EDMOND NORTH VOLLEYBALL BOOSTER CLUB BYLAWS

Transcription

1 EDMOND NORTH VOLLEYBALL BOOSTER CLUB BYLAWS (As amended on April 14 th, 2015) ARTICLE I NAME Section 1.1- The name of the Organization shall be Edmond North Volleyball Booster Club (hereinafter the Club ). The Organization shall support the volleyball teams of Edmond North High School in Edmond, Oklahoma. ARTICLE II BUSINESS FORM Section 2.1- The Club exists as an unincorporated association of its members. Its Articles of Organization comprise these Bylaws, as from time to time amended. ARTICLE III PURPOSE Section 3.1- The Club is organized exclusively for the charitable and educational purposes of supporting the volleyball teams of Edmond North High School in Edmond, Oklahoma, and to engage in any and all lawful activities that may be incidental or reasonably necessary to these purposes under the laws of the State of Oklahoma. In fulfilling its objectives, the Club shall not directly or indirectly carry on any activities not permitted to be carried on by a corporation exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. Section 3.2- The specific purposes of the Club include but are not limited to the following: a. To promote an enhanced relationship between the coaches and parents for a better understanding of the sport for the benefit of the athletes. b. To provide voluntary assistance to the coaching staff and the teams for the purposes of promoting team spirit and sportsmanship. c. To provide supplementary financial assistance as allowed by the laws of Oklahoma to the Edmond North High School volleyball program for the benefit of all participating student athletes. 1

2 ARTICLE IV BASIC POLICIES Section 4.1- The Club shall be non-commercial, non-sectarian and non-partisan. Section 4.2- To enable the Club to carry out its purposes, annual dues shall be collected from the Club membership. Club members also are highly encouraged to be dues-paying members of the Edmond North Big Booster Club, which provides support to all athletic teams at Edmond North High School. Section 4.3- The name of the Club or the names of any members in their official capacities shall not be used in any connection with a commercial concern or with any partisan interest or for any purpose not appropriately related to the promotion of the purposes of the Club. Section4.4- The Club may cooperate with other organizations and agencies concerned with the welfare of the student athletes, but a person representing the Club on such matters shall make no commitments that bind the Club. Section 4.5- The Club will be independent of all other city, state and national organizations which are school and home oriented; provided, however, that for purposes of federal tax exemption, the Club may associate itself with a 501(c)(3) exempt entity with authorization from the Internal Revenue Service under a group letter ruling to grant its associated organizations federal tax exempt status. ARTICLE V MEMBERSHIP Section 5.1- The membership of the Club shall consist of all parents, guardians and other persons in a parental relationship with a student athlete who is currently attending Edmond North High School and is a member or manager of one of the school s volleyball teams. The Principal and Athletic Director of Edmond North High School shall be non-voting, advisory members of the Club. Section 5.2- Each member of the Club shall have one (1) vote, not to exceed two (2) votes per household. Section 5.3- Votes shall be taken by voice, roll call, or ballot at the discretion of the presiding officer. Section 5.4- The members shall have the right and responsibility to attend meetings and events sponsored by the Club, serve on committees and be nominated and elected to office. Voting members shall have the right to vote for the officers, review and approve the annual budget, and approve amendments to these Bylaws. ARTICLE VI EXECUTIVE BOARD Section 6.1- The Executive Board shall consist of the elected officers of the Club and any additional officers as maybe elected or appointed by the Executive Board from time to time. 2

3 Section 6.2- The affairs, activities and operation of the organization shall be managed by the Executive Board. Section 6.3- A majority of the Executive Board members shall constitute a quorum. The acts of a majority of the members of the Executive Board at which a quorum is present shall be binding on the Club. Section 6.4- The duties of the Executive Board shall be: a. To transact necessary business in the intervals between Club meetings and such other business as may be referred to it by the Club or these Bylaws. b. To create standing and special committees, appoint committee chairmen, and approve plans of work. c. To present a report at the regular meetings of the Club. d. Prepare and submit a budget to the membership for approval. e. In general, conduct the business and activities of the Club. Section 6.5- Decisions of the Executive Board may be made at any regular or special meeting, or through electronic communications when time is of the essence and necessary business of the Club must be undertaken. Section 6.6- Special meetings of the Executive Board may be called by the President or by a majority of the members of the Executive Board. ARTICLE VII OFFICERS Section 7.1- The elected officers of this Club shall be the President, Vice President, Secretary and Treasurer and any additional officers as may be elected or appointed by the Executive Board from time to time. Section 7.2- The current President, upon approval of the Executive Board, shall present a slate of officer nominees to the membership in October. Additional nominees may be solicited from the floor on the date of the election. Only those who have consented to serve shall be eligible for nomination, either by the nominating committee or from the floor. The officers of the Club shall be elected at the Club s annual meeting in November by a majority vote of the members in attendance. Section 7.3- The officers of the Club shall assume their official duties on December 1 of each year. All officers shall serve for a term of one year or until qualification and selection of their successors. Section 7.4- No person shall serve as an officer of the Club unless he/she has a child enrolled in Edmond North High School who is a member or manager of an Edmond North High School volleyball team. Section 7.5- No individual shall serve for more than three consecutive terms in the same office. 3

4 Section 7.6- An officer may be disqualified for malfeasance, misfeasance or nonfeasance in office. Disqualification shall be had by a majority vote of those present at any meeting held on seven days written notice to the membership (including, without limitation, the officer sought to be disqualified) that such disqualification shall be voted upon: provided however, that such officer, if in attendance at such meeting, shall be given an opportunity to be heard, prior to such vote, as to why he or she should not be disqualified. Section 7.7- A vacancy occurring in an office shall be filled for the unexpired term by a person elected by a majority vote of the remaining members of the Executive Board; provided, however, a vacancy in the office of President shall be filled by the Vice President for the unexpired term. ARTICLE VIII OFFICERS DUTIES Section 8.1- The President shall preside at all meetings of the Club; prepare the Executive Board agendas; sign all written contracts and obligations of the Club; perform such other duties as may be prescribed or assigned by the Executive Board; coordinate the work of the Executive Board; and coordinate the work of the Board and Committees of the Club in order that the purposes of the Club may be promoted; have a signature on file with the bank; and be available to co-sign checks. Section 8.2- The Vice President shall actively assist the President; perform the duties of the President at any regular meetings in the absence or disability of the President; update and maintain all committee chair binders, have a signature on file at the bank; and be available to co-sign checks. Section 8.3- The Secretary shall prepare the agenda of the Club s meetings; record the minutes of all meetings of the Club and the Executive Board; present copies of the Executive Board meeting minutes at the next Executive Board meeting; present copies of the Club meeting s minutes at the next Club Meeting; prepare any correspondence pertaining to Club activities; be responsible for being a custodian of the bylaws; have a signature on file at the bank; be available to co-sign checks; and perform other duties as may be delegated. Section 8.4- The Treasurer shall be responsible for all the funds of the Club; keep a full and accurate account of receipts, expenditure, and assets; ensure all transactions and procedures are made in accordance with the Financial Policies and Procedures of the organization as outlined in the bylaws; and ensure all disbursements are made in accordance with the approved budget or as authorized by the Club or the Executive Board. The Treasurer shall present the following financial statements to every executive board member each month: Cash Flow Statement, Balance Sheet, Income Statement- Actual and Projections, Budget to Actual, Statement of Activity, VB Booster Budget to Actual, Fundraising Budget to Actual, and monthly Bank Reconciliation. In addition, the Treasurer shall present a monthly financial report and the following statements at every meeting of the Club: Cash Flow Statement, Income Statement- Actual and Projects and Statement of Activity. The Treasurer shall be responsible for the maintenance of such books of accounts and records, and prepare financial statements for compilation and review on a monthly and 4

5 annual basis. The Treasurer shall assure that the Club meets all tax and regulatory obligations, including all federal and state tax reports and other filings, and may consult with accounting or law professionals as necessary. The Treasurer shall prepare, or oversee the preparation of, the annual sanctioning report for the Edmond Public Schools district office, which is due on by July 1. The current Treasurer shall train the incoming Treasurer and assist in preparing a preliminary projection for the next year. The Treasurer shall be responsible for storing copies of minutes, bylaws, financial records and supporting documents, annual financial review, tax forms, sanctioning packet, and any other important relevant documentation with the schools annual records. Section 8.5- The Immediate Past President shall serve in an advisory role to the Executive Board, and perform such other duties as may be assigned by the President or Executive Board. ARTICLE IX MEETINGS Section 9.1- Regular meetings of the Club shall be held as designated by the Club or the Executive Board. The time and place of all meetings shall be established by the Executive Board and made known to the general membership. Section 9.2- The annual meeting of the Club for the purpose of electing officers shall be in November. Section 9.3- Special meetings may be called by the Executive Board. Section 9.4- A quorum at general and annual meetings of the Club shall consist of a majority of the members of the Club present and voting. ARTICLE X STANDING AND SPECIAL COMMITTEES Section The Executive Board may create such standing committees, as it deems necessary to promote the purposes and carry on the work of the Club. The term of chairman of each such committee shall be for one (1) year or until qualification and election of her/his successor or the committee is no longer necessary. Section The chairman of each standing committee shall present an end-of-year report at the annual meeting. Each chairman shall also maintain/update a committee s binder that contains the yearend report, notes from committee meetings, samples of committee projects, recommendations and other information. The binders are the property of the Club. At the end of the term, all committee binders must be turned in to the standing Vice- President within one month after their duties have been completed. No committee work shall be undertaken without the majority consent of the Executive Board. Section The power to form special committees and appoint their members rests with the Executive Board unless the Bylaws make other provisions. Section The President shall be an ex-officio member of all committees. 5

6 ARTICLE XI FISCAL YEAR Section 11.1 The Club s fiscal year shall begin on June 1 st and end on the following May 31 st. ARTICLE XII MISCELLANEOUS Section As a method of checks and balances, all disbursements from the Club s accounts shall be signed by two of the officers of the Club. At no time shall the Treasurer be an authorized signer. Section An amount to be determined annually by the Executive Board shall be carried forward to the next year to allow for early operating expenses. Funds may be placed in a Reserve Carry-Over Fund. Section All outstanding debts will be cleared by the end of the fiscal year so that the expense will be shown in the year incurred. Section A proposed budget shall be prepared by the Treasurer. This proposed budget shall be presented to the Executive Board for approval prior to the Club s first meeting of the year. The budget shall then be presented to the Club for its approval. After approval of the budget, financial considerations over and above the designated budget must be approved by a majority vote of the members present at a regular meeting of the Club, or if time if of the essence, then by a majority vote of the Executive Board as long as the amount is not over $300. Section All contracts, which bind the Club, shall be approved by a vote of the Executive Board. Section The Club shall adopt appropriate financial controls to ensure the integrity of its funds as outlined in Addendum A Financial Policies and Procedures. An independent person without check signing authority shall perform a financial review of the Club s financial statements and supporting schedules as of the end of the year, to be completed prior to June 30 th. ARITCLE XIII PARLIAMENT AUTHORITY Section 13.1 Robert s Rules of Order Revised shall govern the Club in all cases in which they are applicable except when they are in conflict with these Bylaws. 6

7 ARTICLES XIV AMENDMENTS Section 14.1 These Bylaws may be amended by, first, the prior approval of a majority of the Executive Board, and then by a majority vote of the members present at a regular meeting of the Club. ARTICLES XV DISSOLUTION Section 15.1 In the event of the dissolution of the Club, the assets of the Club shall be expended in full by the Executive Board in a way that is beneficial to the athletes and does not directly benefit any member of the Executive Board. Executive Board April 14 th, 2015 Kelly Wright, President Anne Decker, Vice-President Carmen Ryan, Treasurer Lisa Fulcher, Secretary Alex Rogers, Member at Large 7

8 EDMOND NORTH VOLLEYBALL BOOSTER CLUB ADDENDUM A FINANCIAL POLICIES AND PROCEDURES CASH RECEIPTS CASH BOX REQUEST - Below is a list of policies and procedures to safeguard the cash for those events that require a cash box. The cash box should contain the following: duplicate receipt book, endorsement stamp, calculator, deposit notice, summary of the Financial Policies and Procedures. Ø The Treasurer (or Executive Board Member) must be notified at least 3 days prior to the event. Ø An authorized signer is responsible for obtaining the cash and bank withdrawal receipt from the bank. Ø A Cash Box Request form must be completed by the event volunteer. If the person requesting the cash box is an authorized signer, then someone independent must also sign and approve the Cash Box Request formthe event volunteer is responsible for counting the cash received. If the amount of cash received agrees to the amount of cash per the bank withdrawal form, then they must sign the Cash Box Request form in the verified by event volunteer box. Ø Upon receiving checks, the event volunteer must review the check for the following: contact information such as phone number, name, and address, proper signature, proper amount, and made out to ENVB Booster Club. Ø The checks received must be immediately endorsed with an ENVB Booster Endorsement stamp that has our account number. Ø Temporary checks are not allowed for payment for goods or services. All checks must be pre-numbered and have name of person issuing the check. Ø For all cash/checks received, a duplicate copy receipt must be completely filled out with the following information: date, name, amount, description (t-shirt, EOY banquet, SPUD fundraiser, etc.), and signature of the person taking the money. One copy must be given to the individual and one kept in the receipt book. The treasurer should review the receipt book to ensure all money collected is properly reflected on the Deposit Notice. Ø The Treasurer (or Executive Board Member) must sign the Cash Box Request form in the approved by box. Ø An executive board member is responsible for attaching the bank withdrawal form that is received from the bank to the Cash Box Request form. The Treasurer must file both documents with the monthly bank statements in chronological order. Ø At no time is the same person allowed to obtain cash from the bank, complete the cash box request, authorize the transaction and record the transaction. 8

9 DEPOSIT NOTICE A Deposit Notice should be completed for every cash deposit from booster events that require a cash box or event that requires receipt of cash (fundraising events). Ø Cash must be counted by committee chair (or event volunteer) at the end of each event. Ø The event volunteer is required to complete a Deposit Notice with relevant information (total cash received, list checks with amounts, date, source of cash, etc.) and sign. Ø If the event volunteer or booster member does not have a Deposit Notice available, then the event volunteer or booster member must provide the executive board member a signed note or paper that has the following information: date, their name, amount of funds, category, and signature. This will serve as the Deposit Notice. Ø Someone other than event volunteer must also count the cash and sign the Deposit Notice. Funds must be deposited in the bank as soon as possible, at least within 72 hours. This person must attach the bank deposit slip received from the bank to the Deposit Notice. Ensure the amounts agree. CASH DISBURSEMENTS DISBURSEMENTS The Executive Board creates an annual budget which is approved by the by the members no later than June. Each Executive Board member and Committee Chair must operate within the confines of the approved budget. Ø The President, Vice-President, and Secretary should be authorized signers for the booster. At no time shall the Treasurer be allowed to be an authorized signer. Ø Individuals requesting reimbursement must submit a completed and signed Reimbursement Request or Check Request to an authorized signer. Receipts must be attached to support each amount. Ø Reimbursement Requests and other invoices should be checked for mathematical accuracy and reasonableness before approval. The executive board member must sign the Reimbursement Request or Check Request to show proof that these steps have been performed and the disbursement is proper and has been approved. Ø Upon receiving the forms, the Treasurer should review each document along with the supporting documentation to ensure that the disbursement is proper, has been approved and the transaction is mathematically accurate. The following information should be noted at the bottom of the Reimbursement Request: account category, check number, date of reimbursement. File document in chronological order. Ø All checks require two signatures. All individual purchases over $300 require preapproval from a majority of the Executive Board (even if the purchase is within the committee budget). This approval must be documented in one of the following ways: signature on the Reimbursement Request, referenced in minutes, or preapproved in the budget. 9

10 Ø All checks issued to an authorized signer, regardless of the amount, must be signed by a different Executive Board authorized signer. In addition, the approving authorized signer is required to review the Reimbursement Request and respective receipt/invoice to ensure valid expense Ø The Treasurer is responsible for providing the Executive Board with a monthly Budget to Actual Report. All significant overages need to be investigated. Ø Expenditures that will exceed the total budget within each category must be preapproved by the majority of the Executive Board prior to the expenditure. Ø All disbursements must be made by pre-numbered checks. Ø Checks must never be payable to cash. Ø All receipts/invoices must be marked PAID with the date, check number, and amount of the check to avoid duplicate payment. (Consider purchasing a PAID stamp.) Ø Unpaid invoices and receipts should be maintained in an unpaid invoice file. Ø If advance payments are made to committee chairs, the disbursement must be recorded as a receivable and controlled in a manner which assures that they will be offset against invoices or expense vouchers. Ø At no time is it allowed to sign a blank check. All checks must be made to the third party vendor (if for services/goods) or person requesting refund (if invoice and Reimbursement Request is provided). 10

11 BOOKKEEPING / FINANCIALS FINANCIAL STATEMENTS The financial statements are accounted for using CASH BASIS of accounting. Treasurer should account for the monthly financial and bank statements during the fiscal year, June 1 st May 31 st. At the end of the fiscal year, annual financial statements and reports should be created and packaged with relevant documents (receipts, invoices, minutes of the booster meetings, budgets, etc.) and presented to the Executive Board for final review. These documents will be provided to someone independent of the Treasurer for the annual review. The financial statements should be kept for a period of 7 years. Monthly financial statements should be created using the gross method, not net. (Income accounts should only reflect cash receipts. Expense accounts should only reflect cash disbursements. For internal control purposes and to ensure proper accounting of funds, at no time should cash disbursements be reflected in an income account.) Funds committed for future purchases should be documented in the minutes and reflected in the budget (and/or restricted cash account). Once the funds are expended, the transaction should be accounted for in the income statement at that time. Statements should be presented to the Executive Board prior to the meetings so that each board member has the ability to review a complete set of financial statements. Statements should be filed in chronological order. Annual financial statement should be created at the end of the fiscal year, May 31 st. The following monthly reports should be created and filed in chronological order: Ø Cash Flow Statement Rolls forward Beginning Cash Balance at the beginning of the year to the Ending Cash Balance. Fundraising income should be shown gross, with fundraising expenses shown to obtain net income for each fundraiser. Other collections and expenses should be reflected gross, but separate from fundraising. Ø Treasurer Report Shows the following balances by month and YTD: Total Collections per Deposit Register, Total Disbursements per Check Register, Beginning Fund Balance per General Ledger, Ending Fund Balance, and Reserve Fund for any restricted or reserved cash. Ø Income Statement / Actual and Projections Reflects Gross Income and Gross Expenses for each category by: Year to Date Actual, Projected Cash Inflow/Outflow from date of report to EOY, and Year to Date Actual plus Projected Cash Flow by Revenue and Expenses. Ø Balance Sheet Reflects assets, liabilities and equity of the organization. Ø Bank reconciliation The Balance per the Bank Statement per the reconciliation should agree to the bank statement without exception. The Balance per the Books per the reconciliation should agree to the books without exception. This report must be performed each month in a timely manner and approved by the board EVERY MONTH without exception. Ø Check Register - List of all disbursements of the organization. Each disbursement should detail date of check, check number, payee, and amount of check and description of expense account. The total per the Check Register should agree to 11

12 the Cash Flow Statement, Treasurer Report, Income Statement / Actual and Projections and Statement of Activity. Ø Deposit Register Lists all of the deposits by month. Each deposit should have date of deposit, activity name, description/comments, deposit amount, and month it is reflected in the bank statement. Ø Statement of Activity Should reflect all disbursements and deposits by activity. Totals should agree to other financial statements. Ø Budget To Actual Report - Should be created monthly and at the end of the fiscal year. Treasurer to provide at each Executive Board Meeting and Booster Meeting. All significant overages need to be investigated. The annual Budget to Actual Report is an important tool in creating the fiscal budget for the upcoming year. Due to the nature of our organization, reflect activities that fund themselves separately. Ø Fundraising Budget to Actual List of all fundraisers from the season from (December 1 st through November 30 th ) with actual to budget comparison. Ø Inventory of Assets -Document type, cost, date, and warranty information of all significant purchases. All assets are expensed in the year purchased. 12

13 TREASURER DOCUMENTS NAME OF DOCUMENT DESCRIPTION CONTROLS Cash Box Request Deposit Notice Completed for all functions when a cash box is needed. Attach Bank Withdrawal Receipt to this document and file with monthly records. Completed for all Deposits (cash or checks). Attach Deposit Slip received from the bank to this document and file with monthly records. Authorized signer will provide cash box to an authorized volunteer. The event volunteer must verify cash in box before event by agreeing the amount per withdrawal receipt from bank to amount of cash on hand. After the event, an authorized volunteer should count the remaining cash, record it on a Deposit Notice form, sign form, and turn form, cash box, and cash/checks over to the executive board member to be deposited. Authorized volunteer verifies the amount per the Deposit Notice by counting the cash and agreeing the amount of cash to the amount per the Deposit Notice. Authorized volunteer must sign this document. Treasurer and/or executive board member must sign also. Check Request Reimbursement Request Completed for all checks File in chronological order. All checks require two signatures. All disbursements over $300 should be pre-approved by the majority of the Executive Board prior to the expenditure. Completed for all expense reimbursements Document account category, check #, and date at bottom and file in chronological order. Treasurer (or authorized signer) deposits the funds in the bank as soon as possible, at least within 72 hours. Treasurer attaches the Deposit Slip received from the bank to the Deposit Notice. Agree amounts without exception. Submit completed form to authorized signer 7 days prior to expenditure. Treasurer must ensure the amount is provided for in the approved budget or that the Executive Board has approved it. All expenses over budget must be approved by Executive Board and documented in Executive Board minutes. Attach quote, invoice or purchase order to the check request. Person requesting reimbursement must present Reimbursement Request completed and signed to executive board member. Receipt(s) totaling the amount of the reimbursement must be attached. Treasurer to verify mechanical accuracy of invoice and/or sum of receipts. Form must be approved and signed by Treasurer. Donation Receipt Completed by member Signed by member and provided to donor for Insufficient Funds Letter Completed when deemed necessary. tax purposes. Completed by Treasurer. Report amount of insufficient funds to Executive Board monthly. 13

14 EDMOND NORTH VOLLEYBALL BOOSTER CLUB ADDENDUM B FINANCIAL REVIEW PROGRAM The steps that are to be performed during the financial review must include the following procedures: CASH BOX REQUEST: Ensure that the following procedures were performed for all events that required a cash box: Event Volunteer signs cash Box Request Form. (To ensure that the amount of cash received by the event volunteer is the amount of cash that was withdrawn from the bank. Policy: The authorized signer withdrawals funds from the bank and provides the event volunteer with cash, cash withdrawal receipt from bank, and Cash Box Request Form. The event volunteer counts the cash, agrees the amount of cash to the withdrawal form and amount per the Cash Box Request Form. The event volunteer then signs the Cash Box Request to document that these procedures were done.) Amount per bank withdrawal form from bank agrees to the amount per the Cash Box Request Form. Ensure event volunteer completed a Deposit Notice with relevant information: total cash, date, source of cash and signature. (To ensure that the mechanical accuracy of the deposit was verified by the event volunteer.) Someone other than the event volunteer signed the Deposit Notice. (To ensure that someone verified the mechanical accuracy of the deposit other than event volunteer.) Someone other than the event volunteer deposited the cash within 72 hours. (Ensure safeguarding of assets.) The amount per the Deposit Notice agrees to the amount per the bank. (Ensure completeness and mechanical accuracy of the transaction.) OTHER CASH RECEIPTS: Agree selected cash receipts to the bank statement to ensure funds are properly reflected in the bank. On a random basis verify the mechanical accuracy of certain deposits. Agree selected deposits per the bank to a Deposit Notice. 14

15 DISBURSEMENTS: Ensure that the following procedures/controls were followed for all transactions over $200 and 10 other selected transactions 5 from the books / 5 from the bank statement. Ensure that two authorized signers signed the checks. (Only the President, Vice- President, Secretary are authorized signers.) Verify the mechanical accuracy of the disbursement by agreeing the balance per the supporting documents to the Reimbursement Request. Ensure that a Reimbursement Request or a Check Request is properly completed, signed, and authorized. Verify that the amount per the Reimbursement Request has proper support (invoice, purchase order, or transaction receipt from outside vendor). If transaction is over $200, the transaction must be PRE approved by a majority of the Executive Board. Approval must be document in one of the following ways: signature on Reimbursement Request, Executive Board Minutes, Minutes, or approved annual budget. All checks must be made to third party vendor or an authorized person (committee chair, coach, board member) requesting a refund. At no time is a note, letter, or from a parent of an organization acceptable as the sole support for a transaction. Agree the balance per the Reimbursement Request to the bank statement to verify completeness. Agree the balance per the bank statement to the Reimbursement Request to verify validity. OTHER RESPONSIBILITIES: Ensure that the numerical sequence for all checks is accounted for in each period. Note the last check number per review so the auditor the next month will know where to start their review. If a check is not accounted for, ensure that the check is properly defaced. Report any missing checks as an audit exception and investigate. Review bank statement for unusual transactions. Ensure that bank reconciliation was completed on a monthly basis. Agree balance per books to the financial records. Agree the balance per bank to the bank statement. Review all outstanding items for reasonableness. Review budget to actual on a quarterly basis. Document any significant budget/expense overages to ensure that proper approvals were obtained and documented in the minutes of the meeting or the minutes of the Executive Board Meeting. 15

16 Review the Balance Sheet and Income Statement. Agree the beginning fund balance to the financial records from previous month. Agree cash balance to bank reconciliation. Ensure net income/expense per the financial statement agrees to the balance sheet. Investigate any unusual balances. Obtain proof that IRS Form 990 was filed on time. Each year the ENVB Booster must file by July 1 st with Edmond Public Schools as of May 31 to obtain approval to operate as a Sanctioning Organization. Ensure that the proper reports are filed with the EPS. Discuss findings at meeting. File a copy of the report with the Treasurer and the Executive Board (to attach to the board minutes). If any exceptions are found, prepare a separate Exception Report to submit with your review report. The Exceptions Report should detail: exceptions noted, steps taken to remedy the exception, and recommendations made to prevent further occurrence of exceptions noted. Sign and date each report. If exceptions are noted during the audit (errors, irregularities), consult with the organization s treasurer and president (if necessary) to resolve the exception. The treasurer is responsible for making any corrections to the ledger or checkbook. The organization s treasurer and president are responsible for acting upon the recommendations made by the reviewer. Consideration should be given to documenting board s response to each exception along with resolution and any action steps to improve controls. 16