Club Checking and Savings Accounts
All 4-H clubs/groups that collect money or raise funds to maintain the clubs/groups should
establish a checking or savings account at a public financial institution. An exception is made for
4-H clubs/groups that raise or hold less than twenty dollars ($20) in the 4-H club/group treasury.
Money not placed in an account should be held in a secure location and detailed records of fund
use should be maintained. The club/group treasurer is required to maintain adequate and
accurate records of the club/group’s funds and be accountable for those monies to the
members, leaders and the public. All 4-H groups that handle funds must submit a completed
Illinois 4-H Treasurer’s Book to the University of Illinois Extension office at the close of the 4-H
year.
Clubs/groups that maintain club/group funds are required to select a treasurer from the
membership. The treasurer will be a signatory on the club/group’s fiscal account. A minimum of
two (2) elected or designated adults also will be signatories on the account. The club/group may
determine that it is necessary to designate other appropriate individuals as additional
signatories on the account. Two signatures are required on all checks, that of the treasurer and
that of one adult. Banking laws require that whenever the treasurer is younger than age 21
years, the co-signer must be an adult. It is not recommended that a parent and child from the
same family be co-signers. Authorized signatures will need to be updated each time a new
treasurer is elected or when leadership changes in the group.
The name of the public financial institution holding 4-H funds and the account number(s) of all 4H club fiscal accounts must be recorded in the Illinois 4-H Treasurer’s Record Book. Club/group
monies should not be commingled in personal financial accounts.
Illinois 4-H Cloverbud groups are not required to select a treasurer from the membership. A
minimum of two designated adults will be signatories on the account and two signatures are
required on all checks.
Handling Cash
All 4-H club/group financial transactions should take place by check rather than cash to ensure
accountability. The 4-H leaders should encourage the treasurer to deposit funds promptly. All
money received should be acknowledged with a written receipt, preferably pre-numbered. The
receipt should include the source of the funds (such as a car wash, fruit sales, etc), the date,
and if possible, the name of the person making the payments. These receipts are the back-up
documentation for any bank deposits made. The receipts should also become a permanent part
of the treasurer’s records.
Club/Group Fund Raising Guidelines
Whether selling a product, soliciting donations, or requesting in-kind support, it is the goal of 4-H
to project an image of a high quality, educational organization. Fund-raising projects that contain
poor quality products or services, that violate general community standards or that are
inconsistent with a youth-oriented educational program, should be avoided. Any individual or
group soliciting funds, awards, merchandise, or selling materials or service in the name of 4-H
shall do so only with the full knowledge and consent of the appropriate University of Illinois
Extension staff before initiating any fund raising activities.
Some examples of appropriate fund raising:
Car washes
Product sales (candy, nuts, fruits, flowers, gift items, bird houses, pizzas, etc)
Carnival or fair booth
Donations for a specific activity
Special grants
Illinois 4-H clubs should receive advance approval from the Extension Unit staff when planning
or conducting a fundraiser. This will ensure that the club/group is operating within the policies
and guidelines relating to the use of the 4-H name and emblem and fiscal policies of University
of Illinois Extension. All money raised using the 4-H name and emblem must be used for 4-H
educational programs and activities.
Charitable Activities
Clubs/groups that raise money on behalf of another charity must inform the public of that
charity’s identity and that the monies are not being raised for 4-H. The club/group may use the
club/group financial account to deposit monies collected for another charity; however, a
separate deposit slip shall be used to deposit those monies. A single check should be issued to
the charitable cause/organization in the exact amount raised.
Through a majority vote of the membership, 4-H clubs/groups may provide financial donations
to an organization or charity from monies generated by club/group efforts. Illinois 4-H
clubs/groups must secure approval from the County Extension Director or his/her designee prior
to making a contribution of $100 or more to any organization or charity.
Reports and Audits
Adult 4-H leaders need to work closely with the club treasurer to complete the Illinois 4-H
Treasurer’s Record Book and monthly treasurer’s reports. The former summarizes the club’s
financial activities for the year.
Each 4-H club/group that maintains a treasury or holds financial assets must present annually to
the Extension office a statement of accounting, that consists of an audited Illinois 4-H
Treasurer’s Record Book for the year being reviewed. A committee should be appointed to audit
the financial records of the club/group. The committee should consist of three individuals who
are not involved in the expenditure of funds. The suggested make-up of the audit committee is a
parent, leader, and member of the club/group. The individuals on the audit committee shall not
be signatories on the bank account, nor shall they be related to those with signature authority. If
there are not three individuals that fit these criteria, the club/group should work out an
alternative arrangement to have the club’s financial records audited with the local Extension
office.
The auditors examine and verify the account of the 4-H group at the end of the year or when a
new treasurer takes office. When the facts have been verified, the members of the audit
committee should sign the financial statement in the treasurer’s book. An audit prevents
misunderstandings, and protects the outgoing and incoming treasurer of the 4-H group.
In performing the audit, the following information should be examined – bank statements,
cancelled checks, copies of bills paid, deposit slips, receipts for cash/checks received by the
club. The following steps should be followed:
1. Ensure the bank statements for the club account are included with the Illinois 4-H
Treasurer’s Record Book, so that they can be reviewed during the audit.
2. Ensure new signature cards are completed annually. The club/group minutes should
reflect who has authority to sign checks. The club Secretary’s Record Book must be
submitted along with the Illinois 4-H Treasurer’s Record Book for audit review. Ensure
that a copy of the signatory card in included with the Illinois 4-H Treasurer’s Record
Book information.
3. Ensure all income is deposited into the account.
4. Ensure all expenses are paid by check or receipted if cash is paid out. Ensure that all
receipts for the past year are in date order in the receipts record, or are attached to an
event financial sheet.
5. Ensure the vendor and the amount of the check match the invoice.
6. Ensure all expenses are reviewed and approved by the appropriate authorizing person
(noted in club/group minutes and approved by the leader).
7. Ensure checks have proper signatures and that signatures have been registered with the
bank. Two signatures are required on all checks. Checks should not be pre-signed.
8.
Ensure that all bank statements have been reconciled. They should be initialed and
dated by the person who reconciled the bank statement.
9. Ensure the end of month book balances agree with the balances on the bank statement
reconciliation. Review the “Record of Club Finances” on the front page of the Illinois 4-H
Treasurer’s Record Book. Check the following in the financial statement:

Check income and expense balance figures

Ensure club has a checking account

Check Treasurer’s signature line for signature

Check last page of the Illinois 4-H Treasurer’s Record Book to be sure club inventory
was completed.

Ensure the figures appearing on the record of club finances agree with the
financial statement.

After all steps have been completed and when the audit committee verifies the facts,
they may sign the financial statement on the “Record of Club Finances” and forward
the Treasurer’s Record Book to the appropriate club leader.
Photocopies of each club/group’s audit report or Illinois 4-H Treasurer’s Record Book shall be
maintained in the University of Illinois Extension Unit office for a period of three years. The
treasurer’s original record book may be returned to the club/group.
Receipt of the Illinois 4-H Treasurer’s Record Book and confirmation of the audit shall be
required for re-authorization of the club’s/group’s use of the 4-H name and emblem for the
following year. Clubs/groups will not be re-enrolled until this requirement is met.
Saving 4-H Club Records
In accordance with University of Illinois Extension fiscal procedures, Illinois 4-H club should
retain the following fiscal records for the duration indicated:
.
Bank statements should be retained for two years.
.
Checks should be retained for seven years.
.
Illinois 4-H Treasurer’s Record Book, including receipts, should be retained for three
years plus the current year.
State Sales Tax Exemption
4-H club/groups are authorized to use the University of Illinois identification number for taxexempt organizations. The number is E9989-9779-05. This tax-exempt number may be used in
support of 4-H activities only. It may not be used for personal use.