HOWTO Be Treasurer

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Contents

Tasks/Responsibilities of Treasurer

  • Pay and archive Bills
  • Receive, deposit and document monies and income.
  • Manage the collection of all dues and all other Accounts Receivables.
  • Manage the Budget and all associated processes.
  • Present reports to Board and Membership
  • Handle Taxes and other government filings.
  • Set all i3 policies regarding financial documentation and accounting, subject to override by Board Action.
  • Write up receipts for donations, and maintain the donation logbook.
  • Manage all Treasurer assistants.
  • Synchronize with the Membership Coordinator to make sure members that exit are marked in the CRM, their Keys turned


Transaction Recognition Policies

For reporting purposes transaction which may have several dates associated with them must have a unique date for a particular reporting/logging system. For the period starting 1/1/14, and until otherwise noted, the following accounting practices are followed.

  • A manual paper check issued by i3 to pay an i3 debt is recognized on the date printed on the front of the check.
  • An online Bill payment, whether via paper check or ACH/EFT will be recognized on the date logged in the Bill Payment History of the online banking account.
  • A debit card transaction will be recognized on the date it clears the bank, as recorded in the Transaction History of the account.
  • A dollar transfer from Amazon will be recognized for accounting purposes as the date logged for the deposit in the Transaction History of the bank.
  • Payments through Amazon will be logged in the CRM automatically under the date as decided by the software.
  • All dollar transfers from Amazon to our checking account will be logged as Dues for reporting purposes, including donations made through Amazon, for simplicity.
  • All cash and check payments to i3 will be recognized for accounting purposes on the date of deposit into our checking account.
  • All cash and check payments to i3 for dues will recorded in the CRM using the date on which they were entered into the CRM.
  • All monies sent to the Treasurer from Zone Cash Boxes will be deposited into the checking account but be accounted separately from the General Fund and will not be counted as Income. Each will be accounted as a {ZoneName)Fund.
  • All monies released from our checking account as taking money from a "ZoneName Fund" will not count as an expense, although a receipt image file will be required to be archived.
  • The Budget Process handles only transactions to/from the General Fund.
  • All receipts, contracts, invoices and documents will be stored electronically in the i3DataVault.






Deposit Processing

Amazon Payment

  • All CRM entry is entirely automated. Every Amazon Payment makes an entry in the PAYMENTS page credited to the Member Name. The database holds the links between Amazon Name, which is supplied to us for each Amazon Payment, and Member Name(the exact name of the member in the CRM). Those are many times not exactly the same, so a link between the two is held on the PAYMENTS/AMAZON/ADMINISTER page.
  • Move bulk money from Amazon account into Checking by signing on our Amazon Payments account and "withdraw funds". Do so about once every 3-5 days and two days before the final day of the month.
  • Credit is recognized on day it clears checking account, not time of withdraw from Amazon.
  • There is no easy way to report Amazon Dues separately from Amazon Donations synced to bank deposit date, so we count all Amazon deposits as "Dues" in Budget Reporting.

Check and Cash Payment

  • Clean out the black box semi-weekly.
  • Immediately update the CRM. Place an entry for the member in the PAYMENTS page with the correct amount.
  • Prepare a spreadsheet with each payment as a line item. One Spreadsheet per year. Group by deposit. Archive in i3 DataVault/ADMIN
  • Deposit in Bank
  • Check online next day to make sure deposit happens correctly.
  • Follow up with members whose checks bounce.


CRM Processing by Treasurer

Billing Button

  • Press the Billing button on the 2nd and the day before any outgoing dunning emails.
  • The billing button updates all debits required by changes in the CRM from the last button push.

Clean Up Amazon Links

  • Weekly - At PAYMENTS/AMAZON/ADMINISTER Resolve all Amazon Names not linked to a Full Name. You

LEAVE

  • When a person goes on Leave, as indicated by change in Plan or email from the Membership Coordinator or direct contact by the member, write off any fractional debit so that member has $0 balance owed. Make sure any direct contact is copied to the Membership Coordinator.
  • When a member comes back from Leave, write down any fractional dues charge which the CRM assesses so that the member exits the month with $0 balance owed.

MEMBER EXIT

  • When a person ends their membership in i3, as indicated by change in Plan or email from the Membership Coordinator or direct contact by the member, write off any debit so that member has $0 balance owed. Make sure any direct contact is copied to the Membership Coordinator.


Dunning

  • Contact each member that is overdue on the 15th of each month and the 25th


Dues Time Out

  • TBD



Archiving

  • All contracts, statements, invoices and written correspondence (other than email) should be archived by the Treasurer in the i3 DataVault in the appropriate folder.




Regular, recurring expenses and how they are paid

There are several expenses that are incurred on a regular and recurring basis. The following table describes each one, including a description of how the expense is paid. "Check" means that a physical check is written and delivered to the creditor. Note that some bills are actual paper bills that get delivered to the space--check the mailbox regularly for these and other important things.

Payee (reason) Frequency Amount Mode of Payment
John Hutt (rent) Monthly See Lease Check, payable to John Hutt, hand-delivered to mailbox of John's landscaping business (next door to i3).
WOW (internet) Monthly $74.50 Automatic debit from checking.
Runco Waste (dumpster) Monthly $65.00 Check; paper bill is mailed to 1481 Wordsworth.
Consumers Energy (gas) Monthly Varies Automatic debit from checking.
DTE Energy (electricity) Monthly Varies Automatic debit from checking; we send an invoice to B. Nektar for their portion of the bill.
Westfield Group (insurance) Monthly $89.00 Automatic debit from checking.
John Hutt (water) Quarterly $200 Check, payable to John Hutt, hand-delivered to mailbox of John's landscaping business (next door to i3); John Hutt delivers copy of bill to 1481 Wordsworth mailbox after subtracting B. Nektar's portion.