Fairfield County Chapter
Chapter Policies

 

FINANCIAL POLICY 

1. It is the responsibility of the Board of Directors to ensure all funds are received and 
    expended in accordance with sound financial management practices and to support
    the overall goals of the Chapter.

2. The President and Finance & Records Director will supervise the Treasury team.
    Cash Disbursements, Bank Deposits and Bank reconciliation and financial reporting
    must be done by 3 different people, of which the Finance & Records Director can be
    one. They will carry out the day-to-day financial operations of the Chapter in
    accordance with policies set by the Board of Directors. 

3. Finance & Records Director, President and the Cash Disbursements Person can be
    signers on the Chapter Bank Accounts.

4. The Finance & Records Director will be responsible for presenting current Financial
    Reports at Board of Directors meetings. The Finance & Records Director is also 
    responsible for overseeing the proper recording of all income and expenses and the
    filing of all required tax returns.  In the absence of the Finance & Records Director, the
    President or another designated Director may fulfill these obligations.

5. All Board Members will be responsible for properly accounting for all Chapter
    expenditures for their respective areas and committees.

6. As required by the IRS, all expenditures exceeding $25.00 must be evidenced by an
    original receipt.  We strongly encourage all expenditures to be supported by an
    original receipt.
7. Any expense paid by Cash Disbursements Person for over $500 must be approved 
    by a Board member. An email is sufficient.

8. The Board must approve any contractual obligations or guaranteed minimum costs
    prior to commitment by an individual Board member including deposits and contracts
    for golf events or leagues, clinics, social or other events.  This clause also applies to
    guaranteed minimum participation levels.

9. Annually, each Board Member will be responsible for submitting all budget requests
    for the following year.   Once approved by the Board of Directors, each Board
    Member and their committees may incur expenses to carry out the planned events
    and functions for the year.  The Board of Directors must approve any additions or
    changes to the budget.

10. The Board of Directors will approved Bad Deb Write Off exceeding $50.00.  The
    Finance & Records Director may write off bad debts less than $50.00 after collection
    efforts fail.

11. Any member failing to pay any obligation to the Chapter will not be a member in
    good standing and will be unable to participate in leagues or any other functions of the
    Chapter,  Any obligation owed to the Chapter by a guest of a member to a golf event
    is the responsibility of the member to ensure that the obligation is paid.  All requests
   for refunds, out of the activity guideline, will be put in writing to the designated
   person who will submit them to the Board for approval.

12. Cancellation/Refund Policy: When a member signs up for an event and later cancels
   her registration or does not show up for an event, every attempt will be made to make
   a refund, if possible. However, if the Chapter has confirmed her attendance at an
   event and the Chapter has paid out funds for the event and cannot receive a refund
   from the vendor or find a member replacement, no refund will be made. This policy
   also applies to guests. The Chapter’s cancellation and refund policies should be
   included on the registration form for all events. If the registration form policy is
   different, its policy will override this one. 

   Leagues: There are no refunds for league play.  If a substitute plays for you, they
   should reimburse you directly.

 13. If the Chapter has a returned check, the person who wrote the check will be
   charged the amount the bank charges the Chapter.