Make an annual review of the financial records of the Chapter for completeness and accuracy.
The Committee shall consist of a Chair appointed by the President. The Chair may seek assistance from the Executive Committee or other Chapter members as the Chair deems necessary.
- Review the written procedures for the Secretary-Treasurer’s responsibilities in handling the financial records of the Chapter.
- Obtain copies of the previous year’s financial records and annual financial report from the Secretary-Treasurer, including all bank records and any other receipts noted in the records.
- Review the records to assure all charges to the Chapter accounts are reasonable and proper; that all income is properly recorded; and that the accounts balance at the end of the fiscal year.
- Prepare a letter to verify that an audit was conducted, and indicate the results of the audit. If any discrepancies are found, they should be listed in the letter along with any possible causes, and recommended action to be taken. The letter should be directed to the President for action, and then returned to the secretary for attachment to the records.
- A copy of the audit letter should be given to the Executive Committee.