Chapter Treasurer
From AFSWiki
AFS-USA Position Description
Contents |
Chapter Treasurer
The treasurer of an AFS chapter is responsible for the proper handling and reporting of funds raised and spent by the chapter in accordance with the volunteer guidelines.
Responsible to:
- Chapter Chair, Team Treasurer and AFS-USA Field Finance Department
Time required
- 3 to 5 hours per month
- Length of service time: 1 year minimum commitment
Competencies Required
- Well organized
- Keeps commitments
- Passion for the AFS mission
- Comfortable working with numbers
Training
- Ongoing support from AFS-USA Field Finance Department
- Peer-to-peer training and/or mentoring available
- Chapter Treasurer Webinars
Responsibilities:
- helping to develop a local budget
- maintaining records of income and expenses
- reporting income and expenses to the National Service Center to meet IRS and auditors' requirements
- making sure bills are paid in a timely fasion
- depositing excess funds (above and beyond what is needed to maintain healthy chapter activity) at the AFS National Service Center
- preparing and submitting the annual Chapter Financial Report to AFS-USA as requested.
In many smaller chapters, the treasurer is also the fundraising coordinator and helps plan activities for the chapter to support programs and activities which are relevant to the needs of the chapter, school, and community (e.g., short-term exchanges, international nights, assistance to hosted participants, Scholarships for Sending, etc.).
Chapter Fund Transactions
Chapters typically have an account at the AFS National Service Center. They receive interest, compounded monthly, on all monies on deposit. Interest rates will vary according to current market yields. All funds in excess of day-to-day operating expenses should be kept in the National Service Center account. To deposit funds with the National Service Center, simply send a check, made payable to AFS-USA, Inc., along with a completed chapter transaction form to the Chapter Finances Department. To withdraw funds, the chapter coordinator or treasurer submits a chapter transaction form to the Chapter Finances Department, requesting a specific amount, and stating the intended use of the funds. Due to auditing requirements, AFS is unable to honor telephone requests.
Funds may be transferred from your chapter account to pay sending program fees as designated by the Chapter Coordinator or Treasurer. This can be done by returning the pledge notice coupon with a notation, or submitting the chapter transaction form indicating the name and ID number of the participant(s) and the amounts to be transferred from the account for each.
Chapters with excess funds on hand can, and are encouraged to, assist other chapters in their area with scholarship assistance. If your chapter wishes to donate funds to another chapter, to an area scholarship pool, or to the general national scholarship pool, contact National Service Center or Regional Office Coordinator who can help you make those arrangements.
Volunteer Guidelines specific to financial transactions
- Chapter and Area bank accounts shall require two signatures plus AFS Representative (Jorge Castro), with neither of the signatories being related by birth or marriage. Dual signatures shall be required for withdrawals in excess of $1,000.
- Each AFS Chapter and Area shall maintain accurate records of income and expenses and must submit required reports as outlined by the AFS-USA Accounting Department in the treasurer manual.
- All funds raised in the name of AFS must be used solely for the purpose of the support of AFS programs and participants.
- When an AFS Chapter deactivates, or becomes by definition defunct by not having hosting, sending or volunteer development activity within a two year period, and/or fails to file a financial report, the remaining funds on deposit both locally and nationally must be turned over to the National Service Center.
High School Club Finances
In many cases, AFS Club funds are kept in the high school activity club account which is reported under the high school’s tax identification number. The AFS faculty advisor or other AFS volunteer should supervise the account along with an adult chapter officer (if available). AFS Clubs that do not have a local bank account are not required to file a Chapter Financial Report, but should submit a Bank Account Form to report the status of the club’s account, the high school tax identification number, and amount being held.
If the high school only has an “International Club” and not an AFS-specific club, any club funds raised in the name of AFS should be moved to a local AFS chapter's bank account or to the National Service Center to ensure the funds are being used for AFS purposes only. AFS volunteers should be the only signatories on these accounts. An International Club may not raise funds in the name of AFS (editor's note: although it's copied directly from the official Local Team Operations Guide, the preceding sentence appears to contradict the first sentence in the same paragraph. Someone should get a clarification from New York and edit appropriately) . If an AFS Club is inactive or defunct, the funds should be sent to the National Service Center.
