- General Duties
- To collect, deposit and expend funds for the chapter as requested and authorized by the president.
- To maintain chapter financial records in a complete and accurate method. A simplified single entry bookkeeping system has proven sufficient for most chapters and groups. The treasurer should balance the accounts each month and ensure that all documentation for income and disbursements is kept in order.
- To prepare mid-year financial reports. Reporting forms are distributed by the association office. The financial report must be prepared for any chapter unit that has funds. Completed forms must be submitted to the Assistant Executive Director, Finance and Administration at the association office by June 30.
- To prepare, sign and submit an audited annual financial statement for each fiscal year ending December 31. Forms will be sent to each chapter treasurer by the association office. The completed form must be submitted to the Assistant Executive Director, Finance and Administration at the association office by January 31. Each chapter's annual financial statement must be certified as to its accuracy by an auditor appointed by the chapter president. The auditor must be a disinterested third party, i.e. not a member of the chapter or SLA Board of Directors, and not an employee or supervisor of the treasurer. The auditor should examine carefully all bank transactions, inspect bank statements, match cancelled checks to invoices, and check the accuracy of the addition and subtraction of the statements themselves. The money reported on hand on the opening day of each fiscal year, must agree exactly with the amount reported for the closing day of the previous year.
- Other Financial Information
- Allotment funds, based on membership dues, are determined annually by the Board of Directors at their fall meeting. Allotments are calculated using the membership count for the chapter as of December 31, and distributed in March.
- The fiscal year for the association and chapters is January 1 through December 31.
- Mid-year financial statements must be submitted by June 30.
- SLA's federal employer I.D. number is 13-5404745
- Bank accounts must have at least two signatories.
- SLA is a not-for-profit organization as defined under Section 501(c)(3) of the Internal Revenue Code.
- The policy statements in section VI. of these Guidelines should be reviewed each year.
For additional information see the Tax and Legal Handbook.
- Fund-Raising
The chapter treasurer maintains all financial records for the chapter. The following duties are assigned to the treasurer:
For more detailed information contact the assistant executive director of financial services of the association office.
Before you undertake any fund-raising efforts, clarify why you need the money; then determine how much outside funding is required, and how soon it is needed. Remember, too, the membership must support the project -- it must be worth the investment of time and money. Further information on identifying resources, recruiting volunteers, special events and projects, proposal writing, and tax and legal implications of fund-raising, see the Fund-Raising Handbook, section IX. "Chapter Finances" and section X. "Legal Issues" of these Guidelines.
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