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New Class Officer Training <ul><li>Managing the class treasury  </li></ul><ul><li>September 10, 2011 Danielle Germain </li...
What is the class treasury? <ul><li>It’s a  checking account  used to cover class operating expenses </li></ul><ul><li>It ...
How is the class treasury funded? MHC Class Treasury Dues Class Approved Fundraising Activities
More about class dues <ul><li>Dues are paid in 5-year increments. </li></ul><ul><li>The Class Treasurer is responsible for...
How do we collect the dues? <ul><li>Collecting dues at Reunion is the most effective </li></ul><ul><li>5-year dues should ...
Financial Reporting of treasuries  to the Alumnae Association <ul><li>Treasurers are responsible for: </li></ul><ul><ul><l...
How much money should be in  my class’s treasury? <ul><li>Try to keep around $5k in your treasury </li></ul><ul><ul><li>Th...
Can we invest the money in our treasury? <ul><li>Besides a checking account which is mandatory, treasurers may: </li></ul>...
Money?  What money? Ideas for increasing treasuries <ul><li>When dues don’t cover class expenses, get creative </li></ul><...
Guidelines for Mini-reunions <ul><li>They should be revenue neutral (i.e. break even).  Any ‘profit’ should be contributed...
It’s time for reunion.   Now what?
Treasuries can be used to supplement the cost of Reunion <ul><li>The treasury can be used to defray costs of items since i...
During Reunion, Treasurers and Treasuries are key <ul><ul><li>Leading up to Reunion, class treasury pays up front costs of...
Guidelines for Scholarships <ul><li>Many classes offer scholarships for reunions to members who cannot afford the proposed...
Resources  <ul><li>To learn more about your role, review the Class Officer Handbook </li></ul><ul><ul><li>http://www.alumn...
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Treasury

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Treasury

  1. 1. New Class Officer Training <ul><li>Managing the class treasury </li></ul><ul><li>September 10, 2011 Danielle Germain </li></ul>
  2. 2. What is the class treasury? <ul><li>It’s a checking account used to cover class operating expenses </li></ul><ul><li>It pays expenses approved by the class board </li></ul><ul><li>It should offset class-sponsored activities and projects that are open to the entire class </li></ul><ul><ul><li>If the event is not open to the entire class, the treasury should not be subsidizing the event </li></ul></ul>
  3. 3. How is the class treasury funded? MHC Class Treasury Dues Class Approved Fundraising Activities
  4. 4. More about class dues <ul><li>Dues are paid in 5-year increments. </li></ul><ul><li>The Class Treasurer is responsible for collecting dues and for the overall well-being of the class treasury </li></ul><ul><li>The Treasurer should work with other officers to set dues level for the next 5 years prior to each reunion </li></ul>
  5. 5. How do we collect the dues? <ul><li>Collecting dues at Reunion is the most effective </li></ul><ul><li>5-year dues should be a minimum of $35.00 </li></ul><ul><li>Classmates who pay dues in cash should be issued a receipt </li></ul><ul><li>Set up a class PayPal account before reunion for the easiest payment transaction </li></ul>
  6. 6. Financial Reporting of treasuries to the Alumnae Association <ul><li>Treasurers are responsible for: </li></ul><ul><ul><li>Preparing a financial report at the close of each fiscal year (June 30) </li></ul></ul><ul><ul><li>Filing annual financial reports (including Schedule C) with the Alumnae Association by August 30 th </li></ul></ul><ul><ul><li>Having the books reviewed every 5 years </li></ul></ul><ul><ul><li>Saving copies of financial reports, class books, receipts and documentation for 7 years </li></ul></ul>
  7. 7. How much money should be in my class’s treasury? <ul><li>Try to keep around $5k in your treasury </li></ul><ul><ul><li>This will cover mailings and other activities such as birthday cards, memorials, scholarships etc. </li></ul></ul><ul><li>The 25 th and 50 th reunion classes should plan carefully </li></ul><ul><ul><li>Evaluate your Treasury at 20 th and 45 th reunion </li></ul></ul><ul><ul><li>25 th and 50 th reunions have high attendance. Plan ahead </li></ul></ul><ul><ul><li>They usually have special projects that are expensive </li></ul></ul>
  8. 8. Can we invest the money in our treasury? <ul><li>Besides a checking account which is mandatory, treasurers may: </li></ul><ul><ul><li>Open a savings account </li></ul></ul><ul><ul><li>Invest class money in a Certificate of Deposit </li></ul></ul><ul><ul><li>Invest in any instrument that has a guaranteed return of the principle </li></ul></ul><ul><li>No class money may be invested in the stock market or any other at risk financial entity </li></ul><ul><li>The Treasurer and President have fiduciary responsibility for all the class funds.  </li></ul>
  9. 9. Money? What money? Ideas for increasing treasuries <ul><li>When dues don’t cover class expenses, get creative </li></ul><ul><ul><li>Organize a telephone campaign to collect dues. </li></ul></ul><ul><ul><li>Increase dues and solicit differential from those who have paid and full amount from others who have not </li></ul></ul><ul><ul><li>Hold class functions such as a luncheons or mini-reunions and use these events to raise money </li></ul></ul><ul><ul><li>Design a class item to be sold to all classes and clubs through the Quarterly and through emails. </li></ul></ul>
  10. 10. Guidelines for Mini-reunions <ul><li>They should be revenue neutral (i.e. break even). Any ‘profit’ should be contributed to the treasury </li></ul><ul><li>If mini-reunions are planned regionally for the entire class, class funds can be used to defray cost with Class Officers’ approval. </li></ul><ul><li>It is not appropriate to use class funds for small exclusionary groups that are not open to all. </li></ul>
  11. 11. It’s time for reunion. Now what?
  12. 12. Treasuries can be used to supplement the cost of Reunion <ul><li>The treasury can be used to defray costs of items since it benefits the entire class </li></ul><ul><li>Use funds to defray specific costs such as: </li></ul><ul><ul><ul><li>Reunion mailings </li></ul></ul></ul><ul><ul><ul><li>Reunion committee administrative expenses </li></ul></ul></ul><ul><ul><ul><li>Honorary guests (meals, accommodations, etc.) </li></ul></ul></ul><ul><ul><ul><li>Reunion scholarships </li></ul></ul></ul><ul><ul><ul><li>Gifts </li></ul></ul></ul><ul><ul><ul><li>Large projects that exceed standardized fees </li></ul></ul></ul>
  13. 13. During Reunion, Treasurers and Treasuries are key <ul><ul><li>Leading up to Reunion, class treasury pays up front costs of all reunion expenses </li></ul></ul><ul><ul><li>Treasurer responsible for recording all reunion transactions and closes books with Reunion chair </li></ul></ul><ul><ul><li>Treasurer presents preliminary financial report at Reunion </li></ul></ul><ul><ul><li>Checks from AA for registration fees collected are sent to class treasurers in late May and June </li></ul></ul>
  14. 14. Guidelines for Scholarships <ul><li>Many classes offer scholarships for reunions to members who cannot afford the proposed charge </li></ul><ul><li>Your Class Board determines if scholarships are feasible and the process for distribution </li></ul>
  15. 15. Resources <ul><li>To learn more about your role, review the Class Officer Handbook </li></ul><ul><ul><li>http://www.alumnae.mtholyoke.edu/pdf/volres/coh.pdf </li></ul></ul><ul><li>To learn more about the Alumnae Association’s resources, follow the link below </li></ul><ul><ul><li>http://www.alumnae.mtholyoke.edu/volunteers/res/classes/ </li></ul></ul>

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