Author Topic: Looking for tips again..... this time about treasurer  (Read 1811 times)

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Offline CoachMattT

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Looking for tips again..... this time about treasurer
« on: March 06, 2018, 05:39:32 PM »
I received a million great tips last time about coaching, I have learned so much from this site that I couldn't help but ask for help with a new situation.
So I have found myself on the youth football board, and rumor is that they are looking at me as a possible treasurer.  I would not even be considering it if I didn't feel comfortable with the job.  Budgets and paperwork combined with an excel spreadsheet would be nothing new to me, but does anyone have any tips on how it is done with youth football.

For a little bit of background, there has been a recent overhaul of the whole board new officers have been elected and there is a whole new feel to the organization and it was sorely needed.  Budget looks rough and because of how it was handled mishandled there is a lot of people wondering just how sticky the fingers were of those who have recently stepped down... but that is another issue and essentially I(or someone else) would be starting from scratch.  Everyone on the board seems on board with the ideas of transparency and multiple signatures for money coming and going. So those of you who have walked the path of treasurer what would be the things you wish you had known or thought of at the beginning that would have helped later?

Matt

Offline spidermac

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Re: Looking for tips again..... this time about treasurer
« Reply #1 on: March 07, 2018, 10:14:49 AM »
Our league has a treasurer and a CPA. The treasurer handles the budgeting and what not, the CPA actually handles all of the money and checks and what not, she makes the journal entries, runs the P&L and brings "problems" to the attention of the board. She all handles the government filings.

No idea how much we pay for the CPA, but the board apparently thinks it is worth it, as no one on the board is actually a CPA, and with the volume of money flowing through the league, it's just a good idea.

Our league is on the biggish side, according to USA Football, we are the largest single site league in the US, between cheer, flag and football we have roughly 2500 participants.
None of them suck, they just haven't found what the kid is good at yet.

Offline mahonz

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Re: Looking for tips again..... this time about treasurer
« Reply #2 on: March 07, 2018, 11:10:02 AM »
CYA

This is not your normal everyday Treasure job....yes you are dealing with other peoples money but those other people now happen to be children.

Two signatures for anything over $500 and a CPA on retainer should do the trick.

I handle our Orgs annual Camp. There are simply too many moving pieces parts in a short amount of time when it comes to purchases for me to request checks for payment. They simply opened up an account for me with the funds in it that I request. Then they hand me a debit card and I go on my spending spree. I in turn hand in receipts that must match very closely with the funds I requested.

The reason this works is now I am not hosed by a process but MY accounting needs to be accurate for their accounting.

BTW I have seen a youth sports Treasure go to jail for a year so.....CYA and be transparent.
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Offline Dimson

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Re: Looking for tips again..... this time about treasurer
« Reply #3 on: March 07, 2018, 11:16:59 AM »
BTW I have seen a youth sports Treasure go to jail for a year so.....CYA and be transparent.
A treasure stole over 30k from a local football team. I am pretty sure that person went to jail as well.

Offline Michael

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Re: Looking for tips again..... this time about treasurer
« Reply #4 on: March 07, 2018, 11:24:01 AM »
I'd try to make the books open to everyone, as long as they're an adult member of the organization.

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Offline CoachMattT

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Re: Looking for tips again..... this time about treasurer
« Reply #5 on: March 07, 2018, 11:30:48 AM »
I'd try to make the books open to everyone, as long as they're an adult member of the organization.

I am hoping to make the books available to all the board members to be able to view online for full transparency.

From the sounds of it our program is much smaller than some of you, we have a total of about 300 kids from peewee to 6th including cheer.  There has not been a CPA in the program in the past and I would question if it is cost effective, but haven't researched if we could get a "team friendly" deal somewhere.

Offline Dusty Ol Fart

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Re: Looking for tips again..... this time about treasurer
« Reply #6 on: March 07, 2018, 11:33:13 AM »
We require 2 signatures over 500.00.  Financial statements are reviewed Monthly by the Board and anyone who comes to the meeting also has access to that information.  Yearly P&L Statement is also done every March in preparation for tax filing.  We had an incident a few years back when someone used our Card at the local Bulk Lot Store.  Bank caught it as that person was no longer on the Signature Card for our Org and Restitution was paid.  The hard thing for some folks to remember is that the money we collect and maintain is used for yearly expenditures but mostly its there to enable the future of the ORG.  That number fluctuates year to year as numbers grow and/or decline.  Equipment and Maintenance takes up the bulk of money.   

Transparency is of the utmost importance for EVERYONE on the Board.  Any time there is a personal agenda involved it can get messy.  I dont have a Horse in the Race and I attend most every Board Meeting.  I have done so for 15 years. 
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Offline patriotsfatboy1

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Re: Looking for tips again..... this time about treasurer
« Reply #7 on: March 07, 2018, 11:59:45 AM »
Some recommendations:
- two signatures on large purchases and they require Board approval.  Could be over $500 or over $1000. We do $500.
- Use an online tool for your books so that multiple people can have access to see things.
- Provide a monthly report that details all ins and outs of the check book
- Avoid cash as much as possible, although it is difficult.  I see more problems with cash skimming than large purchase fraud, but both need to be avoided at all costs.
- Set up your system with categories and sub-categories to track expenses and revenues.  It will help with budgeting.  For us, we break out our cheer and football costs and have common cost categories (across both groups).  I track equipment costs differently for flag and tackle so that I know what to budget for in future years and need for sponsorships or price changes.
- We have a separate tax person who does our filings and we pay a nominal fee to them to oversee things and file with the state.  Costs less than $500 per year, but worth it as we are a 501c3

Offline Michael

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Re: Looking for tips again..... this time about treasurer
« Reply #8 on: March 07, 2018, 12:18:53 PM »
I am hoping to make the books available to all the board members to be able to view online for full transparency.

I see that as partial transparency.

I'd go far beyond the board.
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Offline Michael

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Re: Looking for tips again..... this time about treasurer
« Reply #9 on: March 07, 2018, 12:30:10 PM »
The one thing I'd limit to the board, or even to just a portion of the board, is the identity of families receiving financial aid due to financial need.
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Offline CoachMattT

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Re: Looking for tips again..... this time about treasurer
« Reply #10 on: March 07, 2018, 12:51:10 PM »
I see that as partial transparency.

I'd go far beyond the board.

Good point I guess I didn't look at it that way, but you are right.
Also good point on not revealing whose receiving financial aid.

Offline patriotsfatboy1

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Re: Looking for tips again..... this time about treasurer
« Reply #11 on: March 07, 2018, 01:08:14 PM »
I see that as partial transparency.

I'd go far beyond the board.

Why do you think that is important? 

My take as a Board member is that I am not opening up the books to everyone so that we can have arm-chair questioning of every little thing.  If you want to see what we do and where the money goes, then join the Board and get involved.  If you want to nitpick without any investment of your time, then keep it to yourself.

Offline Dusty Ol Fart

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Re: Looking for tips again..... this time about treasurer
« Reply #12 on: March 07, 2018, 01:45:25 PM »
We do not broadcast the names of kids or families that receive assistance, that information is known only to the Board.  The Board votes on all major expenditures (Over 500.00) and many others are discussed-ratified during the meetings.  i.e. cost for advertising, mailings, if there is a disputed amount on a bill payment will be tabled until resolved.  As far as opening the books to the rank and file, its a no brainer.  Only on rare occasion have we ever been called out for our expenditures by the constituency.  In fact, on that issue, I submit that most folks have no concept of the costs involved to run our small Org.  Many are very impressed we are able to maintain our facilities and equipment as well as we do and maintain a positive balance.  That "Positive Balance" is the result of years of wise spending and careful management by the Board Members. 
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Offline Michael

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Re: Looking for tips again..... this time about treasurer
« Reply #13 on: March 07, 2018, 01:51:51 PM »
Why do you think that is important? 

My take as a Board member is that I am not opening up the books to everyone so that we can have arm-chair questioning of every little thing.  If you want to see what we do and where the money goes, then join the Board and get involved.  If you want to nitpick without any investment of your time, then keep it to yourself.

If it's a non-profit and they're able to vote for board members, then they are already involved.

If someone questions something and the board considers it minor, then everyone should be able to see that the board considers it minor.

Or you could just include exactly that language in the sign-up materials: "We are not opening up the books to everyone so that we can have arm-chair questioning of every little thing.  If you want to see what we do and where the money goes, then join the Board and get involved.  If you want to nitpick without any investment of your time, then keep it to yourself."

That's transparency, too.

But I am sure that in numerous cases, supposed "nitpicking" has exposed major fraud.
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Offline mahonz

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Re: Looking for tips again..... this time about treasurer
« Reply #14 on: March 07, 2018, 01:59:56 PM »
Why do you think that is important? 

My take as a Board member is that I am not opening up the books to everyone so that we can have arm-chair questioning of every little thing.  If you want to see what we do and where the money goes, then join the Board and get involved.  If you want to nitpick without any investment of your time, then keep it to yourself.

Valid.

The Orgs I have been a part of allow one rep per team to sit in on any Board Meeting and that rep gets a full printout every month for all accounting. Too me that is being transparent. ANd yes there have been some discussions/ debates on how some of the money gets spent.

This team rep also carries one vote so the teams vote on the issues. The Board only votes in case of a tie after giving input on the issues via Q&A periods.

If the Board is a closed off entity and makes all decisions exclusively.... that would make me itch.
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