NBM 2 Finance Com Treasurer duties

NBM 2  MOTION: Move to amend OA Virtual Region Policy Manual 5. Board Members Duties by Position, point 6, by striking and inserting as follows:

 

CURRENT WORDING

5. Board Members Duties by Position

  1. Treasurer
  1. Reports the Virtual Region financial status as follows:
  1. Current balance: monthly to the board.
  2. Last month’s contributions: monthly to the board.
  3. Comparison of actuals to budget: quarterly to the board.
  4. Itemized report showing all income and expenses year-to-date: quarterly to the board.
  5. Contribution details: year to date: quarterly to the board.
  6. Average monthly contributions for the preceding 12 months: quarterly to the board.
  7. Quarterly reports listed above will also be provided for assemblies.
  1. Provides financial information for the annual audit, to be conducted by Virtual Region Chair and the finance committee, within the first quarter of the next fiscal year.
  2. Other duties as assigned.

PROPOSED WORDING

5. Board Members Duties by Position

  1. Treasurer
  1. Reports the Virtual Region financial status of the Region  as follows:
  1. Current balance: monthly to the board.
  2. Last month’s contributions: monthly to the board.
  3. Comparison of actuals to budget: quarterly to the board.
  4. Itemized report showing all income and expenses year-to-date: quarterly to the board.
  5. Contribution details: year to date: quarterly to the board.
  6. Average monthly contributions for the preceding 12 months: quarterly to the board.
  7. Quarterly reports listed above will also be provided for assemblies.
  1. Monthly - Current balance
  1. Quarterly report with year-to-date figures showing:
  1. Itemized Income (including contributions)
  2.  Contributions by month for the preceding 12 months
  3. Expenses
  4. Comparison of actuals to budget
  1. Quarterly reports will also be provided in the treasurer's assembly report.
  2. Provides financial information for the annual audit, to be conducted by Virtual Region Chair and the finance committee, within the first quarter of the next fiscal year.
  3. Files all required tax returns and related forms with state and federal authorities, as required by law.
  4. Prepares and presents the annual budget in accordance with Article 3: Financial Policies of this Policy Manual.
  5. Administers the Delegate Support Fund in compliance with Article 3: Financial Policies of this Policy Manual.
  6. Other duties as assigned.

SUBMITTED BY:

OA Virtual Region Finance Committee

For the motion maker’s contact details, please email secretary@oavirtualregion.org

INTENT: To bring the policy manual in line with current practice.

IMPLEMENTATION: Update the policy manual.

HOW DOES THIS MOTION SUPPORT OA’S PRIMARY PURPOSE? Updating the duties of the Treasurer ensures a smooth rotation of service and maintains the integrity of the corporation

RATIONALE: Having an outline of duties makes it easier to understand the role and complete all needed tasks.