CHAPTER VICE PRESIDENT TREASURER
ROLES & RESPONSIBILITIES
POSITION DESCRIPTION
CHAPTER VICE PRESIDENT TREASURER
The Chapter Vice President Treasurer is elected by the members of the Chapter
in accordance with the National Bylaws and Chapter Bylaws and is responsible
and accountable to the Chapter President, and the Chapter Board of Directors,
where applicable, for chapter financial activities.
AUTHORITY
The Chapter Vice President Treasurer follows the Chapter Secretary in the line of
chapter authority. The Chapter Vice President Treasurer is empowered and
authorized to effectively manage and maintain accurate records of the Chapter's
finances. In the absence or incapacity of the Chapter President, President-Elect
and Vice President Secretary, the Chapter Vice President Treasurer shall
automatically assume the authority, duties, and responsibilities of the Chapter
President.
At the discretion of the Chapter President, a Chapter Finance Committee may be
established to assist the Treasurer in his / her responsibilities. The Chapter Vice
President Treasurer would be the Chairman of the Finance Committee and would
appoint members.
DUTIES AND RESPONSIBILITIES
Subject to the Chapter By laws, the specific duties and responsibilities of the
Chapter Vice President Treasurer, individually and as the Chairperson of the
Chapter Finance Committee, if established, are as follows:
Serve as a member of the Chapter Board of Directors.
Develop, in cooperation with the Chapter Officers, annual income and expense
forecasts for budget planning and forecasting. Provide assistance and guidance
to all Chapter Officers and committees in developing annual budget
requirements. With the Chapter President, prepare the Chapter Annual Budget
for approval by the Chapter Executive Assembly.
Ensure that income producing projects are in concert with the National Bylaws,
Mission Statement and Local, State, and Federal statutes.
As of August 3rd, 2004
Participate with the Chapter President in preparation of the Chapter Long Range
Plan and Annual Operating Plan.
Exercise signatory authority for banking purposes.
Receive all Chapter income and deposit of it to the credit of the chapter in a bank
or financial institution approved by the Chapter Board of Directors.
Pay all accounts payable in a timely manner.
Maintain custody and handle any Chapter petty cash fund(s) authorized by the
Board of Directors. Collect and disburse money for meals and other charges at
all Chapter functions, programs, etc., and for the payment of expenses
authorized in connection with such functions. Ensure that collections and
payments are reflected in formal reports of receipts and expenditures.
Maintain the official Chapter financial records and prepare monthly or other
periodic financial reports in accordance with the guidance in Attachment 1..
Maintain oversight of all Chapter income, expenditures and commitments and
provide recommendations for changes where needed.
Support the performance of an annual independent audit of chapter financial
records by providing all appropriate information.
Have all financial books and records available at all times for inspection by the
Chapter President, Executive Assembly, or an authorized National Officer.
Refer to the Finance Functional Manual for more detailed guidance.
PERFORMANCE SCHEDULE
Within 10 days of the Chapter’s Strategic Planning meeting, or as directed by the
Chapter President, submit to the Board of Directors an Annual Budget for the
program year. Additionally, as directed by the Chapter President, the Vice
President Treasurer will submit an Annual Operating Plan, which includes, (as a
minimum) a description of the Vice President Treasurer's goals and the method
of attaining those goals.
On or before each regular meeting of the Board of Directors, the Vice President
Treasurer will prepare and distribute a formal, signed report of all Chapter
financial transactions for the preceding month to the Chapter Board of Directors
for approval with appropriate copies to committee chairpersons.
Sixty days prior to the conclusion of the Chapter's program year, the Vice
President Treasurer will solicit the services of an independent auditor(who may
As of August 3rd, 2004
be a Chapter member or team of members) to audit the chapter's financial books
and records. The Independent Auditor must be approved by the Chapter
President.
On or before the 10th working day following the close of the chapter's program
year the Vice President Treasurer will prepare and distribute a signed
(unaudited) report of the financial condition of the Chapter as of the close of the
program year and accomplish the necessary changeover of banking signatory
authorities, delivering to the incoming Chapter Vice President Treasurer all
money, books, records, data, reports, and any other Association property for
which the Chapter Vice President Treasurer is responsible and accountable.
The outgoing Chapter Vice President Treasurer should submit the chapter’s
annual financial report to the NCMA Office to arrive not later than July 20th.
On or before August 10th, the outgoing Chapter Treasurer should submit a
signed copy of the annual independent audit to the Executive Assembly with a
copy to the outgoing National Vice President (South Western Region), at the
Chapter President’s discretion.
As of August 3rd, 2004
ATTACHMENT 1
CHAPTER FINANCIAL POLICY ON
RECORD KEEPING AND REPORTING
PURPOSE: Establish policy and provide guidance to Chapters on minimum
record keeping requirements, oversight and reporting to support good financial
management practices.
SCOPE: This policy applies to all NCMA Chapters and falls under the
responsibility of the Chapter Treasurer
POLICY / GUIDANCE:
The Internal Revenue Service does not specify what types of records must be
maintained by an Association. However, certain minimum records must be
maintained in order to conduct business and to file the Chapter Annual Financial
Report with the NCMA Office.
RECORDS KEEPING:
The following records should be maintained and retained by all NCMA Chapters:
1.
2.
3.
4.
5.
6.
General Ledger (The Chapter checkbook register(s) may suffice)
Cash Receipts Ledger
Cash Disbursements Ledger
Membership List
Registration Lists for Paid Chapter Events
Monthly Financial Reports disclosing:
a.
Beginning Cash Balance
b.
Income
c.
Expense
d.
Ending Cash Balance
e.
Accounts Receivable
f.
Accounts Payable
Note: If more than one cash account is maintained, such as money market
investments, checking and savings, the balance of each account should be
stated.
7.
Special Event Financial Records must include the following, supported
appropriately by registration lists, invoices, etc:
a.
Income (itemized by source)
As of August 3rd, 2004
8.
9.
b.
Expense (itemized by category)
c.
Net Income (or Loss)
Bank Statements
Annual Financial Report (sent to the NCMA Office)
AUDIT:
The financial records of the Chapter shall be audited annually by an independent
auditor or an audit committee as specified in A-05.
REPORTING:
On or before July 20th, following the close of the fiscal year, each chapter is
required to file an Annual Chapter Financial Report for the period July 1st-June
30th. Refer to report form in the NCMA Finance Functional Manual.
MEMBERSHIP REBATES:
Chapter rebate checks and the rebate reports are mailed to the chapter treasurer
twice a year after the end of the second and fourth quarters of the fiscal year.
Checks and reports are sent directly to the Chapter Treasurer.
TAX STANDING:
If the Internal Revenue Service makes a request to audit the financial records of
the chapter, the Vice President Treasurer should provide the following
information:
1. The chapter is a subordinate organization covered under a group ruling issued
to the parent organization.
2. The chapter Federal Identification Number: 005.
3. The NCMA Office federal identification number is #95-6078562.
4. The name and address of the NCMA Office as follows:
National Contract Management Association
8260 Greensboro Drive, Suite 200
McLean, VA 22102
5. Contact person at NCMA:
Director, Finance
As of August 3rd, 2004
After the Chapter has provided the IRS with the basic information, notify the
Director, Finance at the NCMA Office that the Chapter has been contacted by the
Internal Revenue Service for an audit.
The NCMA Office has a letter on file issued by the U.S. Treasury Department,
Internal Revenue Service, stating that the NCMA and its subordinate chapters
are exempt from federal income taxes as an organization as described in section
501(c)(6) of the Internal Revenue Code of 1954.
As of August 3rd, 2004