Treasurer

Term of Office: 

Three years; elected in the year following the election of the secretary. The office is assumed on January 1 of the calendar year immediately following election by the full and national affiliate members of the Division.

Responsibilities: 

The primary responsibility of the treasurer is to coordinate and monitor the financial activities of the Division, to accurately maintain the Division financial records, and to report on the financial health of the Division to the Division Executive Committee, Division members, the IRS, and to the Society. The treasurer fulfills his or her responsibilities through exemplary performance of the following activities:

  • Receive all payments due to the Division.
  • Deposit dues payments sent directly to the Division and submit of the payee's name and address to ACS Member and Subscriber Services for inclusion in the Division membership records.
  • Pay all duly authorized bills for the Division.
  • Maintain and ensure the accuracy of all Division financial reports.
  • Maintain the Division checking and savings accounts in any bank(s) convenient to the treasurer. The treasurer and the Division chair are authorized to make withdrawals by signing checks against the Division accounts. Checks are to be endorsed as follows: For deposit only, Division of Chemical Education, American Chemical Society, followed by the treasurer's signature and title. Maintain accurate account records, showing the source of all receipts and bills and the reasons for all expenditures.
  • Complete and return to the ACS Office of Divisional Activities the ACS form requesting the price of Division membership for the following calendar year after discussion at the Division's spring Executive Committee meeting.
  • In conjunction with the Finance committee recommend investment strategies to the Division Executive Committee.
  • Manage Division Investments and report on their status in interim Division financial reports issued semiannually to the Division Executive Committee.
  • Attend the Division Executive Committee meetings and the Division business meeting to report on Division Finances; attend any other official Division meetings at the request of the Division chair.
  • Attend the Division officers' training conference in the year that Division treasurers are invited.
  • Attend Division treasurers' forum scheduled at national meetings of the Society by the ACS Committee on Divisional Activities.
  • Attend the meetings of the Division Finance Committee.
  • Obtain financial reports from all Division reporting entities including the Journal, the Exams Institute, and 2YC3.
  • Prepare the Division annual financial report and circulate copies to all Division officers, allowing sufficient time for review and changes prior to on time submission of the report to the ACS Office of Divisional Activities by March 15. The report should be written in collaboration with those who served as Division chair and secretary during the year that the report covers. Note: The Division annual financial report is written by the person who served as treasurer during the year covered by the report.
  • File the Division's annual federal income tax return on or before the due date, usually May 15. Refer to the most current edition of the Information Digest for Division Officers for examples of income tax forms, due dates, etc.
  • Obtain the financial reports for all Division technical programs within 90 days after the meeting; issue appropriate tax forms to all speakers, awardees, etc., who received Division payments in excess of $600.
  • Initiate the annual audit of the Division's financial records.
  • Upon completion of term of office, transfer all relevant files to the incoming treasurer and forward to the Division secretary all original documents of potential long-term value that are not required in the fulfillment of the treasurer's duties and responsibilities.
  • Perform other duties as prescribed by the Division bylaws.
  • Draft check to cover advance payment for upcoming BCCEs when requested by secretary.
Timetable: 

January:

  • Attend the Division officers' training conference in the year that Division treasurers are invited. Draft Division annual financial report, if responsible. The Division annual financial report is written by the person who served as treasurer during the year covered by the report. Issue IRS form 1099-MISC to all individuals who received Division payments in excess of $600 in the prior calendar year (speakers' honoraria, awards, etc.). Contact Division Audit Committee to begin audit of Division financial records.

February:

  • Circulate the Division annual financial report (or ensure that the immediate past treasurer circulates the report) to the current Division chair, to the Finance Committee, and to all Division officers who served during the year that is covered by the report to ensure the accuracy and comprehensiveness of the report. Make changes to the report as required. Supply unaudited Division financial records to the Division Finance Committee upon request. Submit items to the Division chair for inclusion on the spring Executive Committee agenda.

March:

  • Upon approval of the Division chair, submit the Division annual financial report to the ACS Committee on Divisional Activities on or before March 15th. Prepare Division financial report for presentation at the Division Executive Committee meeting to be held at the spring national meeting of the Society.

March/April:

  • Present Division financial report at the Division Executive Committee meeting and at the Division business meeting. Attend forum of Division treasurers, if scheduled by the ACS Committee on Divisional Activities. Attend Division Finance Committee meeting, if held.

April:

  • Prepare the Internal Revenue Service forms and submit them to the district director of Internal Revenue on or before May 15. Refer to the most recent edition of the Information Digest for Division Officers for sample forms, examples, and general information.
  • Issue checks reimbursing approved Executive Committee expenses for attending national meeting.

July:

  • Submit items to the Division chair for inclusion on the fall Executive Committee agenda. Distribute the agenda and schedule for the Finance Committee meeting to all committee members, if scheduled for the fall national meeting of the Society.

July/August:

  • Prepare Division financial report for presentation at the Division Executive Committee meeting to be held at the fall national meeting of the Society.

August/September:

  • Present the draft Division budget for the following calendar year at the Division Executive Committee. Present Division financial report at the Division Executive Committee meeting and at the Division business meeting. Attend meeting of Division treasurers, if scheduled by the ACS Committee on Divisional Activities. Attend Division Finance Committee meeting, if held.

October:

  • Submit label requests to the Division secretary for Division mailings scheduled for the following calendar year.

December:

  • File bank signature cards for the incoming Division chair so that he/she can sign checks while in office. If completing term of office as treasurer, file bank signature cards for the incoming treasurer. Forward to the Division secretary any documents of potential long-term significance to the Division that are not needed by the treasurer in the fulfillment of his/her duties. Begin preparation of Division's annual financial report. Remember: The Division's annual financial report is written by the person who served as treasurer during the year covered by the report.