Finance Committee

Finance Committee Charter

Committee Chair:

Craig McColskey
jcraig09@bellsouth.net

Purpose:

The Treasurer is responsible for handling the finances of the area Council.

  • Treasurer will retrieve emailed membership list from the Jacksonville Chamber of Commerce atleast 24 hours before the luncheon.
  • Obtain $500 in petty cash prior to luncheon. Recommend the following breakdown of cash: $100 - $20s, $200 - $10s, $150 - $5s, and $50 - $1s.
  • Arrive at lunch by 10:50 am.
  • Verify supplies in the Treasurer bag: pen's, lunch receipts, blank name tags, credit card receipt tape, and 50/50 tickets.
  • Set up credit card machine using instruction maintained in the credit card folder witin the bag.
  • By 11am : Two Treasury Committee Representatives should be set to begin receiving members or guests. Setup money, membership list and 50 /50 tickets (3 for $2.00) will be ready.
  • As each member of the South Council pays, check them off the membership list.
  • Members/guests paying with credit card will receive a cc receipt. Treasurer will retain signed copy.
  • New Members joining the South Council will be charged an annual membership fee of $35.00. If the membership fee is paid via credit card, the Treasurer will provide $35.00 in cash to the New Member Representative (Kelli Lemire, which is sent to the Jacksonville Chamber.
  • Once all members and guests have been checked in the Treasurer will count the 50/50 tickets that were sold. Half of the funds will be deposited into the SC checking account, and half will be given to the winner of the 50/50 drawing.
  • Head Count will be taken by a member of the Treasury Committee.
  • A receipt to pay for lunch will be provided to the Treasurer by Carrabba's
  • Payment to Carrabba's will be provided in the form of $300 cash, with the remainder paid via check. The amount collected for 50/50 along with the amount of cash given to the Carrabba's staff should be written on the check register for audit purposes.
  • Treasurer will pack up equipment and credit card machinery.
  • Deposit remaining cash and checks received into Regions Bank.
  • Credit card machine sales will be batched and sent to Heartland Payment Systems for processing. Use instructions included in folder maintained in the Treasurers bag. A dedicated phone line, typically used for a fax machine, should be used to transmit the batched credit card sales to Heartland.
  • Obtain monthly bank statement from Regions Bank. Make notes pertaining to deposits and checks written during the month. Scan the statement and send to Adam Robinson with Patrick & Robinson CPA.
  • The Accountant will prepare the monthly financials to be shared with the Board at the next Board meeting.
  • Maintain South Council checkbook. Document all payments fully on the check register