Treasurer - UK

The Treasurer will serve as ‘bookkeeper’ concerning all financial matters and is responsible to assure that receipts are accounted for and all financial transactions are recorded using Google Docs and donations and pledges entered into the database. A lever arch file paper record should also be kept of all transactions. The treasurer is responsible to pay bills, and give regular reports to the Executive Committee. He/she will assist the local coordinator in providing a weekly financial report to the national office. The Treasurer is an active part of the Fundraising Committee.

The Treasurer should keep their own set of books, even if the office keeps records.

Recordkeeping

Because the local budgets are an extension of our non-profit status, IWT (Scotland) is ultimately responsible for all accounting to the HMRC. Because of this, please keep the following in mind:

Please keep accurate records of all transactions.
Photocopy and keep current and concise records of donations.
IWT is not allowed to pay salaries, therefore no financial gifts may be given to coordinators through the IWT budget or cheque book. However, reimbursements may be necessary.
If you have any questions about these procedures, please contact the IWT National Office.

Current Account

A current account for your campaign will be opened as soon as possible. The IWT office will notify you with information needed to open the account.

The Committee should two signers; cheques must have two signatures. (We suggest that two of the following be signers: Chairperson, Co-Chair, Fundraising Chair and Treasurer.) Two signers will also be added to the account from the national office.

Deposits

For accurate record keeping, all deposits should be handled as follows:
Double check and correct giving details on any remittance slips or envelopes.
Cheques- Surname of donor, cheque number, amount listed on deposit ticket
Cash-name of donor and amount must be recorded. Designate the gift as ‘cash’ on the deposit ticket and the front of the envelope it was received in.
IMPORTANT: Make a photocopy of all cheques, pledge cards, response slips, and envelopes received with all gifts for each deposit. Keep originals in date order with your records and forward copies to the main IWT office at their request.
Record the deposit with summary description in the Google Docs spreadsheet.
Record giving and pledge information in the database.
Print a Deposit Reconcile report as a cover sheet to accompany any documentation and file.

Electronic Recordkeeping (Google Docs)

A shared Google Docs spreadsheet is the method IWT uses to maintain accurate and up to date records of the financial activity pertaining to your community and help you track income and expenditures against your budget.

Each week, use Google Docs to capture electronically all the transactions that have occurred on your bank account.
Categorize each new transaction according to the budget category when known - at least provide a description.
Print reports of expenditures and income as needed for your executive committee.

Donor Tracking (Access Database)

An Access Database is the method IWT uses to maintain donor records, including pledges. This is accessed remotely with a Windows computer, through the internet. You will be given login details as needed. You will also be given access to a secure area of the YWAM Campaigns website to view training videos to help you use the database.

Each week, use Access to enter any new gifts or pledges being sure to record deposit dates.
Also indicate any gifts given with Gift Aid.
Use the Weekly Report and Deposit Reconcile reports to help you track fundraising goals and keep accurate records.
At the beginning of each month, pledge reminders and/or newsletters are sent to everyone in the database so please keep records up to date.

Disbursements

Local expenses should be paid directly. Keep all receipts and invoices on file with the cheque number, amount paid and purpose clearly legible. Early Phase budget items, as well as any portions of the Campaign Phase marked “payable to IWT” (see your budget sheet) should be made payable to ‘IWT Scotland’. Record any cheques in the Google Docs ledger spreadsheet and also record on the budget tracker.

IWT Offerings

Arrange a Counting Team and secure a private counting location whenever offerings are received.

Prior to the Event

Recruit at least one other trustworthy, capable counter for each event.
Arrange a room with sufficient tables and chairs.
Bring an adding machine with tape and other needed supplies - rubber bands, pens…
Bring deposit bags, coin bags

During Counting

All offering envelopes must be filled out completely with name and address and amount enclosed. Verify amount of cash gifts and circle and initial amount. Double-check the amounts of cheques and initial. For combination gifts of cash and a cheque, break down the amounts. Do not throw away envelopes.
All cheques and envelopes must be photocopied before depositing.
A designated person should check all ‘empty’ envelopes against the light.
Fill out Tally sheet or Pudding Feast Report Form (include attendance count). Sign and give to the IWT Coordinator.

Tax Back

In order to facilitate the collection of tax paid (Gift Aid) on donations back from the HMRC, please make sure clear, legible copies of donations and gift aid declarations are kept. You might need to ask some donors to resubmit or make corrections to their declarations as first inital, surname, address and signature are required. Donors may sign retroactive declarations if you become aware that a declaration is required on previous giving.

Financial Closeout and Financial Year End

At the conclusion of the tour events, all bank accounts must be closed out and all financial and accounting records including cheque and deposit books, stubs, and remaining records forwarded to the National IWT Office. A national office staff member will meet with you ensure within 60 days to ensure all financial obligations are met, funds are cleared and any remaining funds transferred to the IWT storehouse fund. Accounts will then be examined by a third party, independent examiner and submitted to OSCR and Companies House.

The IWT financial year ends 31 July so all paper records up to that date must be forwarded to the main office at that time. Spreadsheets and databases must also be up to date. It is helpful if all immediate, pending disbursements are paid by that date as well.

Financial Accountability and Integrity

In order to avoid even the appearance of evil, IWT Coordinators will not handle any uncounted offerings or gifts. When counting offerings at church kick-offs or other IWT events, counters must never work alone. It is advised that monies be counted before transport to another location and a record made of all gifts.

Privacy and Security

Please remember that as the treasurer, you handle and process personal information and carry an obligation to do so fairly and lawfully. (Personal information means details that would identify a particular person such as John Smith at the Parish Church or J Smith at 52 Castle Street in Myburg.) In particular:

Safeguard all passwords to access the database and tracking spreadsheets.
Limit your discussion or sharing of an individual’s giving information to them, or others who help you directly fulfil your duties or legal obligations. This includes the IWT Scotland National Administrator, the Royal Bank of Scotland, OSCR, HMRC or Police but not necessarily their pastor or others on the local leadership team.
Do not keep personal copies of private information on your own computer.
Keep paperwork secure and when using a shared workspace, be mindful of personal information left in plain sight.
Do not keep personal information longer than necessary. Shred any unnecessary documents that contain personal information.