- Attends all chapter membership and board of directors meetings.
- Maintains necessary general chapter bank accounts in the name of
the Law Librarians Association of Wisconsin.
- Is the primary registered
signing agent (along with the president) on all accounts of the chapter.
- Is responsible for changing the signing authority records
with the bank upon assuming office.
- Deposits money in the checking account
by mail or in person. Enters
transactions in the checkbook and in the ledger. Properly endorses
checks prior to deposit.
- Deposits money in the savings account by mail or in person. Enters
transactions in the savings account book and in the ledger. Properly
endorses checks prior to deposit.
- Collects funds payable to the chapter and ensures their deposit in
the appropriate bank accounts.
- Ensures prompt payment for chapter expenditures
after approval of the chapter officer incurring the expense. A request
for payment must
include an invoice or other acceptable documentation. A request for
reimbursement should include a receipt whenever possible. The treasurer
may draft a check for payment under his/her own power unless the
amount is excessive or there is a question regarding the validity of
the request
- Closes account ledgers as of May 31, the end of the Association's
fiscal year. Totals all columns and balance. New ledger pages should
be started as of June 1.
- Prepares a quarterly financial report to be given at each quarterly
meeting. Submits a written copy of this report to the newsletter editor
to be included in the next issue. Retains a copy of the report in the
treasurer's files. The report should reflect all income and disbursements
since the last report for all accounts.
- Oversees the preparation of the annual budget at the first quarterly
Board of Directors meeting.
- Maintains any records as necessary during
the year and turns this
material over at the end of the year to the incoming treasurer or the
chapter archives as appropriate. Records of prime importance for
transfer
to the incoming treasurer include ongoing account ledgers, current
checkbook
and savings account book, and files of bank statements, invoices, deposit
slips, etc. When handing records over to the incoming treasurer,
the
outgoing treasurer should balance the records for all transactions
to
date in that fiscal year. Account ledgers and reports should be permanently
retained in the chapter archives. Other financial records must be
retained
seven years to meet legal requirements.
- In the event there is no replacement
for an outgoing treasurer (e.g. in case of resignation), the treasurer
will turn over the books to the president of the organization.
Revised: March 2005
