Finance team duties
Duties of the council or federation finance team
Develop the annual budget engaging other members of the 4-H federation/council, executive board/advisory committee and/or designated subcommittee(s) in the process.
Present the budget to the federation/council for approval at the beginning of the 4-H year.
Determine classes for the budget using the required Chart of Accounts/Class List to ensure easy entry into the financial accounting system.
Accept and receipt cash and checks following stewardship practices.
Complete the transaction forms indicating money received and money paid out, attaching supporting documents.
Pay bills by check from the 4-H account with two signatures on each check.
Deposit all money in a checking account in a local bank.
Write receipts when cash is received for payment of goods/services, donations, group activities and fundraisers.
Reconcile the bank statement monthly.
Maintain financial records on Quickbooks, including entering data, reconciling and running reports.
Complete treasurer report including money received, bills paid, and ending balances in the checking, saving, and investment (CD's, University of Minnesota Foundation).
Present both verbal and written treasurer's report of money received, bills paid, and the ending balance in all accounts at meetings of the federation/council and their executive board/advisory council.
Retain receipts, canceled checks and transaction forms that document the financial transactions of the group.
Prepare for the end of year 4-H financial review.
Review the completed 4-H Federation/Council chartering documents and present the financial report to the federation/council at the end of the year for approval. Turn in the form as part of the chartering process.
Review, sign and mail the final IRS tax form prepared by the University of Minnesota tax management office.
Ensure volunteers with financial responsibilities understand and follow through on practices in their project development committees and/or fundraising committees.
When the youth treasurer and/or adult volunteer advisor changes, work with the individual(s) to change signatures on the signatory card at the bank and ensure a smooth transition.
Ensure there are a minimum of three authorized signatures on the signatory card at the bank for both checking and savings accounts.
Contact
Pat Morreim, program manager, morre002@umn.edu, 763-427-5428