Note from the Treasurer's Desk...
Stephanie Mastrocola, HSA Treasurer, 2011-12
Approximately $26,000 in checking account, $10,661 in CD
Profits to date (January 10, 2012):
Bagel Day | $409.00 |
Spirit Wear | $578.00 |
Scrip | $1,055.00 |
H'day Shop | $707.00 |
Ice cream | $25.00 |
Author visit | $135.00 |
TOTAL | $2,909.00 |
Finance Facts
I. The current fiscal year is 2011-12
II. Each fiscal year runs July 1 through June 30
III. A proposed budget for the current fiscal year is presented and, assuming there is a quorum of at least 15 members, voted on at the September HSA meeting. It is important to note that the itemized income and expense lines that make up the budget represent a projection of where we will end up at the end of the fiscal year.
IV. Traditionally, final budget projections are more accurate in the spring as we near the close of the fiscal year. The HSA by-laws require that a quorum be present and a vote made on any new expenditure of more than $250. Emergency expense requests, if necessary, can be presented to the HSA and voted on at any point during the year.
V. There are peaks and valleys throughout the year in terms of both expenses and income. Although the amount of money in our account looks ample, we will soon start to spend down the money as pizza invoices and other vendors come due..
Processing Checks/Frequency of Deposits
As a rule of thumb, the treasurer will attempt to make deposits once a week. Our intention is to process checks as efficiently and quickly as possible.
However, in the case of certain high-volume activities, such as pizza, membership and gift wrap, it may take additional time for your checks to be deposited and cleared:
High volumes of checks for such activities are reconciled and then batched together for
deposit, which takes additional time.
Committee chairs usually wait until after event deadlines to conduct a final reconciliation
of checks collected BEFORE passing them on to the treasurer for deposit.
Procedures for Reimbursement
If you are planning an HSA event and know the amount you will need:
If you pay for something yourself, please submit your receipt to me -- either put it in the "HSA Treasurer" mailbox in the Byrd front office, or drop it in my home mailbox. My address is listed in the HSA Handbook. Be sure to put your name on the receipt.
Please DO NOT take cash from the amount you have collected to reimburse yourself, unless you get prior approval. This will make tracking expenses and accounting for the event much simpler.
Thank you. If you have questions, please feel free to call or email me.
Stephanie Mastrocola