North Channel Yacht Club Membership Roster 2022

I.

Shall turn over to a successor, promptly upon retirement from office, all records, accounts, supplies and funds belonging to the Club.

Section 7. Treasurer.

A.

Account for all sources of Club income through oversight and supervision of collections and pay all authorized amounts. All major expenditures are to be budget appropriated or shall have had prior authorization from the Board of Directors. Keep cash accounts current, reconciled, and preserve and maintain proper voucher files and supporting documentation for all payments from and charges to each such bank account. Prepare and present monthly cash basis financial statements to the Board of Directors and make available for membership review the same such information on the Club’s official Website. Inform the Board of Directors of any financial irregularities identified in the Club’s financial affairs and ensure proper financial controls are maintained. Prepare and file with the proper regulatory authority all financial returns, reports, forms, etc. as required including: 1. Monthly State Sales and Use Taxes. 2. Annual Federal Tax 990 Return. 3. Ad Valorem and Personal Property Taxes. 4. Michigan Liquor Control Commission License renewal and audit. 5. State Charitable Gaming License Prepare and present financial reports or other similar matters as required by the Board of Directors or Flag Officers including projected operating and improvement budget at any special 42

B.

C.

D.

E.

F.