The Role of the Club Treasurer

The club treasurer is the financial advisor of the club and serves as custodian of all club funds. In this role there are many duties relating to operating the business of a Sertoma club. Although the club is a volunteer entity, the IRS views the club as a business, and its finances must be treated like one. The primary responsibility of the treasurer is to track and report all money coming in and out of the club. This Manual is designed to help you with the basics of this responsibility.

It is vital that the leadership of a club realize they are operating a business, and without the income derived from members’ dues the organization will suffer monetarily, quite possibly to the point of self-destruction. Most membership organizations have an application fee and annual dues. Sertoma is not unique in this respect.

Charitable funds must be held and accounted for in certain detail for reporting purposes. The IRS requires that all public charities be able to account for the revenue and expenses generated as an exempt organization. This must be made available on demand to the IRS, Sertoma Headquarters and even donors from the local community. The Sertoma club must be able to show that charitable revenues are used for the club's charitable or exempt purpose.

This Manual is designed to help the treasurer properly structure a budget, account for use of all revenue and expenses, help assure appropriate use of funds of operations – exempt or charitable needs, and report as required to all stakeholders including the club members, Sertoma Headquarters, the IRS and the community the club serves.

Tax Exemptions & Registrations

EIN (Employee Identification Number)
Each Sertoma club is required to have an EIN. This number is used by the federal, state and local governments, as well as the banking community, to identify a business entity. The EIN number is used by the IRS in combination with an annual report from Sertoma International to determine if a club is covered by either or both of the Sertoma tax exemptions. Without an EIN to establish the link, the club is not legally a tax-exempt entity.

The requirements for qualifying for an EIN and tax exemptions begin during the charter process with the Petition for Tax Exemption forms. Participating clubs must then apply for the EIN number from the IRS to be included under the umbrella of Sertoma’s group exemption.

To apply for your EIN use IRS form SS-4. Sertoma Headquarters cannot obtain an EIN number for a Sertoma club. Once the IRS has assigned the club with the EIN number, the club must report it to Sertoma Headquarters to be included on the listing given to the IRS each year. Without notification to Sertoma Headquarters the club is not legally part of the group exemption.

If the club does not know if it has the required EIN number, please contact Sertoma Headquarters. The Sertoma Headquarters staff can look up the information about the club. If an EIN number is needed, the instructions can be obtained from the office.

How to Apply for an EIN
You can apply for an EIN online, by telephone, fax, or mail depending on how soon you need to use the EIN:

IRS Tax Exempt Status Provided for Club
501(c)(3) - Charitable Fund
Sertoma has an IRS-deginated 501(c)(3) texemption. Specifically, this exemption allows clubs to accept gifts and donations allowed under this IRC section to be tax deductible to the donor. The club must have its own EIN assigned by the IRS linking the club to this exemption, GEN 5409.

Under section 501(c)(3) of the IRS Code, we are allowed to maintain this exemption to aid the handicapped, mentally retarded, underprivileged and other members of the community as the need arises, and for other qualified religious, charitable or education purposes. All fundraising involving any type of tax-deductible gift, most corporate matching gift programs and, in most states, all charitable gambling requires the organization to hold a 501(c)(3) exemption. Specifics on how to manage charitable funds are provided in detail in the Management of Charitable Funds section of this Manual.

State Incorporations & Registrations
All clubs should incorporate as a not-for-profit business within their state. Incorporation is also important in protecting the volunteers from liability issues related to club activities. Many states and, in some locations, even counties and cities require registration by all not-for-profits doing fundraising from the general public. The requirements for both of these processes can vary greatly, and the treasurer should work closely with the club secretary to make sure that the club has all of the appropriate and up-to-date registration required to operate the business of a Sertoma club. Check with your state’s Attorney General or Secretary of State office on local requirements.

Links to state web sites can be found on the IRS web site at the following link:
www.irs.gov/businesses/small/article/0,,id=99021,00.html

Requirements & Obligations

Sertoma Fees & Dues
It is the responsibility of every Sertoma club to meet all financial obligations to Sertoma and, if required, to its Divisions (District or Region). All dues and how they are calculated are authorized by the Sertoma Board of Directors and cannot be waived or adjusted without Board action.

Membership dues:
Beginning in 2008-2009 clubs both individuals and the clubs will be members of Sertoma. This is a change from the past where only the club was a member of Sertoma, and the individuals were considered only members of the club.

Clubs will be billed annually for the club dues. That billing will occur on July 1 of each year and is a fixed amount of $175 for all clubs. This was approved by the members at the 2007 International convention.

Clubs will collect from their members the individual membership dues. These remain $15 per quarterly, or $60 a year, and will be billed in the same process that they have been in the past. That process is as follows:

Each individual members dues are payable quarterly, in advance. Sertoma dues are computed and billed to the club’s account. The billings are sent to the club Treasurer on July 1, October 1, January 1 and April 1, or next business day if these dates fall on a weekend or holiday. The billing will be based on the number of members on file at Sertoma as of noon Central Time the last business day of the previous quarter. This invoice is due upon receipt to Sertoma.

Division Fees
The individual membership number from the quarterly invoice is used to calculate Division fees. This number is multiplied by the Division fees amount and remitted on Form 117: Quarterly Dues Statement. All dues and how they are calculated are authorized by the Sertoma Board of Directors and cannot be waived or adjusted without Board action.

Sertoma Processing Fee
Sertoma charges a processing fee for each new member who is added to its membership roster. This fee includes the price of a New Member Kit that is shipped on receipt of Form 115: Membership Information. This fee does not apply to transfer members or former members added to the club roster, as recorded at Sertoma Headquarters, if received within 90 days after the member is dropped from his/her previous club. The fee does not apply to Life Members who become reinstated active members.

Club Application Fees
The club application fee is established by each club. This fee represents the amount a qualified candidate for membership must pay to the club when he or she applies for membership. This fee is used to cover the cost of the Sertoma processing fee and to defray the expenses involved in providing a new member with any materials and meals provided by the club. Some clubs charge $25 to $50, depending on the need and preference. When there are concerns for the financial imposition this might place on a candidate, some clubs waive the application fee. Generally, the candidate for membership who quickly remits a specific application fee will be regular in meeting financial obligations to the club.

Other Costs & Taxes

Club Liability Insurance
Clubs are required to have insurance that covers the members and participants at all events. Sertoma extends blanket general liability insurance to all clubs in the United States and Canada. This cost is pro-rated to the clubs each year based on the number of members on file when the policy renews. For more information on the insurance program, please see the Sertoma section of the Club Manual. Typically this is billed to the clubs in September.

Manuals
Each year a Sertoma club will receive two new Club Manuals updated for the coming fiscal year. The club will be billed for these manuals, plus shipping. The Manual is the resource for information on operating a club and all awards and functions within Sertoma. This is required by the Sertoma policy; the cost and mailing of these manuals cannot be waived or adjusted without Board action.

Director & Officer Insurance & Fidelity Bonds
It is recommended that each club purchase a bond and possibly director and officer coverage on the board of directors for decisions made for the club. This may be purchased either from a local insurance agent (check your club’s membership to see if someone can assist you) or from the Sertoma insurance company.

Sales Tax
Sales tax is a state-determined function and cannot be waived with only a tax-exempt status from the IRS. All clubs will have to pay sales tax unless the club applies for sales tax exemption from the individual state in which it resides. Sertoma legally cannot obtain sales tax exemption for our clubs.

Annual Reports

Audit
At the end of each fiscal year the club board of directors should call for an audit of the records. This can be done as an internal committee of the club or by an outside financial representative. The club treasurer should welcome this review to help substantiate all expenses of the club for filing all state and federal forms as required by the club’s activities. The club treasurer must be prepared and have all documentation in a readily accessible location. This must be completed prior to filing the club’s 990 tax return.

Form 990/ 990EZ (Tax Return)
The IRS requirements state that any nonprofit organization which has $25,000 in gross income must file a 990 or 990 EZ. This form is required to be submitted by the 15th day of the fifth month following the end of the fiscal year. Since the Sertoma fiscal year ends on June 30, the form(s) are required to be filed by November 15th each year. An extension may be requested from the IRS. A common mistake made by a club is not including dues in the gross receipts test. Dues are considered income by the IRS and must be included in this calculation.

Be sure to include the club’s EIN on the tax form, as well as the tax group exemption number linked to the EIN. If the club files a return without the group exemption number on the form, the IRS requires that the name “Sertoma” to be the first name line on the form with the club name as the second name line.

If the club meets the requirements and does not file, the law provides penalties (including fines and imprisonment) for willfully not filling returns. Also, a penalty of $20 per day, not to exceed $10,000 or 5% of the gross receipts, may be charged when a return is filed late. All forms can be obtained from the IRS service center in your community or from its Web site, www.irs.gov.

Form 990-N (e-Postcard)
If your gross receipts are less than $25,000, you are required to electronically submit Form 990-N, also known as the e-Postcard. The Pension Protection Act of 2006 added this filing requirement to ensure the IRS and potential donors have current information about your organization. The first e-Postcards are due in 2008 for tax years ending on or after December 31, 2007. The e-Postcard is due every year by the 15th day of the 5th month after the close of your tax year. Since the Sertoma fiscal year ends on June 30, the form(s) are required to be filed by November 15th each year. You cannot file the e-Postcard until after your tax year ends.

Late filing of the e-Postcard
If you do not file your e-Postcard on time, the IRS will send you a reminder notice but you will not be assessed a penalty for late filing the e-Postcard. However, an organization that fails to file required e-Postcards (or information returns – Forms 990 or 990-EZ) for three consecutive years will automatically lose its tax-exempt status. The revocation of the organization’s tax-exempt status will not take place until the filing due date of the third year.

Other Common Federal Filing Requirement of Exempt Organizations

View in PDF format Here

Bank & Sertoma Club Accounts
Bank Accounts
Each Sertoma club must have a bank account. This account is to be the depository for all funds of the club. The account must have the Club’s EIN number as assigned by the IRS.

If the club chooses to use two bank accounts, it should split the operations and sponsorship of the clubs into the accounts. All expenses for the operations of the club would be paid out of the operating funds while fundraising, charitable distributions, and program services would be paid out of the second account. Both accounts must be opened under the same EIN number.

Checks
The checking account is required by policy to have two signatures on file at the bank. This is a protective measure for both the club and the treasurer. All payments should be made by check for an audit trail. The treasurer is the custodian of the checkbook and should keep it in a secure location.

Sertoma Club Accounts
All fees and dues charged by Sertoma are placed on the Sertoma club account. The club will receive an invoice for all charges placed on the account. Quarterly statements showing the activity on the account are also sent to the club treasurer, as long as the balance on the account is over $2. All charges on the club account are due on receipt of the invoice. The account number is the club number as assigned by Sertoma when the club chartered. Please put this number on all checks and correspondence regarding the club account.

Not In Good Standing
Not In Good Standing is a classification placed on a Sertoma club when (1) its account carries a balance of $50 that is 60 days past due or (2) fails to provide required quarterly reports for two consecutive quarters . This standing is authorized by the Sertoma Bylaws and expected by the IRS as part of our group exemption. The IRS requires that all subordinate organizations be in good financial standing with the parent organization. Ramifications of being Not In Good Standing are not being allowed to use the group tax exemption from Sertoma, neither the club or members can vote at any elections, and not being allowed to participate in many award or other programs. Letters are sent to club presidents once per quarter if the club is Not In Good Standing. Any club that is Not In Good Standing for 4 (four) consecutive quarters is subject to charter revocation by the Board of Directors. A letter notifying the club of this situation will be sent prior to any action being taken.

The Club Budget
This section has been created with the input of the Sertoma legal counsel and auditor to recommend best practices. This is to assure appropriate use and clear accountability for the revenues and expenses of a typical Sertoma club. If a club feels some activity or function of the club does not fit into this model, please contact Sertoma Headquarters to determine the proper reporting and accounting.

Each year – prior to the beginning of the fiscal year (for a Sertoma club, that is the period from July 1 through June 30) – the incoming treasurer will prepare a balanced budget for the coming fiscal year. A budget is a projection of all expected revenues and expenses for the club. The budget can be as detailed as the club wishes, but must at least show the major categories of revenues and expenses. These should include: all charitable and earned revenues; dues to Sertoma and Divisions; bulletins; meeting rooms; meeting food; awards; postage; delegate expenses; supplies; and charitable-purpose fundraising expenses. A sample budget is provided for review (click for sample). Once approved by the club board of directors, changes in the total revenues and expenses for each category should not be authorized without an adjustment to the budget vote by the club board of directors.

Revenue
There are three revenue sources to include in the club’s operating budget. Each of these represents a certain type of income.

Dues revenue is money received from the members to belong to Sertoma, fund the operations of the club and provide for all Sertoma and Division dues. This amount should be calculated each year as necessary to make sure the club’s operating costs are being covered. When calculating the dues amount, take the total projected expenses to operate the club (see expenses for detail on this area) divided by the number of members in the club. The number of members in the club should be reduced by approximately 10% to allow for members who do not pay their dues, but for whom the club still has operating expenses. This percentage should be looked at annually by the club to determine if the percentage of dues-paying members should be increased or decreased. Remember that keeping members on your roles just to keep the numbers up can sometimes be detrimental to the club’s finances, as there are still expenses related to those members.

Investment and savings earnings is revenue received from earnings off money the club has saved. This can be in the form of interest from a savings account, interest from a certificate of deposit or, in some larger clubs, the investment earnings from stock and bond investments. Earnings from invested funds are not restricted in use according to the IRS, even it the money invested is restricted. Such earnings may be used to cover the cost of operations of the club.

Contributions, Gifts & Grants is revenue received from the clubs fundraising activities, direct gifts to the club’s, or grants from other organizations. The capability of the club to run charitable fundraisers is due to the 501(c)(3) exemption granted by the IRS.

These can be tax deductible to the donor or not depending upon the nature of your event. It is important that the club understand the nature of the difference, as it has a legal obligation to appropriately track and report revenue from fundraisers. This briefly outlines the three categories of charitable gifts:

Tax-Deductible Donations
Gifts of cash or other items can be eligible for a tax deduction if the donors do not receive any service or item of value in return. Items considered insubstantial by the IRS must have a value of $8 or less. As example, token gifts like coffee cups, listing in programs, and recognition at the event most likely do not affect the deduction.

Partially-Deductible Donations
In some cases the value of a service or gift received is such that it does affect the amount of the donation. A good example is a dinner event. A donor pays $100 to attend a dinner event. The IRS requires that the organization holding the event tell the donor in advance the fair market value of the dinner. Note this is the value, not the cost of the dinner. As example, the dinner and the speaker have a fair market value of $50 per person. Then the donor can only claim $50 as a donation, not the $100. With some events, such as golf tournaments, the costs can be equal to or even greater than the gifts, making no part of the gift deductible. See the Management of Charitable Funds section for greater detail on how to calculate fair market value.

Non-Deductible Gifts
When an item is purchased from a charity, the IRS has determined that the fair market value of the item is the amount of the gift. As example, the club sells holiday trees for $50 that cost the club only $25. In this case there is no deduction, as the IRS would consider the $50 as the fair market value of the tree. This would be the same for such items as candy sales or entertainments books. The exception to this rule would be in the case of auctions. At an auction the donor sets the price, not the charity, and as such can pay more than the fair market value for an item. If this is the case, the club should provide a receipt with the fair market value to the donor.

NOTE: Tax deductibility is determined by the tax status of the donor, and the club should not tell a donor a specific donation is deductible. A club should let the donor know what portion of any gift is eligible for consideration as a deduction as defined above. It is up to the donor and his/her tax advisors to determine if the deduction is available to the donor.

Expenses
There are three categories of expenses you need to track.

Financial Reports

A Sertoma club is a business. This requires that the Sertoma club be able to record and report all of its revenues and expenses in a manner that is understandable to the board, members and as an exempt charity to the public. As a public charity, anyone in the community may request to see the financial records of the club.

The following are the reports needed by a Sertoma club:

These reports require a time commitment, but it is critical that the treasurer maintain appropriate records. This responsibility makes the treasurer one of the most important roles in a club. The good news is that, if maintained on a monthly basis, the time involved in preparing these reports is manageable by a volunteer officer. For clubs with significant budgets, the services of a CPA or accountant can prove to be an appropriate, even a needed addition to the club’s budget.

Bank Statements
Received monthly, this is a reflection of the activity in the bank account during a period of time. The statement must be reconciled to the checkbook upon receipt. Contact the bank immediately if you find a posting error.

Financial Statements
The treasurer is responsible for the accounting and reporting of all club revenues and expenses during the fiscal year. This information is to be reported at every board of directors meeting and be available to all members. The financial statement should show a comparison to budget on all income and expense categories so the club has an understanding of where it stands against projections for the fiscal year. A sample report is provided for review (click for sample).

Accounts Payable & Receivable Reports
The payables report is a detail of any outstanding expenses not yet paid by the club. This must be approved by the board of directors prior to payment of the bills by check. After approval of this report is a great time for you, as treasurer, to write the check, as the second signatory should be at the meeting. The receivables report is a detail of all revenues that have not yet been received. The most common element for a Sertoma club will be outstanding dues. This report must list the term of delinquency of the outstanding amount. The treasurer needs to work closely with the secretary to keep the roster current. Make sure that both the club and Sertoma rosters reflect the same dues paying members.

A Sample Report is provided for review.

Management of Charitable Funds

Club fundraisers come in many forms. They can be as simple as having a car wash or as complex as running of bingo halls. No matter the type of fundraiser, there are common elements to all.

Expenses

Direct Expenses
These are expenses associated with the generation of revenue from a specific event. Examples of direct expenses would include:

Direct expenses are covered by the gross proceeds of the event. The resulting balance is the net proceeds. Net proceeds are used to cover any indirect expenses (if required) and to fund the club’s charitable and exempt purposes.

Indirect Expenses
These are expenses your club will incur in the process of supporting fundraising activities, but are not directly related to a specific event. One example is recruiting, retaining and training volunteers who will support a number of fundraising activities. Another would be the cost to maintain financial records, audit and reporting requirements for organizations operating as a 501(c)(3) organization.

You can recover indirect expenses from a fundraising event but, unlike direct expenses, it is not clear as to which expenses or how much. The IRS has not set a fixed amount or percentage. Recovering indirect costs requires careful consideration and documentation to justify the use of fundraising proceeds for indirect expenses.

Keep in mind that you are looking at recovery of a portion of these expenses that support only the fundraising activity of the club. Expenses related to the operations of the club may not be recovered as indirect fundraising expenses. To determine if an expense qualifies, ask these questions:

Allowable Percentage of Expenses
There is no set allowance; however, there are guidelines based on the type of event or activity undertaken. The following are some examples:

Revenues
Allocation Decisions
How the club promotes a fundraiser determines the allocation of revenues for all expense categories or for charitable distribution. Before promoting an event, the club needs to plan in advance the need to allocate funds for expenses (direct and indirect) as well as the expected charitable distribution. As a public charity, the Sertoma club is responsible to the public to use the funds in an appropriate manner. Some examples of how promotion strategies link to the appropriate allocation of charitable revenue follow.

Example One: The Sertoma club is holding a fundraising activity. In advertising it states “100% of the revenues of this event will go to support ABC Charitable Organization.” In this case, the club has said that all gross revenues will go to support one entity. This means the club would not be allowed to take out any direct, indirect or capitalized expenses from this revenue and must give all of the funds to this one organization. The expenses for this fundraiser must be paid for out of the operations or other fundraisers that are non-deductible to the donor.

Example Two: The Sertoma club is holding a fundraising activity. In it’s advertising it is stated that “Proceeds go to the support of ABC Charitable Organization.” In this case, the club is allowed to take out the direct, indirect and capitalized expenses of the fundraiser, but can only donate the money to the one listed entity.

Example Three: The Sertoma club is holding a fundraising activity. In it’s advertising it is stated that “Proceeds go to the support of the charitable programs/activities of the Sertoma club.” In this case, the club is allowed to take out its direct, indirect and capital expenses of the fundraiser and may use the money to support any part of the community as required at the time.

Charitable & Exempt Purpose Distribution
A club may distribute its fundraising dollars to governmental agencies, schools, nonprofit entities and in some cases individuals. For any of these distributions, there should be a check written for proof of the distribution. If the club is restricting the use of these funds by the recipient, a letter must accompany the check stating that restriction. An example of this would be a club giving money for the purchase of a new FM audio system for a classroom. The letter must state that this is what the money is to be used for; otherwise, the entity may use the funds at their discretion. While this is typically not a problem for small community agencies, this will help the club if there is ever a question of where its fundraising dollars have been used.

Distribution to individuals should be even more specific in use. It is recommended that a club not write a check directly to an individual, but to the medical provider, school or other entity for which the individual is requesting assistance. If the club gives the check directly to the individual, there is no guarantee the money is used for the requested need.

An example: Person in need of medical bills totaling $5,000. This person has sent solicitations to many organizations in the community. The total money received by the person is $6,000. If all of the funds have been sent to the person directly, there is no accountability that (1) the individual paid or owed the medical bill, or (2) if the person paid the $5,000 in medical bills, what happened to the other $1,000 raised? As a nonprofit entity the club is required to account for all funds that are raised from the community.

Payments of scholarships to students should follow the same rules. According to the IRS, a student who receives scholarship funds for greater than his/her education expenses is required to report that money as income. All scholarships must be sent directly to the school to be applied against the student’s account. The school is required to notify the student of any funds that are considered taxable. The club has no ability to find out if the student has taxable scholarship income or what portion of the club’s scholarship funds fall under this category.

In some cases direct gifts to individuals are appropriate, such as in the case of support following natural disasters or a crisis where providing for a specific item or need is not appropriate or feasible.

State Gaming Licenses

All states have different laws governing this area. Before the club decides to pursue any type of fundraiser that involves gambling, raffles and bingo, check with the office of the state department or attorney general for all required documentation, licensing and fee structure.

Many states that issue bingo licenses have specific requirements regarding who is allowed to work in the bingo halls and the use of revenues. In these states, only 501(c)(3) organizations are allowed to obtain the license, with the revenues being used for charitable purposes in the community. In conjunction with this, the workers of the bingo hall must be members or paid staff of the 501(c)(3).

All Sertoma clubs are incorporated 501(c)(3) organizations as long as the rules and regulations described in the Tax Exemptions and Registrations section of this manual have been meet.

The requirement of membership in the 501(c)(3) is defined as active dues-paying members or Life Members in the case of Sertoma. With this note, honorary members of a Sertoma club are not allowed to work bingo halls in many states, as they are not official members of the parent 501(c)(3) organization. If the club is using honorary membership for people who are not active in the club and only work the bingo halls, this could be breaking state licensing laws. The ramifications of this could be severe. If you need assistance with this issue, contact Sertoma Headquarters.

Substantiation & Disclosure Requirements

Quid Pro Quo
If a person makes a gift to a charitable organization in excess of $75 and receives something of material value in return, the charitable organization is to make a good faith estimate of the value of the item and notify the donor that only the difference between the fair market value of the item and the amount paid for it (if any) is deductible as a charitable contribution. This law comes into effect with many fundraisers conducted by Sertoma clubs.

Example: A Sertoma club conducts a golf tournament each year. The entry fee is $250. The total value of the green and cart fees, goody bag and cocktail party is $100. On the disclosure statement the Sertoma club issues, it states that of the $250 received, $150 is considered a tax-deductible contribution. Even if the Sertoma club receives a portion of these items donated, the value of the item received by the donor must be used in the calculation of the tax-deductible portion.

Gift of $250 or More
Donations made to your Sertoma club of $250 or more, whether from a corporation, business or individual, cannot be deducted without a receipt from the club treasurer acknowledging the total amount contributed and purpose, the date of the contribution and a statement of whether the donor received any goods or services in return, and a description and good faith estimate of the fair market value of those goods or services. Please note that this substantiation is required of a $250 or greater contribution at one time and not a total giving of $250 or more over a period of time.

Deduction of Volunteer Expenses of $250 or More
Unreimbursed expenses incurred while performing volunteer duties, totaling $250 or more per event, cannot be deducted on income taxes unless the volunteer has both receipts and a written substantiation from the organization. IRS guidelines, 1995, Section 1.170A-I(g).

If the unreimbursed expenses for an individual event are less than $250, only receipts are required and the organization does not need to provide substantiation. This written acknowledgement from the organization, if needed, must contain a description of the services provided by the donor, the date the services were provided, whether or not the organization provided any goods or services in return, and a good faith estimate of those goods and services. Individuals who have volunteered for your club and have incurred volunteer expenses that were un-reimbursed may be asking you for such substantiation.

Evaluation of a Fundraiser as a Report to the Board of Directors

Financial evaluation of each fundraiser is key in determining if the event is successful. While some large fundraisers can have a negative return the first year, the following years should prove profitable if it is to continue. The club should evaluate the net effect (revenues minus expenses) of all fundraisers to determine their value to the club in helping the community.

A Sample Fundraising Financial Report is provided for review.

Overview
The Sertoma club treasurer has four main responsibilities:
  1) structure and report on a budget for the fiscal year;
  2) account for all revenue and expenses of the club;
  3) assure appropriate use of funds – operations and sponsorships; and
  4) report to the club members, club board, community, Sertoma and IRS all        information as requested.

Resources

Club Treasurer Sample Calendar

Sample calendar here.

Sample calendar in PDF format here.

Glossary of Terms here.

Sample Budget here.

Sample Financial Statements here.

Sample Accounts Payable/Accounts Receivable Reports here.

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