LOCAL CHAPTER TREASURER TRAINING

Transcription

1 LOCAL CHAPTER TREASURER TRAINING Welcome to this training session for local chapter treasurers. Thank you for saying yes to this important responsibility for your chapter. It is your duty to record and report the financial activity of the chapter. Today we will review the tools that are available to execute your duties and also the forms and processes to be used when reporting financial activity. We will outline your duties as a local chapter treasurer and direct you to resources that will make your job easier. A printable copy of this script will be provided on the NEDC website once all local chapter treasurers have been trained. Also you will have continuous accessibility to this training module at any time of the day or night, as it will remain online in the Chapter Resources section of the NEDC website. This training module is designed to be used with your Local Chapter Treasurer s Calendar, also available on the NEDC website, under Chapter Resources, Forms/Reference. Let s get started.. DUTIES As treasurer, your greatest resource is the P.E.O. website, On the website, you can find written information pertaining to your job as treasurer in the Instructions to Officers of Local Chapters (IOLC). The IOLC can be found on the website under Manuals & Handbooks. Always be certain you are using the most current version. You may either view the instructions online or you can print the document. We strongly urge you to print your section of the IOLC. You should also read Part III of the Constitution, Article V, Section 6, that pertains to the duties of the treasurer. To receive and collect all dues and assessments. To receive initiation fee from corresponding secretary. To give receipt for cash received or upon request. To order and deliver emblems for initiates and for others upon request. To order all supplies. To pay all bills ordered by the chapter. To report to the chapter at the first regular business meeting each month an itemized account of all moneys received and disbursed, using the official form. To keep a correct list of members of the chapter and a record of attendance at each chapter meeting. To send, or give, notice of dues six weeks prior to March first to all active members, including nonresident, and to members whose transfer to other chapters have not been accepted; to send, or give, a second notice if necessary. To forward annual dues of the chapter and to report as required on the official forms to the proper elected or appointed state (or International) chapter officers. To retain all books and supplies until released by the proper elected or appointed state (or International) chapter officers or appointee. The Constitution is also available on International s website, again under Manuals & Handbooks. Make it a habit to log on to International s website frequently. You ll find the latest updates on P.E.O., as well as many of the forms and materials you ll need as treasurer. You ll find the forms you need under Local Chapter Forms. Scroll down to Treasurer and see the extensive list available. Accessing these items from the website is a good way to be sure you have the most recently-revised version of the form you need and you may print them as necessary. Retaining a supply of local chapter forms is not required and will ensure that you are not using outdated forms! Enlist the assistance of your chapter technology contact if you need help navigating the website. SUPPLIES Most of the local chapter treasurer s supplies are available at no cost on the P.E.O. website. Any form on the List of Supplies for Officers of Local Chapters that is noted with a bolded capital W means it is on the website and can be downloaded as needed. For a listing of treasurer s supplies for purchase, go to Online Ordering, Order Local Chapter Supplies. You may pay by credit card when using the Online Ordering option (remember to submit the bill to your chapter for reimbursement). You will need your member ID number to log into this section of the website. Your member ID can be found on the mailing label of your P.E.O. Record or by using the search feature on the online ordering page. List of Supplies of Local Chapter Officers for the Treasurer: W - Audit Committee Instructions W - Emblem Order form W - Monthly Report to Chapter

2 W - Notice of Dues Order online: Financial Records and Roll Call Book Membership Cards Receipt Book Supply Order form Remember, you must order a P.E.O. Constitution for an initiate or your chapter may choose to order a NEW MEMBER GIFT (see New Member Gift section later in this module). It is also your responsibility to order supplies for your chapter s officers. Periodically check with other officers to determine if supplies are needed. To order supplies for officers, go to International s website, Local Chapter Forms, Treasurer, and print the Local Chapter Supply Order Form. Complete the form and mail it to the P.E.O. Supply Department, 3700 Grand Avenue, Des Moines, Iowa, BANK ACCOUNT One of the first things you will do as treasurer is to add your name as a signer on your chapter s bank accounts. For chapters in the United States, you may need to provide proof to the bank that you are an authorized signer for the chapter. Your bank will guide you through the process since they each have their own procedures. If you have any difficulty or need additional information, please call the P.E.O. Executive Office for assistance at (515) As primary signer on the bank accounts, you will also receive the monthly bank statements. Be sure to reconcile these each month and file the reconciliations for the auditing committee. Debit and credit cards are not to be issued or held using the name or tax ID number of a local chapter. If issued by the bank, these cards should be destroyed immediately. Chapters may have more than one bank account, e.g. a checking account and a savings or money market account. The checking account should be used for P.E.O. business only, such as the chapter s annual operating expenses, including deposits for any fundraising and subsequent contributions to the P.E.O. philanthropies. If there is a charitable cause to which chapter members wish to contribute, they should make donations directly to that charity from their personal accounts. Money earmarked for local charities should NOT be deposited into the chapter s account, and the chapter treasurer should NOT write checks to local charities. Chapters are encouraged to give of their time and talents, rather than chapter funds, to local charities. If there is a second account, then the chapter should have clear guidelines regarding the purpose of the account. When will it be used, expected minimum and maximum balances, etc. The danger lies in letting the account become a repository for relatively large sums of money that aren t used for any specific purpose. It becomes a rainy day fund, when, in fact, local chapters do not need such a fund. No monies should be held by a chapter just in case. FINANCIAL RECORDS The Local Chapter Treasurer s Financial Records book is where you record all financial transactions of the chapter and keep your financial reports. There should be a sample page included in this book illustrating how entries are to be recorded on the receipts and disbursements pages. If your chapter no longer has this Sample Ledger Sheet, you might ask another chapter to make a copy for you, otherwise, the only way to obtain one is to order the entire set of books for the treasurer through the Online Ordering process for $ Remember, the first receipt issued on or after March 1 shall be #1 each year. CHAPTER MEETING With the changes to the Order of Business that were adopted at the 2009 Convention of International Chapter, the duties of the treasurer at a chapter meeting will be conducted at one time. When called upon by the president during a chapter meeting to present the report of the treasurer, this will include in the following order, roll call, the monthly financial report if it is the first meeting of the month, and presentation of bills. You will pay all bills approved by chapter vote, including budgeted items. YES, budgeted items require approval by chapter vote before the check can be written. Members should

3 submit all bills to you prior to the meeting so you can move the bills be adopted in one vote. If requested, any bill can be pulled for a separate discussion and vote. TREASURER S MONTHLY REPORT TO CHAPTER Each month, the financial activity is summarized on the Treasurer s Monthly Report to Chapter, and reported during the first regular business meeting of the month. The monthly report is to be dated the first day of the month and is filed with the recording secretary for summary inclusion in the minutes. You will also keep a copy of this report in your records for the Auditing Committee. Check Book Ledger Sheet Distribution of Disbursements Distribution of Receipts A computerized version of the financial record book is available using Microsoft Excel. You must have an Excel version later than 1997 to use the program. A copy is purchased by your chapter. The cost is $25 after receiving the spreadsheet. The program can be passed from treasurer to treasurer by notifying the controller at the executive office when your chapter has had a change in treasurer. Treasurers may switch back and forth from manual to computerized versions as needed. If interested you can, contact Fanny Lunders, Controller, P.E.O. Executive Office, 3700 Grand Avenue, Des Moines, IA You may also contact her by flunders@peodsm.org. INSTRUCTIONS LOCAL CHAPTER TREASURER S RECORD BOOK Each treasurer should have a copy of these instructions in their record book. These instructions are very detailed and provide direction for all entries you will need to make during a year including: receipts, deposits, split transactions, disbursements, savings account entries, monthly report information, annual closing of books, and auditing of the books. These pages are available on International s website under Local Chapter Forms.

4 SAMPLE LOCAL CHAPTER BUDGET The duty of preparing a budget does not necessarily have to reside with the chapter treasurer, but she must be involved. This may be accomplished by the Finance Committee or it may be a joint effort between the committee and the treasurer or the treasurer may prepare the budget herself if she feels confident in her abilities. Chapters are more successful in reaching their financial goals when they have a working budget.

5 . ROLL CALL At each regular and special business meetings you will call the name of each resident member. After roll is called, stand and report, Madame President, _# members responded to roll call, guests are not included in this total. Be prepared to report the number of voting members present in case of a written ballot. For all social meetings, you must provide a sign-in sheet. After the social meeting, notify the recording secretary of the number of members in attendance. For detailed instructions, please refer to the Roll Call Instructions available on International s website under Local Chapter Forms, Treasurer. These instructions should be kept in the Local Chapter Treasurer s Financial Records book, just before the Roll Call section. Additional Roll Call sheets may be printed from International s website, under Local Chapter Forms CONTRIBUTIONS TO P.E.O. PHILANTHROPIES AND FOUNDATION As treasurer, you will be responsible for writing out your chapter s contribution checks to the P.E.O. philanthropies and P.E.O. Foundation. Contributions can be confusing, so we have included a few questions to ask yourself before processing any contributions: 1. Is the donation from your chapter and the funds will be disbursed from the chapter treasury, if yes, proceed by using the NEDC Gift Form for P.E.O. Philanthropies. 2. Is the donation from an individual (a member or non-member of P.E.O.)? If yes, STOP! The donor MUST use the forms provided on International s website under Giving Opportunities. (See EXCEPTION below) CONTRIBUTIONS MADE BY THE CHAPTER Encourage your chapter to send its gifts as soon as possible. Your money earns interest when sent early, therefore, your money grows and your chapter gives more! Also, please note that in order for your chapter s contributions to appear on the NEDC Gifts to P.E.O. Philanthropies in the NEDC convention program, all gifts MUST BE RECEIVED BY the district

6 paid assistant treasurer by February 28/29 each year. Contributions received after February 28/29 will appear the following year. You will find the NEDC Gift Form for P.E.O. Philanthropies on the NEDC website, under Chapter Resources, Forms/References. You MUST include this transmittal form with your chapter s check. Any questions concerning completion of this form should be directed to the NEDC paid assistant treasurer. CONTRIBUTIONS BY INDIVIDUALS If an individual (either a member or nonmember) wishes to make a U.S. tax-deductible gift to P.E.O., they must visit International s website and either print forms or use the online forms. They may make donations by credit card or by check. The check must be made payable to the P.E.O. philanthropy or P.E.O. Foundation and mailed directly to the executive office or Cottey College. You should not deposit any checks from individuals wishing to make tax-deductible gifts to P.E.O. since a local chapter does not qualify as a charity under IRS rules. All acknowledgements of gifts from an individual (member or non member) will be sent from the executive office. If the gift is an honorarium or memorial, please be sure that the donor includes names and addresses of anyone who should be notified of the gift. Individual donors giving a contribution of $250 or more will also receive a tax letter for verification of charitable status under United States IRS regulations. Local chapters are NOT allowed to give out any tax receipts for donations. Remember, because your chapter is NOT charitable by government regulations, only direct individual donations to P.E.O. philanthropies and P.E.O. Foundation allow the donor a charitable deduction for U.S. income tax purposes. EXCEPTION: If an individual wishes to make a donation in the form of a Love Gift to the NEDC or to the NEDC Cottey Travel Fund, the individual will use the NEDC Gift Form for P.E.O. Philanthropies on the NEDC website. GIFTS IN HONOR OF OR IN MEMORY OF FROM INDIVIDUALS TO THE CHAPTER Checks from individuals for a Group Chapter Gift in honor of OR in memory of a sister should be made payable to your chapter. Deposit these funds into your chapter s checking account and when you have collected all the funds, write one check and send with the NEDC gift form. EXAMPLE: Your chapter is honoring Mary Marvelous for 50 years of membership. The chapter votes to give a gift of $50 to IPS in Mary s honor. In addition, Diana Donor gives you $25 cash to be gifted to PCE in Mary s honor and you receive a check for $15 payable to your chapter from Gina Generous for ELF in Mary s honor. Write a receipt to Diana Donor for the cash gift. Write a receipt to Gina, if requested (a cancelled check is also considered a receipt by many). Deposit the cash and the check into your chapter s checking account Write one check from your chapter s checking account for $90 ($50 chapter gift, $15 cash, $25 check = $90) payable to the Northeast District Chapter P.E.O. Complete the NEDC gift form. In the philanthropy section of the form, indicate $50 on the line item for IPS, $25 on the line item for PCE and $15 on the line item for ELF. Make sure to check the box marked Gift in Honor of and include the full name of Mary Marvelous, her chapter letter affiliation and the two letter state code on the lines provided. Below, be sure to include Mary s mailing address so that she will receive an acknowledgement. YOU MUST MAKE CLEAR ALL WISHES AND INTENTIONS ON THE GIFT FROM! (If necessary, include a letter with your wishes clearly explained.)

7 In order to avoid using old forms, we suggest that you download a new form each time you make contributions. You may write one check, payable to the district chapter, giving the breakdown of individual philanthropy amounts on the transmittal form. Mail the check and form to the district paid assistant treasurer. The transmittal form provides specific mailing instructions. Each chapter will receive an acknowledgement from the district elected treasurer. INITIATION AND REINSTATEMENT FEES Effective March 1, 2010 there was an increase in both the initiation and reinstatement fees. Both fees are now $35. You will deposit the fee into the chapter s checking account when received. Initiate - the fee includes the cost to purchase a new emblem. Reinstatement - the fee includes the cost of a replacement emblem if needed. When annual reports are submitted, $15 for each initiate and reinstatement will be included in your check to the district paid assistant treasurer and eventually forwarded to International Chapter. The amount left over after forwarding $15 and purchasing needed emblems will be kept by your local chapter. Active members transferring into your chapter do not pay any fees; their dues will be collected by February 28/29 with all other chapter members. PURCHASING EMBLEMS If a chapter member asks you to place an order for a new or lost emblem, use the official Emblem Order Form for ordering all emblems and send it with correct payment to the P.E.O. Emblem Division at the executive office. Emblems can also be ordered online with a credit card payment and as of 2013 Convention of International Chapter, members can now order their own emblems. Keep a copy of the order form for your records until the emblem is received.

8 NOTE: When replacing a lost emblem, the chapter letter(s) engraved are always those of the initiating chapter. If you have questions as to the initiating chapter or dates, contact the district secretary for assistance. Do not use periods, for example: Mary Ellen Jones K ME A member replacing her lost emblem pays the cost of replacement. Members who wish to exchange their current safety latch emblem for the button back style must pay the cost of a new emblem and return their current emblem to the Emblem Department before the new style emblem will be shipped. For Reinstated Members Complete the date of reinstatement on the order form. The fee paid by the member to reinstate includes the cost of a replacement emblem. Check the emblem carefully for errors as soon as it arrives. If there are errors or if the emblem is not received within two months of placing the order, contact the Emblem Department at emblem@peodsm.org or call (515) Errors by the engraver will be corrected free of charge if the emblem is returned within one month from the date of receipt. Errors resulting from incorrect instructions will incur a $5 reengraving fee. NEVER return an emblem to the jeweler! The emblem for a new member MUST NOT be ordered until after her initiation. The name listed for engraving must agree with the name of the member as recorded by the Corresponding Secretary. No titles are used (i.e. Ms. Mrs.) Two clasp options for the P.E.O. emblem are available. One style has the traditional safety latch; the second style has a button back clasp. The purchase price is the same for both styles; however you will need to determine which style the member prefers before ordering. NEW MEMBER GIFT Each initiate MUST receive a P.E.O. Constitution. You may order this individually or your chapter may wish to order a New Member Gift for an initiate. These are available through the P.E.O. Supply Department and may also be ordered online at a cost of $8. Included in the gold gift bag is a P.E.O. Constitution, a booklet entitled Guide for New Members, some P.E.O. note cards and The Spirit of P.E.O. DUES One of your most important tasks as treasurer is to receive the dues from each member of your chapter. At least six weeks prior to March 1, (note some chapters begin this process as early as October) notify all members that dues are payable, including your nonresident members and members whose transfers have not been accepted. Use the Notice of Dues form found on International s website under Local Chapter Forms. Send second notices and continue to follow-up

9 with phone calls and s. Remember there are some members who might require additional contact. IMPORTANT PREVENT INACTIVE MEMBERS! Do not simply mark a member as inactive because you have had no response! Make every effort to directly contact each member! Many times our members do not realize that their dues have lapsed, causing them to become inactive. Ask others in your chapter to help you make personal contacts, if necessary. In order to prevent inactives, discuss the option of becoming a non-participating member. Explain the difference between an inactive and a non-participant. An inactive member forfeits all benefits of P.E.O.; she will no longer receive the P.E.O. Record, and will no longer be able to attend any chapter meetings. She may still be included in social events, but many chapters lose contact with inactive members. Instead, encourage her to become a non-participant. As a nonparticipant, the member will still pay her dues (or the chapter may do it for her) entitling her to all privileges of the Sisterhood. She will continue to receive the P.E.O. Record, she may attend meetings and of course is welcome at all social events. The chapter will understand that at this time, she just needs to take a break from full involvement in P.E.O. activities. Most sisters who become non-participants eventually come back and enjoy full participation in chapter activities, whereas those who go inactive are far more likely to be lost to P.E.O. forever. A non-participating sister continues to receive chapter s and newsletters keeping her involved and up-to-date with chapter happenings, making it easier for her to rejoin the chapter when she is ready. Only chapter members can prevent sisters from going inactive! In February, determine the potential need by members for assistance with dues. Remember that it is possible for your chapter to advance dues for a member. By vote of the chapter, the treasurer may be authorized to advance International Chapter and District Chapter dues to maintain a member s active status (see the Explanation of Dues Advancement for Treasurer s Book Entry instructions on the following page). Remember, dues are paid in advance for the coming year. Paying dues keeps a member active through February 28/29 of the following year. A member who does not pay her dues before March 1 is listed as inactive. Always use February 28/29 as the inactive date when recording the information on the Annual Report of the Corresponding Secretary. After receiving a dues payment, a membership card is issued (dated February 28/29 of the following year) and serves as the receipt. Issue a membership card to transfers as soon as their acceptance letter is read. Issue a membership card to a reinstated member once the corresponding secretary has completed the Change in Membership form. A membership card is presented to an initiate during Suggestions for the Good of the Chapter at the time of her initiation. IMPORTANT!

10 A member remains an active member of her current chapter until another chapter has accepted her transfer. If the inviting chapter does not accept her transfer before February 1, her current chapter must collect International Chapter and District Chapter dues from the member. This step-by-step procedure is available on International s website under Local Chapter Forms. FUNDRAISING AND USE OF FUNDS In keeping with the mission of P.E.O., the focus of chapter funds and fundraising activities shall be International Chapter philanthropies, followed by district philanthropies. In order to protect International Chapter s exemption with the United States Internal Revenue Service, chapters must demonstrate the mission of P.E.O. through financial support. Therefore, P.E.O. dollars, offered and earned by members in the name of P.E.O., should be considered primarily for approved P.E.O. philanthropies and/or the P.E.O. Foundation with minimal chapter funds used for outside philanthropic or local educational activities. To strengthen P.E.O. s visible influence in the community, chapters and chapter members are encouraged to offer their talents and skills, time and service for local philanthropic and educational endeavors. ADVERTISING FUNDRAISING EVENTS Fundraising events involving sale of items to the public must provide the following statement on all event advertising: P.E.O. chapters support the educational and charitable funds of the P.E.O. Sisterhood, but are not classified as

11 charitable by the IRS. Therefore, donations to individual chapters do not meet the IRS requirements for a charitable income tax deduction. P.E.O. shall not be liable in any way for any goods and services supplied by third-party vendor or public establishments. All payments received for goods sold must be made payable to the chapter. When advertising to the public, what is said about how the proceeds will be used will determine and possibly limit the disposition of the funds. EXAMPLES: Scenario #1: Chapter XYZ advertises that they will have a bake sale and states all the proceeds from the sale will benefit the P.E.O. Philanthropies. In this scenario, all the NET proceeds MUST be contributed to International Chapter philanthropies. No fund may be diverted to the chapter treasury. Scenario #2: Chapter XYZ advertises a bake sale and states that the proceeds will benefit pursuits that further women s education, or will help to provide scholarships, grants and loans for women s education. In this scenario, the NET proceeds may be used for International Chapter philanthropies, NEDC philanthropies and a portion may also be attributed to the chapter s general fund and used for operating expenses. Promoting P.E.O. at every opportunity, especially in your local community, is a great way to educate the public about the Sisterhood. There are tools on International s website under Resources, Communication Tools, that can assist a chapter in advertising its activities. BED & BREAKFAST - The net income from a local chapter s B & B service must be used exclusively for qualified International P.E.O. philanthropies or educational and/or charitable purposes qualified under U.S. Internal Revenue Code Section 501 (c)(3) and not for chapter operating expenses. The local chapter treasurer shall report details of B&B receipts and disbursements on Form IRS-LC, Annual Summary of Treasurer of Local Chapter. This form is sent to the local chapter president in January. Included on the form shall be an itemized account of how the profit was expended. P.E.O. PYRAMID OF GIVING The P.E.O. giving triangle visually represents how funds raised by a chapter should be disbursed. At the bottom third of the triangle are the International projects. Most of a chapter s funds should go towards supporting these projects. The middle third of the triangle is for district projects: the NEDC Cottey Scholarship Fund, NEDC Love Gifts, and the Cottey College Travel Fund. The top third of the triangle and the smallest part is for local, non-p.e.o. giving. Remember, only P.E.O.s support International and District projects. For chapters who feel strongly about wanting to give at the local level, a good option is to consider establishing a fund in the P.E.O. Foundation.

12 The P.E.O. Foundation is not a project but is a service to the P.E.O. Sisterhood that benefits all of the projects. The P.E.O. Foundation offers services for administering funds established by individuals, local chapters or district chapters while allowing the donor to direct proceeds of the fund to further the mission of P.E.O. These funds are professionally managed and diversified, offering growth in principal. The Foundation affords local chapters, states, provinces, districts, or individuals to set up a scholarship fund. The fund is managed financially by P.E.O., but the guidelines for distribution are defined by the local chapter or whoever established the fund. For example, a chapter may decide that it wants to finance a small scholarship for a high school graduate who will be the first in her family to go to college; or a chapter may want to give a scholarship to a second year college student, in order to encourage her to continue with school. There are hundreds of individual funds in the Foundation, each with its unique target audience. The chapter creates the scholarship s operating guidelines, which are the rules by which a candidate is defined or identified and how the money is to be disbursed. Those guidelines are part of the establishment of the scholarship fund in the Foundation and govern all monetary distributions. The local chapter controls the operating guidelines, and only the chapter can change them. By establishing a scholarship fund in the Foundation, local chapters are afforded the opportunity to give locally without jeopardizing the non-profit status of P.E.O or the charitable status of the projects. All the details on how to establish a fund can be found on International s web site. ANNUAL REPORTS In January, a package containing the Annual Report of the Treasurer will be mailed to your chapter's president. Check with the president to receive your materials. This package will include the annual report forms, IRS-LC Forms and instructions. Please contact your president if you have not received your annual report packet by the middle of February. After all dues have been collected, reconcile the number of dues-paying members with the number of members to be reported on the Annual Report of the Corresponding Secretary. 1. Contact your chapter's corresponding secretary. Verify the following numbers: a) Number of members initiated from March 1 through Feb. 28/29. b) Number of members reinstated from March 1 through Feb. 28/29. c) Number of active members as of March 1 of the coming year. These numbers MUST match those of the corresponding secretary. 2. After your numbers agree with the corresponding secretary, complete the Annual Report of Treasurer of Local Chapter form in triplicate. Dues are submitted with this form. All three copies of the form and a dues check are sent to the district paid assistant treasurer. One check, for the total dues and applicable International and district fees will be made payable to the district chapter. DO NOT COMBINE ANNUAL DUES AND PROJECT GIFTS INTO ONE CHECK. Project gifts must be sent with an NEDC GIFTS to P.E.O. PHILANTHROPIES form using a separate check from the dues check.

13 3. The dues check is the last check you will write for the fiscal year and should be dated February 28/ The annual financial statement, Form IRS-LC, which came in your packet, must be prepared and sent with the Annual Report of Treasurer of Local Chapter. The packet will contain two original IRS-LC forms and instructions. Be sure to properly record your chapter s IRS Tax Identification Number (TIN#) on this form. This number should be found in the Local Chapter Treasurer s Financial Records and Roll Call book. If you need assistance finding your TIN#, or if you have any other tax-related question, please call the P.E.O. Executive Office at (515) DO NOT CONTACT THE IRS FOR ANY REASON! The form is designed to coordinate with the descriptions and totals in your ledger. One original is retained in your files for six years. The second original is mailed to the district paid assistant treasurer. 5. You and your chapter's president must sign all annual report forms. Take this opportunity to verify accuracy and completeness and ensure the numbers of initiated, reinstated and active members agree with the Annual Report of Corresponding Secretary. 6. Verify the following prior to mailing your annual reports: a) Numbers of initiations, reinstatements, and active members match those of the corresponding secretary. b) Arithmetic is correct and the total chapter assets balance. c) All forms have been signed by you and your chapter's president. d) Is the check written for the correct amount - - numerical amount and legal written amount - - and payable to Northeast District Chapter P.E.O. 7. Annual report forms should be mailed no later than March 10. Mail the check, annual reports, and IRS-LC form to the district paid assistant treasurer. Abiding by this DUE DATE is critical to the work of the district paid assistant treasurer. 8. Retain books and supplies until notice of release from the paid assistant treasurer is received. 9. The district paid assistant treasurer will sign and return two copies of the annual report to you. When approved copies of the annual report are returned, read the report to the chapter with the next monthly report, this constitutes your release. a) Give one copy to your chapter president for her files, b) File the other copy in your files, c) The Annual Report of Treasurer is retained for six years. Also remember the numbering system begins again for the new fiscal year. The first receipt issued on or after March 1 will be number 1. AUDITING COMMITTEE Following the preparation of annual reports, the auditing committee reviews the work of the treasurer. At their request, provide them with the ledger sheets for the year, bank statements, copies of the Treasurer s Monthly Report to Chapter and the annual report forms. You must also provide the committee with written instructions. These instructions are located on International s website under Local Chapter Forms, Treasurer. The audit committee completes the form and returns it to the chapter president not the treasurer. The auditing committee reports at the first regular business meeting in March or April under Committee Reports.

14 RECORD RETENTION Retain books and supplies until you have received approved copies of your annual report (your release). If you will not be serving as treasurer for another term of office, deliver to your successor all books, papers and supplies and train your successor on the duties and responsibilities of the treasurer s office. A retention record of forms and materials for the local chapter treasurer can be found in IOLC. P.E.O. SCHOLAR AWARDS LAUREATE CHAPTER & IPS PARTNERS IN PEACE PROGRAM In order to receive recognition at NEDC Convention as a Scholar Awards Laureate Chapter or as an IPS Partner in Peace Chapter, all gifts of $500 (lump sums) must be received by International from the district paid assistant treasurer by March 1 st each year. This means that gifts need to be sent to the NEDC Paid Assistant treasurer well before February 1 st. To become a Scholar Awards Laureate Chapter, the chapter treasurer will use the NEDC Gift Form to send the chapter gift of $500 to the NEDC Paid Assistant Treasurer. Please mark Laureate Chapter Gift next to the line for Scholar Awards. To become a Partner in Peace Chapter, the chapter treasurer must include the IPS Partners in Peace Form with the NEDC Gift form when sending the chapter gifts to the NEDC Paid Assistant Treasurer. This form is available on International s website. Login and scroll down the menu on the left to P.E.O. Projects/Philanthropies, then go to P.E.O. International Peace Scholarship Fund and then scroll down the page to IPS Partners in Peace table and chose the form. Complete the form and mail it to the NEDC Paid Assistant with the gift of $500 well before February 1 st. CEREMONY OF INITIATION Although you are no longer required to memorize the ceremony, it is desirable to read and practice your part as much as possible prior to an initiation. This will make you feel more comfortable and confident and it will enable better eye contact with the initiate during the ceremony. Don t just read the words, but express the feeling behind the words as much as possible. Make sure that you fully understand when to draw the ribbon, how to hold it, and when to raise and

15 lower it. If you have questions, ask the chapter president to explain the correct procedure and follow her instructions. Remember, the Ceremony of Initiation is one of the most special moments in P.E.O. and should be given the same dedication which you give to performing all your duties. It will be remembered by the initiate always. That concludes this training session. Thank you for your dedication to your chapter and P.E.O. Should you have additional procedural questions, please contact your district paid assistant treasurer. NEDC121114