Co-Chair Cleve Steward
Budget and Finance CS
The Budget and Finance (B&F) Committee will consist of the Chair, the co-chairs of the Local Arrangement Committee, the chair of the Fundraising Committee, the treasurers of the Western Division and the Washington/BC Chapter, and others as needed. The B&F committee will be responsible for all funds received and expended before, during, and after the convention.
- Assure that AFS fiscal policies and procedures are implemented and followed.
- Assure that “sales-tax-exempt status” is obtained (is this automatic since this is an AFS event, or do we need to do something specific us?)
- Coordinate the preparation of the budget for the AFS 2011 meeting that will be presented to the parent AFS committee August 2010. In doing this, gather information on anticipated costs from each subcommittee chair to ensure that all costs are accounted for in the proposed budget.
- Meet with the LAC co-chairs and other committee members on a regular basis to compile financial status reports and review handling of conference revenues and expenditures. This includes reconciling bank statements with our conference budget database
- Prepare detailed analyses of revenue and expenditures based on the information provided by the bookkeeper. Reports should be made for August and December 2010, and at monthly intervals thereafter until all meeting financial obligations have been met.
- At the direction of the LAC co-chairs, execute financial transactions, issue receipts, etc.
- Communicate all monetary and material contributions to the LAC co-chairs and LAC committee to ensure that sponsor participation is properly recognized. (How will this be recorded and entered into the bank accounts so that I can keep track of this? Will the chair of the Fundraising committee be providing this information to the bookkeeper? Or to me, or to…?)
- Maintain the necessary cash boxes and the change needed during the meeting.
- Arrange for a safety deposit coax at the meeting facility.
- Present a financial statement to the LAC C0chairs upon completion of all transactions within 30 days after the close of the meeting, indicating all revenues and expenses by category.
- Work with LACs to establish accounting procedures to be used by all committees and subcommittees of the 2011 planning committee.
- The LAC co-chairs and the Budget and finance subcommittee chair will be authorized to sign checks.
- Any expenditures of greater than $100 must be approved by one of the LAC co-chairs; expenditures greater than $500 must be approved by both LAC co-chairs. (how will this approval be documented?)
- All receipts should be submitted to the LAC co-chairs or the B&F chair in a prompt manner to be verified and then submitted to the bookkeeper for entry to the budget database.
- The bookkeeper will maintain a notebook of all receipts and will enter all income and expenditures into the database.
