Annual Summary Financial Report and Audit Form

Ingham County 4-H

Annual Summary Financial Report and Audit Form

September 1, 2012-August 31, 2013

Every club must complete an annual summary form. Clubs may choose to complete this form or download the EXCEL spreadsheet from the website at Attach copies of bank statements and club meeting minutes from September 2012-August 2013; if your club’s statements are on file at the 4-H office only attach the statement matching ending balance.

Club Name: ______EIN: ______

Account balance at beginning of year (must match ending balance previous year):$______

Taxable Sales Revenue (products sold-cookbooks, prepared food, etc; must pay sales tax if sales exceed $5000)

Products Sold / Date of Fundraiser / Sales Revenue

Total Taxable Revenue plus $______

Nontaxable Revenue (Grants, dues, fees, etc)

Purpose / Date Received / Amount

Total Nontaxable Revenue plus $ ______

Expenditures

Purpose / Date / Check number / Amount

Total Expendituresminus $______

Account balance at end of yearequals $______

Add back checks that have not shown up on bank statement plus $______

Subtract deposits that have not shown up on bank statement minus $______

Adjusted balance (must agree with bank statement)equals $______

Prepared by: ______Date: ______

4-H Club Audit Review

All 4-H groups must review their financial records once a year (before submitting their Annual Summary Financial Report to the county MSU Extension office). The person who conducts the financial record review cannot be the treasurer, an account signatory, or a parent or guardian of the treasurer or of an account signatory.

Name of club Treasurer: ______

Additional Account signatories: ______

Please answer the following questions regarding this audit:

YESNO

YESNO

YESNO

YES NO

YESNO

YESNO

YESNO

1. When you added up the receipts from the receipt book did the amounts match the bank deposits? If no, were you able to determin reasons for differences? Please explain: ______
2. Were there events that took in cash?

1. If yes, is there evidence of a witnessed cash count by individuals other than the person who made the deposit?
2. Do the witnessed cash counts equal the amounts of the deposits?
3. Do the cash deposits show up on the bank statements?

1. Do the bank deposit amounts match the amounts that show up on the bank statements for each month? If no, were you able to determine the reasons for the differences? Please explain: ______
2. Was the bank account reconciled monthly?

1. Can you compare the reconciled bank account balances to figures in the check register?

1. Were there any cash withdrawls from the bank account?

a.If yes, is there documentation as to why this is legitimate?

b.Are there any other transaction in the bank account that needs further explanation? Please explain: ______

1. Were all expenditure approved either through an approved budget or a vote?

1. Were there expenditures that seemed out of place? If yes, please explain: ______

1. Review the annual financial report.

a.Was Michigan Sales Tax paid if the group sold more than $5000 worth of tangible personal property?

b. Does the annual report reflect all of the fund raising activities that happened during the year?

c.Does it reflect all of the expenditure for the year?

d. Does it reconcile easily to the closing balance of the last bank statement for the year?

The above items are a test of the group’s financial accountability. If the group was not able to pass one or more the tests, please list recommendations for correcting the situation for the future here.

Financial Auditor: ______Date: ______

Approved by MSU Extension: ______Date: ______