Treasurer

Roles, Responsibilities and Tasks

The Role of the Club Treasurer

The Club Treasurer is responsible for all financial matters pertaining to the club

Meetings

The Treasurer should be in attendance at all Club meetings and Board of Directors meetings.

Treasurer’s Role

• Club Meetings:– Keep members informed– Be prepared to present financial

information at club meetings– Oral reports should be concise, factual and to

the point– Be prepared to collect money and issue receipts

Keeping Funds / Accounts in Order

• The Club Treasurer is charged with keeping the club’s funds and accounts in order

• Receive all club-related monies both from membership dues and the clubs activities

• Work with the secretary to send out a club dues invoice at the start of the dues-paying period

(1st July and 1st January)

Treasurer’s Role

Prepare budgets

• Administration budget

• Activities Budget

Accounting

Review current banking arrangements

Funds for administration and activities must be kept

separate through book-keeping and two bank accounts

1. Administration – funds from dues, fines and internal funds

2. Activities/Charity/Services

– funds raised from the public

Other bank accounts can be opened for special projects

Treasurer Role

Review and select officers for signing and co-signing cheques. Obtain approval from the Club or Board of Directors

Treasurer Role

Deposit monies in predetermined accounts

– Bank monies within 48 hours of receipt

– Immediately update record-keeping

Treasurer Role

All payments must be authorised by the Club

members or Board of Directors

Pay Lions Clubs bills promptly

• Ensure approval is recorded meeting minutes

Record-Keeping and Reports

Organised and accurate record-keeping and submitting financial accounts appropriately are priorities for the Club Treasurer.

• Maintain general records of club receipts and payments – Reconcile bank statements – Record monthly income and expenses promptly– Review itemised LCI statement and submit to the

club for approval. This statement should also be verified by the Secretary especially when membership dues are included

– Use a ledger book or computer spreadsheet– Record dues when paid

Record-Keeping and Reports

Reporting

• Semi-annual and annual financial statements• Reports to be brief, factual and informative• Meeting reports include a brief income and

expenses statement • Written list of transactions to the Secretary for

inclusion in meeting minutes.• Copy of annual audited accounts MUST be

approved by the Club and a copy forwarded to the District Treasurer

Charitable Status

• ROI Charity No. – CHY 15707• NI Charity Ref: - XR 90123 numbers not issued in NI

• Upon Application Exemption or Relief from –• Capital Acquisition Tax (Gift or Inheritance Tax)• Companies Capital Duty• Stamp Duty on transfer or lease of land• Rates on premises in NI

There is NO exemption from V.A.T.

Gift Aid

Mainly applicable to Northern Ireland• PAYE Taxpayers can donate to a Lions Club as a tax

free donation• No minimum limit in NI - €250 in ROI• Membership dues can be a donation if the Lion is a

taxpayer• Income from certain types of fundraising can also be

noted as a donation• Donations from taxpayers warrant an application for a

tax rebate of up to 25%

Gift Aid

Membership dues for 4 years up front would be

applicable but requires detailed bookkeeping

In all cases rebate applications to be processed via

District Charity Trust Officer (PDG Donal Horgan)

All clubs participating in Charitable Status or Gift Aid

scheme must have lodged recent audited financial with

the District Treasurer

End of Term

Audit Reports/Records– It is sound accounting procedure to audit the

records at the end of each fiscal year– Respected Lions are appointed to do the audit– Remember to send a copy to the District

Treasurer

Leadership

Please remember Club members look at the Treasurer as one of the leaders of the Club.

You need to act as a Leader

Further Topics Included in the Club Treasurers Guide

• LCI Organisational Structure

• Club Structure• Board of Directors• Leadership Skills• Lions Learning Center

• Youth Payment• Membership Types• Family Membership Prog• Sample income/payments• Sample Balance sheet• Gift Aid Forms

Thank you for listening

Any Questions?