Society of
Toronto Central Council Conference Treasurer
Role:
The conference treasurer is responsible for keeping complete and accurate financial records of the conference and for reporting as required.
© All Conferences must keep accounting records in a standard format.
© All Conferences must follow a uniform set of accounting guidelines.
Responsibilities:
(as per the Rule, 2007, 2.2.7.3)
The treasurer exercises control over
financial operations with prudence and integrity. Managing the assets of a
conference requires mature judgment and a high sense of responsibility.
1. The treasurer is responsible for
conference funds, which means:
ü
preparing
the conference budget,
ü
keeping
records of all receipts and expenditures.
2. The treasurer must see to it that:
ü
deposits
are made regularly and promptly;
ü
large
sums of money are not allowed to
accumulate before a deposit is made at a banking institution;
ü
account
books are kept up-to-date, indicating at all times the true financial position
of the conference;
ü
a
financial report is presented at each meeting and integrated into the minutes
to ensure that the true financial situation of the conference is known at all
times.
3. For auditing purpose, invoices and/or
statements shall be obtained before any disbursement is effected.
4. All payments should be made by cheques
signed by two persons duly authorized by the conference.
5. To safeguard the good name of the Society:
ü
all
accounts should be paid as they become due;
ü
account
books shall be reviewed, at least once a year or upon request, by a financial
review committee made up of members of the conference or of qualified persons
outside the conference;
ü
any
financial review is to be presented to the conference members.
The duties may be
arranged as follows:
Weekly
ü Be sure donation envelopes are available at the back of the Church.
ü Ensure that the poor boxes are held after each mass by a member of the Society (or, when necessary, an usher).
ü Collect and count donations and poor box collections.
ü Deposit donations and poor box collections in the bank.
ü Issue cheques for approved disbursements.
ü Update the receipts & disbursements spread sheet.
ü Record donations made by identifiable donors
ü File invoices and other records of disbursements.
Monthly
ü Reconcile the bank account to the accounting record – “Bank Balance”.
ü Prepare and deliver the “Financial Report” for the Conference’s meetings, as per Appendix A sheet.
ü Whenever possible, forward surplus funds (as determined at a Conference meeting) to the Particular Council.
Year End
ü Ensure the poor box is cleared as of December 31st.
ü Check supply of official donation receipts.
ü Close books as of December 31st; and determine the year-end balance.
ü
Issue official donation receipts (by end of
February of the following year)
ü
File Conference’s Registered Charity Information
Return (by end of June or preferably earlier) to Canada Revenue Agency . Failure
to file the tax return is now subject to $500 penalty, in addition to having
the registration number revoked.
ü
Forward a copy of the yearly “Treasurer’s
Report” form to Toronto Central Council by February 28 of the following year.
(Appendix B)
Other
1. Inform
Inform your Particular Council immediately of any changes in your
status as a registered charity
2.
Cheque
Signatories
All Conference cheques to have at least two signatures and one of them should be of the President.
3. Approval of Invoices, Bills, Etc.
To be discussed
and approved at the Conference meetings and duly noted by the Secretary in the
minutes.
Audit
Account books should be examined, at least once a year, or upon request, by an auditing committee as recommended by National Council of Canada in defining the duties of the treasurer, Schema II, article 3. It is suggested that an audited financial report be presented periodically to the Conference or Council, as well as to the parish or diocesan authority which can then provide information to all benefactors.
Audit Committee
This person could be a member of the Conference or volunteer from the parish. Either person should have an accounting background but need not be an accountant..
Treasurer’s
Software, Computer Tool/Modules
Software packages are available from
Toronto Central Council for treasurers who prefer to manage the books
electronically. These packages are
called “Treasurer’s Assistant version 2” and “CAMS”.
For more information on the role and duties of the Treasurer, refer to (a)Toronto Central Council booklet, entitled “Treasurer’s Duties”, (b) “Financial Policies and Guidelines” and also (c) the “Rule” of the Society of St. Vincent de Paul, National Council of Canada.
For
more information, call Central Office, 416-364-5577
Appendix
A
Society of St. Vincent de Paul
Name of
Conference:_________________________________
Date of Meeting: _________________________________
Report Period: From _____________ To ____________
FINANCIAL
REPORT
(To be presented at the Conference Monthly
Meeting)
Opening Cash Balance: (K) ___________________
REVENUE:
4500 (A) : Donations (tax receipted): _________________
4500 (B) : Bequests (tax receipted): _________________
4500 (C) : Particular Council Contribution _________________
4530 (E) : Poor Box Collection (unreceipted): _________________
4530 (F) : Secret Collection (unreceipted): _________________
4580 : Bank Interest: _________________
4630 : Fund-raising activities _________________
4650 : Other Revenue (specify) _________________
Sub-total (add lines 4500 to 4650) (L) ___________________
4700 : TOTAL REVENUE FOR THE PERIOD (add lines K & L) (M) ___________________
EXPENDITURES
4800 : Fund-raising Expenses: _________________
4820 : Bank Charges: _________________
4840 : Office Supplies and Administration: _________________
4890 : Charitable Works: _________________
4920 : Other Expenses (specify) _________________
5050 (G) : Contribution to Particular Council _________________
5050 (H) : Contributions for Twinning _________________
TOTAL EXPENDITURES (add lines 4800 to 5050 H) (N) ___________________
SURPLUS (DEFICIT) FOR THE PERIOD (line M minus line N) ___________________
Closing
Cash Balance (O) ___________________