The Treasurer shall be custodian of the funds and all subsequent records of the Corporation and shall conduct its financial business. Checks shall be signed by the Treasurer or other designated officers. Two (2) officers shall sign checks issued for over two hundred dollars ($200.00). The Treasurer?s duties shall include:
a) to compile and distribute to the Board of Directors a monthly financial report for their review and approval;
b) to compile and present for the Board of Director?s approval within sixty (60) days after the conclusion of each fiscal year of the Corporation, or as soon as completed, an Annual Statement of Revenue and Expenses, a Corporate Balance Sheet and other financial statements as necessary regarding the corporations financial condition;
c) to arrange for the completion of required State and Federal Tax Returns at the conclusion of each fiscal year with copies of such being distributed and approved by the Board of Directors;
d) to perform such other duties as are incidental of that office and as required by the President and Board.
The Real Job
The real job is correct and proper handling of the money. All checks are received by the treasurer, and written by the treasurer. We need an accurate list of exactly who donated and how much they donated, and we need an accurate list of where the funds have gone and for what purpose they were spent. You will need to use some software to track this properly, and be prepared to generate specific reports monthly and at the end of the year. Most important, the filing of the federal and state tax forms is critical because there are very high penalties for being late.
Yearly Checklist
Annual Statement of Revenue and Expenses, July
federal IRS 990 forms are filed by Nov 15 of each year
the state 199 forms are filed by Nov 15 of each year,
the California Statement of Information is filed every two years
STMAA Position - Treasurer
The Treasurer shall be custodian of the funds and all subsequent records of the Corporation and shall conduct its financial business. Checks shall be signed by the Treasurer or other designated officers. Two (2) officers shall sign checks issued for over two hundred dollars ($200.00). The Treasurer?s duties shall include:
The Real Job
The real job is correct and proper handling of the money. All checks are received by the treasurer, and written by the treasurer. We need an accurate list of exactly who donated and how much they donated, and we need an accurate list of where the funds have gone and for what purpose they were spent. You will need to use some software to track this properly, and be prepared to generate specific reports monthly and at the end of the year. Most important, the filing of the federal and state tax forms is critical because there are very high penalties for being late.
Yearly Checklist
Monthly Checklist
Past Officers
Santa Teresa Music & Arts Association , STMAA Bylaws