Minding the Money

The committee members most responsible for the branch finances are the CISTEOIR (TREASURER) and the INIÚCHÓIR (AUDITOR)

CISTEOIR • TREASURER

The Treasurer is at all times responsible to fellow officers and members for the financial affairs of the Branch. The Treasurer’s main duties are to:

Receive and record all monies acquired by the Branch.
Lodge all monies received in a Bank Account agreed by the Branch.
Record all payments made from Branch finances.
Be in a position to give the current financial position of the Branch at each meeting.
Prepare a Financial Statement at least two weeks prior to the Branch AGM and submit it to the Auditor for scrutiny and signature. Present a copy of it to each Officer and member at the AGM, in accordance with the Bunreacht.
The Financial Statement should be entered into the online membership website, then printed and signed by the treasurer and the auditor. Three copies are sent to the County Board.
Devise ways and means of augmenting the finances of the Branch.
Manage a General Cash Book and Petty Cash Book. For the General Cash Book it is recommended that either an Analysis Book or Computer Excel Spreadsheet is used. The extra columns in the Analysis book can be used to record the items of cash received and paid out under various headings. The front of this book may be used for ‘Income’ and ‘Lodgements’ and the back portion may be used to record payments made, listing the details of cheques etc. The Petty Cash Book may be a smaller type book, recording small items of cash paid out. From time to time these amounts should be totalled, and a cheque written for ‘Cash’ for the amount in question.
To be familiar with different methods of online banking and banking software to make transactions more effective and efficient.

RÁITEAS AIRGEADAIS / FINANCIAL STATEMENT
When preparing the annual Financial Statement, please bear in mind that it should be in two parts.

Cuid a haon/Part one:

All items of Income during the year should be listed in one column and all items of Expenditure in the other
Having subtracted one from the other, if there is a profit, this should be inserted at the bottom of ‘Expenditure’ to balance the total with the total of Income. If there is a loss, this should be recorded at the bottom of ‘Income’
PROFITS or BANK BALANCE FROM THE PREVIOUS YEAR SHOULD NOT BE INCLUDED AS INCOME IN THE CURRENT YEAR

Cuid a dó/Part two:

List the total of Assets or Liabilities brought forward from the previous year. Having added or subtracted the profit or loss brought forward from Part One, the present Assets/Liabilities should be detailed as: Cash in Bank, Cash on hands, Investments, Trophies, Musical Instruments, CDs, DVDs, Office Equipment – computer, photocopier etc.
Both the Cisteoir and Auditor shall sign and date the Financial Statement indicating Bank Account details (name of bank and account numbers)

INIÚCHÓIR • AUDITOR

The Auditor should make himself/herself available to the Treasurer at all times, but especially prior to the AGM. Before signing the Financial Statements, he/she should scrutinise:

All items of Income and Expenditure in the General Cash Book
All items in the Petty Cash Book
Ensure that the total lodgements agree with the total receipts
Check the Bank Statement against the record of expenditure
Ensure that the Financial Assets as shown on the financial statements tally with the total on the Bank Statement and the statement on the membership website