San Diego Jaguar Club Treasurer Duties

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1 Section The Treasurer The Treasurer shall be the custodian of the SDJC's funds, shall handle all receipts and disbursements, and shall maintain all necessary records in connection therewith. A summary sheet of all SDJC income, expenditures, and account balances shall be provided to any Member on request and shall be published on the SDJC website secure Club Member s Page. The Treasurer shall also be responsible for any and all annual tax filings with either the Federal or California agencies necessary to maintain the SDJC s status as an active corporation and to avoid any penalties or additional fees. Simple Instructions Deposit funds, pay bills and maintain an accurate log of all financial transactions At month end transfer any PayPal balance in excess of $100 to Bank of America checking account At month end complete a Treasurer s Report for the subsequent Board of Directors (BOD) meeting Treasurer s Report and descriptive notes to BOD members ahead of the meeting Bring checkbook to the BOD meetings Bring checkbook to all SDJC events to make payments / collect monies as needed Annual Filing Requirements* SI-100: Every year (following the November elections) check the SI-100 for currency. o Submit SI-100 in December per the following schedule Every two years (even numbers) submit the SI-100 with the filing fee Updates on the odd years are free. Submit only if necessary At year end complete the annual financial summary for submission to members via the website Complete the necessary tax returns 1 st quarter of the year o State tax return: Form 199 or Postcard if Gross Receipts < $50,000 o Federal tax return: Form 990-EZ or Postcard if Gross Receipts < $50,000 Form RRF-1 is not needed see letter dated April 27, 2015 (Attached) *Tax exempt Federal Status 501(3)7, California Status 23701g 1

2 Treasurer s Report Board of Directors Attached is the Month end August 2017 Treasurer report. Pages 1 & 2 show the accounts summary through August. Page 3 & 4 are the Account Balances at Bank of America and PayPal respectively. Page 5 & 6 is the P&L for this year and the last three years. Membership dues are comparable with this time last year, while Zoo donations are significantly increased (~40% up). Logo wear income is significantly reduced this year (down 50.8%). This reduction in sales was noted last month and is expected since most of our items are purchased directly through the vendors via the website and do not go through our club accounts. Next month will see a small spike in logo expenses since Marie has ordered a few items from Lands End in different sizes. This should be a good service to members who want to examine sizes before ordering custom clothing. Concours financials are all complete and are summarized on Page 6. This year's Concours had a net loss of $ This is remarkable considering the dealer sponsorship of $ did not materialize. That's a great achievement by everyone! Club dinners are shown as operating at a small profit ($425.00) on Page 5. That is slightly misleading since it reflects the accounts at the end of August and does not include the Riverwalk income from checks or the final bill to the Riverwalk Golf Club. In fact, $425 is approximately the excess of the PayPal income for the Riverwalk brunch received in August over the initial venue deposit. We are most likely operating at near neutral overall, which is another great achievement! It s interesting to note on Page 2 that our net income for this year is ~$6,500 and we have already paid a significant deposit for the Holiday Party. Comparisons with this time last year are difficult since we had not received the Port Authority security deposit at this time last year. Its clear though the expenses are under control and the Club is financially healthy. See you at the BOD Meeting Wednesday. Respectfully submitted to the Board. Dave Allen Treasurer 2

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9 Form RRF-1 Letter dated April 27,