Treasurer skills and general duties
The treasurer should be detail oriented, have strong math skills and do his/her best to see
these actions are done properly so that there are no doubts about his/her integrity:
- Control the club’s money, its collection and disbursement.
- Transact all business through a bank or school account. Many schools do not allow clubs
- to keep independent checking or savings accounts. It does not matter who writes the
- checks—school officials or the Key Club treasurer. What does matter, though, is that the
- treasurer be responsible for keeping accurate books that will enable him/her to give a
- full financial report whenever requested.
- Reconcile bank statements.
- Record all expenditures and income for the week.
- Deposit club funds.
- Collect all monies from club projects.
Understand adults’ roles when dealing with club finances
- It should be noted that the treasurer’s records always should be open to inspection by
- the club’s officers, faculty advisor, principal and Kiwanis advisor.
- Get advice from your advisor on all financial matters.
- Understand school or administration and club policies regarding student financial
- accounts relating to school organizations.
Coordinate dues collection and payment
- Collect member dues.
- In coordination with the faculty advisor and club secretary, update the membership
- roster at www.keyclub.org and forward monies, dues invoice and membership form to
- the Key Club International office. Early Bird is due by November 1 and dues deadline is
- December 1.
- Bill members for unpaid dues.
- Collect dues from new members and forward them to the International Office.
Meeting attendance and duties
- Inform the club and Kiwanis sponsor of financial strengths and weaknesses
- Prepare a financial report for the board of directors meeting.
- Attend all meetings within the club and the club officer-training conferences with the
- lieutenant governor.
- If your school policy permits your club to have its own checking or savings account, it is
- strongly advised that two (2) signatures be required on each check. Your faculty or
- Kiwanis advisor should co-sign with the Key Club treasurer or president.
- Disburse funds and pay bills promptly as approved by the board of directors.
- Pay all bills as approved by the board of directors.
Prepare and review the budget
- Prepare the budget and present it to the board for approval.
- The budget should be the regulating factor for the club’s activities. The budget is a
- statement of the organization’s planned expenditures and income based on the
- approval and commitment of the club.
- The club must commit to raising the necessary income, for without the budgeted
- income, the club cannot spend as it had planned without incurring a deficit. Thus, when
- total expected income is not achieved, total expenditures must be cut.
Manage club accounts
- Key Club International is a nonprofit organization, receiving much of its receipts from the
- general public. Therefore, the law requires that two separate accounts for receipts and
- expenditures be maintained. These accounts are the service account and the
- administrative account.
- Service account: All monies collected from the general public must be returned to the
- general public. Such money can’t be used for club administrative costs, such as printing,
- conventions and conferences and travel to events other than service projects.
- Administrative accounts: The administrative account is the operating account for the club.
- It is used for those monies to be spent on club administration and/or members. Monies
- coming from the administrative account are collected from dues, Kiwanis-family members
- and school subsidies. Monies in this account may be used to buy supplies, purchase
- advertising, send members to conventions and conferences, etc.
- Funds in the administrative account can be transferred to the service account. However, no
- funds from the service account may be transferred to the administrative account.
- It is helpful in bookkeeping and auditing to note on each receipt into which account the
- money was deposited. Likewise, all checks should note from which account and line item, if
- appropriate, the money was drawn.
Maintain accurate financial records
- Keep an account of all transactions as they are made. A simple method to use is the
- general journal, containing three columns: income, expenses and balance. Log in each
- transaction when it occurs, specify the date and a simple description, list it properly
- under income or expense and record the balance. It is recommended that the club
- purchase a general ledger for the club treasurer.
- When disbursing money, always obtain a receipt as evidence of payment. Use a check
- rather than cash whenever possible. This will provide you with an additional receipt.
- When reimbursing a club member for expenses, require him or her to complete an expense voucher and attach a copy of the receipt to receive reimbursement.
- File appropriate forms with the Internal Revenue Service (for U.S. clubs only).
- Send district convention registration fees to proper place and send Key Club
- International convention registration fees to appropriate address.
- Work with the treasurer-elect and help him/her prepare to take over your job next year
- and receive all financial records, receipts, files and training from immediate past treasurer.