TREASURER’S WORKSHOP

    Agenda

    Welcome and Introductions
        Expectations
        Disclaimer

    Year End Duties
        Update Software and Settings
        Enter all data up to 12/31
        Enter closing stock prices
        Verify Club Info
        Audit
        Distribute Earnings
        Tax Filing
            Why file taxes?
            Federal Forms
            State Forms
            Methods for printing forms

    Tax Information
        ID Numbers
        Filling out the MN Form M-3
        Should Investment Clubs file?

    Verification of Club Books
        Pre-filing verification
        Reports to print
        Other documents
        Procedures
        NAIC Resources

    Frequently Asked Questions
        Company-paid fees/commissions
        Is Workshop fee tax deductible?
        Can one member buy out another?
        Options for total withdrawals
            Withdrawal paid with all cash
            Withdrawal paid with stock
            Other Considerations
        Equal partners?
        Total Return, Compound Ann Ret

    Resources
        NAIC
        ICLUBcentral
        NAIC Software
        Yahoo Stock Information
        IRS

    NAIC Club Accounting Concepts
        Custom Designed
        Transaction Specific
        Account Selection
        Petty Cash Account
        Record Deletion
        Allocation of Expenses

    Club Accounting Procedures and Tips
        Unit Value Method
            Member Deposit transactions
            Member Fee transactions
            Non-club transactions
            Classifying Collections, Expenses
            Classifying Coll,Exp, cont.
            Classifying Coll,Exp, Example
            Classifying Coll,Exp, Ex. cont.
        Unit Value, Unit Calculations
        Cost Basis
        Entering Dividends
        Special Assessments for Expenses
            Example, purchasing software
            Example, NAIC dues #1
            Example, NAIC dues #2
            Example, NAIC dues #3
        Dates on Transactions

    Questions?