Posts Tagged ‘monthly audits’


Get your books in order!

Hey chapters, here’s a heads up:

Over the last six months, two of our local chapters have discovered mishandling of their funds. In an effort to help chapters practice fiscal responsibility, the exec committee recently approved a motion to require pro chapters to submit 12 months of bank statements with their annual reports for the time period covered by the report.

Exact wording:

Pro chapters will submit 12 months of chapter bank statements, for all chapter accounts, with their annual reports.

Good news: You have time. Start getting your books in order. Conduct monthly audits to make sure you’re ready. And when I say audit, I don’t mean glance over the Word doc your treasurer handed to you – take a look at those statements, reconcile the checkbook, view cashed checks, ask questions. Trust me, it’s worth it in the long run.

The statements are considered part of the annual report and if they’re not included, it’s not considered a complete report.

Questions? Email me, call me (317-927-8000, ext. 215). I’m happy to help walk you through our financial best practices, answer tax questions or just listen to your chapter concerns.

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