OVERDRAFT Treasurers are responsible for overseeing the bank balance and ensuring that there are sufficient funds in the account before issuing cheques. If, for some reason there are not sufficient funds in the community account to cover an invoice which is due, it is up to the treasurer to forward the necessary information to the Finance department and …
FINANCIAL TRACKING & REPORTING BOOKKEEPING There is no pre-set accounting software required to prepare a simple set of books for your club/community account. A simple Spreadsheet or Journal is sufficient. Excel or Lotus can be used with the following headings: For Receipts: DATE, RECEIVED FROM, AMOUNT RECEIVED For Expenses: DATE, CHEQUE #, PAYEE NAME, CHEQUE AMOUNT, …
EXPENSES Expenses incurred by volunteers as they carry out the responsibilities of their position are reimbursable. Please note that only expenses that are indicated on an expense form and approved by the community council as part of a budget submission will be paid back to you. All original receipts should be kept and submitted. *Please note that receipts …
FIDUCIARY RESPONSIBILITY All Treasurers and Signing Officers have a Fiduciary responsibility to SOO. They must act responsibly for the funds that have been raised. All monies raised using the Special Olympics Ontario name belong to the organization and are in trust to the Treasurer and Signing Officers. These volunteers are responsible for ensuring that the funds are used …
