CHAPTER PLAYBOOK

Chapter Treasurer

Each Chapter should have a Treasurer who is entrusted with the day-to-day duties of managing the Chapter’s financial matters. The Chapter Treasurer oversees accounting and reporting of all financial transactions conducted by the Chapter. A Chapter may assign one or more committees/Chapter leaders to assist the Chapter Treasurer in carrying out their duties. This position can also be combined with the Chapter Secretary position. Key responsibilities of the Chapter Treasurer as applicable to each Chapter include:

1. Ensure that the Chapter is operating with sound business practices. 
2. Oversee the budget and the investments and work with board on building budgets.
3. Responsible for overseeing the Chapter’s financial obligations and reporting to the board on financial matters. A report and financial statements should be prepared for all meetings.
4. Pay Chapter bills.
5. Maintain Chapter financial records and receive/disburse Chapter funds as authorized by the board.
6. Make financial records available to the Chapter auditor and submit independently reviewed financial reports to NAIFA as required.
7. Reconcile the Chapter’s bank balance.
8. Arrange for annual audit or financial review.
9. Ensure proper segregation of duties and other internal controls for managing the Chapter’s financial assets are in place and operating.
10. File the required financial documents with the appropriate legal entities or taxing authorities of the country (such as the United States Internal Revenue Service (IRS)).
    1. Form 990—due May 15.
    2. Form 1099 MISC—due January 31 to Chapter vendors and to the IRS with form 1096 if filing a paper version.
    3. For W-2—due January 31 to Chapter employees and the social security administration.
11. Ensure that the Chapter budgets for, and mail in, its annual per capita administrative contribution to IFAPAC.
12. The Chapter Executive Director may carry out many of these responsibilities if they are specified in the Executive Director's job description.

• Decision Making
• Financial Management
• Problem Solving
• Business and Operations Management
• Patience
• Planning
• Conflict Resolution
• Leadership Development