Treasurer

SUGGESTED ADDITIONS IN RED, SUGGESTED DELETIONS STRIKETHROUGH

A. Custodian of monies/securities. The Treasurer will have custody of all operating monies and securities of the Corporation.

B. Bond may be required. The Treasurer shall, if required by the Board, give bond for faithful discharge of duties in such sum and with such surety or sureties as the Board shall require, the cost of the bond with surety being paid for by the Corporation.

C. Duties. The duties of the Treasurer include:

Ø  Signing checks of the Corporation, except those monies controlled by the Finance Committee (NOTE: the President also has signature rights for corporate checks.) (The Board may assign others as signatories as well.)

Ø  Keeping regular books of account and submitting them, together with all vouchers, receipts, records, and other papers to the Trustees for their examination and approval as often as the Trustees may require;

Ø  Submitting updated financial reports to the Trustees at their regular meetings, and submitting an Annual Financial Report to the Membership at the Annual Meeting

Ø  Performing all such other duties as are incident to the office; and

Ø  Maintain adequate insurance on the OLT facility, volunteers and Board of Trustees.

Ø  Selecting (with board approval) an outside CPA or other financial professional and working with that person to:

(a) Submit required financial reports and forms to the IRS (990), State of Washington or other outside governmental agencies.

(b) Assure adequate review and controls over theater income & expenditures

Ø  Coordinating activities associated with tickets and special performances, including managing the activities of the Tickets Coordinator and Special Performances Coordinator.

(a) Tickets Coordinator: The Tickets Coordinator must be a person other than the Treasurer, and if not a member of the Board, is required to attend Board Meetings at the conclusion of the run of each play. The duties of the tickets coordinator include:

Ø  Supervision of preparation and distribution of tickets to season ticket holders and the ticket outlet; and

Ø  Delivery of receipts to the Treasurer.

(b)  Special Performances Coordinator. The Special Performances Coordinator is responsible for coordination, documentation, and collecting of monies for all special performances.

Task List:

OLYMPIA LITTLE THEATRE TREASURERS task list (updated 6/09) TCH

DAILY
1. Check USPO mail, sort for incoming checks & bills, distribute any other mail to addressees or appropriate recipients.
2. Open ticket orders, copy checks, tally and log. Write on account name or another other notes for any complicated income, give to Admin. Asst.
3. Go over any bills, reconcile statements with outstanding invoices, call vendor with any questions or errors.
4. Answer any inquiries about financial issues.
WEEKLY
1. Go to OLT, collect any reimbursement requests not mailed, drop off any income and mail for others.
2. Pick up file of week's deposits and compare with your list of incoming checks.
3. Pay bills - Enter any expenses into QuickBooks, print checks, mail checks and attach stubs to bills, give to Admin Asst. to file, making notes of anything complicated.
4. Transfer funds between checking and money market savings, as needed, to keep the highest reasonable balance in the higher interest accounts while maintaining an adequate balance for current expenses.
MONTHLY
1. Preparation of Treasurer's Reports
(a) Print draft financial statements and "reality check" (look for any items obviously misplaced or that look out of normal, print detail on those accounts.)
(b) Review financial statements and make corrections
(c)Print and assemble copies for Board and Admin Asst. for minute book. Supplies copies to Admin Asst. for any member request.
(d) Write Treasurer's report for Board Meeting
2. Create updated donor reports for Donations
(a) Print update of lobby poster of current donors, General Fund and Raise the Roof.
(b) Transfer information to current show's program's designer for inclusion in program
3. Print list of any new membership payments received and send information to Membership Coordinator.
4. Reconcile & pay American Express bill. Print confirmation and give to Admin Assist. to file with bill and receipts for that periods Amex bill.
QUARTERLY
1. Coordinate with CPA to reconcile checking, savings and investment accounts. Investigate any discrepancies, make corrections
2. File reports and pay quarterly state and federal payroll taxes.
3. Make any adjustments required in QuickBooks for payroll taxes
4. Check balances on USPO bulk mail account and return postage due accounts, deposit more as needed.
5. Transfer amount of total of Raise the Roof (RTR) donations for the quarter to the RTR savings account. Note transfer in Quick Books, copy of confirmation to Admin Assist to file.
6. Transfer any other restricted gifts (such as to endowment or facilities funds.
ANNUALLY
1. Go over books, opening and reviewing each income and expense account, in detail, looking for discrepancies, mis-assigned charges or donations, etc.
2. Meet with CPA for any questions, end of year adjustments to both regular and investment accounts, preparation of IRS 990.
3. File IRS 990 Due October 31st
4. File State of Washington Annual Corporate Renewal due ____
5. File State of Washington Charitable Solicitations Organization Renewal Due May 31st
6. File Thurston County Property Tax Exemption request (for our 2 parcels) Due March 31st
7. Renew USPO bulk mail permit Due August 1st
8. Prepare end of fiscal year Financial Report for members for presentation at Annual Meeting
9. Prepare budget for presentation to Board, on approval, make any changes and enter into Quick Books.
PERIODICALLY
1. Fundraising
(a) Prepare appeals to current and new members
(b) Assist in 'curtain speech" preparation
(c) Research and track possible funding sources and attend any seminars, or information workshops
(d) Coordinate grants or other funding applications.
(e) Make sure Thank You letters to donors are being sent by Admin Asst.
(f) Arrange recognition for any large donations
2. Purchasing
(a) As equipment, software or other items as needed, get general pricing ideas and present proposals to Board for approval
(b) Assist others with above
(c) Identify vendors, negotiate, price and terms
(d) Arrange payment
(e) Keep current "tax exempt forms" for purchasers,
(f) Maintain a list of places that already have on file our tax exempt certificates
(g) Keep current lists of authorized purchasers, resolve any issues with vendor accounts.
3. Support productions
(a) Work with directors, stage managers, crew to make purchases

(b) Provide producer, director or stage manager with current account of expenses.
4. Convene Finance Committee to review theatre’s investments at 2-3 times a year.
5. Other Duties as needed.

Last revised 11/12/2010