National Specialty Guidelines – Section L Treasurer
Section L National Specialty Treasurer
The appointment of a National Specialty Treasurer is optional. Should the local committee request this position, it and the appointee must be approved by the Board of Director’s. However, it should be noted that having a National Specialty Treasurer does NOT absolve or remove any of the responsibilities of the BSCA Treasurer, who has ultimate responsibility for the funds in the National Specialty Account.
General Financial Policies
Under no circumstances shall the Treasurer of the National Specialty sign a check of reimbursement to themselves or their immediate family members, nor pay for anything at any vendor with a check from the BSCA.
1. All funds shall be deposited in a bank account approved by the Board of Directors.
2. All bank accounts must reflect the non-profit status of the Club.
3. All bank accounts shall be maintained in the name of the Club with the IRS EIN as the federal tax ID on all accounts.
4. Credit/Debit cards are not permitted.
5. The main bank accounts of the Club shall have the Treasurer, the President and the Recording Secretary as signatories on the account.
6. The Board may at times authorize the establishment of satellite bank accounts to facilitate the administration of club functions. Examples of these are local accounts for National Specialty functions and an advance account to the newsletter editor.
7. All satellite accounts are maintained as part of the main records of the BSCA.
8. All satellite accounts shall be set up with the current approved bank of the BSCA; Accounts at other financial institutions are not allowed.
9. The Treasurer is the only person authorized to establish satellite accounts with the current bank.
10. The Treasurer shall have signatory approval on all satellite accounts established.
11. The Treasurer shall have electronic access to accounts and statements of all satellite accounts.
B. Satellite Accounts
1. Satellite accounts must be approved by the board of directors prior to establishment and the local administrator must also be approved and added to the financial bond of the BSCA.
2. All satellite accounts must be established as a non-profit business account in the name of the BSCA with the local administrator(s) and the Treasurer as signatories. BSCA accounts shall never be set up in an individual person’s name. All accounts will use the BSCA’s EIN for IRS reporting purposes.
3. The Treasurer is responsible for reconciliation of the account(s).
4. All satellite account activity should be reported to the Treasurer within 5 days of the end of the calendar month.
5. Once the satellite account is no longer needed, the account will be closed and any surplus funds transferred to the main BSCA account.
6. No committee shall establish a bank account without first gaining approval of the Board of Directors. All accounts must be established with coordination of the Treasurer and in accordance with the policies of the BSCA.
1.The Club receives invoices for various expenses related to the operation of the Club. i.e. newsletter printing, insurance, etc.
2.Invoices can be received either in hard copy or electronic formats.
3.Upon receipt of an invoice, the Treasurer should determine if the goods or services have been received, and verify that the amount of the invoice is within expectation and reasonable. Example: newsletter invoices should be reviewed by the editor for accuracy, etc.
4.Payments of Club expenses are made by the Treasurer or a person designated by the Board of Directors has having authority to pay expenses on behalf of the Club. (i.e. National Specialty Treasurer, etc.)
5.Cash, credit card, debit card payments are NOT allowed.
6.All checks written to vendors must include a notation of the invoice # in the memo line, if applicable.
7.All invoices shall have the check #, the date paid and the initials of the Treasurer affixed to them and maintained in the financial records.
8.Any invoice that requires a separate approval from the Board of Directors, must have a copy of the poll and resultant vote attached, reflecting the authorization of payment.
b. Member Reimbursements
1. Members are encouraged to do everything possible to have a vendor send an invoice to the Treasurer for payment.
2. Members should request authorization from the Board of Director prior to purchase of any goods or services for the Club. This authorization may come in the form of a special request directly to the Board (i.e. judge’s education travel expenses), or as part of the normal course of business and the receipt of the annual budgeted amount for the expenditure. (i.e. annual awards, etc.)
3. Members must submit a receipt noting the nature of the expenditure and the amount they are requesting reimbursement for.
4. Actual and electronic receipts are acceptable.
5. Please reference items 4-8 under invoice payments for reimbursements to members.
c. Non-Member Reimbursements
1.Non-members are not authorized to purchase goods & services on behalf of the BSCA;
2.The Board of Directors may authorize a non-member to purchase on behalf of the BSCA;
3.Board authorization must include the person authorized to act on behalf of the BSCA, the nature of the expenditure, the expected amount of spending as well as a spending cap, if appropriate.
4.The Club is not obligated to reimburse non-members if Board of Director approval is not granted.
5.Please reference items 3-5 under Member Reimbursements.
Responsibilities of National Specialty Treasurer
A. Follow all financial control policies of the BSCA;
B. Provide at a minimum, the following documentation to the BSCA Treasurer for proper account reconciliation and documentation:
1. Copy of all supporting documentation for deposits. Checks received that pay for multiple items shall have the details recorded in an excel spreadsheet to ensure proper recording of event receipts. Copies of actual checks are not required as they are available through on-line means. Same applies for cash receipts.
2. Detail backup of all payments are required in accordance with BSCA policy. See above.
Deposits Prior to Week of Show:
1. The Treasurer shall collect and deposit all funds in the appropriate accounts in a timely fashion.
2. Checks must be deposited on a weekly basis, minimum.
3. Post dated checks are not acceptable.
4. All checks must be submitted in U.S. Funds.
5. In the event of a check returned NSF, the Treasurer will send a certified letter, return receipt requested, detailing the NSF check including the date, amount and check number to the presenter of the check. The Treasurer will also list the outstanding amount due, which is to include the original amount of the check, any bank fees assessed the club and a $10 service fee to cover the cost of the mailing.
6. A BSCA member will have 30 days to provide a money order to cover the costs of the insufficient check and all associated fees. If payment is not received, the member is no longer considered in good standing and shall be ineligible to receive the newsletter, and engage in all other activities reserved for members in good standing.
7. A non-BSCA member will have 30 days to provide a money order to cover the costs of the insufficient check and all associated fees. After this time, the Treasurer will circulate a list of people who are considered ‘cash only’ for all purchases, entries, etc. This list shall be made available to the Board of Directors as well as those people designated to accept funds on behalf of the BSCA.
Cash Receipts during the week of the Show:
1. The week of the show can be chaotic. Upon arrival at the host hotel, the Treasurer should obtain a safe deposit box at the front desk. The petty cash funds and all other funds collected should be maintained in the safe deposit box, never in an individuals room if at all possible. If a bank branch is accessible, efforts should be made to take deposits to the bank.
2. Collection of Cash: If people pay for items with cash, the hospitality people should record what items are purchased, by whom and for how much. Small, double copy receipt pads are available at office supply stores for a nominal amount. Any general cash donation jars should be emptied periodically throughout the day, with notes attached as to what the donation is for (if known). It is also advisable to provide those people selling items outside of hospitality with envelopes for cash collection. Do not mix items in the same envelope. I.e. have one envelope for catalog sales, another for bait sales, etc.. The Treasurer should collect excess amounts of cash periodically throughout the day. Checks received should also be noted exactly what is being paid for. This ensures proper recording in the financial statements.
3. Petty cash fund: Petty cash is maintained in the hospitality room for making of change for cash sales. It is never to be used to reimburse anyone for any reason. $100 is a sufficient amount in the fund. At the end of every day, petty cash is to be reconciled and all excess cash prepared for deposit for that day. Every day the starting balance of the petty cash fund is $100. Counts sheets of total funds for the day shall be tallied and maintained as part of the Club records.
4. All judges, the hotel and most other venues require payment immediately upon conclusion of the event. The Treasurer and/or the Show Chairperson should be available to receive, review and approve invoices and receipt submissions for accuracy as well as compliance with signed contracts. Copies of all contracts must be on site for each event. In the case of judging contracts, AKC requires the contracts be available at the venue.