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District 7570
District 7570
Jim Ridenour,
District Treasurer
2015-2016
2015 PETS
Financial Matters
District 7570
Financial Matters
Clubs in D7570 need to tend to financial requirements.
District 7570
FINANCIAL MATTERS
Why should a Club President have to worry about such matters?
“There is a club treasurer who takes care of all financial details”, BUTThe Club President is ultimately responsible for all matters in the club – to assure that all matters are handled properly and in a timely manner
District 7570
Financial Matters
Two Areas of Focus Rotary International District 7570
District 7570
Financial Matters
Rotary InternationalSemi-Annual Dues (i.e., twice a year – every six months)Components (2013 M.O.P. RI Bylaws article. 17):
•Dues > $27.50 per member (2015-2016)• (10 member minimum & prorated for part year memberships)
•Rotarian Magazine > $6.00 per member•-------------------------------------------------------------------------------------------•Liability Insurance > $2.73 per member per year (approx).•Council on Legislation fee > $1 per member per year, payable July 1
District 7570
Financial Matters Rotary International Dues - other considerations• Membership as of June 1 & December 1• Payments due on July 1 & January 1
Methods to pay:• Invoice mailed to club secretary, develop worksheet, mail in
worksheet with check, or• Go to www.rotary.org (member access)• Assure accuracy of roll & review invoice• Pay online by credit card or print invoice and mail with check• Also, mail in worksheet.
District 7570
Financial Matters
District 7570 Dues One Payment • $23.00 per member - plus• $35.00 per Club for database/website maintenance fee
District 7570
Financial Matters
District 7570 Dues Procedure:• Membership as of September 30.• Invoice to Club Treasurers by November 1 (Pmail) – copy to
Presidents and Secretaries• Payment due December 1• If Payment not received by January 1, 5% penalty is added• Automatic electronic fund transfer is available.
District 7570
Financial Matters D7570 Electronic Dues Payments Club Responsibilities1. Complete “Authorization to Collect Dues via electronic Debit” form
and secure Club Board of Directors approval
2. President and Treasurer must sign completed “Authorization to Collect Dues via electronic Debit”
3. Attach a “voided” check or deposit ticket to the completed form.
4. Mail completed form with “voided” check or deposit ticket to: District Treasurer: Jim Ridenour, 907 Blue Ridge Dr., Staunton, VA 24401 or email scanned copies to: [email protected]
District 7570
Financial Matters Electronic Dues Payments (continued) Club Responsibilities (continued)5. Club Treasurer to maintain a copy of transmitted form for Club files.
6. Club to make certain funds are in account to be electronically debited on or before December 1st.
7. “Authorization to Collect Dues Via Electronic Debit” will remain in force until the Club rescinds the Authorization.
8. New Form must be completed and transmitted whenever Club changes bank accounts – inform District Treasurer whenever bank account changes.
District 7570
Financial Matters Electronic Dues Payments (continued) District Responsibilities1. Send Club President, Secretary, and Treasurer annual invoice for
Club dues in October.
2. Send notifications to club President and Treasurer when electronic debit will be charged to the Club’s bank account.
3. Execute electronic debits to clubs bank accounts via District’s banking organization.
4. Follow up with Clubs that have insufficient funds to cover electronic debit.
District 7570
Financial MattersClub Enrollment To DateBuchanan Russell County Bridgewater
Wytheville Morning Bluefield Christiansburg
Bristol Morning Clarke County New Market
Floyd County Johnson City Radford Noon
Rocky Mount Woodstock Buena Vista
Greeneville Morning Strasburg Forest
Abingdon Bedford Giles County
Elizabethton
District 7570
Financial Matters
QUESTIONS?