1. NZPCA Conference: July 2017
Pony Club Treasurers
NZPCA Conference: July 2017

2. Treasurers NZPCA Conference: July 2017
Responsibility
Reporting
Control
Year End
Review/Audit
Check List

3. Treasurers - Responsibility NZPCA Conference: July 2017
Keep up-to-date records as well as an audit trail for all transactions
Record
Protect the club against fraud and theft, ensuring safe custody of money, and prompt banking
Protect
Make sure the club understands its financial obligations, tracking Income and Expenditure against the budget
Inform
Make sure the club complies with any regulations, such as GST, Societies filings
Compliance
Review all internal processes and reporting methods at least annually
Review

4. Treasurers – Monthly Reporting
what INCOME has occurred
what EXPENDITURE has occurred
what MONIES are owing
what ACCOUNTS are due for payment

5. Closing Bank Balance equals your Bank Statements
These easy to use templates can be found on the NZPCA website
The Monthly Finance Report is broken into the below sections:
Bank movement in the mth
Outstanding Income
Accounts for Payments, mover, seconder
Any Financial Concerns
Closing Bank Balance equals your Bank Statements
Who owes us money and what is happening with collecting it e.g. payment dates, disputes
Provide Supporting Documents e.g. Claim Forms, Bank Statements, Invoices

6. perform regular Bank Reconciliations is the EXPENDITURE correct/proof
Treasurers - Control
perform regular Bank Reconciliations
is the EXPENDITURE correct/proof
has the EXPENDITURE been budgeted for
at least 2 Bank Signatories (never have a draw full of presigned cheques)

7. These easy to use templates can be found on the NZPCA website
The Claim Form is to be used to provide
Proof of Expenditure
The Reasons for the expenditure
Treasurers approval that it is/isn't budgeted for
as Supporting documentation to the Monthly Finance Report - seeking approval for payment
Receipts attached!!!!

8. Treasurers - Budgeting
Done at the beginning of the fiscal year
what INCOME is expected what EXPENDITURE is expected set SUBSCRIPTION Fees as Treasurer you are the facilitator of the annual budget

9. These easy to use templates can be found on the NZPCA website
The Annual Budget template:
Expenses by category on the left hand side
Income by category on the right hand side
Subscription levy can be set to provide the branch with an expected Surplus/Deficit for the year
the entire committee needs to play a role in creating the annual budget

10. prepare Final Accounts arrange Review/Audit table at AGM
If you are a Registered Charity you will be required to reported under the Tiered Reporting framework, please see your accountant
Treasurers – Year End
prepare Final Accounts
arrange Review/Audit
table at AGM
file with Societies.govt.nz

11. Treasurers – Year End Statements as per Societies Office
If your pony club is an Incorporated Society
Treasurers – Year End Statements as per Societies Office
The annual financial statement should include:
the society's full name
the financial year that the financial statement has been prepared for
the society's income and expenditure for that financial year
the assets and liabilities, as at the close of the financial year
all mortgages, charges, and securities of any description affecting any of the society's property at the close of that year
an audit or review report (where a society’s rules specify that an auditor or reviewer must be appointed)
a certificate signed by an officer of the society confirming that the statement has been submitted to and approved by the members at a general meeting.

12. Incorporated Society Registered Charity
Treasurers – Audit vs Review
What type of Entity are we?
Incorporated Society
Registered Charity
Have we adopted the most recent updated Branch/Club Constitution 2016?
You will be required to report under the “Not for Profit Public Benefit” framework under the Charities Act
YES NO
Is "GAAP“ Generally Accepted Accounting Practice or similar wording mentioned in your Constitution?
YES
Are we GST registered (income over $60k) or have Assets greater than $250k?
YES NO NO
Please see your accountant who will provide further clarity
You will be required to report under the “Not for Profit Public Benefit” framework.
A Review/Audit is required to be done by a Chartered Accountant.
Please see your accountant who will provide further clarity.
An Audit is required to be performed by a suitable person
A Review is required to be performed by a suitable person
Reporting and who to Audit/Review our financial accounts?

13. Treasurers – Checklist

14. When does an entity need to become GST registered
When to register for GST?
You must register for GST if you carry out a taxable activity and:
your turnover was $60,000 or more in the last 12 months or will be $60,000 or more in the next 12 months
What is Turnover for a Pony Club branch?
Turnover includes Subscriptions, Grants, Uniform Sales, Event Entry Fees etc
Does it include Donations?
No as a Donation is an Unconditional gift. An unconditional gift is a donation or payment made voluntarily to any non-profit body, where there's no identifiable direct benefit to the donor or the donor's family.
Therefore in determining if your pony club should register for GST, you do not need to include donation income when calculating if the turnover is over the IRD threshold
Please speak to the IRD if you require any assistance or clarification