Safe Amplification Site Society
Policy Document #1: Treasurer Procedure Manual
Adopted June 7, 2010
Amended November 2, 2011
- Things you need to get from the previous Treasurer:
- Computer folder containing incoming and outgoing digital receipts – save it in a Treasurer folder.
- VanCity debit card and PIN – keep the card in a safe place. Change the PIN at VanCity if necessary.
- Cheques – keep them until needed.
- Folder containing all VanCity info including passwords and statements – keep this somewhere and add new statements, deposit slips, etc. as they arrive.
- Folder containing old cash record sheets.
- Folders containing tax info from previous years – keep these somewhere safe until the next tax time.
- Folder containing all Safe Amp paper receipts – keep this somewhere safe and add any new receipts that arrive.
- Login and password for our PayPal account – change the password online if necessary.
- Be authorized by VanCity as having signing power – the old treasurer will have to bring the new treasurer and anyone else with signing power to VanCity to set this up.
- Change VanCity mailing address to the new Treasurer’s house – this can be done over the phone or in person at VanCity.
- Access to the Google Document – the old treasurer has to give permission to edit the Safe Amplification Site Money Google Document.
- Google Document: We keep all our financial records on a Google Document. Our website is set up to automatically display some of this information for the public to see at www.safeamp.org/finance.html. From time to time, please export an electronic copy of the document – this will serve as a backup in case something goes wrong with the Google Document.
- How much? In this column, record the amount of the transaction. Put a minus sign in front of it if it was an expenditure. This column is visible to the public on our website.
- Into what account? In this column, note which account the money went into. If it was an expenditure, note which account the money came out of. This column is not visible to the public on our website.
- When? In this column, note the date of the transaction (not the date you processed it). This column is visible to the public on our website.
- What? In this column, write what the transaction was. Currently, we are listing all fundraising activities as donations, because we are unclear on what income our current business license allows us to receive. This column is visible to the public on our website.
- Who? In this column, note who gave us the money or who we gave money to. If you don’t know where the money came from, write unknown. If the money came from a variety of sources, write various. You could also put other important info here that you don’t wish the public to see. This column is not visible to the public on our website.
- How? In this column, note how the money was given to us (eg: cash, cheque, direct deposit, PayPal, etc.) This column is not visible to the public on our website.
- Receipt? In this column, note whether or not we have given or received a receipt for the transaction. If a receipt is not necessary, write no. If a receipt is necessary but we don’t have it yet or haven’t sent it yet, write not yet. If a receipt has been given or received, note whether it was a paper receipt or e-mailed digital receipt. This column is not visible to the public on our website.
- New Cash Balance. In this column, write the new balance of the cash account AFTER the transaction is complete. If the transaction involved the cash account, this number will be different from the line above, but if it didn’t involve the cash account, just copy and paste the amount from the line above. This column is not visible to the public on our website.
- New Chequing Balance. In this column, write the new balance of the chequing account AFTER the transaction is complete. If the transaction involved the chequing account, this number will be different from the line above, but if it didn’t involve the chequing account, just copy and paste the amount from the line above. This column is not visible to the public on our website.
- New PayPal Balance. In this column, write the new balance of the PayPal account AFTER the transaction is complete. If the transaction involved the PayPal account, this number will be different from the line above, but if it didn’t involve the PayPal account, just copy and paste the amount from the line above. This column is not visible to the public on our website.
- New VanCity Shares Balance. In this column, write the new balance of the VanCity Shares account AFTER the transaction is complete. If the transaction involved the VanCity Shares account, this number will be different from the line above, but if it didn’t involve the VanCity Shares account, just copy and paste the amount from the line above. This column is not visible to the public on our website.
- New Total Balance. In this column, write the new total balance of all Safe Amp accounts combined. It will always be the amount of the New Total Balance on the line above plus or minus the amount of the transaction in the first column. This column is visible to the public on our website. Feel free to use a spreadsheet formula to automatically tally this amount.
- Public Financial Statement. At the bottom of the Google Document you’ll notice tabs for Full Financial Statement and Public Financial Statement. You can toggle between the two versions of the spreadsheet by clicking on those tabs. Always make all additions on the Full Financial Statement. The Public Financial Statement automatically copies information from the Full Financial Statement so you don’t need to update it separately. The Public Financial Statement is what is visible on our website – only certain columns are included.
- Cash Account. This ‘account’ is a large ziplock bag full of cash that the Treasurer keeps in a safe place. Inside the bag, there are smaller bags for each type of coin and bill, a stack of empty coin rolls.
- Adding New Cash to the Cash Account: Whenever new cash comes in, sort the different denominations of coins and bills into the different bags. Record the transaction on the Google Document.
- Rolling coins. When a bag of one particular type of coin is starting to get full, roll the coins into a roll so they can be deposited into our chequing account. Coin rolls are available from VanCity at no charge.
- Spending money from the cash account: If you spend money from the cash account or reimburse someone else using money from the cash account, record the transaction on the Google Document.
- Floats: Keep approximately $100 worth of five dollar bills in the cash account at all times and when necessary, bring it to Safe Amp events to use as a float.
- Depositing money out of the cash account into the chequing account. Whenever the cash account becomes larger than necessary, deposit some money into our chequing account. Bills can be deposited into a bank machine using our debit card. To deposit rolled coins, a VanCity teller is required. In the Google Document, record a deposit as follows: How Much? $0. Into what account? Chequing. What? Account transfer. Who? [Amount deposited from Cash account to Chequing account]. How? Cash deposit. Receipt? Yes – print (put the deposit slip in the receipts folder). New Cash Balance: [old cash balance minus the amount deposited]. New Chequing Balance: [old chequing balance plus the amount deposited]. New Total Balance: [exact same as the amount on the line above].
- Inventory. Every so often, count the money in the cash account to make sure it matches the New Cash Balance on our Google Document.
- VanCity Chequing Account. This is where we keep most of our money.
- Depositing money into the Chequing Account. For info on depositing cash, see 3e (depositing money out of the cash account into the chequing account). To deposit cheques or money orders (payable to Safe Amplification Site Society), deposit them at a VanCity bank machine using our debit card and record the transaction on the Google Document.
- Monthly statements and interest. Every month, the Treasurer will receive a bank statement in the mail from VanCity. Check to make sure the amount on the statement matches the latest New Chequing Account Balance on the Google Document. Also be sure to note the interest received each month and record it in the Google Document as a transaction on the date the interest was paid (the last day of every month). We have a no fee account, and there shouldn’t be any fees on our statement – if any fees are charged, please call VanCity for an explanation.
- Using the debit card or withdrawing money from the Chequing Account. The Treasurer can spend Safe Amp money using our debit card – just record it as a transaction in the Google Document. If for some reason there isn’t enough cash in the cash account, the Treasurer can make a withdrawal from the Chequing Account using the debit card. Record it in the reverse manner of how you would record a deposit: How Much? $0. Into what account? Cash. What? Account transfer. Who? [Amount withdrawn from Chequing account to Cash account]. How? Cash withdrawal. Receipt? Yes – print (put the withdrawal slip in the receipts folder). New Cash Balance: [old cash balance plus the amount withdrawn]. New Chequing Balance: [old chequing balance minus the amount withdrawn]. New Total Balance: [exact same as the amount on the line above].
- Writing Cheques. The Treasurer can write cheques if necessary. If you do write a cheque, record it as a transaction in the Google Document. List the date written on the cheque, regardless of when it was actually processed by the bank. If Safe Amp runs out of cheques, the Treasurer should order more from VanCity (try to convince them to give them to us for free).
- VanCity Shares account. We were required to buy a five dollar VanCity share when we opened our chequing account. This is listed as a separate account on our Google Document because it’s listed as a separate account on our bank statements. At one point, the value of our share increased to $5.05; this was logged as a dividend on our Google Document. If the share changes in value again, record it in the same way.
- PayPal. We have an online bank account with paypal.com.
- Accepting money via PayPal. There are instructions on our website to donate using PayPal, and from time to time, people do. When this happens, record it in the Google Document like any other transaction, and send a receipt to the payer (it’s better to use a normal Safe Amp receipt than any kind of fancy automatic PayPal receipt). PayPal takes a fee from every transaction, so in the How Much column, be sure to record the actual amount we received rather than the amount the person spent. In the What column, write the amount the person spent minus the PayPal fee (eg: How much? $9.25. What? Membership Fee $10 minus PayPal fee $0.75). PayPal automatically emails treasurer@safeamp.org whenever a transaction comes through, so the PayPal account does not need to be checked on a regular basis. However, this email does not always explain what the money is for; if this is unclear, contact the Secretary, Communications Officer or other directors to determine its usage (membership fee, donation, etc.). As a last resort, ask the person who paid the money, and if it’s still unknown, list the income as a donation.
- Spending money via PayPal. Safe Amp can purchase things online using the money in our PayPal account. List this in the Google Document like any other transaction.
- Transferring PayPal money to our chequing account. If there is an excess of money in our PayPal account, transfer it to our chequing account. There are instructions on PayPal that explain how to do this. Record it in the Google Document like any other account transfer (ie: How Much? $0).
- Transferring money into our PayPal account. If we decide to pay for something online using PayPal but need more money in the PayPal account in order to do so, it will be necessary to transfer money from our chequing account into our PayPal account. There are instructions on PayPal that explain how to do this. Record it in the Google Document like any other account transfer (ie: How Much? $0).
- Temp accounts. Sometimes it may be necessary to create a ‘Temp Account.’ This is needed primarily when someone buys something for Safe Amp but uses their own money to do so and does not wish to be reimbursed for it. In this case, list two separate transactions in the Google Document.
- The first transaction is a donation from the buyer: How Much? [amount of the donation]. Into Which Account? Temp [and the person’s name]. New Total Balance: [amount of the donation plus previous balance].
- The second transaction is an expenditure of the same amount: How Much? [negative the amount of the donation]. Into Which Account? Temp [and the person’s name]. New Total Balance: [the amount from two lines above].
- Virtual accounts. From time to time it may be necessary to create a ‘virtual account.’ This could done to keep a certain amount of funds (such as a grant that must be spent on particular things) separate from the rest of our money. Even if the money is in the same actual chequing account, it could be listed separately in the Google Document in order to keep track of how that money is being spent.
- Incoming Receipts
- Paper Receipts. Whenever a paper receipt arrives for money that Safe Amp has spent, put the receipt in the receipts folder.
- Digital Receipts. Whenever an electronic receipt arrives for money that Safe Amp has spent, save it on computer in the Incoming Receipts folder.
- Outgoing Receipts. Any time someone gives money to Safe Amp, the treasurer should send them a receipt (unless the person says they don’t want a receipt or the source of the money is unknown or various). To save paper and money, just email the receipts as an attachment. Open the blank outgoing receipt file in the Treasurer folder and save it as a new file name containing the recipient’s initials or other identifying features. Fill in the following sections of the receipt before emailing it:
- Paid to: Safe Amplification Site Society www.safeamp.org.
- Paid by: Write the name of the donor and their postal address or email address.
- Paid with: Write the way in which they paid (eg: cash, cheque, PayPal, etc.)
- Paid on: Write the date of the transaction.
- Item – Amount: Write what each item was for in the left hand side of this table (eg: donation, membership fee, etc.) and the amount of each item in the right hand side of the table.
- Total: Write the total amount of the transaction.
- Invoices. From time to time, we may be requested to provide an invoice for membership fees or services rendered. Open the blank invoice file in the Treasurer folder and save it as a new file name containing the recipient’s initials or other identifying features. Fill in the Item – Amount column as you would for an outgoing receipt, and make sure that the Safe Amp address listed on the invoice is current.
- What to do when we receive money?
- Donation policy. For various reasons, Safe Amp may choose not to accept donations from certain persons or groups. Please refer to Safe Amp’s Policy Document #6 (Accepting Donations) for the relevant details.
- Paperwork. If the income is in accordance with Policy Document #6, send a receipt and record the money in the Google Document as detailed above.
- Donations over $100. If someone donates $100 or more, they have the option of being listed as a past donor on our website. Send the donor an email asking if they would like to be listed. If so, email the Communications Officer with the name of the donor and the amount donated.
- Other Directors. Whenever it’s relevant to them, notify one of the other Safe Amp directors that money has been received. For example, if someone pays $10 for their membership fee, send a quick email to the Secretary saying that that person has paid their membership fee.
- Spending Money. Refer to Safe Amp’s Policy Document #2 (Expenditures) for info on the rules for spending Safe Amp money.
- Taxes. Sometime between January 1 and June 30 of each year, the Treasurer will have to file Safe Amp’s taxes. Refer to past years’ taxes and consult with Revenue Canada if assistance is required. Be sure to keep a copy of everything in our taxes folder for future treasurers to refer to.
- Challenges (as of October, 2011):
- Floating money. One of the challenges of being treasurer is dealing with floating money. People may collect Safe Amp money (eg: they received a donation or sold some merchandise) but forget to give it to the Treasurer right away. Remember that it is the Treasurer’s duty to keep all Safe Amp money; no one else has a right to hold on to Safe Amp money unless they have a specific reason to do so. Be sure to remind them of this and collect all money as soon as possible.
- Improvements. Feel free to make improvements to the way the Treasurer position works; it is constantly evolving to become easier and more efficient. Be sure to update this manual as necessary.
