Treasurers Page

The purpose of this page is to give the entity treasurers information they can use. Entities, in this case, are defined as groups, sections, committees, task forces, and the like.

Chapter Financial Team members and tasks

• Annual Financial Statements – Kent Schwitkis (chapter Treasurer)
• Budget – Hersh Kelley (chapter Assistant Treasurer, Finance and Budget Committee Chair)
• Chapter Operations – Jane MacFarlane (chapter Coordinator)
• Quarterly Statement Reviews – Monica Suua (chapter Assistant Treasurer)

Annual Financial Statements (AFS) Task

• Every year the club has to report to the IRS. This means that all financial assets and liabilities of the club must be consolidated into one return. The way this task has been performed in the past and this year is that all entities report to the chapter and the chapter then reports to the national club.
• Therefore, only entities with financial transactions (e.g., had a bank account) need to report. If you believe that your entity does not fit into this category, then please let the chapter treasurer know.
• You can check the status of your entity's AFS task on our AFS Status page. The typical timeline associated with this task is as follows:
  • Late Dec – National provides the chapter with necessary forms, their deadlines for submission to national, and suggested deadlines for entities to submit the forms to the chapter. The chapter propagates these forms to the entities.
  • Late Jan to mid Feb – Entities provide the chapter treasurer with completed AFS forms for review and consolidation. (Note: each review takes about 30 minutes if "clean".) Once complete, a copy is made (for our records) and a copy is sent to national.
  • Mid March – The chapter provides final materials to national.
  • Mid June – The AFS data is audited by national and an independent auditing firm.
• AFS Documents: The following documents are used for 2008 reporting. (Note: the word "Group" is used below to refer to all entities except the Inner City Outings Committees (ICO), and the Political Action Committee (PAC).) ICO and PAC entities are to use the special forms listed below.
  • The Group Cover Letter describes the task at hand, national’s idea for the chapter need date (please deliver before Feb 12 if possible), and changes from last year. (MS Word)
  • The Group Instructions is a detailed line-by-line description of how the financial statement is to be filled out. (MS Word)
  • The Group Financial Statement is an excel spreadsheet. Note the multiple tabs. All entities except the ICO and PAC will use this spreadsheet. (MS Excel)
  • The ICO Financial Statement is the ICO-specific spreadsheet. (MS Excel)
  • The PAC Financial Statement is the PAC-specific spreadsheet. (MS Excel)
• Finally, if you have any questions about the AFS task, then please contact the treasurer by phone (310-540-5558) or email.

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