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OSHP Guidelines and Policies
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Treasurer


The position of Treasurer is elected for a two-year term from the active OSHP membership on opposite years from the Secretary.  The Treasurer is a member of the Board of Directors of OSHP, which meets at least quarterly and functions as the official voice of Health-System Pharmacists in Oklahoma.  A report of financial activities will be expected at each board meeting.

Duties:

A.  Banking:  Establishes the checking account with 3 different officers’ signatures (the President, President-Elect, and Treasurer);  maintains current officers and their addresses on accounts; has Board approve renewal of CDs one month prior to renewal date and approve all transfers of monies; communicates, in writing, the decision to renew CD or not, and chairs the Finance Committee.

 

B.  Accounts

Past History:

1.  Interest bearing/investment checking account should maintain a balance of 3 months’ expenses   (about $10,000)

2.  CD with 12 month maturity (value of 6 months’ expenses; $20,000)

3.  CD with 6 month maturity (all excess money)

Current:

1.  Account #(checking)

Bank of Oklahoma (local Branches statewide)

P.O. Box 24128

Oklahoma City, OK 73124-0128

 

2.  Account #

Bank of Oklahoma

P.O. Box 24128

Oklahoma City, OK  73124-0128

 

3.  Account #

American National Bank and Trust

P.O.  Box 1408

Sapulpa, OK  74066

 

4.  PayPal

 

C.  Accountant

Steve Zerger

FD, Thompson, and CO., P.L.C.

 13320 N. MacArthur Blvd.

 Oklahoma City, OK  73142

 (405)603-6400

Employer ID #73-1042506

501(c)(6) exempt from Federal Income Tax

 

(maintain a file for each employee’s signed W-4 form)

 

D.  Payments

 

                Speakers Honorariums and travel expenses

                ASHP Delegates travel expenses

                Board member expenses

                Scholarships

 

Obtain Social Security numbers and addresses of speakers paid in excess of $600 to issue IRS form 1099 at year’s end.

 

            Mileage is reimbursed at current IRS rate of $0.565 per mile (as of 1/1/13).

 

 The President or President-Elect should write any checks due to the Treasurer.

 

E.  Expense Forms

 

Staple receipts to the back and attach canceled check on the front.  Complete all information.  File in numerical order when check has cleared and all signatures have been obtained.  If a receipt is not available for an expense, such as a delegate allotment, make certain it is placed in the Board minutes and attach a copy of the minutes, or get a letter from the President directing payment.

 

F. Audits: 

 

1.  Completion of annual IRS Form 990:  This needs to be completed in the off year from the bi-annual audit.  Submit information to account including backup disk of QuickBooks, bank interest (1099) forms from checking account and CD’s, bank statements, PayPal transaction statements, and Board of Directors roster. 

 

2.  Bi-annual audit:  Submit information to accountant including backup disk of QuickBooks, cancelled checks with expense forms, bank interest (1099) forms from checking account and CD’s, bank statements, PayPal transaction statements, membership rosters, certificate of deposit renewal statements, and Board of Directors roster.  Several letters and forms relating to legal actions pending release of information, etc., will require a signature. 

 

G.  Board Meetings

 

1.       The following items should be taken to each Board meeting:

a.       Quickbooks Reports: 

          i.      Profit and Loss

          ii.      Balance Sheet

b.      Checkbook

c.       Expense forms to be signed

d.      Extra expense forms

2.       Two times each year, the Treasurer should provide an update on the budget providing an update on the actual income/expenses compared with budgeted income/expenses and variance. 

 

H.  State and Federal Offices

 

                Oklahoma Tax Commission, Business Tax Division

                P.O. Box 26860

                Oklahoma City, OK  73126-0860

 

                Internal Revenue Service

                P.O. Box 970013

                St. Louis, MO  63197-0013

 

I.  Prepares an annual officer report for the membership to be presented at the OSHP

    Annual Meeting.

 

J.  Serves as the chair of the Finance Committee

 

 

Revised 2-13. Reviewed 8-18

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OKLAHOMA SOCIETY OF HEALTH-BASED PHARMACISTS
PO BOX 2371
OKLAHOMA CITY, OK  73101