Treasurer

Officer Duties and Descriptions: TREASURER

I. Bylaw Duties
The Treasurer is responsible for maintaining the financial records of the Association; shall obtain the approval of the President on all bills before payment; and shall make an informal report to the members of the Association at the formal annual business meeting. The Treasurer shall enforce all fiscal policies and procedures for the Association and shall report any discrepancies to the Executive Board. The Treasurer will manage all banking activity for the President and President-Elect and for the Chairs of the Local Arrangements Committee and Program Committee, as appropriate, and shall reconcile each account. At the end of each year, the Treasurer shall prepare a complete formal report, including an accountant's review of financial statements, for distribution to the Executive Board and for submission to the next succeeding treasurer. The outgoing Treasurer will transition with the incoming Treasurer through the close of the fiscal year (January 31) following election of the new Treasurer.

II. Specific Duties

  1. Transitional Responsibilities
    1. Obtain training, notebooks, software, and financial records from predecessor.
    2. Add new Treasurer to existing accounts, or establish new accounts, if necessary, upon assuming office. Establish bank accounts with reputable institutions that are reasonably accessible for the Treasurer , other board members and Local Arrangements Committee Chair; require minimal monthly fees; and provide a reasonable rate of return on accounts. Order 200 checks for main checking account that will last the entire two-year tenure. About 100 checks are written each year.
    3. Provide training for the incoming Treasurer at the conclusion of the two-year term.
    4. Provide a copy of the Articles of Incorporation, Tax ID, and funds for the opening of new bank accounts. Select an account with no or minimal fees. A minimum balance may be required.
  2. Annual Responsibilities
    1. Assist the President and Executive Board with the development of new budget to be presented and reviewed at the Winter Executive Board Meeting.
    2. Determine amount of cash carried forward from the previous year's budget.
    3. Regularly review expenditures and update master account spreadsheet accordingly. Expenditures should stay within budget. Notify the Executive Board of any significant variances, and make adjustments as determined by the board.
    4. Set up a Local Arrangements Committee bank account that includes the committee chair and transfer seed money.
    5. Coordinate the sending of membership renewal notice and receipt of dues with the Vice President for Membership and the Vice President for Publications and Information Technology. Ensure all payments received are entered into ATAC database so notification, when sent, is current.
    6. Maintain an electronic record (currently using QuickBooks) of all financial transactions.
    7. Maintain financial records of institutional memberships.
    8. Review savings and investment options and recommend to the board a reasonable strategy for maximizing return on investment while minimizing risk to principle.
    9. With board approval, deposit savings into selected financial instruments.
    10. Make deposits of association receipts in a timely manner, including membership dues, income from the annual conference, business partner income, job postings, etc. Maintain records of all transactions for auditing purposes.
    11. Write checks as authorized by the President for budgeted items, i.e., advances to Local Arrangements and Program Committees, reimbursements for board travel expenses.
    12. Write checks as authorized by the Executive Board for non budgeted items, i.e., late reimbursements from the previous fiscal year.
    13. Prepare monthly reconciliation on all accounts.
    14. With the Vice President of Membership, correspond as necessary with member institutions that submit incomplete renewals, i.e., missing payment, missing form, request for invoices , etc.
    15. Obtain/renew annual insurance. Correspond with current insurer during the spring and summer to confirm coverage and costs for renewal in September.
    16. File tax returns. Receive and review financial reports from the Local Arrangements Committee Chair, Program Committee Chair, and coordinators of other activities conducted by the Association. With assistance from a tax professional, prepare and submit appropriate IRS documents by July 15, for the previous year.
    17. Submit incorporation renewal to the State of Oregon and pay annual fee.
    18. Prepare regular financial reports. Prepare a budget status report for the winter and summer Executive Board meetings.
    19. Prepare a brief budget status report and present it to the membership at the Annual Business Meeting.
    20. Coordinate and meet with the Audit Committee at the Winter Executive Board Meeting and as necessary throughout the year for annual audit work.
  3. Coordinate Preparation of Compiled Financial Statements
    1. Coordinate the preparation of compiled financial statements annually (at the end of the fiscal year). Identify an accountant who will provide this service and negotiate a reasonable fee.
    2. Collect and submit all necessary financial documents to the accountant for review. Respond to questions about records as necessary.
    3. Obtain and forward a copy of the accountant's report to the Executive Board for financial review.
    4. With assistance of accountant, submit annual Tax Return to IRS.
    5. Remain on Board until end of the PACRAO Fiscal Year (End of January) to assist incoming Treasurer with transition.
  4. Conference Responsibilities
    1. Prepare and distribute a financial report to the Membership at the Annual Business Meeting.
  5. Executive Board Responsibilities
    1. Serve as a voting member of the Executive Board.
    2. Participate in all Executive Board meetings, in person and via telephone.
    3. Contribute newsletter articles to the PACRAO quarterly newsletters.
    4. Write and submit three reports (one for Winter Executive Board Meeting, one for Summer Executive Board Meeting, one year-end report for the Executive Board Meeting prior to the Annual Conference).

III. Required and Optional Meetings:

  1. Annual Conference while assuming Treasurer position (paid by your institution)
    1. Saturday afternoon-Sunday morning Executive Board Meeting prior to conference
    2. Sunday afternoon First-Time Attendee Session
    3. Sunday evening Opening Session
    4. Wednesday morning Annual Business Meeting
    5. Wednesday afternoon Executive Board Meeting following conference
  2. Winter Executive Board Meeting of first year (paid by PACRAO)
    1. Late January/early February at upcoming conference location, usually Friday-Sunday
  3. AACRAO Annual Meeting (optional, paid by your institution)
    1. State and Regional Officers' Meeting (free pre-conference workshop)
    2. PACRAO Executive Board Meeting for those attending AACRAO if arranged by PACRAO President
  4. Summer Executive Board Meeting of first year (paid by PACRAO)
    1. Late June to early August at conference location 18 months out, usually Friday-Sunday
  5. Annual Conference at end of first year (paid by your institution)
    1. Saturday-Sunday morning Executive Board Meeting prior to conference
    2. Sunday afternoon First-Time Attendee Session
    3. Sunday evening Opening Session
    4. Wednesday morning Annual Business Meeting
    5. Wednesday afternoon Executive Board Meeting following conference
  6. Winter Executive Board Meeting of second year (paid by PACRAO)
    1. Late January/early February at upcoming conference location, usually Friday-Sunday
  7. AACRAO Annual Meeting (optional, paid by your institution)
    1. State and Regional Officers' Meeting (free pre-conference workshop)
    2. PACRAO Executive Board Meeting for those attending AACRAO if arranged by PACRAO President
  8. Summer Executive Board Meeting of second year (paid by PACRAO)
    1. Late June to early August at conference location 18 months out, usually Friday-Sunday
  9. Annual Conference at end of second year (paid by your institution)
    1. Saturday-Sunday morning Executive Board Meeting prior to conference
    2. Sunday afternoon First-Time Attendee Session
    3. Sunday evening Opening Session
    4. Wednesday morning Annual Business Meeting
    5. Wednesday afternoon Executive Board Meeting following conference
  10. Winter Executive Board Meeting following second year (paid by PACRAO)
    1. Transition meeting with incoming Treasurer and Audit Committee
    2. Late January/early February at upcoming conference location, usually Friday-Sunday

* Refer to Executive Board Calendar for specific tasks each month.

28 Jan 2015