Treasurer
The office of treasurer is an elected office and is held for two years.See also SLA's Unit Treasurer Information, the Tax and Legal Handbook, and Appendix B: Miscellaneous Financial Guidelines. The Treasurer's duties are as follows:
1. General Duties
- To serve as a member of the Executive Board. (All SLA unit officers (and committee chairs) must sign the SLA Leadership Code of Responsibility. The Chair distributes these forms at the beginning of each term of office.)
- To appoint one member of the Nominating Committee each year, as specified in the Governing Document. This is done in conjunction with the Secretary and Past-Chair to ensure that one member of last year's committee continues on it next year if possible. (Perhaps the newest member of the Executive Board--the newly elected Secretary or Treasurer--could approach last year's committee to determine which member is willing to continue.) Tell the Chair!
2. Money Management Duties
- To prepare the budget with the Chair for approval by the Executive Board (current budget cycle goes from June through May). At the Chair's request, prepare budget estimates for specific projects.
- To receive, deposit, and disburse PAM funds in a timely manner, as requested and authorized by the Chair. In addition, to arrange for the Chair to have signing authority. All funds received by PAM shall be used for purposes incident to the fulfilment of the Division's objectives.
- Maintain the bank checking account and SLA Pooled Fund account. Keep the bank and SLA apprised of current signatories. (It is only really necessary to change signatories every two years. Get signatures both for the bank and for the Pooled Fund at the time you and the new Chair and Chair-Elect take office.)
- Deposit receipts from dues, sponsorships, and any other income. (Note: the Chair-Elect sends acknowledgments of contributions to sponsors, fulfilling SLA's requirement.)
- Deposit funds in excess of those required for the year's operating expenses in SLA's Pooled Fund, as approved by the Board. This is PAM's reserve fund; the goal is to have an amount in reserve equal to one year's operating expenses (per SLA Headquarters' recommendation).
- Pay expenses in a timely manner. See the Expenses Reimbursement policy. It is recommended that the Treasurer make direct purchases/payments when appropriate; favorable criteria include minimizing members being out of pocket for expenses (i.e., rather than having them pay and get reimbursed), avoiding currency exchange issues (e.g., when the Bulletin was getting printed in Canada), and guaranteeing reservations (e.g., the hotel catering and suite rental for the annual convention). The division now has a debit card that the Treasurer (or Chair) may use at his/her discretion to pay any expenses previously approved by the Board. The Treasurer should bring PAM's debit card and check book to the conference, and at the Board's request, provide a debit card for the Chair as well. The Treasurer will hold onto all debit cards during the rest of the year.
- For major and/or repeated expenses, the treasurer should immediately find out if PAM must pay local sales tax in the state where the expense is incurred. Ten states (DC, FL, IN, MA, NJ, NY, TN, TX, WI, NM) have granted SLA a tax exemption certificate for state sales tax. All tax exemption forms can be obtained from SLA headquarters using the fax-on-demand system by dialing 1-888-411-2856 in the US or Canada or 1-415-278-3910 from other countries.
- The Division will partially reimburse the Chair and Chair-elect's travel expenses to attend required SLA meetings, as specified in PAM Financial Policies. The Treasurer may propose that the maximum amount be changed.
- The Awards Committee is entitled to spend, without prior approval, a small amount for a certificate. The Awards Committee Chair should check with the Executive Board to determine an appropriate level of expense for the awards dinner.
- Procedures for giving advances exist only for the Directory and the Bulletin, as described below. Any other advances must be approved by the Executive Board.
- The Membership Chair is entitled to receive an advance for mailing the Directory, upon request. The actual receipts are to be forwarded to the Treasurer as usual, who will keep track of the amount outstanding. Any amount due to the Membership Chair or to the Division will be settled in or before June of each year.
- The Bulletin Assistant Editor is entitled to receive, upon request, an advance for the entire estimated annual expenses for the Bulletin, in July of each year. In this case, as the assistant editor incurs expenses, the receipts are forwarded as usual to the Treasurer, who will keep track of the amount outstanding. Any amount due to the Assistant Editor or to the Division will be settled in June of the year following the advance. (Final approval June 1994.) Alternatively, the Assistant Editor may have the printer bill the Division, for the Treasurer to settle directly. If it is necessary to set up a credit account with the printer for this purpose, the Treasurer fills out the credit application, using PAM's bank account information but SLA's trade references (ask SLA Headquarters for these).
- In any given year there will be two holders of the PAM International
Membership Award. Get a completed membership application from the new
member and forward it, with payment for one year's dues, to SLA
headquarters. Ask the continuing member for his/her renewal notice and
then forward it, with payment of the second year's dues (noting the
member's ID number on the check), to SLA headquarters.
For the PAM International Travel Award winner, money may need to be wired to the awardee in order to get a visa application approved (although it may suffice for the letter that the Chair writes in support of the visa application to explicitly state the amount of financial support offered). To wire money, you must ask the awardee for the appropriate information: name on account, bank routing #, bank fax and phone number, and bank name and postal address. The Treasurer may also purchase the flight tickets and arrange to pay the hotel bill directly. The Treasurer should give the awardee cash towards daily expenses as soon as possible after arrival at the conference. The PAM Division will use a standard per diem rate appropriate to the conference location (e.g., standard U.S. government rates), rather than reimbursing specific expenses. - PAM has occasionally provided some financial services (deposit and disbursement of funds through PAM's accounts) for the periodic meetings of Library and Information Services in Astronomy (LISA), at the request of the LISA Scientific Organizing Committee or the Friends of LISA Committee. See the agreement for passing funds from LISA IV to LISA V.
3. Reporting and Oversight Duties
- To maintain all PAM financial records in accordance with Association Practices.
- Maintain financial records of the Division including sources, targets and amounts of funds received and dispersed; reconcile account statements; and retain in an orderly fashion all invoices, cancelled checks, etc.
- Pass all records, including procedures manual, to the incoming Treasurer or to the PAM Archivist as appropriate. All financial records must be kept for a minimum of seven years, although older records may be given to the PAM Archivist. Typically, the Treasurer keeps two years plus the current year.
- Maintain a file of taxpayer Social Security or tax ID numbers for all persons or businesses to whom checks are written for over $600, as required by SLA Headquarters. Report to SLA all payment amounts made to individuals (corporations are exempt) paid over $600 for services, scholarships, awards, honoraria, etc., (expense reimbursements are exempt), no later than January 15 each year.
- To submit required reports to the Association office on time.
- Prepare, sign, and submit an audited annual financial statement for each fiscal year ending December 31. Forms can be accessed on the Association web site. The completed form must be submitted to the Director, Finance at the Association office by January 31. Each Division's annual financial statement must be certified as to its accuracy by an auditor appointed by the Chair. The auditor may be neither an elected or incoming Division officer nor a current or incoming member of the SLA Board of Directors. The Treasurer usually suggests appropriate candidate(s) from his/her institution for the Chair's approval.
- Prepare, sign, and submit the semi-annual report, due June 30. In a year when a new Treasurer takes office, it is the responsibility of the out-going Treasurer to prepare the semi-annual report.
- Distribute copies of the reports to each PAM Executive Board member.
- Present a report to PAM members through the Bulletin (see SLA PAM Bulletin Contributor Information and Deadlines) and/or at the Annual Business Meeting.
- To keep the Executive Board apprised of PAM's fiscal state.
- To monitor PAM fund-raising activities to ensure that they are in compliance with Association Practices.
At the end of your term, please send any changes in the Treasurer's section to:
PAM Practices Manual Editor: Kristine Fowler, fowler@math.umn.edu
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Page last updated: October 8, 2004