SO YOU ARE THE TREASURER!

Congratulations!but where do I start?…

THE BANK ACCOUNT….. Find out who are the current signers

and make sure you are current! Get the current year: Chapter President, Chapter Treasurer State Treasurer . *** 3 signers, one must be the State

Treasurer!

BANK ACCOUNTS

Find out how many you have, do you have savings or a CD? Money Market savings?

Consider using a program such as Quicken if you have a large number of transactions.

Keep accurate up to date records!

USE THE MEMO LINE! You cannot write too much! Was this a check for a service such as

teaching or speaking? Was this a check to reimburse

expenses? Was this for delegate expenses based

on receipts No cash withdrawals either by check or

debit cards.

TREASURERS ON-LINE BIBLE!

YOUR GUIDE TO LIFE AS A TREASURER

http://www.ena.org/statecouncils/Treasurers/Pages/default.aspx

Treasurers quarterly calls! Listen in!

YOU ARE NOT ALONE! State Treasurer: ask first, they probably

know where to get an answer. Our accountant: (Larsonallen) tax

issues, reporting. Wells Fargo Advisor: Erik Wiski erik.wiski@wellsfargo.com banking needs, signatures, questions

about fees, savings.

BUDGETING Look at the previous year(s) . What income did you have? What expenses do you expect. Get it approved at the last meeting of the year,

it decides where you can spend for the upcoming year.

Unapproved expenses must be approved before spending.

Send a copy to State Treasurer. Examples at the Treasurer page.(ENA)

WHAT IS A TAX ID NUMBER? Minnesota ENA has one Tax ID number.

It is sort of like a Social security number for our business. (Not posted)

Even though we have separate chapters and accounts, we are considered one collective organization.

The State Treasurer is responsible for all accounts. (Can view all your transactions)

ARE WE TAX EXEMPT IN MN? No we are not. Our accountant as well

as our National CFO have advised that it is a bulky process for what we would save.

But yes, we are a 501(c)3 non-profit. We have that status through a group certification

TAX TIME! State Treasurer does the filing with the

accountant. Your State Treasurer will ask for several

items. December/Early January: A list of checks written to persons for

services. A copy of your check register.

TAX TIME TWO Mid January: Beginning and ending balance for the

previous year, for all accounts. Interest earned. Income/expense summary.(This can be

accomplished with a copy of the budget and the check register.) Please make sure your account balances!

WHAT ELSE Need a copy of notes showing your

elected officers, and that your budget was approved.

Receipts do not need to be sent but MUST be retained. (Delegate receipts, payment receipts….)

DELEGATE STUFF Minnesota ENA has a policy on

delegate reimbursement. States reimburses airfare and shared

hotel up to a specified amount. ($600) . If the chapter decides they may pay

the difference between State amount and any actual actual expense. No one may “earn” money on this. (See example)

DELEGATE EXAMPLE Dede goes to San Diego to be a

delegate. Costs: airfare is $449 Hotel is $ 370 Meals are $72 Airport shuttle is $20 Gifts for kids and 2 drinks are $102

EXPLANATION

Airfare and Hotel receipt are paid up to MN ENA State approved amount of $600

Chapter may decided to pay any additional amount. Dede submits $819 to her chapter.

Chapter decided to pay per-diem but based on actual costs, so Dede submits for $92 to her chapter.

CLEAR AS MUD? Talk with State Treasurer about plans

for your chapter before delegation goes!

Different needs for different chapters.

CD VS. MONEY MARKET CHECKING.

CD’s “roll over” cannot get at the money if needed.

Money Market checking, you keep what you need in the checking account, and place the rest in an interest bearing “Money market account”. Money can be transferred on-line with no penalty and earns interest.

PER DIEM What is it? It is money allowed during business travel

(annual conference) for reasonable expenses. (Food,taxi,and shuttles, are the most common.)

No alcohol. Does not require a receipt. Paid if approved by the chapter. Meals and per-diem expenses are the responsibility of the

Delegate/Alternate’s chapter. Each chapter may decide if and the amount they will reimburse per diem items. (Up to the IRS accepted amount of $75/day)

INSURANCE So you are holding a conference or

event and you are asked about insurance.

We have it through National ENA. We need to ask for a certificate to give to the requestor.

WHAT MONEY DOES MY CHAPTER GET? You get monies from National for each

person in your chapter. The schedule is in the Treasurers

handbook!

http://www.ena.org/statecouncils/Treasurers/Documents/TreasurerGuide12-2008.pdf

QUESTIONS?