New Class Officer Training

Managing the class treasury

September 10, 2011 Danielle Germain

What is the class treasury?• It’s a checking account used to cover class

operating expenses

• It pays expenses approved by the class board

• It should offset class-sponsored activities and projects that are open to the entire class If the event is not open to the entire class, the

treasury should not be subsidizing the event

How is the class treasury funded?

MHC Class

Treasury

Dues Class

Approved Fundraising Activities

More about class dues• Dues are paid in 5-year increments.• The Class Treasurer is responsible for

collecting dues and for the overall well-being of the class treasury

• The Treasurer should work with other officers to set dues level for the next 5 years prior to each reunion

How do we collect the dues?

• Collecting dues at Reunion is the most effective

• 5-year dues should be a minimum of $35.00

• Classmates who pay dues in cash should be issued a receipt

• Set up a class PayPal account before reunion for the easiest payment transaction

Financial Reporting of treasuries

to the Alumnae Association• Treasurers are responsible for: Preparing a financial report at the close of each

fiscal year (June 30)

Filing annual financial reports (including Schedule C) with the Alumnae Association by August 30th

Having the books reviewed every 5 years

Saving copies of financial reports, class books, receipts and documentation for 7 years

How much money should be in my class’s treasury?

• Try to keep around $5k in your treasury This will cover mailings and other activities such

as birthday cards, memorials, scholarships etc.

• The 25th and 50th reunion classes should plan carefully Evaluate your Treasury at 20th and 45th reunion 25th and 50th reunions have high attendance. Plan

ahead They usually have special projects that are

expensive

Can we invest the money in our treasury?

• Besides a checking account which is mandatory, treasurers may: Open a savings account Invest class money in a Certificate of Deposit Invest in any instrument that has a guaranteed return

of the principle

• No class money may be invested in the stock market or any other at risk financial entity

• The Treasurer and President have fiduciary responsibility for all the class funds. 

Money? What money?Ideas for increasing

treasuries• When dues don’t cover class expenses, get creative Organize a telephone campaign to collect dues.

Increase dues and solicit differential from those who have paid and full amount from others who have not

Hold class functions such as a luncheons or mini-reunions and use these events to raise money

Design a class item to be sold to all classes and clubs through the Quarterly and through emails.

Guidelines for Mini-reunions• They should be revenue neutral (i.e. break

even). Any ‘profit’ should be contributed to the treasury

• If mini-reunions are planned regionally for the entire class, class funds can be used to defray cost with Class Officers’ approval.

• It is not appropriate to use class funds for small exclusionary groups that are not open to all.

It’s time for reunion.

Now what?

Treasuries can be used to supplement the cost of Reunion

• The treasury can be used to defray costs of items since it benefits the entire class

• Use funds to defray specific costs such as:• Reunion mailings• Reunion committee administrative expenses• Honorary guests (meals, accommodations, etc.)• Reunion scholarships• Gifts• Large projects that exceed standardized fees

During Reunion, Treasurers and Treasuries are key

Leading up to Reunion, class treasury pays up front costs of all reunion expenses

Treasurer responsible for recording all reunion transactions and closes books with Reunion chair

Treasurer presents preliminary financial report at Reunion

Checks from AA for registration fees collected are sent to class treasurers in late May and June

Guidelines for Scholarships

• Many classes offer scholarships for reunions to members who cannot afford the proposed charge

• Your Class Board determines if scholarships are feasible and the process for distribution

Resources

• To learn more about your role, review the Class Officer Handbook http://www.alumnae.mtholyoke.edu/pdf/volres/coh.pdf

• To learn more about the Alumnae Association’s resources, follow the link below http://www.alumnae.mtholyoke.edu/volunteers/res/classes/