Transcript Running a Little League

Little League
Treasurer
What am I supposed to do
and when do I do it?
You Should Have
A Copy of the Latest
“Little League Operating Manual”
(the White Book)
You should be FAMILIAR
with the “Rules and Regulations
of Little League” – especially the
portion of the Operating Manual
on Accounting Procedures /
Finances.
What’s Next?
If you don’t have a copy of
“A Year in the Life of
Hometown Little League”
GET ONE
A copy can be downloaded/printed from
www.littleleague.org
If you’ve got a copy,
READ IT
Keep it as a Reference
What Does the LL
Say my Job is?
Treasurer
The treasurer signs checks co-signed by
another officer or director (or as directed
by the local league’s constitution),
dispenses league funds as approved by the
board of directors, reports on the status
of league funds, keeps local league books
and financial records, prepares budgets,
and assumes the responsibility for all
local league finances.
What Do I
REALY DO?
The Treasurer:
Maintains all League Financial
Records
Is Responsible for the League
Assets (ALL Assets, not just the bank account)
Prepares the annual BUDGET
(final approval by the BOD)
Makes MONTHLY Financial
Reports to the Board (should provide a
copy of the latest bank statement with each report)
What Do I
REALY DO?
The Treasurer:
Deposits ALL Funds received
into the League Bank Account
Pays all League Bills by Check
(Cash payments should not be made – all bills should
be paid by check and should only be paid when a
proper bill/receipt is presented)
Co-Signs all League Checks
(checks should have two BOD signatures – preferably
not a husband and wife, to eliminate any rumors of
impropriety or conflict of interest)
What Do I
REALY DO?
The Treasurer:
Maintains records (receipts) of ALL
Financial Transactions
Assures all Concession Stand
Income is properly counted
(preferably by two people) and
deposited into the League Account
(Concession Stand Income (cash) should be collected and counted
nightly – large amounts of cash should not be left in the cash
box/ concession stand)
Assures all Fundraising monies are
properly counted (preferably by two
people) and deposited into the
League Account
What Do I
REALY DO?
The Treasurer:
Prepares the year end Financial
Report and provides for an
independent Audit of the Report
(the Audit may be done by several BOD Members (not the
Treasurer) but it’s recommended that an independent
Auditor/CPA be used – you may have one as a Parent!!!)
Provides a copy of the final
audited report to the DA
Prepares/Files the 501(c)(3) Tax
Report/Paperwork
Your Job –
in 25 Words or Less
Make sure that all
league Financial
Transactions are
PROPERLY
CONDUCTED and
RECORDED
and that periodic
Financial Reports are
provided to the BOD
ANYTHING
ELSE?
You Should:
Attend ALL your league
BOD Meetings
Be the FOCAL POINT
for INFORMATION
about the Financial Status
of your League
Got a Problem
IF YOU NEED HELP,
ASK FOR IT
The Regional and
District Staffs
are comprised of
individuals who have
EXTENSIVE EXPERIENCE
in Little League
They are
READY TO HELP