The Treasurer is responsible for monthly financial reporting to the board of directors, annual financial reporting to chapter members and AMA and completing the chapter’s annual IRS filing requirements. The Treasurer must be a licensed CPA and receives a complimentary membership to the AMA.
- Maintain Chapter financial accounts. Receive and disburses all Chapter funds. Cash/deposit all checks promptly!
- Secure signature cards and forms for changing signatures on all Chapter accounts before July 1.
- Prepare the preliminary Chapter budget based on estimates of Chapter Officers. Submit to the Board for approval and revisions. Email a copy of the completed budget to AMA by August 1.
- Monitor the disbursement of funds and compare income and expenses to the budget throughout the year.
- Maintain official Chapter records with the date of each member’s last dues payment. Receive and verify dues collected and remitted monthly from AMA.
- Prepare monthly reports and send to AMA each month.
- Present a monthly financial report of income and expenses at Board meetings.
- Prepare a statement of financial condition at year-end. Include a copy of the preliminary budget and the actual expenditures by category. Send copies to the President and AMA.
- Submit annually required forms and applications (if necessary) for incorporation and tax exemption. Information is available from AMA. File required tax forms with IRS and other state or local agencies as required.
- At year-end, oversee completion of the Professional Chapter Financial Report Form, signed Signature Page and June 30th Reconciled Bank Statement and send to AMA by August 31.