1. Belgian Sheepdog Club of America Treasurer’s Report
Cindy Herman
2019

2. Summary Membership and Dues – Renewal trends and affect on revenue
PayPal – Trends and fees
Treasurer Procedures

3. 2019 Revenue from Dues Renewal
Membership Fees
2019 Revenue from Dues Renewal
Single Memberships $4,440.00
Household Memberships $1,240.00
Total $5,680.00

4. What Dues Should Cover – Pre-arranged Costs
General Liability Insurance $ 600
Director’s & Officer’s Insurance
AKC Club membership
State of Indiana Corp Registration
1099 & 990 Prep & Filling
Website Costs
Merit Awards
Title Medallions
Regional Specialties &Supported Entries 1,000
Judges Education 1,000
Junior Program 1,000
Total $6,151
Cleary, Membership Dues do not cover fixed costs

5. Members Who Did Not Renew
15 single members did not renew
1 not showing, if does start showing need to be a smaller breed
10 financial reasons
4 did not give a reason

6. Other Expenses (Not covered by Dues)
PayPal Fees $1271 Meet The Breed 756 QuickBooks 240 Postage 239 Printing 700 Miscellaneous 190 Total Other $3396

7. Dues Recommendation
Fixed cost are over membership dues revenue by $471
This deficit must be covered by profit from the specialty or by depleting savings.
“Other Expenses” are not covered by dues and are instead covered by specialty profit or by depleting savings.
Recommendation: leave dues at $65 household and $90 Household
There is a trend of loosing several members due to financial reasons
Raising dues could increase this trend
It is encouraging that some of our expenses are decreasing, reducing some of the financial pressure, but we need to continue to reduce our expenses.

8. Recommendation: Institute a 3% fee for all PayPal transactions
PayPal Expenses
PayPal fees have been steadily growing. Club membership dues and other sources of revenue have to cover these, putting a burden on the Club’s finances.
PayPal fees are approximately equal to the projected 2019 Club deficit from dues.
Recommendation: Institute a 3% fee for all PayPal transactions

9. Expenses Reduction from Prior Year
Efforts to reduce printing and postage expenses are paying off

10. National Specialty Expenses
In order to have 3 years worth of national specialty expenses in saving which would be a comfortable savings the club needs to further build its savings.
At present we have $90,407 of unrestricted funds in saving
This value needs to increase to ~$150,000 over time
In addition to reducing expenses to address the annual deficit, the club needs to continue to lower expenses in order to build up savings

11. Treasurer Procedures
With the absence of a finance committee I have started implementing procedures to make it easier on the treasurer, audit committee, and board
If anyone would like to join the finance committee see me after the meeting
User name and Passwords
All accounts use
purpose to make transition of new treasurer easier
President and Recording Secretary are given list of accounts and passwords
If something were to happen to the treasurer accounts can be accessed
easily

12. Audit
Per constitution Audit committee is to consist of 3 members in good standing
Committee to be appointed by board of directors by September 1st
Treasurer is to have financial information to Audit Committee by October 1st
This will give the audit committee time to review the books and send the report to the recording secretary in time for annual meeting reports

13. Procedure Manual This is a manual of best practices Purpose
Make transition of new treasurer easier
Should something happen to present treasurer it well help whoever steps in
Once completed it will be in the board of director files
Information in the manual
Vendors, invoice amounts and due dates
Agility fundraiser procedures
QuickBooks procedures

14. Forms We are also implementing standard forms for expense transactions
The forms detail what the expenses are for
Show the expenses have been approved
Implementing the following forms will make it easier for the audit committee to follow the expenses
Easy to understand and review paper trail

15. Proposal for Standardized Reimbursement Forms
Committee Expense
Travel Expense
Refund
Deposit
Total Deposits
Fund Reconciliation
National Specialty Deposit
Trophy Donation

16. BSCA Committee Expenses
This can be used for committee and national specialty expenses

17. Travel Expenses
This can be used for meet the breed, judges education and national specialty judges.

18. Request for Refund Often Refunds need to be given at Specialties.
This serves as back up for the refund and shows approval

19. BSCA Deposit Form
This form shows how the revenue for the deposit was distributed.

20. BSCA National Specialty Deposit
This form shows how the national specialty revenue for the deposit was distributed.

21. Back Up To Treasurer President Recording Secretary
This are the other signers on the account
Treasurer should have set up these are the people to contact