ADVERTISING AND MARKETING DIVISION PROCEDURES MANUAL

FUNCTIONS

1. Collect, bank and expend the funds for the Division as authorized and required.

2. Prepare an annual Division Financial Statement including separate statement on sections' moneys reporting the fiscal status of the Division as of the close of business December 31st of each year. THIS MUST BE AUDITED. Two copies of this report are sent to the Association's headquarters, with one copy being sent to the Division Chair. A semi-annual, abbreviated report should also be completed and sent to the same parties.

3. Contents of the Audited Financial Statement will provide the basis of a formal report of the fiscal condition by the Division Treasurer to the officers and members at its Annual Business meeting and Executive Board Meetings. A synopsis of this report is also sent to the Bulletin editor for publication in the Winter issue.

4. Receive and evaluates all budget requests submitted by Board members and Committee Chairs and reports back to the Chair Elect and the Board at the Annual Business Meeting as to the fiscal soundness of the requests.

PERFORMANCE

1. Collect: the most usual source of funds is the Allotment from the Association. Income from other sources, such as publication sales, advertising revenue, project activities and grants, should be recorded and reported.

2. Bank: All funds should be deposited to an account of the Division in a bank as promptly as possible. Each deposit should be identified in terms of source. This is especially important when the deposit includes moneys from several sources such as different subscribers or different advertisers. The decision to deposit money in a savings account CD or other savings tool as well as a checking account will be based on the amount of money involved and the activity of the account.

3. Spend: Each expenditure should be authenticated by an invoice, a receipt or other official justification.

4. Report: The treasurer has an obligation to the members of the Division to scrupulously care for the money that has been entrusted. Report forms are provided by SLA headquarters. The information available from the treasurer's report is needed by the officers of the unit and of the Association to guide them in their decisions. The report, together with the "back up documentation" will provide the auditor with the information s/he requires to authenticate the treasurer's records.

5. Audit: Each Division Treasurer's Annual Financial Statement must be certified as to its fiscal accuracy by an auditor. The auditor should be a disinterested third party, (e.g. in no manner a member of the official family of the division*). The audit should include a careful examination of all banking transactions, inspection of bank statements, a matching of checks drawn against invoices of other instruments of indebtedness, and, of course, the dollars and cents accuracy of the statement. The amount reported on hand as of May 20th must correspond to that reported in the previous year's audit. (*This person does not have to be a CPA, but rather someone to review books objectively s/he should be appointed early in the year.)

SUGGESTIONS

1. Keep the records as simple and complete as total accuracy will permit.

2. Maintain "penny accuracy."

3. Maintain continuity of records. There should be no gaps between the reports of any two succeeding treasurers.

__NOTE__:

Bank accounts should be in the name:

SLA/Advertising and Marketing Division

The Advertising and Marketing Division is a unit of Special libraries Association, which is a not for profit membership association as defined by IRC 501 (c) (6).

MISCELLANEOUS:

1. Send subscription checks returned by the bank for insufficient funds, or for any other reason, to "What's New" Business Manager, with letter of explanation for disposition.

2. Pay bills received form printing and mailing for Membership Directory and for Bulletins.

3. Pay other bills and make disbursements as requested by Division chair.

4. On receipt of monthly bank statement, balance checkbook against statement.

5. Maintain file of bills to authenticate expenditures.

6. Maintain file of bank statements.

7. Deposit to checking account the allotment check for SLA.

8. Enter all receipts and disbursements in account book according to source and disbursement.

9. When funds in checking account become more than sufficient to pay operating bills, project bills and take care of contingencies, transfer excess funds to savings account.

10. Maintain records showing amount in checking account at all times.

11. Obtain signature of Chair for alternate authorization of fund transfer from Divisions accounts.

12. Every three months send the Chair a brief statement of Division's financial status: total amount in checking account, total amount in savings account.

13. At end of two year term, obtain signature cards from Division banks for transfer of accounts to new treasurer's name. Send cards to incoming treasurer.

14. Present annual report at Advertising & Marketing business meeting at the Annual Conference and at the Division's Executive Board meetings.

15. Keep files of all pertinent records.

16. Be prepared to pay any out of pocket (OOP) expenses or bills incurred for Annual Conference at the conference site.

17. Rectify & verify Division conference charges with head auditors and report to chair on status (near fall of conference year).

NOTE: This is a two year term which runs on opposing years to the Treasurer's term of two years.

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