Class Finances

1
Class Finances
2
Agenda

• Introductions
• Role of the Treasurer
• Uses of the Treasury
• Class Gifts
• Annual Reports
• Questions

3
Role of the Treasurer

• Manage class treasury and bank account
• Maintain accurate class treasury records
• Raise fundsannual dues and class life membership
• Maintain accurate list of class life members

4
Role of the Treasurer

• Send life membership dues to Office of the
  Alumnae Association for investment
• Pay bills and reimburse classmates
• Facilitate class gifts
• File annual financial report with Office of the
  Alumnae Association

5
Uses of the Treasury

• Purposeto finance class activities
• ALC
• Mini Reunions
• Publications
• Reunion/Record Book seed money
• Dues Notices
• Revolving Loan
• 60th-reunion class

6
Class Bank Account

• Should I transfer funds to a new bank?
• EIN number and packet
• Should I stay at the current bank?
• New signature cards
• Co-signers

7
Portion of Funds for a Class Gift

• Proposal and ballot sent to all classmates
• One-tenth of living members must vote
• Two-thirds majority required for passage

8
Annual Reports

• Class financial records
• Annual financial report to Office of the Alumnae
  Association
• Classes need not file with IRS

9
Common Questions

• How can we motivate classmates to pay dues?
• Are class dues tax deductible?
• How does the executive board determine if the
  class is financially secure?