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Treasurer

  • Is the finance officer of the Association and shall receive all Association monies and keep the books of the Association
  • Pays the bills of the Association within thirty (30) days of the authorization of the Executive Board
  • Arranges for the billing and collection of dues and registration fees for meetings of the Association
  • Arranges with the Membership Committee chairperson for the issuing of membership confirmation to current members and maintenance of the official membership roster
  • Provides the Association an account and statement of all transactions at each meeting of the Association and at other times as needed by the Association
  • May be bonded at the expense of the Association
  • Allows any member of the Association to examine records upon request
  • Prepares and submits the appropriate state and federal records, as required by applicable laws (Article VII)
  • If a bookkeeper is engaged, supervises the bookkeeper for the Association in any of the above duties
  • The Treasurer-Elect shall serve one (1) year in that position and a second (2) year as Treasurer.
  • The Treasurer is responsible for:
    • Tax returns (if filed)
    • Budget performance reports
    • Statement of annual audit or financial review
    • The Treasurer is responsible for complying with state and federal regulations that pertain to the financial status of the Association. These responsibilities include, but are not limited to:
      • Articles of Incorporation Each year based on FASFAA's incorporation date of February 1, 1984 a reaffirmation of the corporate status must be forwarded to the Florida Secretary of State to update the names of the Board of Directors, the corporate address, Registered Agent (per state of Florida statute), etc.
      • Federal Income Tax Status On October 29, 1984 FASFAA, Inc. was granted exemption from paying federal income tax under Section 501 (c) (3) of the Internal Revenue Code, on a temporary basis. As of October 21, 1986, FASFAA was granted 501 (c) (3) status permanently. The federal employee identification number is 59-2437964.
      •  Return of Organization Exempt from Income Tax (IRS Form 990) Each year the Treasurer will see that the IRS Form 990 is filed. The form is due on the 15th day of the fifth month following the close of the association's fiscal year. (As the Fiscal Year ends June 30, the due date is November 15.). The Form 990 is required to be published on the association’s web page.
      • Florida Sales Tax Status On September 29, 1987 FASFAA, Inc. was granted exemption from paying Florida state sales tax. The tax exempt number is 07 03078 00 16. The Treasurer is not required to file a sales tax report to the Florida Department of Revenue.
      • Review of Financial Records the Treasurer must ensure that the financial records of the Association are reviewed each year.
      • Miscellaneous Income (Form 1099) The Treasurer maintains information for any speakers who are paid honoraria and for the bookkeeper, if engaged. The information must be provided to the accountant so that a Form 1099 can be prepared for each individual.
      • Music Copyright Compliance Agreements under the United States Copyright Law, the public performance of copyrighted music requires permission from the copyright owner or its licensing agent. All associations that use either live or recorded music at conferences or other meetings are affected by this law. The Treasurer is responsible for completing the appropriate forms, if required, after each FASFAA conference and workshop.
      • The Treasurer will become thoroughly familiar with the FASFAA Articles of Incorporation, Bylaws, and policies and procedures of FASFAA
      • The Treasurer is required to submit copies of the current Budget Performance Report to the General Membership during the Business Meetings held at the Annual Conference. The Report can either be distributed at the Annual Business Meeting or as part of the President’s Annual Report to membership at the end of the year.
      • The fiscal records of the Association are maintained by the Treasurer (and bookkeeper, if engaged).
      • The Treasurer (and bookkeeper, if engaged) is responsible for determining the allocation of expenses to the appropriate budget lines.
      • The new Treasurer should be bonded. The President may be bonded. The amount of coverage should be 20% of the projected operating budget to protect against serious harm. The company which provides bonding for the Treasurer’s own educational or lending institution may be one source for obtaining coverage.
        • It may not always be possible for the Treasurer or President to obtain bonding.
          • In any event, at the beginning of their terms, and as a condition for serving FASFAA in those capacities, the Treasurer and President shall sign the FASFAA Statement of Compliance.
            • This statement shall read: I hereby certify my agreement to conduct the business of the Office of Treasurer/President in compliance with existing FASFAA policies and procedures. I understand that any financial activities associated with this office are solely restricted to the conduct of official FASFAA business, and in no way shall funds from the FASFAA treasury be used for personal or other purposes.
            • A statement shall be signed by the Treasurer and President and filed with the Secretary no later than July 31. Any officer or member with the authority to sign FASFAA checks is also required to sign a Statement of Compliance.
            • Expense reimbursement forms are designed, updated and maintained by the Treasurer.
            • The Treasurer has certain responsibilities with each conference and training workshop
              • The Treasurer coordinates with the registration chair the handling of receipts and provides for appropriate payment.
              • The Treasurer will follow refund provisions outlined in 14e of the Policy & Procedures.
              • A spreadsheet will be set up to accept the various categories of funds; registration fees, membership, late fees (if applicable), and extra meal tickets.
              • If no funds are received with a registration submission, or if funds are short, the Treasurer will bill the registrant. Subsequent bills should not be more than 30 days apart
              • 7 days prior to the conference the Treasurer will coordinate with the registration chair to provide a list of late registrants to ensure a list of outstanding financial obligations.
              • At the conference the Treasurer or designee may assist with an update of the count and accuracy of the registration submissions.
              • At the close of the conference, the hotel should provide the bill to the conference chairperson and site selection coordinator who can review and accept as accurate. The Treasurer will pay the final bill upon approval of the site selection coordinator and conference chairperson.
              • The sponsorship chair needs to provide the Treasurer with the names of all sponsors, what and how much is being sponsored, who is to be billed by FASFAA and who will deal directly with the hotel, as specified in the Sponsorship Policy
              • . After the conference the Treasurer reconciles the registration submissions and payments and updates the spreadsheet. Bills are sent to registrants with unpaid balances.
              • 14. If music has been performed, the Treasurer will complete the appropriate forms and pay any required music copyright fees based on the information provided on the Music Performance Report. The Music Performance Report must be submitted to the Treasurer by the Conference Chair or Vice President (or their designee) indicating whether or not live or recorded music was performed no later than 30 days after the conference or workshop.
              • Upon request the Treasurer will provide receipts for all donations.
              • The Treasurer (or Bookkeeper, if engaged) is responsible for making and providing backup files of the accounts to the President on a monthly basis (generally after the bank statement is reconciled). The Treasurer is also responsible for maintaining a separate backup copy on the Association’s own hardware, if applicable, for easy retrieval.
              • The Treasurer is responsible for sending copies of the Certificates of Deposit to the Secretary upon receipt.