JOB DESCRIPTION

TREASURER – SUNBELT TOURNAMENT

 

The Tournament Treasurer safeguards the cash assets of the Pueblo Rangers Sunbelt Tournament held currently in 3 bank accounts at Vectra Bank:

 

  1. CD – This 3 month CD matures approximately the 20th day of these months:  March, June, September and December.  Money invested in the CD cannot be withdrawn without penalty before the quarterly maturity date.  Therefore, when funds are needed in excess of the money market and checking account balances, plan ahead!  The CD reinvests automatically if Vectra is not notified of any changes.  This account is reconciled quarterly upon maturity date.

 

  1. Money Market – This is a checking account that pays interest.  The money market funds are always available.  I tried to keep $10,000 in this account.  This money is liquid to cover unforeseen expenses, but still earns interest. 

 

However, a $2000 balance must be maintained in this account in order to avoid a monthly service charge of $15.  At these record low interest rates, $10,000 earns about $2.25 monthly interest.  Therefore, should the balance of this account drop below $2,000, immediately withdraw the remaining funds and close this account.    Funds withdrawn from this account should be immediately deposited in the checking account.

 

This account is reconciled monthly when the bank statement arrives.   During these months of low interest rates, there is generally no activity in this account except for earned interest.

 

  1. Checking – This account sees lots of activity.  The treasurer writes and posts the checks to this account.  The treasurer is responsible for obtaining and filing adequate documentation for each check written. 

 

The treasurer makes and posts all the deposits to this account.  The treasurer reconciles this account monthly when the bank statement arrives.    All Tournament accounts are currently kept in QuickBooks 2000.

 

Tournament Responsibilities:

The treasurer plans for funds needed at each tournament site for referee pay, concessions and raffle.  A copy of the calculation worksheet from 2003 is attached.  The treasurer withdraws these funds on Thursday before the tournament and delivers these to the site directors at registration.  Funds are collected back from the site directors at the Sunday night meeting following the close of the tourney.  Monday, the next day, the treasurer counts and redeposits all the cash. 

 

Sponsor Responsibilities

The treasurer maintains an accurate record of cash and in-kind contributions received from sponsors, and commission paid for these contributions.   The treasurer calculates commissions and pays the marketing rep from the checking account.    A copy of the 2003 Sponsor worksheet is attached. 

 

Rangers Office Operating Expenses

Twice annually, on February 1st and August 1st, the treasurer deposits a specified amount into the Rangers Operating Account at Sun West Educational Credit Union. 

 

Reporting

The treasurer discusses account balances with the Sunbelt Committee at each meeting.  Periodically, the treasurer distributes the Tournament Profit and Loss statement to the committee and discusses.  Currently, a tournament year runs October 1 through September 30.  Results are reported on a tournament year basis to the Sunbelt Committee.

 

At the end of each month, before the Ranger Board meeting held the first Wednesday of each month, the treasurer prepares a calendar year to date balance sheet and income statement and emails these to the Ranger treasurer.  All Sunbelt accounts are part of the larger Ranger organization, and the Ranger treasurer uses Sunbelt results to report the entire club’s operating picture.