6. Comments: The Exchequer is still working account(s) and report actions with Brothers E. Johnson with strong support from Brother Aaron Giles. Several requirements to include the internal audit (conducted during the FY 12-13 summer periods), reconciliations, account management and procedures will be completed after the off-site session. It is still our intent to change our current account from a personal account to a business account. This change will provide the Chapter with the flexibility to manage accounts, obtain a credit card, and received a higher annual percentage yield for fenced funds. Monthly reports will be provided to the Audit Committee for review and approval. These reports are intended to ensure that the required spending regulations are being adhered to, and to make any adjustments in regular payments to account for budget shortfalls or other financial requirements. The Audit and Finance committees will conduct monthly internal audit to verify compliance. All reports are available as standard reports using the Micro-soft office suite. The chapter will change over to the Quick Books accounting system for this FY 13-14 to be in compliance with the Eastern guidance. The committee is open to the membership of the chapter and support is Province’s always needed to meet the execution requirements of this activity for the FY 13-14. 7. 2013-2014 Budget: Contingency Fund - $500.00 (same as last year) BOD Recommendation: Approved ______ Disapproved ________ Tabled _____________ Budget - Current Year 2013 - 2014 D-8 LONG RANGE PLANNING COMMITTEE
6. Comments: The Exchequer is still working account(s) and report actions with Brothers E. Johnson with strong support from Brother Aaron Giles. Several requirements to include the internal audit (conducted during the FY 12-13 summer periods), reconciliations, account management and procedures will be completed after the off-site session. It is still our intent to change our current account from a personal account to a business account. This change will provide the Chapter with the flexibility to manage accounts, obtain a credit card, and received a higher annual percentage yield for fenced funds. Monthly reports will be provided to the Audit Committee for review and approval. These reports are intended to ensure that the required spending regulations are being adhered to, and to make any adjustments in regular payments to account for budget shortfalls or other financial requirements. The Audit and Finance committees will conduct monthly internal audit to verify compliance. All reports are available as standard reports using the Micro-soft office suite. The chapter will change over to the Quick Books accounting system for this FY 13-14 to be in compliance with the Eastern Province’s guidance. The committee is open to the membership of the chapter and support is always needed to meet the execution requirements of this activity for the FY 13-14. 7. 2013-2014 Budget: Contingency Fund - $500.00 (same as last year) BOD Recommendation: Approved ______ Disapproved ________ Tabled _____________ Budget - Current Year 2013 - 2014 D-8 LONG RANGE PLANNING COMMITTEE