Treasurer
Roles, Responsibilities and Tasks
The Role of the Club Treasurer
The Club Treasurer is responsible for all
financial matters pertaining to the club
Meetings
The Treasurer should be in attendance at all Club
meetings and Board of Directors meetings.
Treasurer’s Role
• Club Meetings:
– Keep members informed
– Be prepared to present financial
information at club meetings
– Oral reports should be concise, factual and to
the point
– Be prepared to collect money and issue receipts
Keeping Funds / Accounts in Order
• The Club Treasurer is charged with keeping the
club’s funds and accounts in order
• Receive all club-related monies both from
membership dues and the clubs activities
• Work with the secretary to send out a club dues
invoice at the start of the dues-paying period
(1st July and 1st January)
Treasurer’s Role
Prepare budgets
• Administration budget
• Activities Budget
Accounting
Review current banking arrangements
Funds for administration and activities must be kept
separate through book-keeping and two bank accounts
1. Administration
– funds from dues, fines and internal funds
2. Activities/Charity/Services
– funds raised from the public
Other bank accounts can be opened for special projects
Treasurer Role
Review and select officers for signing and cosigning cheques. Obtain approval from the
Club or Board of Directors
Treasurer Role
Deposit monies in predetermined accounts
– Bank monies within 48 hours of receipt
– Immediately update record-keeping
Treasurer Role
All payments must be authorised by the Club
members or Board of Directors
Pay Lions Clubs bills promptly
• Ensure approval is recorded meeting minutes
Record-Keeping and Reports
Organised and accurate record-keeping and
submitting financial accounts appropriately
are priorities for the Club Treasurer.
Record-Keeping and Reports
• Maintain general records of club receipts and
payments
– Reconcile bank statements
– Record monthly income and expenses promptly
– Review itemised LCI statement and submit to the
club for approval. This statement should also be
verified by the Secretary especially when
membership dues are included
– Use a ledger book or computer spreadsheet
– Record dues when paid
Reporting
• Semi-annual and annual financial statements
• Reports to be brief, factual and informative
• Meeting reports include a brief income and
expenses statement
• Written list of transactions to the Secretary for
inclusion in meeting minutes.
• Copy of annual audited accounts MUST be
approved by the Club and a copy forwarded to the
District Treasurer
Charitable Status
• ROI Charity No. – CHY 15707
• NI Charity Ref: - XR 90123 numbers not issued in NI
• Upon Application Exemption or Relief from –
• Capital Acquisition Tax (Gift or Inheritance Tax)
• Companies Capital Duty
• Stamp Duty on transfer or lease of land
• Rates on premises in NI
There is NO exemption from V.A.T.
Gift Aid
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Mainly applicable to Northern Ireland
PAYE Taxpayers can donate to a Lions Club as a tax
free donation
No minimum limit in NI - €250 in ROI
Membership dues can be a donation if the Lion is a
taxpayer
Income from certain types of fundraising can also be
noted as a donation
Donations from taxpayers warrant an application for a
tax rebate of up to 25%
Gift Aid
Membership dues for 4 years up front would be
applicable but requires detailed bookkeeping
In all cases rebate applications to be processed via
District Charity Trust Officer (PDG Donal Horgan)
All clubs participating in Charitable Status or Gift Aid
scheme must have lodged recent audited financial with
the District Treasurer
End of Term
Audit Reports/Records
– It is sound accounting procedure to audit the
records at the end of each fiscal year
– Respected Lions are appointed to do the audit
– Remember to send a copy to the District
Treasurer
Leadership
Please remember Club members look at the
Treasurer as one of the leaders of the Club.
You need to act as a Leader
Further Topics Included in the
Club Treasurers Guide
• LCI Organisational
Structure
• Club Structure
• Board of Directors
• Leadership Skills
• Lions Learning Center
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Youth Payment
Membership Types
Family Membership Prog
Sample income/payments
Sample Balance sheet
Gift Aid Forms
Thank you for listening
Any Questions?