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Guidelines for Divisional Treasurers 19 th  May 2009 Northumbria University, Newcastle
Session Content <ul><li>Rules and Regulations </li></ul><ul><li>Accounts and Transaction Schedules </li></ul><ul><li>Recor...
Rules and Regulations <ul><li>Relationship to CILIP </li></ul><ul><li>Branch and Group Rules </li></ul><ul><li>Charitable ...
Rules and Regulations – relationship to CILIP <ul><li>All groups are part of CILIP </li></ul><ul><li>Must account for all ...
Rules and Regulations – Branch and Group Rules <ul><li>Treasurer’s responsibility: </li></ul><ul><li>Accounts </li></ul><u...
Rules and Regulations – Charitable Status <ul><li>“ Registered Charity No 313014” </li></ul><ul><li>Include on </li></ul><...
Accounts and Transaction Schedules <ul><ul><li>Accounts </li></ul></ul><ul><ul><li>Cash book </li></ul></ul><ul><ul><li>Ba...
Record keeping <ul><li>Set aside time each month to update your accounts </li></ul><ul><li>Add transactions to the Cash Bo...
VAT – what to include <ul><li>VAT invoices  to include </li></ul><ul><li>An identifying number </li></ul><ul><li>Group nam...
VAT – what to charge <ul><li>Output VAT of 15% is chargeable on </li></ul><ul><li>Income from conferences </li></ul><ul><l...
VAT – what to claim <ul><li>VAT on expenses can be reclaimed… </li></ul><ul><li>To do this you need to keep  VAT receipts ...
Expenses <ul><li>Expenses are normally for </li></ul><ul><li>Small purchases </li></ul><ul><li>Subsistence </li></ul><ul><...
Expenses <ul><li>Expenses should only be paid after a completed  </li></ul><ul><li>Expenses Claim Form   </li></ul><ul><li...
Auditors / Independent examiners <ul><li>Accounts have to be audited. </li></ul><ul><li>2 examiners should be </li></ul><u...
Timescale <ul><li>Jan  – submit Q4 VAT return </li></ul><ul><li> –  submit annual accounts </li></ul><ul><li>Apr  – submit...
Top-up payments <ul><li>Capitation no longer provided (since 2009) </li></ul><ul><li>Top-up payments - only awarded if Div...
<ul><li>Any questions? </li></ul>
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Guidelines For Divisional Treasurers

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Presentation given by Helen Thomas, former Associate Treasurer, at the Activists' Training Day in Newcastle, 19.5.09

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Transcript of "Guidelines For Divisional Treasurers"

  1. 1. Guidelines for Divisional Treasurers 19 th May 2009 Northumbria University, Newcastle
  2. 2. Session Content <ul><li>Rules and Regulations </li></ul><ul><li>Accounts and Transaction Schedules </li></ul><ul><li>Record Keeping </li></ul><ul><li>VAT Returns </li></ul><ul><li>Expenses </li></ul><ul><li>Auditors / Independent Examiners </li></ul><ul><li>Top-up payments / CILIP Reserves Policy </li></ul>
  3. 3. Rules and Regulations <ul><li>Relationship to CILIP </li></ul><ul><li>Branch and Group Rules </li></ul><ul><li>Charitable Status </li></ul>
  4. 4. Rules and Regulations – relationship to CILIP <ul><li>All groups are part of CILIP </li></ul><ul><li>Must account for all assets/liabilities </li></ul><ul><li>Same legal identity </li></ul><ul><ul><li>313014 </li></ul></ul><ul><ul><li>GB 233 1574 87 </li></ul></ul>
  5. 5. Rules and Regulations – Branch and Group Rules <ul><li>Treasurer’s responsibility: </li></ul><ul><li>Accounts </li></ul><ul><li>Annual General Meeting </li></ul><ul><li>Solvency </li></ul>
  6. 6. Rules and Regulations – Charitable Status <ul><li>“ Registered Charity No 313014” </li></ul><ul><li>Include on </li></ul><ul><li>Advertisements </li></ul><ul><li>Cheques </li></ul><ul><li>Invoices </li></ul><ul><li>Orders for Goods </li></ul><ul><li>Receipts </li></ul>
  7. 7. Accounts and Transaction Schedules <ul><ul><li>Accounts </li></ul></ul><ul><ul><li>Cash book </li></ul></ul><ul><ul><li>Bank Reconciliation </li></ul></ul><ul><ul><li>Income and Expenditure </li></ul></ul><ul><ul><li>Transaction Schedule </li></ul></ul>
  8. 8. Record keeping <ul><li>Set aside time each month to update your accounts </li></ul><ul><li>Add transactions to the Cash Book </li></ul><ul><li>Reconcile the Cash Book balance with the Bank Balance </li></ul>
  9. 9. VAT – what to include <ul><li>VAT invoices to include </li></ul><ul><li>An identifying number </li></ul><ul><li>Group name & address </li></ul><ul><li>Date of supply </li></ul><ul><li>Customer’s name and address </li></ul><ul><li>Description of goods supplied </li></ul><ul><li>Net value of goods </li></ul><ul><li>VAT charged </li></ul>
  10. 10. VAT – what to charge <ul><li>Output VAT of 15% is chargeable on </li></ul><ul><li>Income from conferences </li></ul><ul><li>Royalties received </li></ul><ul><li>Sponsorship </li></ul><ul><li>Advertising </li></ul><ul><li>Subscriptions </li></ul>
  11. 11. VAT – what to claim <ul><li>VAT on expenses can be reclaimed… </li></ul><ul><li>To do this you need to keep VAT receipts </li></ul>
  12. 12. Expenses <ul><li>Expenses are normally for </li></ul><ul><li>Small purchases </li></ul><ul><li>Subsistence </li></ul><ul><li>Travel </li></ul><ul><ul><li>Mileage </li></ul></ul><ul><ul><li>Train tickets </li></ul></ul>
  13. 13. Expenses <ul><li>Expenses should only be paid after a completed </li></ul><ul><li>Expenses Claim Form </li></ul><ul><li>has been submitted… </li></ul><ul><li>with receipts! </li></ul>
  14. 14. Auditors / Independent examiners <ul><li>Accounts have to be audited. </li></ul><ul><li>2 examiners should be </li></ul><ul><li>independent of the committee </li></ul><ul><li>appointed during AGM </li></ul><ul><li>Do NOT have to be qualified accountants </li></ul>
  15. 15. Timescale <ul><li>Jan – submit Q4 VAT return </li></ul><ul><li> – submit annual accounts </li></ul><ul><li>Apr – submit Q1 VAT return </li></ul><ul><li>– submit audited accounts </li></ul><ul><li>May – receive capitation </li></ul><ul><li>July – submit Q2 VAT return </li></ul><ul><li>Oct – submit Q3 VAT return </li></ul>
  16. 16. Top-up payments <ul><li>Capitation no longer provided (since 2009) </li></ul><ul><li>Top-up payments - only awarded if Divisional Finances are below £1,000 threshold </li></ul><ul><li>Transferred directly into Divisional Bank Account </li></ul>
  17. 17. <ul><li>Any questions? </li></ul>
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