budget with the Executive Board.
Present proposed budget via the newsletter or Town Crier and at a general meeting.Issue check for Virginia Quilt Museum membership dues of $100.
|October||Deposit for Fall Retreat.
Present final budget at the October monthly Guild meeting for vote.
|November-December||Make donation(s) to fair venues as required.
Issue check to Waterford Foundation for next year’s rent.
Prepare books for audit.
Treasurer will include the following in Cash Disbursement Log and Hard Copy of Receipt:
- Budget line item
- Check number
*Receipts must be submitted to the Treasurer within 30 days of transaction date. Request for reimbursement should include the reason for the expense and the committee/budget line item. A reimbursement form should be completely filled in with the receipt attached. Items for reimbursement should be clearly identified on the receipt.
**Funds may be allocated across budget line items by the Board and the membership notified.
**Committee chairs and Treasurer should identify when spending for a budget line item is accelerating disproportionately. Committee chairs should notify the Board when expenses are expected to exceed the budget line item by ____%, allowing the Board to re-allocate budgeted items if necessary.