Training for 4-H Club Treasurers and Adult Leaders - PowerPoint PPT Presentation

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Training for 4-H Club Treasurers and Adult Leaders

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  1. Training for 4-H Club Treasurers and Adult Leaders Author: Halina Pietras Edited: R. Martell & C. Kohler

  2. Family oriented, youth educational program of Penn State Cooperative Extension Young people learn about leadership, communication, decision-making, self-confidence and other things (all that?) Adult or teen leaders work with young club members What is 4-H?

  3. 4-H Pledge I pledge:My Head to clearer thinking,My Heart to greater loyalty,My Hands to larger service, andMy Health to better living,For my club, my community,My country and my world.

  4. Help the youth become better citizens Share skills and talents with the youth Learn about leadership Make friends Kinds of leaders: Organizational Project Activity Teen Leaders

  5. 4-H Club Membership • Anybody 8 – 19 years old can join without regard to ancestry, color, disability or handicap, national origin, race, religious creed, sex, or sexual orientation • To become a member you have to: • enroll in at least one 4-H project • the county extension office must receive the enrollment sheet

  6. 4-H Club Officers • Elected by 4-H membership • Responsibilities of… • President • Vice President • Secretary • Treasurer

  7. Club Treasurer Responsibilities • Pay the bills and keep accurate and up-to-date records of club treasury • Make deposits and write checks • Prepare and present Treasurer’s Report • Prepare records for annual audit • Report to County Extension Office

  8. 4-H Funding Sources • Federal, state and county money • PA 4-H Development Fund • County 4-H Development Fund • Endowment Funds • 4-H Club Accounts • Donations • Fundraising • Needed to maintain and enhance county and state programs

  9. 4-H Club Fundraiser • Must be approved by the county extension office before they are undertaken • Must be developed as educational experiences for club members • Must be for specific educational • programs or activities • Approved fundraisers listed • on VIP Fact sheet #7

  10. Educational Fundraising • Education – primary purpose of fundraising • Through fundraising, 4-H members learn: • Handling and accounting of funds • Planning and carrying out a money raising activity • Sharing with others • Teamwork • Self-reliance

  11. The Pledge is calling you to loyalty… Be loyal to your country, your state, your community and your club and spend public money properly “I Pledge My Heart to Greater Loyalty”

  12. You are in charge of the money You deposit money in the bank You make payments with the club money As Treasurer… • You keep receipts and cancelled checks • You give a Treasurer’s Report at club meetings

  13. Handling the Money • Keep track of the money! • Use money efficiently • You cannot spend club money for personal things • You cannot borrow club money

  14. Accounting for the $$$ • Cash funds and bank accounts • Employer Identification Numbers (EIN) for clubs with bank accounts • If more than $10 of interest earned, the club must give the EIN to its bank • NO personal accounts for 4-H money

  15. Managing the Funds • Develop a budget • Record all transactions to Club’s Record of Financial Transactions. • Each record should include: • Date • Check or deposit number • Brief explanation • Payment or deposit amount • Account balance

  16. Managing the Funds • Get cash – give receipt. • Complete Cash and Check Reports in Records Book • For clubs with bank accounts: • Always pay with a check • Deposit money in a bank often • On a deposit slip always put: • Date • How much cash you are depositing • List of checks and amount on each check

  17. Cash Purchases • Must be approved by the club • On the cash register receipt put the date of purchase, item, its purpose and have the member sign it • Reimburse the club member • Record the transaction • Keep the receipt with your records

  18. Depositing Money • Fill out a deposit slip: • List the currency and coins • List checks • Put the total amount deposited • Record the transaction in the check register and Club Record of Financial Transactions • Treat interest earned as a deposit or income

  19. Paying Bills • Need approval of the club first! • Write a payment voucher with: • The name of the club • Date • To whom you will pay • What is purchased • Specific project • Amount of the bill • Signatures of the Treasurer and President

  20. Put purpose in “memo” line Start writing from the left, especially the amount of money Never sign blank checks If check is lost or stolen, call your bank immediately Treasurer and unrelated adult leader sign all checks Tips about Writing Checks

  21. More Tips • Have sufficient funds in the bank. If not, • Banks charge a fee • Will loose business partners • Keep running totals up to date in your checkbook • Always use ink, except for running balance entries • Do not erase mistakes but void the check • Keep voided checks

  22. Check Register • Record all checks. Include: • Check number • Date • Description: to whom • paid and for what • Amount • Subtract from balance to get new balance • Do the same for deposits except add the amount to the balance • Also, remember to post in your Club Record of Financial Transactions

  23. Bank Statement • Received each month • Always balance check register and Club Record of Financial transactions with the bank statement • Use the space provided on the bank statement • Use the space provided on the check register and Club Record of Financial Transactions to check off each item on the bank statement • If the balances do not agree…

  24. Club Meetings • Plan a budget every year • Approve unpaid bills • Talk about approved bills • Secretary’s Minutes • Club officers should meet regularly

  25. Each month the Treasurer gives a report about Balance at the beginning of the month Money received Payments made Cash on hand – ending balance Reporting at the Meeting

  26. Annual Audit • Auditing committee reviews and verifies the financial records at the end of year or when new Treasurer is elected • Must show agreement between the bank records and club records • Many materials need to be reviewed

  27. No federal income taxes! Contributions to 4-H organizations are deductible by the donors Form 990 - the Annual Information Return Needs to be filed if club gross receipts in a tax year exceed $25,000. File by 15th day of the fifth month following the end of accounting period 4-H and Federal Taxation IRS

  28. 4-H and State Taxation • 4-H clubs must pay the PA Sales and Use taxes on items purchased • Clubs have to collect and pay PA Sales and Use tax on some of the items they sell • The State issues a temporary sales tax license covering those sales • For more information or questions about PA Sales and Use Tax, contact your county 4-H coordinator

  29. Questions? Comments? Concerns? Penn State is committed to affirmative action, equal opportunity, and the diversity of its workforce.