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Treasurer's Notes


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Club Treasurer

  • Appointed from within the club
  • Should have good communication skills and be good with numbers
  • Elected at Special General Meeting held in December preceding year of appointment

Records

  • Separate bank accounts are needed for
    • General purposes - Club Funds
    • Charitable funds - The Charity Trust of R C of …………
  • Cheques drawn on either account should require a minimum of TWO signatures

Clubs own Budget and Capitation

  • Club Treasurer prepares and agrees with Club Council
  • Following Council approval budget is presented to Club members at AGM for adoption
  • Budget establishes club's capitation for the following Rotary year
  • Round sum honoraria should be avoided unless supported by a schedule of what the sum is deemed to cover. This avoids any PAYE problems
  • It is Club Council's responsibility to "own" the club capitation budget and to keep within it
  • It is the Service Committee Chairman's responsibility to "own" the club Charity budget and to keep within that.

District Capitation

  • 1060 capitation is prepared by District Finance committee is then reviewed by District Executive and then presented to District Council for adoption.
  • Capitation is due 1st July for ensuing Rotary year.
  • All payments to District should be made by 14th August (six weeks after start of year)
  • Additional sums are due with this payment to cover new members in the previous Rotary year. A quarter by quarter return is required.

RIBI Capitation

  • Due in two half yearly instalments - July and January
  • Additional sums are due with the first payment to cover new members in the previous Rotary year. A quarter by quarter return is required.

Rotary Club Accounts

  • These are prepared by the Treasurer for both Club funds - General purpose and for Charity Trust
  • Accounts are prepared for the Rotary year ended 30th June
  • Accounts should be reviewed either by a professional accountant or by a suitably qualified person
  • Treasurer presents the club's annual accounts to members at Special General meeting held in December following Rotary year
  • When members have approved the accounts the accounts are to be signed by the current President.
  • A copy of the approved accounts for both General Purposes and Charity Trust are to be forwarded to the District Treasurer together with a statement that they have been reviewed in accordance with Standard RIBI By-Law 4

Club Events

  • A responsible club member should be appointed to control each club event.
  • They should control all costs and cash collected and then account to the Treasurer for the event.
  • Great care should be taken to ensure that Charity events are NOT run at a LOSS

Gift Aid payments

  • All cheques and cash collected on behalf of a charity where GIFT AID is to be claimed must be carefully controlled.
  • Use either special envelopes provided by the charity or a specially prepared form
  • The rotary club can only reclaim Gift Aid on donation made to the Charity Trust of the Rotary Club of ………. (……….. Rotary Club Charity Account)
  • Payments made by individual Rotary Clubs to District CANNOT be gift Aided.

VAT

  • District 1060 is NOT VAT registered.
  • It is unlikely that any individual Rotary Clubs will be VAT registered
  • Individual Rotary Clubs undertake the organisation of District functions such as District Handover so that District does not have to VAT register

District events

  • Where your club has been selected and agreed to run a district function it is the responsibility of that club to control costs and income.
  • District DOES NOT underwrite any such event

District Service Committee

  • The Charitable portion of District capitation is passed from General Purposes District funds to Charity Trust and used to finance Service Committee projects
  • Each years’ funds are passed out to the Service Committees intact. Any unspent funds are recovered by General purposes and used to reduce the ensuing years’ capitation.

Payments to District

  • Please make all such payments by CHEQUE.
  • I do NOT want to receive any cash
  • All cheques should be made payable to "ROTARY DISTRICT 1060" irrespective of whether it is for District functions or Charity matters.
  • Please record on the back of the cheque the purpose for which the cheque is being issued