NORTHERN CALIFORNIA SECTION OPERATIONS MANUAL
Updated: July 30, 1998

TREASURER

DUTIES

It is the responsibility of the Treasurer of the Northern California Section of the Institute of Food Technologists to:

1. Manage the finances of the Section

2. Provide regular status reports to the Executive Committee of the finances highlighting any outstanding expenditures

3. Examine and approve/disapprove for payment all invoices and submitted expenses

4. Ensure that the Section adheres to all Federal, State and Local tax regulations

5. Ensure that the financial records of the Section, both the general ledger and that of the Arrangements Committee are audited on a regular basis by a committee appointed by the Executive Committee

6. Attend all Executive Committee and regular Section meetings

7. Submit the Section financial report to National each year

8. Prepare a budget for the upcoming year with input from all officers, committees and Sub-Sections.

9. Ensure that signature cards are current to allow the Section to operate

10. Prepare and send 1099 forms to any persons receiving greater than 600.00 from NCIFT
 

TIME LINES

July 1
· Prepare year-end financial report
· If the office is "turning over", prepare this report with the incoming officer
· Collect budget requests from all officers, committees and Sub-Sections and prepare budget for new fiscal year

August 1
· Prepare financial report for August Executive Committee meeting
· Review budget with Executive Committee; make any changes and have approved
· Attend August Executive Committee meeting

September 15
· Attend September regular section meeting

October 1
· Prepare financial report for October Executive Committee meeting
· Attend October Executive Committee meeting
· Submit Sections financial information to tax accountant

November 15
· Attend November regular section meeting
· File state and federal taxes

December 1
· Prepare financial report for December Executive Committee meeting
· Attend December Executive Committee meeting

January 15
· Ensure that proper tax forms are filed with the City of Berkeley to ensure continuation of the Section's second class mailing permit.
· File non-profit association forms with federal and state tax boards.
· File and pay the City of Berkeley business tax forms.

January 31
· Send 1009 forms to those receiving greater than 600.00 from NCIFT

February 1
· Prepare a financial report for the February Executive Committee meeting
· Attend February Executive Committee Meeting

April 1
· Prepare a financial report for the April Executive Committee meeting
· Attend April Executive Committee Meeting
· Send budget requests to all officers, committees and Sub-Sections

June 1
· Prepare a financial report for the June Executive Committee meeting
· Attend June Executive Committee Meeting
· Prepare Section financial report and submit to National

HINTS TO MAKE THE JOB EASIER

Financial Reports

1. Be sure to prepare reports for every Executive Committee Meeting

2. Enter all transactions (debits, income, etc.) in the ledger which is maintained in the NCIFT office

3. Be sure that all entries add up properly.

4. Enter reporting period and year-to-date expenses on the report form. Include the status of the checking and market account in each report.

5. Contact Wells Fargo bank for quick updates on account status. This requires knowing the account numbers and the Section tax ID number.

6. (Optional) Note projected Hornblower income and any unusual expenditures on financial reports.
 

Tax Filing

1. Submit the general ledger, all period financial reports, a list of officers with their addresses and telephone numbers and the Section By-laws to the tax accountant.

2. Submit copies of all established procedures for dispersal of funds to groups or individuals. An example would be those procedures for funding student travel.

3. Review the accountant's work, sign both federal and state forms and forward them to the appropriate agencies. They must be postmarked by November 15.

Our present tax accountant is:

Mr. Roland Carr
525 Tamal Plaza
Corte Madera, CA 94925
TEL (415) 924-1643

Audit Committee

1. Provide all books, vouchers, deposits, etc. to the appointed committee.

2. Provide assistance as needed

3. Review records and prepare appropriate recommendations based on the review.

4. Submit audit committee report to the Executive Committee

Additional Hints

1. Contact past treasurers should you have questions.

2. Use the National IFT office as a reference as needed


Return to NCIFT homepage.