Toastmaster Treasurer Training January 6, 2018 Tony Utnik and Alison Laird 1
Your Role as TREASURER You are the club s accountant. You manage the club s bank account, writing checks as approved by the executive committee and depositing dues and other club revenues. You are also in charge of submitting membership-renewal dues to World Headquarters (accompanied by the names of renewing members), filing necessary tax documents and keeping timely, accurate, up-to-date financial records for the club. Though the treasurer s duties are usually not the most demanding of all the club leadership positions, the consequences for members can be serious when they re not completed accurately and on time. Stay current on all new developments via The Leader Letter and the announcements published on the Toastmasters website. Some Best Practices Treasurer Manage the club s bank account; write checks as approved by the executive committee (officers), collects and deposits dues and other club revenues into club account. Prepare and send out membership-renewal dues statements to members by September 1 and March 1. Submit all membership-renewal dues to World Headquarters no later than October 1 and April 1. Reconcile deposits, expenditures, and cash on hand each month. Track and report all club finances at officer's meeting. Keeps track of all receipts for reimbursement as required. Receives and reviews reports from Toastmaster International audits at term end. Reports any discrepancies. 2
Treasurer You are the club s accountant. You manage the club s bank account, writing checks as approved by the executive committee and depositing dues and other club revenues. You are also in charge of submitting membership-renewal dues to World Headquarters (accompanied by the names of renewing members), filing necessary tax documents, and keeping timely, accurate, up-to-date financial records for the club. Though the treasurer s duties are usually not the most demanding of all the club leadership positions, the consequences for members can be serious when they re not completed accurately and on time. Stay current on all new developments via the Leader Letter and the announcements published on the Toastmasters website. Club Constitution and the Standard By laws of Toastmasters International Toastmasters Club Constitution for Member Clubs, Article VII: Duties of Officers, Section 6 The treasurer is responsible for club financial policies, procedures, and controls. The club treasurer receives and disburses, with the approval of this club, all club funds; pays to Toastmasters International all financial obligations of this club as they come due; and keeps an accurate account of all transactions. The club treasurer shall make financial reports to this club and to the club executive committee quarterly and upon request, and shall transmit the accounts and all undistributed funds to the successor in office at the end of the club treasurer s term. Club Leadership Handbook Page 36 3
Treasurer Responsibilities Oversee Accounts You prepare and oversee the club budget. Create the budget at the beginning of the Toastmasters year in conjunction with the executive committee. Report on the club budget as needed at club and executive committee meetings. Manage the club bank account. Reconcile deposits, expenditures, and cash on hand each month. File necessary paperwork with the Internal Revenue Service if your club is based in the U.S. See Policies and Protocol, Protocol 8.2: Fundraising, 3. Tax and Other Legal Requirements. Transfer club financial information to the incoming treasurer. Collect Membership Dues You collect and pay membership and club dues to World Headquarters. See Policies and Protocol, Policy 8.0: Dues and Fees. Prepare and send out membership-renewal dues statements to members by September 1 and March 1. Submit all membership-renewal dues ($36 per person, or $27 per person for clubs not assigned to districts) accompanied by the names of renewing members online to World Headquarters no later than October 1 and April 1. Remind members that if membership-renewal dues are paid late, they might not be eligible for speech contests, education awards, or club recognition in the Distinguished Club Program. Submit new member applications to World Headquarters with new membership dues payments. Club Leadership Handbook Page 37 4
Pay Bills You write checks to disburse funds as necessary for club activities. Pay for secretary s purchase of club materials and equipment, such as ribbons, lecterns, timing devices, and promotional materials. Receive and pay bills from World Headquarters. Pay recurring bills, such as for meeting places and meals, as authorized by the executive committee. You keep clear, accurate records of all club financial transactions. See Policies and Protocol, Protocol 8.1: Club and District Assets. policies and protocol Protocol 8.2: Fundraising 1. Guidelines Clubs, areas, divisions, and districts may conduct fundraising activities to offset the costs of educational sessions and to further the purpose of Toastmasters International, provided certain guidelines are met, including the following: A. The product or service rendered is donated or voluntary. B. No individual member profits financially from the activity. C. The profits are used to further Toastmasters International s tax-exempt purpose. D. At least one-third of the club s total support is from member dues. E. Fundraising is conducted on an infrequent and irregular basis. F. The fundraising activity is legal in the club s or district s city, state, province, or country. G. All revenue and residual funds raised in connection with a district event or activity (such as a contest, conference or training) sponsored by a club, area or division, belong to the district. If the event or activity results in a loss, it is assumed by the district. Club Handbook Pages 37-38 5
2. Fundraising Activities A. Clubs may conduct Speechcraft, the Success Communication Series, the Success Leadership Series, The Better Speaker Series, The Successful Club Series, and The Leadership Excellence Series, and charge participants a fee that is reasonable and used to buy program materials. Areas, divisions and districts may not conduct these programs. B. Raffles, auctions, or sales of donated goods may be held at a club, area, division, or district event. C. It is acceptable to pursue advertisements or sponsorship for club and district newsletters, websites, conference programs, and events, the revenue from which is used to offset production costs. D. Entertainment books or diner s books may be sold. E. The Toastmasters name may not be used in connection with non-educational events. F. Other than entertainment or diner s books, items may not be bought and resold. G. Funds may not be raised for social events, for other charitable causes; for setting up a fund, such as a scholarship or educational fund; nor to support a campaign for a candidate at any level inside or outside the organization. H. Competitive events not directly related to the Toastmasters purpose, such as golf tournaments or walkathons, may not be organized or participated in. I. Any event that has a high degree of risk, including risk of injury, is prohibited. 6
3. Tax and Other Legal Requirements A. It is the responsibility of the individual clubs to determine the tax filing or other legal requirements in their city, state, province, and/or country, and to file proper forms as appropriate. B. Failure to comply with tax or other legal requirements may result in the revocation of a club s charter. Treasurer Checklist Before Club Meetings Prepare a financial report as necessary to be presented at the meeting. During Club Meetings Collect any payable membership-renewal dues and fees from members. Present the club financial report when necessary. Outside Club Meetings Reconcile deposits, expenditures, and cash on hand each month. If your club is located within the state of California, file the 199-N with the Franchise Tax Board by May 15 for the previous year. The 199-N is filed electronically and typically only takes 10 to 15 minutes to complete. Failure to file will ultimately jeopardize your club s tax-exempt status and subject your receipts to income taxes. If your club is outside the U.S., consult a tax advisor to ascertain your government s tax regulations. Issue checks to cover club expenses. Receive all bills and other financial correspondence for the club. Prepare for the audit committee near the end of your term of office. 7
Items to Prepare for the Audit Committee Checkbook register Bank statements and cancelled checks Cash book and journal Paid bills Deposit slips Copies of monthly financial statements Material requested by the committee Common Scenarios Treasurers Face Following are examples of scenarios you may encounter in your role as treasurer and suggestions for how to resolve them. As you successfully respond to your own experiences in this role, be sure to share them with the Education team at World Headquarters (tminfo@toastmasters.org). Scenario: A member submits his membership-renewal dues to the club on time. The member has a receipt proving that he paid membership-renewal dues to the club. However, as treasurer, you submit membership-renewal dues to World Headquarters late; as a result, the member is disqualified from a speech contest. Possible solutions: Unfortunately, there is no solution to this problem, except to avoid it before it happens. As the treasurer, you are responsible for paying all membership-renewal dues on time. If you do not, other club members may have to suffer the consequences. club expenses Website Newsletter Supplies from World Headquarters, such as trophies, ribbons, and educational materials Administrative supplies Postage Meeting spaces 8
Scenario: You experience difficulty motivating members to pay membership- renewal dues early. Possible solutions: Make the club s due date a few weeks earlier than the organization s due date. Explain the consequences such as no speech contests and no education awards to delinquent members. Scenario: The previous club treasurer did not keep adequate records. Possible solutions: At the beginning of your term of office, take possession of all available records, and review the audit committee s report. Then begin monitoring the club finances as efficiently and completely as you can, creating a simple record-keeping system and documenting your procedures for future treasurers. Treasurer Resources Distinguished Club Program and Club Success Plan (Item 1111) www.toastmasters.org/1111 Success Communication Series and Success Leadership Series www.toastmasters.org/successprograms Submitting club dues www.toastmasters.org/clubcentral Use of Toastmasters materials www.toastmasters.org/memberlists 9
ARTICLE IV: Meetings and Notice Regular Meetings Section 1 Regular meetings of this club, which shall include any business meeting of active individual members, shall be held as provided in the Addendum. Special Meetings Section 2 Special business meetings of this club may be called by a majority vote of the active individual members present and voting at any regular meeting at which a quorum is present, or by the club executive committee or club president. Club Executive Committee Meetings Section 3 Meetings of the club executive committee shall be held as provided in the Addendum. Notice Section 4 No notice shall be required for regular business meetings held as provided in the Addendum. Notice of any change in the date, time or place of any regular meeting, and notice of all special meetings, shall be given by first-class mail, telephone, (including voice messaging system) facsimile transmission or other electronic transmission such as email, personal delivery or other reasonable means at least four (4) days in advance of such meeting to all individual members of this club. Notice of special meetings shall include a statement of the general purposes of the meeting, but any membership business Otherwise valid may be transacted at the meeting. Section 5 If this club shall permanently change the time or place of regular meetings as provided in the Addendum, the club secretary shall immediately provide notice of such change to World Headquarters. 10
ARTICLE V: Quorum and Voting Quorum Section 1 A majority of the active individual membership shall constitute a quorum for the transaction of all Business of this club. A majority of the club executive committee shall constitute a quorum for the transaction of the committee s business. Voting Section 2 Each active individual member shall be entitled to one vote on any matter presented to the club membership for a vote. Section 3 No voting by proxy or absentee ballot shall be permitted on any matter presented to the club membership for a vote. Section 4 Unless a greater vote is required by this constitution in a particular matter, the affirmative vote of at least a majority of those active individual members who are present and voting at a duly held business meeting at which a quorum is present shall be the act of this club. ARTICLE VI: Officers Officers Section 1 The officers of this club shall be a club president, a vice president education, a vice president membership, a vice president public relations, a club secretary, a club treasurer (or a club secretary-treasurer), a sergeant at arms, and the immediate past club president. Education Credit Section 2 In addition to the officers provided in this constitution, this club may have such other officers as may be provided in the Addendum, but Toastmasters International credit toward any educational award is limited to service as a club officer named in this constitution. 11
Term of Office Section 3 Officers shall serve for terms of one (1) year, provided that if, and only if, this club meets weekly throughout the year, this club may provide in the Addendum that officers shall serve for half-year terms. The terms of officers serving an annual term shall commence at 12:01 a.m. on July 1 and end on June 30 at midnight. The terms of officers serving a half-year term shall either commence at 12:01 a.m. on July 1 and end on December 31 at midnight, or commence at 12:01 a.m. on January 1 and end on June 30 at midnight. Immediate Past President Section 4 Except for the immediate past club president, the officers of this club shall be elected by the active individual members of this club. If the office of immediate past club president is vacated for any reason, it shall stay vacant for the remainder of the term. Nominations Section 5 Nominations for club officers shall be made by a club nominating committee appointed by the club president at least two (2) weeks prior to the election. This committee shall consist of three (3) active individual members, when practicable. This committee shall present its report at the regular business meeting immediately preceding the business meeting at which the election is to take place, and shall present only the names of active individual members who have consented to serve if elected. Further nominations may be made from the floor at the time of the election by any active individual member. All elections shall be by secret ballot, unless a secret ballot is dispensed with by unanimous vote, with a majority vote of all active individual members present and voting necessary to elect each officer. The chair of the club nominating committee shall be the immediate past club president, unless the best interests of the club require otherwise. 12
PREPARE YOUR CLUB FOR GROWTH Do your members look forward to your next Toastmasters meeting? Are most of your guests joining your club? If your answer to either question is no, it s time to find out why. Every club gains a new member now and then. But do those members stay? If not, why not? If new members generally don t stay with a club, the club is not meeting their needs. For sustained membership growth, make your club worth belonging to! Start by evaluating your club using the Moments of Truth analysis on the following pages. After the inventory is compiled you have a benchmark a starting point for club improvements in every factor needed to sustain growth. Let s begin. The Moments of Truth A Moment of Truth is a brief window of time in which a critical objective must be achieved. An example of the first moment of truth experienced by a prospective Toastmaster is when he or she walks for the first time into the club s meeting room. Is the prospective member greeted warmly and introduced to the members of the club and made to feel at home? If the answer is yes, then your club was successful during this particular moment of truth! The Moments of Truth evaluation is an objective look at club operations and programs to determine how these can be improved for obtaining and retaining members. Experience has shown that clubs that maintain a high standard of excellence in their club programming, operation, management, member participation, and community activities have a large membership. Watch for areas that need your immediate attention. Improve activities you already are doing. Take prompt action on activities needing improvement. The club president should assign responsibilities to the appropriate member or committee. It requires a coordinated effort of each officer and member to prepare your club for growth. 13
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Five Things You Can Do to Get Your Guests to JOIN YOUR CLUB! 1.) Make them feel welcome! Guests feel welcome and comfortable if they see happy members and a well-run meeting. Make sure that your visitors are not ignored after the initial 'welcome' and handshake. Introduce them to two or three members. Give them a take-away (see #2). Set standards to ensure every meeting is a quality meeting: agenda set in advance members find replacements ahead of time constructive evaluations short business meetings start on time and end on time. Invite (but don't force) them to participate in the meeting (table topics, comments at end of meeting). 2.) Give them a Guest Packet! Items to include: Welcome letter from Club President briefly explaining the TM program and outlining the benefits of becoming a member Copy of the Toastmaster magazine Copy of your club newsletter 10 Tips for Public Speaking (or other handout from TI website -- remember the FREE stuff!) Club Officer Contact sheet Toastmasters Abbreviations sheet Membership application (pre-filled-out with club information) Features, Benefits and Values chart Ice Breaker 3.) Explain all the Confusing "Stuff!" Seat your guests next to a 'friendly face' who can answer questions and clarify what's happening during each part of the meeting. Spend a few minutes during the break or after your meeting, covering the following: why they decided to visit a TM club how the program can benefit them how it has benefited you personally what would happen after they join (new member kit, speech scheduling, mentor assignment, etc.). Let them ask lots of questions. 4.) ASK them to join! "If you don't ask, you won't get!" Let your guests know that you'd love to have them as a member, because (...and give them a few reasons: you like their enthusiasm, it would be interesting to hear about their own life experiences, you could learn from them, etc.) Don't beg. Don't tell them about all your membership "heartaches." Don't treat them like a "point" in the DCP. Keep it positive and upbeat! 5.) Send them a thank-you note & reminder about the next meeting! No... not an email... an old-fashioned hand-written thank-you note! Very few people write notes these days, and it will make a great impression on them! Be sure to include an invitation to your next meeting. 18...it all comes down to making a GREAT first-impression!
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