Ingham County 4-H
Annual Summary Financial Report and Audit Form
September 1, 2014-August 31, 2015
Every club must complete an annual summary form. Clubs may choose to complete this form or download the EXCEL spreadsheet from the
website at http://ce.ingham.org/FinancialAccountabilty.aspx Attach copies of bank statements and club meeting minutes from September
2014-August 2015; if your club’s statements are on file at the 4-H office only attach the statement matching ending balance.
Club Name: __________________________________________________
Account balance at beginning of year (must match ending balance previous year):
EIN: ___________________
$_____________
Taxable Sales Revenue (products sold-cookbooks, prepared food, etc; must pay sales tax if sales exceed $5000)
Products Sold
Date of Fundraiser
Sales Revenue
Total Taxable Revenue
plus $______________
Nontaxable Revenue (Grants, dues, fees, etc)
Purpose
Date Received
Amount
Total Nontaxable Revenue
plus $ _______________
Expenditures
Purpose
Date
Check
number
Total Expenditures
Account balance at end of year
Add back checks that have not shown up on bank statement
Subtract deposits that have not shown up on bank statement
Adjusted balance (must agree with bank statement)
Amount
minus $________________
equals $________________
plus $________________
minus $________________
equals $________________
Prepared by: ____________________________________________________________ Date: ____________
4-H Club Audit Review
All 4-H groups must review their financial records once a year (before submitting their Annual Summary Financial
Report to the county MSU Extension office). The person who conducts the financial record review cannot be the
treasurer, an account signatory, or a parent or guardian of the treasurer or of an account signatory.
Name of club Treasurer: ___________________________________________________________________
Additional Account signatories: _____________________________________________________________
Please answer the following questions regarding this audit:
YES
NO
YES
NO
YES
NO
YES
NO
YES
NO
YES
NO
YES
NO
1. When you added up the receipts from the receipt book did the amounts match the bank deposits?
If no, were you able to determine reasons for differences? Please explain:
____________________________________________________________________________
2. Were there events that took in cash?
a. If yes, is there evidence of a witnessed cash count by individuals other than the person who
made the deposit?
b. Do the witnessed cash counts equal the amounts of the deposits?
c. Do the cash deposits show up on the bank statements?
3. Do the bank deposit amounts match the amounts that show up on the bank statements for each
month? If no, were you able to determine the reasons for the differences? Please explain:
_____________________________________________________________________________
4. Was the bank account reconciled monthly?
a. Can you compare the reconciled bank account balances to figures in the check register?
5. Were there any cash withdrawals from the bank account?
a. If yes, is there documentation as to why this is legitimate?
b. Are there any other transactions in the bank account that need further explanation? Please
explain: ____________________________________________________________________
6. Were all expenditures approved either through an approved budget or a vote?
a. Were there expenditures that seemed out of place? If yes, please explain:
_________________________________________________________________________
7. Review the annual financial report.
a. Was Michigan Sales Tax paid if the group sold more than $5000 worth of tangible personal
property?
b. Does the annual report reflect all of the fund raising activities that happened during the year?
c. Does it reflect all of the expenditure for the year?
d. Does it reconcile easily to the closing balance of the last bank statement for the year?
The above items are a test of the group’s financial accountability. If the group was not able to pass one or more the
tests, please list recommendations for correcting the situation for the future here.
Financial Auditor: _____________________________________________ Date: ____________________
Approved by MSU Extension: ____________________________________ Date: ____________________