Treasurer’s Audit Report – July 2010

Report of the Toastmasters Audit Committee

July 16, 2010

Presented by Tom Krauska and Brent Stewart

We have looked at the records maintained by outgoing Treasurer Adam Kutell.

We verified that IRS Form 990-N had been filed.

We noted that all checks had been recorded in the check register but deposits had not.

We reconciled the bank account as of June 30, 2010.  The balance in the Club Checking Account as of June 30, 2010 was $3,389.32.  An old outstanding item of $20 from last fall’s Speech Contest was added back to the balance.

The Club now uses a debit card for transactions with Toastmaster International.  We understand that Toastmasters International prefers that dues payments and other payments to TI be made online and to do so requires a credit/debit card.  The Club adopted procedures for use of the debit card in August 2009.

Incoming Club Treasurer’s should meet with members of the Audit Committee or other members with accounting backgrounds to be trained in proper accounting practices and procedures.

Tom Krauska                                            Brent Stewart

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