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Treasurers Report

Sample Treasurer's Report 

 

SAMPLE TREASURER'S REPORT

Treasurer's Report for the Month of: _____________________________

Cash on hand at the beginning of the month 

Income for the month 

Expenses for the month

Cash on hand

Budget to date

Actual to date

Difference

Financial Commitments

 

 

 

Glossary of Financial Terms


Appropriation: A transfer of net income or equity to a special account or fund, generally to restrict its availability for distribution.

Assets: Monetary or non-monetary items that represent probable future economic benefits controlled by the association.

Balance Sheet: A statement of financial position showing the assets, liabilities, and equity of an association at a point in time.

Budget: A detailed estimate of an association's fiscal plan of action for the next year.

Capital Assets: This term refers to buildings, equipment, etc. which are not consumed or used up in the normal operating process.

Capital Budget: A fiscal plan for the proposed additions to capital assets and their financing.

Cash Accounting: A method of accounting for transactions whereby the transaction is recorded when cash is received or spent.

Chart of Accounts: A list of all accounts in the General ledger with their assigned account number.

Depreciation: An accounting concept which allocates the cost of a fixed asset as an expense over the expected useful life of the asset.

Donations-in-Kind: Gifts in the form of donated goods or services to a non-profit association.

Endowment Fund: Restricted funds from which only the income (e.g. interest) from investing the principal may be spent.

Expenses: Outflows of resources arising from the operation of the association during a period.

Financial Statements: Normally comprising a balance sheet, a statement of revenue and expenses, a statement of changes in financial position, and accompanying notes.

Fixed Costs: Costs which do not fluctuate with volume.

General Ledger: A record of the summarized transactions from all other accounting journals. The balances in this ledger are summarized and grouped to prepare the financial statements. This ledger contains the complete financial history of the association.

Non-Current Assets: Assets which are held for a term greater than a year. Examples include land, buildings, and equipment.

Operating Fund: Consists of unrestricted contributions and day-to-day operating revenues and expenses of the association.

Pledges: Promises to donate funds at a future date(s) to a non-profit association.

Reconcile: To reconcile is to account for the difference between two related records (e.g. account for the difference between the month-end balance on the bank statement and the month-end balance in the accounting records or books of account.

Revenues: Revenues include: income from the sale of goods and services (after deduction of returns, allowances and discounts); gains from sale or exchange of assets; interest and dividends earned on investments; and donations and grants.

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Buffalo Gals

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