Treasurer

The Role

 

The FEEF Treasurer is responsible for handling all money matters related to FEEF. For reference, last year FEEF raised approximately $250,000. Although the Treasurer tracks all of these funds, prioritization and allocation of how the funds are to be spent is done primarily by the board.

 

Along with the President and Secretary, this role is one of the three that is required each year by the FEEF bylaws.

 

Key Activities

 

  • Chairs budget committee and prepares annual budget for adoption by the board

  • Receive and record all funds raised by FEEF, keeping an accurate record of receipts and expenditures.

  • Place all monies in a depository approved by FEEF.

  • Pay out funds in accordance with the budget approved by the membership, as demonstrated by supporting receipts provided to the Treasurer with a request for payment or reimbursement. In addition to the Treasurer, the President signs checks. No officer may write a check for reimbursement to himself or herself or to a family member.

  • Draft all checks and mail/distribute them to vendors (or parents for reimbursement),
    Keep track of and manage the funds in FEEF's various bank accounts. For invested funds, keep track of maturity and interest rates.

  • Prepare a report of relevant financial information to the FEEF Board in monthly board meetings and an annual financial report

  • Maintain all the necessary tax records, including receipts. Ensure the taxes get done and filed on time. Pay any taxes FEEF owes and make sure funds are available.

  • Be responsible for completion and filing of any forms as may be required by Internal Revenue Service Regulations no later than the date established by the regulations.

  • Provide the checkbook, all bank statements, canceled and voided checks, deposit slips, treasurer’s record book and receipt book, invoices and receipts for all disbursements to the Auditor at the close of the fiscal year.

  • Archive financial records for seven fiscal years.

 

How TOs

 

Managing FEEF Funds – All board members share a fiduciary responsibility to manage FEEF money well. And, as one of three required officers for a FEEF, the treasurer is the authorized custodian of FEEF funds.

 

Important Tasks – At the start of the term, remember to update the signature cards for any FEEF bank account and any usernames and passwords for access to online financial programs and services.

 

Monthly Activities

 

Tracking Funds:

  • Maintains a permanent record to track FEEF income, receipts and disbursements

  • Submits written report for board meetings, detailing income and expenses since the last meeting

 

Collecting Funds:

  • Ensures monies are counted by two members

  • Receives funds collected by other FEEF volunteers and issues receipts

  • Makes deposits of money and checks immediately in the bank account, retaining deposit slips

 

Disbursing Funds:

  • Receives itemized bills, sales slips and invoices for payment by check

  • Prepares authorizations for payment and co-signed by the president

  • Issues checks with two signatures to pay bills as directed by the board

  • Keeps FEEF checkbook up to date to show current balance

  • Reconciles monthly bank statement promptly

 

Annual Tasks:

 

  • Chairs budget committee and prepares budget for adoption by the board

  • Prepares an Annual Financial Report, covering the current fiscal year

  • Ensures federal and state taxes are filed by Nov 15 for the previous school year, or an extension is filed by that date. If an extension is filed, the taxes must be filed by Feb 15 of the next year

  • Insurance premiums for the next year are paid on time (By Nov 15)

  • Registration Renewal Fee Report (RRF-1) is filed with the California Attorney General’s Registry of Charitable Trusts within 30 days of the tax filing

  • Submits financial records for audit annually,

 

Time Estimates:

Previous volunteers who have done this job have reported: 3-4 hours per month on average

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© Copyright 2018 Faria FEEF

Tax ID: 77-0495699

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School Address

10155 Barbara Lane

Cupertino, CA 95014