• Topics: 4-H Youth Development  |  4-H Club  |  Jordan, Joy Cantrell 

Florida 4-H Treasurer's Manual and Record Book¹

The Florida 4-H Treasurer's Manual and Record Book (4H GCR 02) is 4-H club material that will help guide the newly elected treasurer (age 8 and up) in his or her duties and responsibilities. This record book will be the official financial record of your club.

In EDIS this publication is DLN 4H 012.

Visit the 4-H Youth Development Curriculum Web Site for more information on related project material.

Click here to print or view the entire document.

The Role of the 4-H Club Treasurer

Congratulations on being your Club's Treasurer!!

Being the treasurer is a very important position in your club. Your fellow 4-H Club Members have shown their confidence in you by letting you have this responsibility. As treasurer, you will be responsible for taking care of the clubs money, bank accounts, or other money matters for your club.

Let's take a closer look at your duties ...

$Attend 4-H officer training if one is available. If not, review pages 3-15 to learn responsibilities and methods to use. Look up terms, as needed, in the glossary on page 36.

$ Keep an accurate account of:

• • all money received and its sources.

  • paid expenses showing to whom and why the money was paid.

$ Learn about the club Employer Identification Number (EIN) and discuss the Federal Internal Revenue Service (IRS) Requirements as they relate to your club treasury.

$ Prepare and present a summary of income and expenses at each meeting. Also, report the current balance of all club accounts.

$ Deposit dues (if any) and any other money received (for example from a fund-raising activity) as soon as possible to the club account in a local bank, other financial institution or your County 4-H office (if funds are managed by the county).

$ Give receipts for all money received by the club.

$ Pay money out of the club account only as voted by the club.

$ If the club has any bills, pay them promptly and by check if possible. Get a receipt for all bills you pay in cash.

$ Give an itemized account of funds upon request by the leader or club members.

$ Chair your club finance and fund-raising committees. Use the committee to involve members in the decision making as well as in accomplishing the business of the committee. The finance committee is responsible for developing an annual club budget.

$ Take responsibility for the club funds until the next club treasurer is elected. An internal auditing committee should approve the treasurer's accounts before they are turned over to a new treasurer. In the event a 4-H club disbands, the funds in the club treasury must be either transferred to another chartered 4-H club or else donated to the county 4-H program. Ask your 4-H Agent what the policy is in your county.

$ Complete and send the Annual 4-H Financial Report to the county office at the close of the club year. The report (see page 32) should be approved and signed by the local leader.

$ Work with your 4-H leader to be sure you hav eproperly filed an IRS report of your club's earnings/income for the year, IF your club maintains its own bank account.

Club Budget

At the beginning of each year, your club officers should sit down with the club members and determine what types of projects and activities they would like to do during the year. After you have decided what the club would like to do, you need to develop a club budget. A budget includes estimated income and expenses for a specified amount of time - generally a year. By doing this, you can see how much money your club needs to participate in the activities and projects it has selected. The budget should be developed by you, the club treasurer, with the help of a budget/finance committee, and the guidance of your club leader. The budget/finance committee may be composed of club members or club officers. Use the questions below to help formulate your budget. A budgeting form that can be used to record your final club budget is included on page 10.

Use the following questions and budget outline on page 10 to develop your club budget:

1. How much money does the club have now? $____________ This is your “balance on hand” or beginning balance for the year.

2. What activities are the club planning during the coming year (club trip, community service activity, etc.). Beside each activity put an estimate of how much money will be needed for the activity.

3. Make a list of club projects that have adult or teen leaders (dairy, clothing, etc.). Ask each leader what their plans are and how much money they will need to carry out their planned project activities. Write this amount next to each project.

4. What county or state events will members be participating in during the coming year (summer camp, State 4-H Congress, state fair, etc.)? How much should the club provide for members who otherwise could not go?

5. Do any of the club officers have any expenses? For example – film and developing costs for the club reporter or historian, or do you plan to buy jackets or t-shirts this year?

6. What about club awards (officer pins, end-of-the-year recognition for club members, etc.)? What about meeting expenses?

7. What fund-raisers are your club participating in and how much do you expect to raise from them? Is your club charging its members dues, and if so, how much?

Club Budget Outline

Table 1. 

PROJECTED EXPENSES	AMOUNT
Club Activities:	$
Club Projects:
Events Participation:
Club Officers:
Club Awards:
Club Meetings:
TOTAL ESTIMATED EXPENSES	$
Minus Balance on Hand (Beginning Balance):
Amount Needed to be Raised:
PROJECTED INCOME FROM FUND-RAISERS	AMOUNT
Dues (if your club collects dues):	$
Fund-Raisers: list each separately
Total Estimated Income:	$

Income and Expenses

Let's take a closer look at the pieces that make up your budget. As club treasurer, you are in charge of all the money that comes into and goes out of your club. The money that comes in to your club is called “income,” and the money that your club pays out is called your club's “expenses.” Income is money you receive from things such as dues, fund-raisers, and donations. Expenses are things that your club pays for such as supplies for meetings or projects and scholarships. The first part of this section will focus on how to deal with three types of income - club dues, fund-raisers, and donations and grants.

Income

Club Dues

The most common type of income you will receive is club dues. Many 4-H Clubs charge members some type of dues. This gives the club money to participate in group projects and do the activities they want to do.

So where do club dues come from? Your club dues may be set in your club's constitution or annually by your club membership as you prepare your annual club budget. Try to keep dues low and instead, look at alternative things such as fund-raising as a source of income.

When the club members pay their dues, it is important that their payment is recorded on a Dues Form like the one below. Forms to record your club dues are located in the record keeping section of this book or you can use the Spreadsheet for Club Dues, which is available online at http://florida4h.org/clubs/resources.shtml.

Club Fund-Raising

Fund-raising is a good way for your club to generate income for their planned activities. Fund-raisers should be fun for all of the members to participate in so that it will be profitable. The club, under your leadership as treasurer, should come up with ways to raise the money. This is the challenging, yet fun part.

There are some things you should consider when planning a fund-raiser. Below are some ideas and things to think about when planning a fund-raiser. There are also very specific rules for using the 4-H name and emblem. A complete list of guidelines you should follow in doing your 4-H Club Fund-Raiser, along with a sample form, appears later in this section.

Here are some questions to assist you and the club in deciding how to raise money:

1. Based on your club's planned program, how much money do you really need to raise?

2. Will there be one big, major fund-raiser or several different smaller ones?

3. Who will have the responsibility of coordinating each fund-raiser? In many organizations this is the treasurer's responsibility and he/she often has help from a finance committee. Or your club could even set up a fund-raising committee with you as the chairman.

4. What will be the fund-raiser(s)? Brainstorm for ideas at a club meeting or with your finance/fund-raising committee if you have one.

Below are some ideas for a fund-raiser but your club does not have to limit its ideas to this list:

Auctions

Garage/Yard Sales

Babysitting

Homemade Crafts

Bake Sales

Walk-a-Thon

Bike-a-Thon

Car Washes

Holiday Decorations

Dances

Product Sales (Apples, Calendars, Gourmet Candy)

Most county Extension offices require approval for fundraisers planned by a 4-H club. Please work closely with the 4-H Agent and County Extension Director when planning your fundraising events.

Guidelines for Planning a 4-H Fund-Raiser

It is important to estimate the amount of money your club will raise from a fund- raiser. In most counties, pre-approval is needed in order to start a fund-raising activity that will make over a certain amount of money. An approval form may look like the sample on the next page. Check with your county 4-H extension office to see if there are limits on how much you can raise and if there are any special restrictions on extremely large fund-raisers.

$ Keep fund-raising to a minimum. In other words, only raise money if it is needed and will be used for a specific educational project. It is not just to add funds to your club account.

$ Get approval. Before using the 4-H name or emblem (green four-leaf clover with a white “H” on each clover leaf) on products club members have made or produced, contact your local extension office for approval. Do not put the 4-H name or emblem on commercial products your club is selling as a fund-raiser, unless it has been approved. Review the Fact Sheet for regulations on using the 4-H Name and Emblem, which is available online at http://florida4h.org/clubs/files/fs_emblem_guidelines.pdf. Also, seek other approvals, as needed, from your county.

$ Plan effectively. Plan the fund-raising activity so that the customer will receive value for the money they spend and your club members can have fun. Raffles and games of chance should be avoided.

$ Promote it. Once you have decided on a fund-raising activity, GET THE WORD OUT! Inform the public and potential customers of the fund-raiser. Make sure to answer these questions:

• • What is the name of the event? Country Auction, Holiday Dance, Car Wash

  • Who is selling the product or performing the service? Your 4-H club

  • What are you raising money for? camp, community service project

  • When and where will the fund-raising event take place? date, time, location, approval to use location

$ Keep it a learning experience. In addition to raising money, a fund-raiser should also help the members of your club to get to know each other better, develop team work skills among the members, and makes your group more visible in the community, learn about budgeting, identifying and using resources. Think about various leadership roles members can take to plan and conduct the fundraiser, i.e. marketing, recognition, quality control, sales chair or others as identified.

$ Account for all money. Remember that as club treasurer, you are responsible for collecting and depositing money raised by the activity, for paying any bills, and for properly recording the receipts and expenses from the fund-raiser. You should record any money deposited into the club bank account in the account ledger and in the correct Monthly Ledger for Income and Expenses found at the back of this book (or online at http://florida4h.org/clubs/resources.shtml). You should also write a receipt for the funds after the activity is over.

Sample 4-H Club Fund-Raising Approval Form

Club Donations

There may also be times when your club receives donations from people wanting to support 4-H. Donations include money as well as donated products for use in a fundraiser. When the gifts are considered small ($100 or less in value), the club may coordinate the process. However, if the value of the gifts exceeds $100 or if the person would like to receive a documenting letter for a tax benefit, then your club should seek help from the County Extension Office. For more information on fund-raising and receiving donations/gifts, see the Fundraising Fact Sheet: Procedure for Handling 4-H Accounts: Guidelines for Fund-Raising (DLN 4H 255) available online at http://edis.ifas.ufl.edu/4H255.

Grants

Grants are another way for your club to generate income for their planned activities. However, it is very important that you and your club understand what a grant is and how the money can be used. A grant is money given in return for action promised. In other words, a specific amount of money is given to your club with the understanding that it will be used only for an agreed upon purpose. If your club does not use the money for the agreed upon purpose, the money will need to be returned.

Grants are often one-time allocations that can be used to start a program or project. Very few grants are renewable. While grants can play a vital roles in starting a new program or helping maintain a new program for a short period of time, it may be a better use of your time and effort to find renewable sources of income for your club.

If you decide that a grant is the best choice in generating income for a particular project, you will need to make sure that your club:

• has closely matched the project or program to be funded with the club's area ofinterest.

• has registered their EIN number with the County Extension Office and the State 4-H Program. If requested, a letter from National 4-H Headquarters will document the status of your club as 501(c)(3) “like”, meaning that your club receives Federal tax exempt status.

• has a good record and enjoys strong support from your community.

• is able to demonstrate on paper the expertise, experience, and ability to carry out a project.

• follows sound management practices, including proper budgeting and accounting practices.

For more information on receiving grants, see the Fundraising Fact Sheet Procedure for Handling 4-H Accounts: Guidelines for Fund-Raising (DLN 4H 255) available online at http://edis.ifas.ufl.edu/4H255.

Preparing Receipts

When you receive money from someone, it is important to write them a receipt. A receipt is a written form recording the amount of money received. Without a receipt, you cannot prove that your club received the money. Your club should have a receipt book with pre-numbered, duplicate pages. Use the sample receipt below for reference when filling out receipts.

Figure 1. 

Give the original to the customer, and you keep the duplicate copy.

Figure 2. 

For monthly dues, make one receipt at the end of each month for total amount collected.

Making Deposits

All the funds your club receives should be deposited into the club's bank account immediately. Your club may not have its own bank account, but instead submits your funds to a County 4-H Account. If so, you will follow the county procedures for making your deposits. So how do you make a bank deposit? Follow these simple steps:

$ Total your receipts and then total the amount of money you have in cash and checks. The two totals should equal one another.

$ Endorse all checks right before you deposit them. Endorse means write on the back of the check (at the top, on the lines) like so:

For Deposit Only

Steve Treasurer

Golden Clover 4-H Club

217-3245-389-0

Your club may have a stamp for this purpose.

$ Fill out the deposit form given to you by the bank. Deposit forms usually look like the one below.

Figure 3. 

Sample Deposit Ticket

Make sure to fill it out completely.

$ When entering checks, you should list each one separately. If there is not enough room on the front, you should use the back of the deposit slip.

Expenses

Expenses are things your club must pay for. These things include supplies for meetings and projects, scholarships to 4-H events, or other educational purposes. So how do you pay for all of these things?? With your income, of course!!! Knowing what your club can and cannot pay for is a big part of your job. Check with your 4-H agent to determine if there are things you cannot spend your money on.

Writing Checks/Check Requests

Writing checks (or a check request form if funds are with the county) is the most common way you will pay for things out of your club's account. When writing a check, TWO signatures are required. These signatures should be from two people who are unrelated. If you use a County 4-H Fund, make sure you have the correct forms and instructions from your 4-H Office. For bank checks, follow this easy example to see what you need to do to write a check:

1. Date the check is written

2. Who the check is written to

3. The dollar amount of the check is for, written using numbers

4. The dollar amount of the check, written out in words, uning the entire line

5. What the check is for

6. Your signature

Remember:

1- Always remember to write your checks in ink so that no one can change them!!!

2 -Record all checks in your check register.

Book Keeping

Now that you understand club budgets, income, and expenses, it is important to learn how you keep track of all of these transactions. This Treasurer's Book provides space to record these transactions. These good practices of book keeping should be used by all clubs regardless of where the club funds are managed...a bank or with the County 4-H Funds.

Using the Check Register

All of your deposits and checks must be recorded in the check register. The check register allows you to see all of your transactions and keep a running balance of how much money you have in your checking account. A paper-based check register is provided in the print version of this book, but the more technologically savvy treasurer may find it useful to use one of the many software programs available for book keeping. A spreadsheet for the register is available online at http://florida4h.org/clubs/resources.shtml.

It is VERY important to keep an accurate account register! If you do not do this, your account balance will be off and you will not know how much you can spend.

The Treasurer's Report

As the treasurer, it's your job to keep the club up to date on how they are doing financially. You can measure this by writing each of your incomes and expenses in the Monthly Ledger's like you do in the check register. At each club meeting there should be a place on the agenda for your report. You should inform them of the beginning balance, all of the expenses paid, all of the income brought in, and then the ending balance. This should be verified with the bank statement. Or, for county accounts, ask for a monthly report and reconcile your record with the county reports.

After the club has reviewed your report, club members should move, second and vote to accept the report. Once the report has been accepted, the written portion of the report, the bills, and the bank statement should be added to the official club records in the back of your Treasurer's Record Book.

End of the Year Book-Keeping

At the end of your 4-H year, there are some special things that must be done with your books. Your county 4-H agent should require you to submit an Annual 4-H Financial Report that reflects the current state of your club finances and your club must file a report with the IRS, if you have a separate bank account. If you have a county account, ask for a year-end statement to reconcile with your records.

The Annual 4-H Financial Report is similar to an audit. You should complete this form and pass it along to an auditing committee for their review. An audit is where the finances are reviewed to make sure that the money was used appropriately and there are no differences between the treasurer's records and the banks records. The auditing committee should be composed of two club members and two adult volunteers. Clubs even with county accounts should complete this step at the club level.

In the back of the print version of this book, you will see a form for the Auditors' Report. As the treasurer, you should submit your records for the auditing committee's review. Below is a list of things that need to be handed over:

• Check Register

• Monthly Ledgers

• Bank/County Office Statements

• Copies of any bills

• Receipt Book

• Annual 4-H Financial Report

Once the committee has these records, they can complete the form.

After the committee has completed the report, you should send a copy of the Auditors Report and the Annual 4-H Financial Report to the county 4-H office. Be sure to retain one copy of the report for your records.

At the end of the print version of this book, you will see a Treasurer's Summary for you to fill out. This is to certify that you have kept accurate records and to the best of your knowledge the records are correct. You should fill in what bank holds your money and who the new treasurer will be. Also, be sure to obtain new signature cards from the bank to transfer signature authority to the new treasurer, if you have a club bank account.

Filing with the IRS

If your club maintains a bank account, and is not part of a county 4-H Foundation or other central 4-H fund in your county, you will need to file annually with the IRS. As of 2008, all organizations with treasuries that earn $25,000 or less are required to file an annual electronic notice called a 990N e-Postcard. If your 4-H organization earns more than $25,000, you will need to still file the 990EZ form (listed as “Form 990-EZ” on the IRS publications web site). Both of these forms are available at the IRS web site: http://www.irs.gov/app/picklist/list/formsInstructions.html. Simply type “990” in the Find box to perform a search for the 990 forms you will need.

Congratulations

You have completed your training as a 4-H Club Treasurer! With a little work, you will be a sure success as an officer. Remember that if you have any questions, refer back to this book or ask your County 4-H Agent. Good luck and enjoy your term as 4-H Club Treasurer!

4-H Treasurer's Record Book

Checklist

At the Beginning of the Year...

• Attend 4-H Officer Training

• Meet with the finance/budget committee and your club leader and set the budget for the year. Initiate change of bank signature cards

• Review the Treasurers Summary from the previous year.

Weekly

• Make sure that all bills are paid

• Check to verify that all money the club has received has been deposited into the bank

Monthly

• Check bank statements against your records

• Prepare monthly club report

• Compare Monthly Ledger with the Check Register to make sure they are accurate

• Deposit all money into the bank

• Make sure that the bills for the month have been paid and recorded

At the End of the Year

• Have the auditing committee review your records

• Complete Audit Report and Annual Financial Report

• File IRS Annual Report

• Submit these reports to the County Office

• Sign over the books to the new treasurer

Glossary of Financial Terms

Account Balance: the total amount of money in an account after adding all money received and subtracting all money paid out from the beginning amount in the account.

Annual 4-H Financial Report: a yearly report that provides a summary of the club's use of funds during the year. This report should be reviewed by the auditing committee.

Auditing Committee: reviews the annual financial report, compares the club's ending balance to the bank statement and checks to make sure the amount of expenses and income recorded by the treasurer is correct.

Bank Statement: a monthly report from your bank that lists all of the deposits made and funds taken out during the month. This should be compared with your monthly ledger and check register for accuracy.

Bills: notices of money owed normally sent and received through the mail (examples - phone bill or a bill at a restaurant.)

Budget: a yearly plan of the club's income and expenses. Income should always equal or be slightly over the amount of expenses you have during the year. This budget should be written by the club treasurer with help from the club's budget committee, president, and club leader.

Check: a specific piece of paper given to an account holder (your 4-H club) by the bank so that your club can use it to pay a bill or buy an item; it has the same value as cash.

Check Register: an ongoing list of funds you receive and pay out. This allows you to keep a running balance of how much is in the club's account.

Club Account: where the club's money is kept; it is usually in a bank; the club may add money to their account or take some out to spend on activities or projects

Deposit: bringing any money the club has earned or received to the bank for the bank to put in the club's account.

Endorse: to sign the back of a check in order for it to be deposited into your club's account. When you endorse the check, you should write “For Deposit Only” and your club's name, then sign it. Your club may have a stamp for this purpose.

Estimate: an educated guess on the amount of money the club will need for an activity or project; estimating is used when making the club's budget to determine how much money the club needs to earn through fund-raisers.

Expense: money that the club spends on projects, activities, or on purchasing items; this amount of money is taken out of the club account by either writing a check or taking cash out of the club account

Funds or Treasury: the amount of cash available for the club to use on a project or activity; the club's funds or treasury is usually kept in a club bank account.

Income: money earned or received by the club from a fund-raiser or donations; this money should be deposited into the club account.

IRS Report: An IRS form (990 EZ) that must be filled out every year. It must reflect all income received during the 4-H year. This must be filed within 5 months of the close of your program year. Work with your 4-H Agent to complete this task.

Monthly Ledger: a monthly account of all income and expenses in detail. This should be used as a basis for giving your monthly report at each club meeting.

Receipt: written form recording the amount of money that was received from a fund-raiser, club dues, or some other type of income.

Signature Card: a form received from the bank that specifies who is able to sign the checks and deposit money into your club account. The names on the account should be the treasurer, the club leader, and the club president.

Florida 4-H Treasurer's Book References

Duties of the Treasure -

1. 1. Texas Agricultural Extension Service “4-H Club Treasurer's Record Book” (page 1)

   2. Michigan 4-H “Treasurer's Record Book” (page 1)

Duties during the 4-H Year -

Texas Agricultural Extension Service “4-H Club Treasure's Record Book” (page 1 & 2)

Handling Money -

Texas Agricultural Extension Service “4-H Club Treasurer's Record Book” (page 2 & 4)

Your Club Budget and Club Budget Outline - Taken directly from:

Alachua County 4-H Club Treasurer's Book (page 6 & 7)

Fund-raising -

Alachua County 4-H Club Treasurer's Book (page 8 & 9)

Monthly Financial Charts -

Alachua County 4-H Club Treasurer's Book (page 24)

Summary and Auditor's Report -

Texas Agricultural Extension Service “4-H Club Treasurer's Record Book” (page 12)

The Institute of Food and Agricultural Sciences (IFAS) is an Equal Opportunity Institution authorized to provide research, educational information and other services only to individuals and institutions that function with non-discrimination with respect to race, creed, color, religion, age, disability, sex, sexual orientation, marital status, national origin, political opinions or affiliations. For more information on obtaining other extension publications, contact your county Cooperative Extension service.

U.S. Department of Agriculture, Cooperative Extension Service, University of Florida, IFAS, Florida A. & M. University Cooperative Extension Program, and Boards of County Commissioners Cooperating. Millie Ferrer-Chancy, Interim Dean.

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