TRC Accounting Rules

TRC Accounting Rules

This is a draft statement of the rules and requirements for the TRC Treasurer budgeting process and monthly accounting.

Budgeting

With the Bylaws amendment from 2006, the requirement was added that TRC go through an annual budgeting procedure. The most effective way to implement this is to subdivide revenues and expenditures into various categories, figure out what the revenues and expenditures will look like month-to-month based on reasonable assumptions, and then keep track of actual revenues and expenditures and report them to the Board on a monthly basis. Note that it is important to keep track of whether revenues come from members or non-members to comply with the 501(c)(7) requirements on how much revenue may come from non-members.

Revenue Streams

The basic revenue streams are:

Memberships

The membership fee charged to each member

Member entries

Members who run a rallye

Non-member Entries

Non-members running a rallye

Expense Streams

As always, there are many more expense streams than revenue streams. It feels like that at home, too, doesn't it?

Awards

TRC gives out awards at each rallye, this is where they're accounted.

Donation

TRC will, from time to time, make donations to various charities. Examples include the Toy Rallye if someone gives us a cash entry instead of a toy or makes an additional donation, or (new this year), the Board decided to donate the proceeds from Monster Mash 2007 to the Breast Cancer 3-Day.

Equipment

Upkeep of the marker tools, timed checkpoint kits, and other such equipment.

Fees

PayPal charges a fee for accepting payments over their service. Any other fees relating to revenue should go here as well.

Gasoline

This may become "Vehicle Expenses" for the 2008 budget. TRC will reimburse (FOB Larry's Auto Works?) for expenses incurred while creating a rallye.

Insurance

Our single-largest expense item. Each event must have at some amount of general liability, determined by the board.

Legal

Legal filing fees, almost always paid to the CA Secretary of State for the various biennial statements. Should the need arise for TRC to retain counsel, this would be the place to expense it.

Misc

Everyone's got a misc budget line. This is $20 per rallye that can chalk up strange expenses (for example replacing a worker's clothing that was damaged at a CP by a required item).

Office

Mailing labels, card stock for CMs, pens, staples, duct tape, etc.

Par Plaques

Expenses related to the creation of the participation plaques. Usually the magnets and other special supplies. Printing for the par plaques should probably go here, rather than "printing".

Postage

Self-explanatory.

Printing

Because a large chunk of TRC expenditures are on printing, this is a separate item from office. The printing reimbursement rate covers paper and toner for a high-end desktop printer. Higher-volume devices will be less per page, lower-end more.

Promotional

TRC does various giveaways throughout the year, including the membership rallye items, TRC 25th Anniversary jackets, and the like.

Refund

$2 per rallye to potentially refund to an entrant that wants their money back for whatever reason.

Revenue Sharing

The TRC Board may agree to share revenues with rallyemasters for their events. This needs to be arranged well in advance.

Monthly Reporting

In addition to an update on the budget and how the club is tracking to the forecast, the monthly report includes:

• A summary of cash on hand, including the checking account, PayPal account, and cash in the start box, at both the start and end of the reporting period.
• A summary of revenues during the reporting period, broken down by source
• A summary of expenses during the reporting period, broken down by payee
• A listing of expected or outstanding upcoming expenses (for example, a rallyemaster who's not claimed expenses yet, or that the annual insurance renewal is coming next month)