Mock City Chapter of AACN

1
Understanding Chapter Financials Presented by
Denise Bonura-Henry Kathy Peck
2
Chapter Treasury

• Treasurer supervises all chapter financial
  transactions
• Plan
• Transition
• Treasurer-Elect
• Records and processes
• ..BUT

3

• The treasury is owned
• by the entire
• chapter board!

4
Chapter Financial Workbook

• Rules
• Comprehensive document
• www.aacn.org gt chapters gt chapter resource center
  gt chapter resources gt chapter financial workbook

5
Monies

• Received
• Receipts
• Cash receipts record
• Deposit

• Spent
• Checks
• Debit cards
• Credit cards

6
Financial Reporting

• Quarterly
• Non-Employee Compensation
• Chapter Audit
• Records

7
Mock City Chapter of AACN
Disclaimer The scenario that follows contains
excerpts of real events from real chapters but
are not representative of any one chapter.
8
Mock City Chapter of AACN

• No transition process in place
• New fiscal year started
• Past treasurer relocated

9
Mock City Chapter of AACN

• 1st board meeting
• Treasurer 2nd and 3rd board meeting attendance
• President action after 3rd board meeting
• 4th board meeting

10
Mock City Chapter of AACN

• Presidents actions and findings
• Action plan development and execution
• Outcome

11
Red Flags

• No transition plan in place
• ATM cards
• Checks made payable to the order of "CASH"
• Lack of communication / lack of attendance
• Prepayment of scholarship funds

12
Lessons Learned

• Chapter Financial Workbook
• Board
• Chapter in Good Standing Policy
• Resources