District Team Training Seminar Treasury & Finance

1. District Team Training SeminarTreasury & Finance Steve Lilly Assistant District Treasurer Assistant District Governor Area 10 Rotary District 7570

2. District Budget Formulation • DGE is responsible for developing the District’s budget • DGE consults with the Finance Committee, Committee Chairs, and AGs • Cost and revenue estimates must be developed from mutually agreed upon premises - not just historical data • Budgeting premises must be documented and rationalized • Proposed budget, developed by the DGE and presented to the Finance Committee • Final budget proposal - subject to approval at District Assembly • Finance Committee oversees collections and payments in relation to the approved budget and reimbursement policies Rotary District 7570

3. Reimbursement/Payment Policy • Adhere to established budget as approved • Un-spent budgeted funds do not carry over from year-to-year • Reimbursements and payments outside agreed upon budgeted items must be pre-approved by the Finance Committee before payment is made • Reimbursement Forms must be approved by District Committee Chair or District Governor • Reimbursements will not be made without completed Reimbursement Form, receipts, & appropriate authorization • Policy prohibits Committee Chairs being reimbursed for mileage • Pre-approved by the Finance Committee (if not in budget) Rotary District 7570

4. Reimbursement Voucher http://www.rotary7570.org/ Rotary District 7570

5. AG’s - Dues and Collection • RI dues are payable July 1st and January 1st • $25.50 per half per member • Follow up with clubs for timely payment • District Dues are payable December 1st • Invoiced November 1st based on September membership • $23 per member annually • Delinquent if not paid by December 1st • Late payment penalty of 5% if not paid by January 1st • Electronic Payment Rotary District 7570