Treasurer Information

treasurer@campwildcat.org

Constitutional Duties

The Treasurer shall keep record of all income and expenses and prepare an annual Camp Wildcat budget (see Article VIII, Section 2); shall, with full understanding of the annual budget and current financial status, make recommendations to the Board of Directors regarding expenditures for special events; shall be responsible for maintaining and controlling all accounts (including copy centers); shall work with the Fundraising Director to coordinate all financial transactions with the Associated Students of the University of Arizona; shall oversee reimbursement, if and only if, expenditures were approved by the Board of Directors before made; shall maintain and understand the fidelity of Camp Wildcat’s non- profit, tax exempt status under section 501(c)(3) of the Internal Revenue Code of 1954 (or the corresponding provision of any future United States Internal Revenue Law.) (see Article II, Section 2); and shall together with the Camp Wildcat Chairperson meet with a representative of University of Arizona Foundation at least once each academic year to understand and ensure that the money in the Camp Wildcat Endowment is being appropriately spent and reinvested according to the Camp Wildcat Constitution (see Article VIII, Section 5).

 

Camp Wildcat's Use of Credit Cards

Camp Wildcat has a merchant account with Wells Fargo Merchant Services that allows us to accept credit card payments at our annual auction or other fundraisers.This card is linked to our checking account.

Therefore, it is very important that if we change checking accounts that the treasurer update Wells Fargo Merchant Services with the new account that credit card money should be sent to.

This merchant (credit card) account was set up by Kirk McGettigan (see the alumni site to contact him) in 2003 so that CW would not have to depend on auctioneer's merchant accounts to accept credit cards. If you have questions about the account, feel free to contact him.

The account is in Camp Wildcat's name and employer ID (tax ID) number. The account carries fees if we want a paper statement of $7.50 per month (we cancelled the paper statement).


For the credit card machine to work, we must have access to a working phone line that can dial 1(800) numbers. Make sure that the room we book for the annual auction has such a phone line at a reasonable price.

A percentage of every transaction that we run on the credit card machine goes to pay VISA or Mastercard. As of 2003 the rates were $0.20 per transaction plus 3.05% of the sale (e.g. on a $100 sale at the auction we would be charged $3.25). This money is automatically debited from the balance in our account, so you don't have to worry about getting a bill from VISA or Mastercard.

Here is the contact information for Wells Fargo Merchant Services:

(800) 451-5817

You need to call this number at least 2 weeks ahead of time to get a machine reserved. They will send a credit card machine to us; the cost is $39 per month. We need to call again to get it picked up but Wells Fargo will pay for it. The machine we have used the past two years is an Omni 3200.

 

The treasurer is in charge of:

Keeping track of all accounts

  • Checking account at Arizona Federal Credit Union
    - making weekly deposits, writing checks etc.
  • Savings account at Arizona Federal Union
  • Endowment (Foundation) Fund Account through the U of A
    - meeting once a year with the people who run the endowment fund to make sure everything is running smoothly. Also keeping an eye on the interest we get off of this account. This is done at the Swede Johnson building on the 4th floor in the accounting department (room 403).

Advising board members on spending

This basically means that the treasurer tells the board what we can spend money on, and how much would be an appropriate amount to spend on various events.

Managing the cashbox

Keeping exact records of how much is put into the cashbox, and taken out of it. It also entails taking money out of the cashbox to deposit into the checking account when more money is in the cashbox than needed.

Paying bills and reimbursement

The treasurer is responsible for paying the Camp Wildcat bills upon receiving the statement from the Secretary. The only regular bill Camp Wildcat gets is the phone bill payed to CCIT, but the treasurer is also responsible for mailing out payment for camp site reservations, insurance policies, and various others. In addition, the treasurer writes checks to Camp Wildcat members for reimbursement (for CW related items) upon approval of the Board.

 

 

Updated by Kevin J. Scott 3 years ago.
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