[Officers] Fw: Madrone: final draft of Financial Policy
Jason Pfafman
jpfafman at yahoo.com
Wed May 4 14:06:30 PDT 2011
Greetings Wyewood Officers:
The follow is a forward from the Madrone list. The Madrone Exchequer, Lady
Constantia, recently published their branch's proposed financial policy. This
makes for some good reference as we embark on updating our own FP, yet I don't
advocate making ours an exact copy of theirs on all points. However, I do
believe their are some good discussion points that are relevant to our branch
and answer questions that come up from time to time (particularly around
events).
I'll have more to say on the topic within the May Officer Meeting agenda
forthcoming.
Thanks,
Constantine
----- Forwarded Message ----
From: Kelli Bausch <constantia2008 at comcast.net>
To: Bunstable at u.washington.edu; madrone at antir.sca.org; pdl at antir.sca.org
Sent: Mon, April 25, 2011 9:49:01 AM
Subject: Madrone: final draft of Financial Policy
Greetings for the Exchequer!
Below is the final draft for our Financial Policy (including Kingdoms
corrections). We need to have this passed next Curia Meeting to be in
compliance with Kingdom as per our Book Review. Please read and send comments by
Friday, May 6th.
Thank you for your time,
In Service,
Lady Constantia in der Lachun, Madrone Exchequer
BARONY OF MADRONE
FINANCIAL POLICY
Final Revised April 25, 2011
INTRODUCTION
The following Madrone Financial Policy serves as an addendum to the requirements
set forth by the Society for Creative Anachronism, Inc. (SCA) Financial Policy,
and the Kingdom of An Tir Branch Financial Policy. This policy is governed by
Modern Law, Corpora, SCA Financial Policy, Kingdom Law, and Kingdom Financial
Policy. This policy will be reviewed annually in the first quarter, and will be
revised, as needed, to remain in compliance with these superseding documents.
Revisions must be by unanimous consent of the Financial Committee.
Where there are discrepancies, the requirements of these superseding documents
take precedence. All references to amounts refer to U.S. currency.
Funds are to be used to support our 501(c) 3 tax-exempt educational status, and
shall serve a public and not a private purpose. Funds shall not be used
tobenefit private individuals or organizations.
I. REPORTING POLICY
A. Financial reports to the Kingdom.
1. Financial reports will consist of the “Balance Sheet” and “Income
Statement” and the supporting worksheets and documentation contained and
required by the most recent edition of the Society for Creative Anachronism,
Inc., Chancellor of the Exchequer’s Handbook.
2. Financial reports will be submitted to the Kingdom Chancellor of the
Exchequer, or designated deputy, per Kingdom schedule. That schedule is
currently:
January 1 - March 31 due May 1
April 1 - June 30 due August 1
July 1 - September 30 due November 1
January 1 - December 31 due February 1
3. The Exchequer will review the required quarterly reports, including a
copy of the bank statement, with the Financial Committee. The Seneschal shall
sign the original report, if acceptable, and return it to the Exchequer. The
Exchequer will make a copy of the report for each member of the Financial
Committee, and submit the original to the Kingdom Exchequer's reporting process.
Copies will be provided to the Baron, Baroness, and Seneschal of Madrone at the
time of submittal to the Kingdom.
4. Failure to file required reports within 30 days after the end of the
reporting deadline may be grounds for suspension of the branch or other entity
and/or replacement of the Chancellor of the Exchequer.
B. Financial reports to the Barony.
1. Financial status will be reported to the Barony at the monthly
Baronial Curia (business meeting).
2. Monthly Financial reports will consist of:
a. Balances of all Bank Accounts
b. Outstanding deposits and withdrawals
c. Net Balances (adjusted for outstanding deposits and withdrawals) of
all Bank Accounts
3. Financial statements (consisting of the Comparative Balance Statement
and the Income Statement) must be made available to the public at least
annually, whether published in a newsletter or distributed to the membership in
some other form. A copy of this printed statement must also be sent to the
Chancellor of the Exchequer’s superior.
The Exchequer will submit the annual Comparative Balance Sheet and Income
Statement for publication in Madrone’s newsletter, or distribute copies at
Madrone’s next regularly scheduled Baronial Curia (business meeting) following
submittal of the annual report. Any member of the SCA, Inc., upon reasonable
request, may examine the financial records of Madrone at a time and place agreed
upon by the Exchequer and the requestor.
II. FINANCIAL OFFICER REQUIREMENTS
A. All Chancellors of the Exchequer must be paid members of the SCA or
an affiliated organization while they are listed as warranted officers.
B. All Chancellors of the Exchequer will submit evidence of both
personal/legal identification and membership in SCA, Inc. or an affiliated
organization when applying for a warrant. ID issued by a contemporary government
or educational institution is an acceptable form of identification.
C. All financial officers must have an identified emergency deputy. This
emergency deputy must be able to take over all duties and function as the
financial officer upon short notice.
III. SEGREGATION OF DUTIES
A. No one person may be responsible for all aspects of the financial
management of any assets (cash and non-cash assets) held in the name of the SCA.
These responsibilities may include writing checks, balancing bank statements,
and deciding on disbursements of funds.
B. No one should hold more than one office at a time. Any paid member
other than the Seneschal may serve as Chancellor of the Exchequer. The offices
of Chancellor of the Exchequer and Seneschal cannot operate out of the same
residence, or be related by birth or marriage.
C. There can be no co-mingling of SCA funds with the funds of any other
individual, organization or business.
IV. BANK ACCOUNT IDENTIFICATION AND STRUCTURE
A. All funds will be maintained in an account with a recognized banking
institution or credit union. Investment in stocks or financial accounts that are
not insured by the federal government is prohibited without prior written
authorization from the Society Exchequer.
1. For branches within the U.S., the name of the account shall be of the
form ‘Society for Creative Anachronism, Inc. – Barony of Madrone’ and use the
SCA’s federal employer ID number, which is 94-1698556. Bank account
grandfathered in, only if the account needs to be closed then the above will
take precedence.
2. Separate Savings accounts, certificates of deposit or any other
long-term financial instrument must be approved and registered with the Kingdom
Exchequer on a case-by-case basis. This does not apply to savings accounts
linked to the Branch checking account.
B. Entities maintaining funds insufficient to open a bank account shall
either have them kept in another SCA bank account or contact the Kingdom
Exchequer to make other arrangements. Incipient groups may not have independent
monetary accounts (i.e., checking accounts) in their own name. Any monies are to
be held as designated funds by their sponsoring group.
The Barony, through the Exchequer, will maintain accounts for official or
incipient subgroups of the Barony that request or need such services. The
Exchequer may extend this service to other official branches or entities of the
SCA. Inc. but is under no obligation to do so. Generally these accounts are held
within the same physical bank account.
Currently the Barony maintains accounts for the following groups: The Barony of
Madrone, The College of St. Bunstable, and The Madrone Equestrian Guild
C. Two authorized signatures will be required on any check, money order,
or other instrument of withdrawal, whether or not the bank offers signature
inspection.
D. Approved controls on accounts are: requiring two signatures for
withdrawal and providing copies of the reconciled statements for review by
either the branch Seneschal monthly (for branches), or the Kingdom Chancellor of
the Exchequer quarterly where appropriate, or the superior Chancellor of the
Exchequer quarterly; AND/OR having the unopened bank statements sent to someone
other than the Chancellor of the Exchequer who lives at a different address for
initial review.
The bank statement(s) for all of Madrone’s accounts will be sent to box: Barony
of Madrone 12819 SE 38th Street #424 Bellevue, WA 98006. The Seneschal, or other
designated member of the financial committee (other than the Exchequer) shall
retain the key to the P.O. Box, and be responsible for receiving and reviewing
the bank statement. Once the bank statement has been reviewed, it shall be
delivered to the Exchequer, as soon as reasonably possible. The Exchequer will
reconcile the bank statement to the books of account, and provide a copy of the
reconciliation to the seneschal at the next business meeting.
E. Electronic Funds Transfers are not allowed without written permission
of the Society Exchequer for that account specifically.
V. SIGNATORIES
A. All signatories on SCA accounts must be paid members of the SCA, and
must submit proof of personal/legal identification and paid membership when
being added as a signer to the account. A copy of said ID will be forwarded to
the Kingdom Exchequer along with the signature card.
B. At least two people must be signatories on all accounts. Required
signatories on all accounts (subject to financial institution limits in order of
priority:
a. Exchequer of Madrone
b. Contingency deputy exchequer of Madrone
c. Seneschal of Madrone
d. Baron or Baroness of Madrone
e. A previous Seneschal of Madrone
f. A previous Exchequer of Madrone
g. Kingdom Chancellor of the Exchequer or a designated representative.
C. No two signatories on the same account may share the same address, or
be related by birth or marriage.
D. All signatories must be acceptable to the Kingdom.
E. Sovereigns, Consorts, and the heirs of Kingdoms and Principalities as
defined in the SCA Governing Documents are not allowed to be signatories on any
SCA account while they hold that status.
VI. FINANCIAL RECORDS
A. The Chancellor of the Exchequer will maintain permanent books and
records of all financial activity. Detailed records must be maintained and
receipts, disbursements, and contributions specifically itemized. Where a system
is automated, printouts (‘hard copy’) of computerized records will be made as
well as backup files/disks.
B. Internal records must be reconciled to the bank statements received.
In no case shall reconciliation occur less than monthly.
The bank statement(s) for all of Madrone’s accounts will be sent to Madrone’s
Post Office Box:
Barony of Madrone
12819 SE 38th Street #424
Bellevue, WA. 98006.
The Seneschal or other designated member of the financial committee (other than
the Exchequer) shall retain the key to the P.O. Box, and be responsible for
receiving and reviewing the bank statement. Once the bank statement has been
reviewed, it shall be delivered to the Exchequer, as soon as reasonably
possible. The Exchequer will reconcile the bank statement to the books of
account, and provide a copy of the reconciliation to the seneschal at the next
business meeting
C. All records must be retained for at least seven years. These books
and records, as well as all assets, bank statements, other correspondence and
files of an official nature are the property of the SCA. They must be turned
over to the successor officer within 30 days after a person leaves office. If
the materials are not turned over in a timely manner, appropriate action will be
taken.
D. Minutes of Financial Committee meetings and documentation of
Financial Committee decisions are considered financial records.
VII. FINANCIAL COMMITTEE
A. All assets (funds and non-cash assets) held in the name of the SCA
must be managed by a Financial Committee.
B. All voting members of a Financial Committee must be paid members of
the SCA.
C. Financial Committees must have a minimum of three voting members.
The Financial Committee for the Barony consists of the Chancellor of the
Exchequer (1 vote), who will chair meetings of the Financial Committee, the
Seneschal (1 vote) and the Baron and/or Baroness (1 total vote for the
Baronage). All decisions by the Financial Committee are by simple majority
vote, except where noted elsewhere in this policy.
D. Meetings of the Financial Committee will convene quarterly, to review
the Financial Report prior to submittal to the Kingdom Exchequer. Additional
meetings may be called as needed, to ensure the continued smooth operation of
the Barony.
E. Results of Financial Committee meetings will be reported by the
Exchequer at the next regularly scheduled Baronial Curia (business meeting).
VIII. EXPENSE AUTHORIZATION
A. The Financial Committee will develop and propose for consideration at
Baronial Curia, an annual budget for the following year that provides funds for
routine operating expenses, events, special projects/capital improvements, and
reserves. This budget shall take into account current cash reserves, predicted
income, and previous expenses to determine the appropriate funding levels.
B. Annual Budget - During October of each fiscal year, the Exchequer
will begin gathering budget requests from the Baronage, Officers, Guild heads,
and other activity leaders. These requests will be used to develop a preliminary
budget, which will be presented at the November and December Baronial Curia
meetings for discussion and commentary from the populace. The preliminary
budget will also be published to non-attendees through an appropriate
communication process (e.g. newsletter, website, email). The Annual Budget will
be approved by a majority of the paid members at the December Curia meeting.
C. Operating Expenses Budget – This budget will provide for routine
expenses and supplies necessary for the operation of the Barony. Major and
non-recurring expenses will be funded through the Special Projects Budget
below. The Financial Committee will determine what is and is not a major or
non-recurring expense.
D. Event Budget – This provides the seed money for all events for the
fiscal year. Monies for specific events will be approved or denied by majority
vote of the Paid Members of the SCA, Inc., present at Baronial Curia. After the
event, the income from the event will be added back into the General fund, in
order to fund future events.
E. Special Projects Budget – This budget provides for special projects
and capital improvements for the Barony. Specific expenditures will be approved
or denied by majority vote of the Paid Members of the SCA, Inc., present at
Baronial Curia. Once the fund is exhausted, no more special projects may be
approved, without the express approval of the Financial Committee.
G. Between meetings of the Baronial Curia, the Financial Committee, may
approve unbudgeted emergency expenditures. This approval must be unanimous, and
a spokesman for the Financial Committee will report the authorization at the
next regularly scheduled Baronial Curia meeting.
H. No officer of any level has the power to authorize payments that do
not support the SCA’s tax exempt purpose. [Overall guidelines for classes of
expenses are delineated in the Society Chancellor of the Exchequer Officer's
Handbook.] If the reasonableness of any expense is uncertain, the superior
Chancellor of the Exchequer must be consulted prior to any commitment.
I. Fully documented receipts must be provided to support all
expenses.
J. Kingdom and Branch Exchequers are only obligated to reimburse for
receipts presented within 120 days of the expenditure. Reimbursements that
exceed approved budgets, or which have not had prior approval, must be approved
by the financial committee before reimbursement can be made.
K. SCA funds may not be used to reimburse expenses for events or
meetings closed to the general populace unless the events or meetings have a
business agenda which requires limited attendance, such as officer staff
meetings, kingdom councils, and event planning meetings.
IX. EVENTS
A. Event Bid Approval
1. Prospective Autocrats for proposed events must submit the following
information to the Baronial Curia with sufficient lead time to allow for the
approval process:
a. A written description of the event, including activities and proposed
site.
b. A proposed Event Budget, outlining predicted expenses and income for
this event.
c. A list of people that have committed to perform the necessary
functions to put on the event
d. A gate procedure that complies with this financial policy.
2. The event proposal is discussed at Baronial Curia.
3. A summary of the event bidwill be published through an appropriate
communication process (e.g. newsletter, website, email),giving the populace not
in attendance an opportunity to learn about, and comment on the issue.
4. The event proposal is then discussed at the following Baronial Curia.
Based on the commentary from the Barony, funding may be approved or denied by
majority vote of the Paid Members of the SCA, Inc., present at Baronial Curia.
If commentary is insufficient to make a decision, discussion may continue at a
following meeting.
B. The Autocrat may revise the approved budget by up to 15%, as needed,
in keeping with the original goals and projected profit margin. Changes beyond
this scope must be brought to the Baronial Curia, where they will be approved or
denied by a majority of the Paid Members of the SCA, Inc. present at the
meeting.
C. Advance registration/reservation mailings will be directed to the
Baronial Post Office Box:
Barony of Madrone
12819 SE 38th Street #424
Bellevue, WA 98006,
and, all proceeds will be processed by the Baronial Exchequer or warranted
deputy of the exchequer office. Proceeds from advanced registration/reservation
mailings that are received by the Autocrat will be delivered to the Baronial
Exchequer no later than the next Baronial Curia meeting. All proceeds from the
event will be turned over to the Baronial Exchequer no later than 5 days after
the close of the event.
D. The Baronial Exchequer will provide timely event financial
information of total gate income & NMSto the autocrat as requested.
E. Non-Member Surcharge (NMS) shall be collected by the
autocrat/Gatekeeper or their deputy and forwarded with the required statistics
to the Kingdom Chancellor of the Exchequer or their designated Kingdom NMS
Deputy in accordance with Society mandates. Submissions shall be postmarked no
later than 30 days after the end of the event. A submission shall consist of a
properly drafted branch check and a completed submission form with the branch
name, event name, event date, total attendance and number of NMS collected.
Overdue submissions may result in suspension of the branch and/or other remedial
measures as deemed necessary.
F. Autocrats must attend a business meeting within 5 weeks after the
event to present a final event report to the Baronial Curia.
G. Final Event Report copy must be give to the Exchequer for financial
records to be kept for 7 years.
X. SPECIAL PURPOSE AND DEDICATED FUNDS
A. Restricted funds are funds that are raised for a specific purpose (a
bake sale, raising monies for a new baronial pavilion). All restricted funds
will have a fund category of their own and may only be spent for that purpose.
If the funds are not used within three years, they will revert back to the
general fund.
B. The Exchequer may refuse to establish a Fund if in his/her opinion
the Fund doesn't support the group’s tax-exempt status, isn't in keeping with
the goals of the Barony, or has little or no likelihood of achieving its goal.
Except for refusal due to tax-exempt status, this decision may be appealed to
the Financial Committee.
B. Accounting records must support segregation of funds by purpose. When
setting up special purpose/dedicated funds, a primary and secondary purpose will
be established by the Financial Committee. Funds raised will be used for the
primary purpose first. If it is not possible to fulfill the primary purpose or
if there are residual funds, the funds will be directed to the secondary
purpose. If no secondary fund is specified when the fund is established, the
designation will be as follows:
1. All budgeted Monies of the Barony will default to the General Fund.
2. All Funds of the subgroups of the Barony will go to that subgroup's
General Fund.
3. Subgroup Funds will default to the Baronial General Fund upon
dissolution of the subgroup, if the Funds are held by the Barony at that time,
and if the subgroup designates no other Fund.
4. The default for the Baronial General Fund is the Kingdom General Fund
C. The Barony shall maintain sufficient reserves to fund any outstanding
subscription liability for any publicationsthat it produces.
D. Must have sufficient funds to sustain the Barony for 2 years.
E. Donations of vehicles shall not be accepted by any branch of the SCA.
XI. CONTROLLING DISBURSEMENTS
A. No group may maintain a Petty Cash fund under any circumstances.
All disbursements will be made to an entity (individual or business) by signed
checks or traceable money orders.
B. Disbursements in advance of a purchase may be requested in advance
for budgeted expenses.
1. Requests for advance disbursements must be documented beforehand.
2. Requests must be approved by the Financial Committee.
3. Requests will be treated as receivable items until they are
reconciled by presentation of receipts and/or cash totaling the amount of the
advance.
4. Reconciliation of advances must occur within 60 days of the
disbursement.
XII. CONTROLLING CASH RECEIPTS
Cash receipts shall include, but is not limited to: event income of all types,
money collected from advertised fund raising endeavors, donations, money from
the sale of goods purchased with group funds, and newsletter sales and
subscription income.
A. Cash receipts of any type totaling more than $50 must be deposited in
the appropriate account no later than 14 calendar days after the receipt by an
officer of the SCA. Cash receipts of any type less than this limit must be
deposited in the appropriate account no later than 30 calendar days after the
receipt by an officer of the SCA. Cash receipts from events, fundraisers, etc.,
totaling more than $1000 must be deposited in the appropriate account no later
than 5 days from the close of the event by an officer of the SCA. No incoming
funds of any type are to be kept out of the appropriate account longer than
these timeframes. Undeposited income of any type is not to be used for refunds,
reimbursements or expenses.
B. Use of online credit card acceptance services by SCA branches is
prohibited, unless specifically approved by the Society Chancellor of the
Exchequer. SCA branches are not to use the personal credit card acceptance
account of an individual or other business under any circumstances.
C. A paid member of the SCA must be in charge of the gate functions at
any event where money is collected in the name of the SCA. Site owners may
additionally oversee the gate operations, but the final responsibility for the
funds collected in the name of the SCA must remain with an authorized paid SCA
member who does not have a financial or material interest in the ownership of
the site itself.
D. Minors under age 15 may not serve as Head
Gatekeeper/Troll/Reservationist/etc. for an event. Such minors may assist at the
gate collecting funds, making change, etc., under the oversight of an individual
permitted by the SCA’s Corporate Policies to serve as an officer, who will be
ultimately responsible for the accounting of the funds passing through the gate.
XIII. CONTROLLING USE OF ASSETS
A. Baronial Property consists of all items owned by the Barony for the
benefit of the Barony and its members.
B. Baronial property is administered by the Chamberlain, a warranted
deputy of the Exchequer. The Chamberlain must have a signed Financial Warrant
executed by the Kingdom Exchequer and the Crown. In the absence of a
Chamberlain, the duties devolve to the Exchequer.
C. The Chamberlain will ensure that records are kept of all Baronial
property, and where that property is stored. A report on the status of all
baronial property and its location will be submitted at least annually for
publication in Madrone’s newsletter, or distribute copies at Madrone’s next
regularly scheduled Baronial Curia (business meeting) following submittal of the
annual report.
D. Baronial property and files checked out to an officer, or other
individual, must be accounted for at the end of term for that officer or
individual. All Baronial property will be inventoried every year. Reports of
damage too, or loss of, Baronial property should be made to the Baronial Curia.
A written contract for items stored with individuals must be kept on file with
the annual inventory list.
E. Individuals within the Barony may request the use of baronial
property for official SCA purposes provided they demonstrate andaccept
responsibility for the property they desire to use. Such a request must specify
the property to be used, where the property will be stored, and for how long the
property will be used by the requestor. Should a scheduling conflict arise;
official baronial use and baronial events take precedence. Such requests will be
approved by the Financial Committee.
F. The barony currently maintains a commercial storage unit. The
Chamberlain and members of the Financial Committee will each have keys to any
storage unit maintained for the Barony. Keys can be held temporarily by event
autocrats, but only for the duration of the event preparation and follow-up.
Temporary keys will be provided by the Chamberlain upon the direction of the
Financial Committee.
G. TRAILERS
1. All trailers owned by the SCA are to be used for storing and
transporting SCA property to and from SCA functions. Trailers owned by the SCA
may not be used for strictly personal purposes by the members of the branch.
2. Anyone towing a trailer owned by the SCA or one of its branches shall
be a member in good standing, and tows the trailer at their own risk.
3. Agreements to store and tow the trailer must be made in writing in
advance between the member storing or towing the trailer for each trip and the
branch owning the trailer. Each agreement should include specifications of
timeframes and calculation for any expense reimbursement. Each trip should be
considered round-trip, and the member towing the trailer is responsible for its
return at the end of the trip, unless otherwise specified in the agreement.
4. Trailers must always be loaded in compliance with the trailer's
maximum gross trailer weight rating, maximum tongue weight rating, and load
balancing instructions. Trailers must be attached to a towing vehicle rated for
that type of trailer. Trailers must be attached using all legally required
attachments and restraints and working electrical connections.
5. If there is available capacity in the trailer after the branch
property is loaded, and there is desire to transport additional personal
property in the trailer, it is allowable that additional personal property owned
by branch members is placed in the trailer. Any personal property is loaded into
the trailer at the property owner's risk.
XIV. PROHIBITED ACTIVITIES
A. RAFFLES
Interstate raffles are prohibited. Raffle tickets may not be sold in localities
where such a sale would conflict with contemporary law.
B. FIREWORKS
The purchase, ownership or sale of fireworks is prohibited.
XV. In recognition of its feudal obligation, Madrone will as part of the annual
budgeting process discuss a tithe of up to 10% of its net gain for the completed
year, to the branch to which it is subordinate, subject to the approval of the
Paid Members of the SCA, Inc., in attendance Baronial Curia. If there is no net
gain, no tithe shall be made.
XVI. Approval – The members of the Financial Committee attest that this
Financial Policy was approved by the Paid Members of the SCA, Inc., in
attendance at the Baronial Curia meeting on the date noted below.
Chancellor of the Exchequer - Constantia in der Lachun:
____________________________________________ Date _______
Seneschal - Geneviève Marie Étiennette de Montagne:
_____________________________________________Date _______
Baron - Edward Cire of Greymoor:
____________________________________________ Date_______
Baroness - Elisabeth de Rossignol:
_____________________________________________Date ______
End.
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