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Financial Matters Ron Ferrill, District Treasurer 2013 PETS

Financial Matters Ron Ferrill, District Treasurer 2013 PETS. Clubs in D7570 need to tend to financial requirements. Why should a Club President have to worry about such matters? “There is a Treasurer who takes care of all financial details”, but

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Financial Matters Ron Ferrill, District Treasurer 2013 PETS

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  1. Financial Matters Ron Ferrill, District Treasurer 2013 PETS 2013 District 7570 DTTS

  2. Clubs in D7570 need to tend to financial requirements 2013 District 7570 DTTS

  3. Why should a Club President have to worry about such matters? • “There is a Treasurer who takes care of all financial details”, but • Club President is ultimately responsible for all matters in the club – to assure that all matters are handled properly and in a timely manner 2013 District 7570 DTTS

  4. Two Areas of Focus • Rotary International • District 7570 2013 District 7570 DTTS

  5. Rotary International • Semi-Annual Dues (i.e. twice a year – every six months) • Components (2010 MOP RI Bylaws art. 17): • Dues > $26.50 per member [note: - 10 member minimum] - prorated for part year ] • Rotarian Magazine > $6.00 per member • Liability Insurance > variable rate for clubs $0.11 per member for Martinsville RC • Council on Legislation fee > $1 per member per year, payable July 1 2013 District 7570 DTTS

  6. Rotary International • Other considerations • Membership as of June 1 & December 1 • Payments due July 1 & January 1 • Methods to pay: • Invoice mailed to club secretary, develop worksheet, mail in worksheet with check, or • Go to www.rotary.org (member access) • assure accuracy of roll & review invoice • Pay on line by credit card or • Print invoice and mail, with check • mail in worksheet 2013 District 7570 DTTS

  7. District 7570 • One payment > $23 per member plus • $35 per club for database/website maintenance fee No connection with RI Semi Annual Dues 2013 District 7570 DTTS

  8. District 7570 • Procedure: • Membership as of September 30 • Invoice to club Treasurers by November 1 (Pmail) – copy to Presidents and Secretaries • Payment due December 1 • If payment not received by January 1, 5% penalty added • Auto debit option available 2013 District 7570 DTTS

  9. Rotary District 7570 Enrollment of Clubs in Electronic Dues PaymentsClub Responsibilities: 1. Complete “Authorization to Collect Dues via electronic Debit” form and secure Club Board of Directors approval 2. President and Treasurer must sign completed “Authorization to Collect Dues via Electronic Debit” form 3. Attach a “voided”check or deposit ticket to the completed form 4. Mail or email completed form “voided” check or deposit ticket to the District Treasurer: Ron Ferrill 917 Hunting Ridge RoadTreasurer – District 7570 Martinsville, VA 24112-5619 Email: jrfrose@comcast.net 2013 District 7570 DTTS

  10. Electronic Dues Payments (cont) Club Responsibilities: (cont) 6. Club Treasurer to maintain a copy of transmitted form for Club files.7.   Club to make certain funds are in account to be electronically debited on or before December 1st.8.   “Authorization to Collect Dues via Electronic Debit” instruction will remain in force until Club rescinds the authorization.9.    New form must be completed and transmitted whenever Club changes bank accounts - inform District Treasurer whenever banking accounts change.District Responsibilities:11.  Send Club President, Secretary, and Treasurer annual invoice for Club Dues in October.12.  Send notifications to Club President and Treasurer when electronic debit will be charged to the Club’s bank account. 13.  Execute electronic debits to Clubs’ bank accounts via District’s banking organization.14.  Follow up with Clubs that have insufficient funds to cover electronic debit. 2013 District 7570 DTTS

  11. Club Enrollment To Date Richlands Buchanan Russell County Wytheville Morning Bluefield Woodstock Bristol Morning Clarke County New Market Floyd County Johnson City Radford Noon Rocky Mount Woodstock Buena Vista Greeneville Morning Strasburg Forest Abingdon Bedford Bridgewater Buchanan

  12. Questions? 2013 District 7570 DTTS

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