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James A. Lynton, CGMP National Treasurer

James A. Lynton, CGMP National Treasurer. 2013 Joint Leadership Meeting – Reno, NV. Annual Budget. Should have been sent to HQ by July 31, 2013 Use The Official Treasurers Template -Includes Budget Page - Chart of Accounts - Individual monthly statements

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James A. Lynton, CGMP National Treasurer

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  1. James A. Lynton, CGMPNational Treasurer 2013 Joint Leadership Meeting – Reno, NV

  2. Annual Budget • Should have been sent to HQ by July 31, 2013 • Use The Official Treasurers Template -Includes Budget Page - Chart of Accounts - Individual monthly statements • Major Changes for 2013/2014 • Addressing Shortfalls not expected

  3. Reporting Requirements – Fiscal Year • Should have been sent to HQ by August 15th 2013: • Completed treasurers template with a year of transactions • Must include all original records, i.e., deposit slips, paid invoices, bank statements and ship to SGMP HQ • SGMP HQ will house all chapter records for 7 years • The Chapters IRS 990 filing will be done with the information provided in the Fiscal Year End. This is the reason for the Sept Deadline as we have to file year end taxes. • HQ will audit chapter records each year

  4. Reporting Requirements - Monthly • By the 10th of each month send to HQ • Copy of Bank statement from previous month • Corresponding month of income and expenses filled out in the treasurers template (budget) • Ensure deposit of monthly revenue share checks • Review the Treasurer’s Template in your Board Meeting

  5. Policies & Procedures • Chapter financial policies can be found in SGMP’s P&P pages 54-78 • National financial policies can be found in SGMP’s P&P pages 154-182 • It is important to read these periodically and also review with your chapter board • Remember to code and expense monthly, bank, credit card and merchant services fees. These add up and will keep your accounting out of balance if not reconciled. • Use the Online Chapter Toolkit - www.sgmp.org/chapterboard/

  6. Helpful Tips • Top 10 CF Policies: 7 – Banking Signature Card, 9 – Debit Cards, 10 – Transition, 11 – Treasurer Responsibilities, 13 – Receipt Requirements, 14 – Deposit Requirements, 15 – Cash Transactions, 16 – Check Writing Requirements, 21 – Savings, CDs, 24 – Gift Cards Do not use Miscellaneous as an escape. Really try to find a place to code it. If you have to use Miscellaneous more than once for the same income or expense, let us know so we can add the line item – others may be doing the same.

  7. Questions?jlynton@rimhospitality.com / 916-400-1799

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