guidelines for divisional treasurers
DESCRIPTION
Presentation given by Helen Thomas, former Associate Treasurer, at the Activists' Training Day in Newcastle, 19.5.09TRANSCRIPT
Guidelines for Guidelines for Divisional TreasurersDivisional Treasurers
19th May 2009Northumbria University, Newcastle
Session ContentSession Content
Rules and RegulationsAccounts and Transaction SchedulesRecord KeepingVAT ReturnsExpensesAuditors / Independent ExaminersTop-up payments / CILIP Reserves Policy
Rules and Rules and RegulationsRegulations
Relationship to CILIP
Branch and Group Rules
Charitable Status
Rules and Rules and Regulations – Regulations – relationship to relationship to CILIPCILIPAll groups are part of
CILIP
Must account for all assets/liabilities
Same legal identity◦313014◦GB 233 1574 87
Rules and Rules and Regulations – Regulations – Branch and Branch and Group RulesGroup Rules
Treasurer’s responsibility:
Accounts
Annual General Meeting
Solvency
Rules and Rules and Regulations – Regulations – Charitable StatusCharitable Status
“Registered Charity No 313014”
Include onAdvertisementsChequesInvoicesOrders for GoodsReceipts
Accounts and Accounts and Transaction Transaction SchedulesSchedules
Accounts◦ Cash book
◦ Bank Reconciliation
◦ Income and Expenditure
Transaction Schedule
Record keepingRecord keepingSet aside time each month to update your accounts
- Add transactions to the Cash Book
- Reconcile the Cash Book balance with the Bank Balance
VAT – what to VAT – what to includeincludeVAT invoices to include
- An identifying number- Group name & address- Date of supply- Customer’s name and address- Description of goods supplied- Net value of goods- VAT charged
VAT – what to VAT – what to chargechargeOutput VAT of 15% is
chargeable on
Income from conferences
Royalties receivedSponsorshipAdvertisingSubscriptions
VAT – what to VAT – what to claimclaimVAT on expenses can
be reclaimed…
To do this you need to keep VAT receipts
ExpensesExpensesExpenses are normally for
Small purchases
Subsistence
Travel◦Mileage◦Train tickets
ExpensesExpensesExpenses should only be paid after a completed
Expenses Claim Form
has been submitted…
with receipts!
Auditors / Auditors / Independent Independent examinersexaminers
Accounts have to be audited.
2 examiners should be- independent of the
committee- appointed during AGM
- Do NOT have to be qualified accountants
TimescaleTimescale
Jan – submit Q4 VAT return
– submit annual accountsApr – submit Q1 VAT return
– submit audited accountsMay – receive capitationJuly – submit Q2 VAT returnOct – submit Q3 VAT return
Top-up paymentsTop-up paymentsCapitation no longer
provided (since 2009)
Top-up payments - only awarded if Divisional Finances are below £1,000 threshold
Transferred directly into Divisional Bank Account
Any questions?