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What am I supposed to do and when do I do it? PowerPoint PPT Presentation


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Little League Treasurer. What am I supposed to do and when do I do it?. You Should Have. A Copy of the Latest “Little League Operating Manual” (the White Book). You should be FAMILIAR

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What am I supposed to do and when do I do it?

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Little League Treasurer

What am I supposed to do and when do I do it?


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You Should Have

A Copy of the Latest

“Little League Operating Manual” (the White Book)

You should be FAMILIAR

with the “Rules and Regulations of Little League” – especially the portion of the Operating Manual on Accounting Procedures / Finances.


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What’s Next?

If you don’t have a copy of

“A Year in the Life of Hometown Little League”

GET ONE

A copy can be downloaded/printed from

www.littleleague.org

If you’ve got a copy,

READ IT

Keep it as a Reference


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What Does the LL Say my Job is?

Treasurer

The treasurer signs checks co-signed by another officer or director (or as directed by the local league’s constitution), dispenses league funds as approved by the board of directors, reports on the status of league funds, keeps local league books and financial records, prepares budgets, and assumes the responsibility for all local league finances.


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What Do IREALY DO?

The Treasurer:

Maintains all League Financial Records

Is Responsible for the League Assets (ALL Assets, not just the bank account)

Prepares the annual BUDGET (final approval by the BOD)

Makes MONTHLY Financial Reports to the Board (should provide a copy of the latest bank statement with each report)


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What Do IREALY DO?

The Treasurer:

Deposits ALL Funds received into the League Bank Account

Pays all League Bills by Check(Cash payments should not be made – all bills should be paid by check and should only be paid when a proper bill/receipt is presented)

Co-Signs all League Checks(checks should have two BOD signatures – preferably not a husband and wife, to eliminate any rumors of impropriety or conflict of interest)


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What Do IREALY DO?

The Treasurer:

Maintains records (receipts) of ALL Financial Transactions

Assures all Concession Stand Income is properly counted (preferably by two people) and deposited into the League Account

(Concession Stand Income (cash) should be collected and counted nightly – large amounts of cash should not be left in the cash box/ concession stand)

Assures all Fundraising monies are properly counted (preferably by two people) and deposited into the League Account


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What Do IREALY DO?

The Treasurer:

Prepares the year end Financial Report and provides for an independent Audit of the Report

(the Audit may be done by several BOD Members (not the Treasurer) but it’s recommended that an independent Auditor/CPA be used – you may have one as a Parent!!!)

Provides a copy of the final audited report to the DA

Prepares/Files the 501(c)(3) Tax Report/Paperwork


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Your Job –in 25 Words or Less

Make sure that all league Financial Transactions are PROPERLY CONDUCTED and RECORDED

and that periodic Financial Reports are provided to the BOD


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ANYTHINGELSE?

You Should:

Attend ALL your league BOD Meetings

Be the FOCAL POINT

for INFORMATION

about the Financial Status of your League


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Got a Problem

IF YOU NEED HELP,

ASK FOR IT

The Regional and

District Staffs

are comprised of individuals who have EXTENSIVE EXPERIENCE in Little League

They are

READY TO HELP


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