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© 2012 Regents of the University of Minnesota. All rights reserved. The Treasurer Training 4-H CLUB OFFICERS AND ADULT LEADERS Updated 11/12/14 Created.

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Presentation on theme: "© 2012 Regents of the University of Minnesota. All rights reserved. The Treasurer Training 4-H CLUB OFFICERS AND ADULT LEADERS Updated 11/12/14 Created."— Presentation transcript:

1 © 2012 Regents of the University of Minnesota. All rights reserved. The Treasurer Training 4-H CLUB OFFICERS AND ADULT LEADERS Updated 11/12/14 Created by Deb Hadley, Extension Educator with support from 4-H Program Coordinators Carolyn Dingfelder, Alisa Mangen, Kelly Chadwick, and Kristin Krell

2 © 2012 Regents of the University of Minnesota. All rights reserved.

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4  1-2 inch 3 Ring Binder  Tabs: Total –October – September –Chartering Documents –Club Treasurer Manual & Activity Workbook –Fundraising –Bank Statements/Reconciliation Forms (optional) –Previous year Treasurer Book (optional) – Good to have as a reference and for reconciling the checking account.  Clear Sheet Protector to hold receipts/cash  Triplicate Receipt Book  Optional: clear tub large enough to carry all supplies  Office Supplies –Stapler, post-it notes, paper clips, 3 hole punch, calculator, pens/pencils Bottom of Page 2 Show Treasurer Book

5 © 2012 Regents of the University of Minnesota. All rights reserved. Instructor needs to hand out Worksheet Packet

6 © 2012 Regents of the University of Minnesota. All rights reserved. Excel Checkbook Ledger Itemized Income Form Monthly Reconciliation FormMonthly Treasurer Report Top of page 3

7 © 2012 Regents of the University of Minnesota. All rights reserved. Activity Book Page 3

8 © 2012 Regents of the University of Minnesota. All rights reserved.  Adult Advisor – Who is this? –If your parent you will need a verifier check your work every month, including the bank statement. The verifier must sign checks over $250. –Always make sure you protect yourself by having someone else review your work.  Signature Card at Bank – Are you on it? –If not, you will need to go sign at the bank. You may need the minutes from the meeting showing you are the new treasurer.  Look at the Annual Review –Make sure you have the right starting balance and the bookkeeping was done correctly by the previous treasurer.  Budget Planning Meeting –Make sure this has taken place and you have a budget to work with. Activity Book Page 4

9 © 2012 Regents of the University of Minnesota. All rights reserved. Page 4 Youth Treasurer must be on the signature card Youth Treasurer Must be in 6 th Grade or older. Additional youth signer Recommended in case youth treasurer is not available. Must be in 6 th grade or older. Adult Advisor Can be parent or living in same household as the youth. If this is the case all checks over $250 must be signed by the Adult Verifier. Adult Verifier Cannot be related to the youth treasurer or adult signer. Must also be on the signature card to sign all checks over $250. The verifier MUST review all bank statements and work of the youth treasurer and sign the excel checkbook ledger document for accountability.

10 © 2012 Regents of the University of Minnesota. All rights reserved. Form B – MN 4-H Annual Club Financial Report Form C – Club Proposed Budget Form D – Annual Review (2 pages) Chartering Documents Activity Book Page 6

11 © 2012 Regents of the University of Minnesota. All rights reserved. You are the new treasurer for the Lucky Clovers 4-H club. You just received the checkbook from the previous treasurer, organized your new treasurer book and downloaded all of the treasurer documents that you found on the 4-H website. Step 1: Form B  Review the MN Annual 4-H Club Financial Report Form from the previous treasurer Page 7

12 © 2012 Regents of the University of Minnesota. All rights reserved. READING THE MN 4-H ANNUAL CLUB FINANCIAL REPORT Answer the follow questions using the MN 4-H Annual Club Financial Report and the September excel checkbook ledger 1.What is the ending checking account balance in the MN 4-H Annual Club Financial Report? 2. What is the ending savings account balance on the MN 4-H Annual Club Financial Report? 3. Does the ending balance in the checkbook ledger on the right match the Ending Checking Balance on the MN Annual Club Financial Report? 4. What will be the beginning checkbook balance on October 1, 2104 when you start your term? 5. Take Worksheet #1, excel checkbook ledger and write your new starting balance for 10/1 in the blue box at the top of the form. Page 7

13 © 2012 Regents of the University of Minnesota. All rights reserved. 1.What is the ending checking account balance in the MN 4-H Annual Club Financial Report? $ What is the ending savings account balance? $ Does the ending balance in the checkbook ledger match the ending Checking Balance on the MN 4-H Annual Club Financial Report? Yes 4.What will be the beginning checkbook balance on October 1, 2014 when you start your term? $ Take Worksheet #1, excel checkbook ledger and write your new starting balance for 10/1 in the blue box at the top of the form.

14 © 2012 Regents of the University of Minnesota. All rights reserved. Approving the Club Proposed Budget 1.What is the total proposed income? 2.List one proposed expense. 3.What is the beginning balance? 4.Does the beginning balance match Box F on Form B? Page 8

15 © 2012 Regents of the University of Minnesota. All rights reserved. 1.What is the total proposed income? $770 2.List one proposed expense: - All meeting expenses, club outings, service learning…. 3. What is the beginning balance? $ Does the beginning balance match Box F on Form B? Yes

16 © 2012 Regents of the University of Minnesota. All rights reserved. HANDLING INCOME The following club meeting scenario will be used in the next 3 experiences: You are at your club meeting on October 7 th. During the meeting the club decides to go bowling as a club activity.  The cost will be $12 per person for bowling and pizza.  It is moved and seconded that your club will pay half of the cost ($6.00 per person) for members and their family who want to participate.  The bowling alley requires one check for the full amount be paid the day of the bowling event.  Each member who wants to participate will need to pay $6.00 to the club before the event. Bottom of Page 8

17 © 2012 Regents of the University of Minnesota. All rights reserved. Top of page 9

18 © 2012 Regents of the University of Minnesota. All rights reserved. Page 9

19 © 2012 Regents of the University of Minnesota. All rights reserved. Where do the copies of the receipt go? (Look at the receipt above ) Original Copy – Keep original in the receipt book Yellow Copy: Give to the customer Pink Copy: Attach to your records – excel checkbook ledger

20 © 2012 Regents of the University of Minnesota. All rights reserved. RULES FOR PAYING EXPENSES  All expenses must be paid in the form of a check. Never use cash when paying a bill or making a purchase.  All expenses must either have prior budget approval or be approved by a motion at a club meeting before being paid. Approved annual budget and motions must be recorded in the secretary’s minutes.  Be sure there is enough money in the checking account to cover the checks that are written.  Always have a written bill, invoice, statement or receipt that creates a paper trail before writing the check.  Always do your bookwork in a timely manner! Top of page 10

21 © 2012 Regents of the University of Minnesota. All rights reserved. Page 10

22 © 2012 Regents of the University of Minnesota. All rights reserved. Page 10

23 © 2012 Regents of the University of Minnesota. All rights reserved. EXPERIENCE 1: WRITING A CHECK Use the receipt below to write out a check to Kenmore office Supply Note Make sure you review the receipt to make sure all purchased are for 4-H and not personal use. Write the purpose of the receipt on the receipt. Put receipt in your clear sheet protector or your money pouch until you run of the excel checkbook ledger at the end of the month. Then staple the receipt to this form. Do not pay expenses if you were not given a receipt. Questions 1.Who will sign the check? 2. Write the purpose for the check on the receipt and the check number. Bottom of page 10

24 © 2012 Regents of the University of Minnesota. All rights reserved. 1.Who will sign the check? The youth treasurer and adult advisor 2.Write the purpose and check number on the receipt. Purpose: Treasurer Supplies Check Number: 103

25 © 2012 Regents of the University of Minnesota. All rights reserved. Page 12 Notice the tabs at the bottom of the excel checkbook ledger. There are tabs for each month October – September along with Chartering Documents: MN 4-H Annual Club Financial Report and the Proposed Budget. Each month the ending balance will transfer as the starting balance for the next month and the chartering documents will fill in automatically.

26 © 2012 Regents of the University of Minnesota. All rights reserved. RECORDING EXPENSES IN THE EXCEL CHECKBOOK LEDGER - YOU WILL NEED WORKSHEET #1 1.Record check 103 that you wrote to Kenmore Office Supply on the Excel Checkbook Ledger – Worksheet #1 What is the name of the column in which you wrote the check amount? 2.Subtract the amount of check 103 from the beginning balance on the Excel Checkbook Ledger. What is your new balance? Page 12 Worksheets #1 and #2

27 © 2012 Regents of the University of Minnesota. All rights reserved. 1.Record check 103 that you wrote to Kenmore Office Supply on the Excel Checkbook Ledger (Worksheet #1). What is the name of the column in which you wrote the check amount? Expenses – Amount of check 2.Subtract the amount of check 103 from the beginning balance on the Excel Checkbook Ledger. What is your new balance? $627.39

28 © 2012 Regents of the University of Minnesota. All rights reserved. UNDERSTANDING THE ITEMIZED INCOME FORM Reminder You will need an itemized income form for every deposit you make. It is the detailed report of where all of the money came from. You need to file this form, along with the bank receipt behind the month tab in which the deposit was made. 1.Record the check received from Mary Farmer and the cash from Larry Fields on the itemized income form. (Look at worksheet 2 which has a copy of the check and cash receipt). 2.Total the document. What is the total? 3.Read the steps in the bottom left hand corner of the itemized income form. 4.Print one copy for your record and one for the bank. Page 13 Worksheet #1 and #2 Instructor – If access you excel document and do activity together.

29 © 2012 Regents of the University of Minnesota. All rights reserved.

30 PREPARING AND MAKING THE DEPOSIT Bottom of page 13

31 © 2012 Regents of the University of Minnesota. All rights reserved. Page 14 Worksheet #1 and #2

32 © 2012 Regents of the University of Minnesota. All rights reserved.

33 1.Record the deposit in the excel checkbook ledger 2.Add the deposit to the previous ending balance. 3.What is your new balance? Bottom of page 14 Worksheet #1 Instructor – If access use excel checkbook ledger document and do this activity together. Experience 2: Recording the Deposit in the excel checkbook ledger

34 © 2012 Regents of the University of Minnesota. All rights reserved. Reminder!! At the end of the month you would run off this October Excel Checkbook Ledger and file behind the October tab. Attach all receipts for checks written out. File all Itemized Income Forms that match each deposit, with the deposit receipt attached, behind the excel checkbook ledger form. Make sure that the verifier ALWAYS reviews your work each month and signs the form. This must always compare your work to the bank statement for accuracy. If there is a mistake they verifier can catch it, and it will also protect you in case anyone accuses you of mishandling funds.

35 © 2012 Regents of the University of Minnesota. All rights reserved. Page 15

36 © 2012 Regents of the University of Minnesota. All rights reserved. Page 15 Worksheet #2 Note: If your bank statements don’t go from the 1 st of the month to the last day of the month, ask your bank if they can change your cycle. Note: If your bank statements end in the middle of the month you may want to have a “bank statement tab” in your treasurer book and file all bank statements and reconciliation reports behind this tab. What is the beginning checking account balance? What is the ending checking account balance? How many deposits are recorded on this banks statement? How many debits (checks written) are recorded on this bank statement?

37 © 2012 Regents of the University of Minnesota. All rights reserved.

38 Page 16 worksheets #1 and #2

39 © 2012 Regents of the University of Minnesota. All rights reserved. Worksheet #2 September excel checkbook ledger from the previous treasurer – Worksheet #1 October excel checkbook ledger – your work.

40 © 2012 Regents of the University of Minnesota. All rights reserved. Page 16

41 © 2012 Regents of the University of Minnesota. All rights reserved. 1.Date of Bank Statement: List the Date 2.Outstanding Deposits: (Upper left hand corner) List any deposits that are in the excel checkbook ledger, but not on the bank statement. Total A – add all numbers together. What is that total? 3.Outstanding Checks (bottom of screen) List any checks that are in the checkbook ledger but not on the bank statement Total B – add all numbers together. What is that total? 4.Steps to Reconcile/Bank Account (upper right hand corner) Record the ending balance from your paper checkbook ledger. What is that number? Record the number you have written in Total A Record the number you have written in total B Any bank fees? Any interest earned? Total – outstanding deposits + outstanding checks – bank fees + interest = adjusted balance. What is that number? This number needs to equal the bank statement ending balance; does it equal ? 5.File the bank statement and the reconciliation report behind the correct month or behind the corresponding tab. Page 17 Worksheets #1 and #2 Instructor – If access do this activity together using the excel document

42 © 2012 Regents of the University of Minnesota. All rights reserved.

43 Bottom of page 17

44 © 2012 Regents of the University of Minnesota. All rights reserved. Filling in the Monthly Treasurer Report Club Meeting Scenario: You are about to attend the November 12 th club meeting and you need to prepare the Monthly Treasurer Report. 1.List the meeting date: 2.Previous Meeting: October 7, Previous Meeting ending checking account balance 4.Previous savings account balance (look on worksheet #3) 5.Money received since last meeting (itemized income form #1) 6.Expenses paid since last meeting (excel checkbook ledger #1) 7.Closing Balance: (A) Beginning Balance + (B) Total Money Received – (C) Total Expenses Paid – Closing Balance 8.Sign the report Page 19 Worksheets #1 and #3 Instructor – If access use the excel document and do this activity together.

45 © 2012 Regents of the University of Minnesota. All rights reserved. Page 20 Read report together on Screen After you are done reading the treasurer report you will need to let the club know if there are any outstanding bills that need to be paid. For Example: “We have a bill from Ace Hardware for $43.24 for the Club Flower Box for county fair.” Ask the President to ask for a motion and have approval for payment before paying the bill. Make sure the Secretary has the motion recorded in the minutes. Note: If you don’t have monthly meetings you may want to file this report behind a “Treasurer Report Tab” instead of behind the monthly tab for easier access.

46 © 2012 Regents of the University of Minnesota. All rights reserved. Filing your Paper Work Each Month : At the end of the month run a copy of the excel checkbook ledger. Youth Treasurer – MUST review work and sign off on form. Adult Advisor – MUST review work and bank statements and sign off on form. Adult Verifier – MUST review work and bank statements verifying that all work is complete and balances match the bank statement! By following the process laid out above you will protect yourself from anyone ever accusing you of taking any of the money, and will help find any mistakes that may be made. Note: Companies lose money through embezzlement when only one person is keeping the record and reviewing the bank statements. Two sets of adult eyes can prevent anyone, even honest people, from taking money. Page 20 Worksheet #1

47 © 2012 Regents of the University of Minnesota. All rights reserved. Each Month you MUST file the following documents in your Treasurer Book!!! 1.Excel Checkbook Ledger – Signed All receipts that match each check written. 2.Itemized Income Forms – For each deposit made Make sure all deposit receipts are attached 3.Monthly Treasurer Report 4.Monthly Reconciliation Form and Bank Statement Not in book

48 © 2012 Regents of the University of Minnesota. All rights reserved. If your club chooses to run a fundraiser it is the responsibility of the youth treasurer and adult advisor to remind they club that forms need to be filled out and turned into the Extension Office before this can happen. These forms are located on the website with the treasurer book documents under fundraising. You are not responsible for filling this form out, but make sure the person in charge does this. Page 21

49 © 2012 Regents of the University of Minnesota. All rights reserved. Fill in 10 day prior to any fundraising event!! The Fundraiser MUST be approved by the Program Coordinator! Page 22

50 © 2012 Regents of the University of Minnesota. All rights reserved. Must turn into the Extension 10 days following the fundraising event! Make sure you report the income at your next meeting! Page 22

51 © 2012 Regents of the University of Minnesota. All rights reserved. Use this form when counting money after a fundraising event!! 1.Make sure 2 people always count the money and sign off on form. 2.Make sure the person depositing the money has also counted it! 3.Make sure this income is reported on an Itemized Income Form and recorded on the Excel Checkbook Ledger. 4.File this form behind the month tab in which the money was deposited. Page 22

52 © 2012 Regents of the University of Minnesota. All rights reserved.  Dues/Fees  Silent Auctions  Events  Food Sales  Gambling/Games of Chance – Not Allowed  Product Sales  Donations, Gifts, Grants, Monetary or Non-Cash Page 22 and 23

53 © 2012 Regents of the University of Minnesota. All rights reserved. QUESTIONS & REFLECTION


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