CAI-NJ July 2019UPDATED

CLUBS... from page 45.

4. Be transparent. Financial reports should be made available to any member or officer. As you can see, something as simple as going to a ball game or taking a fitness walk if done through an independent club can come with a lot of baggage! That being said, it is very important that any- one involved with independent club activities be properly informed of the associated risks. As noted above, education is the key! Being aware of these potential issues will allow such clubs to get ahead of them and prevent any issues before they happen! n

2. Institute a review process in which the board members / officers review the financial reports main- tained by the bookkeeper. 3. Institute controls and processes for collection and use of funds: a. All cash collections should be made in the same manner (i.e. check payable to The Bridge Club and delivered to Unit 123, etc) b. All disbursements should be reviewed by the entire Board c. Checks and other disbursements should requirement multiple levels of approval (i.e. two signatures on checks, etc)

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