District Treasurer

Gregg Burt(Simi Valley)

Click Here for 2017-2018 Finance Committee Roster

The District Finance Committee is established to review, study and approve the budgeted income and expenses of District administration.

Membership and voting rights on the Committee will be as follows:
(1) The members of the committee shall consist of the following: DG, the District Treasurer, and three District Rotarians. The three District Rotarians shall serve a maximum three-year term, which shall be staggered so that a new District Rotarian shall be selected each year.
(2) Each succeeding year, the DGN shall appoint one District Rotarian for a maximum period of three (3) years to fill the vacancy created by the staggered terms.
(3) The District Treasurer shall be a member for the appointed year.
(4) The DG shall be a member during his/her year in office, but will have no vote except in settling ties.
 
The duties of the Committee shall be:
(1) In cooperation with the DGE, prepare and approve a proposed budget of District income and expenditures that shall be submitted to the clubs at least two weeks prior to the earliest Presidents-Elect Training Seminars (PETS).
The district budget that is submitted to the presidents-elect for approval shall contain the following legend, "At the end of the Rotary year, the DG shall determine the amount of unexpended funds 45 days after the end of the year. He/she shall then submit a plan to the finance committee as to how the unexpended funds are to be utilized. The finance committee shall meet and approve the plan. If the plan submitted stipulates that the unexpended funds are to be sent to the District’s foundation for the benefit of the clubs, then such a plan will be deemed as having been approved by the finance committee without the need for a meeting of such committee."
(2) Within two weeks of the quarterly periods receive from the District Treasurer and review a written statement of the bank balance, income and expenditures for those periods.
(3) Following receipt of financial information from the District Treasurer, conduct, complete, approve and publish to the clubs quarterly reviews of District income and expenditures for those periods.
(4) Complete the responsibility with regard to Paragraph 4 (The District Reserve) of this section.
(5) Publish quarterly P & L and Balance Sheet reports to the membership in District Newsletter.
  

Expense Reimbursement Forms for the current Rotary Years are available for download by selecting the appropriate form in the column at the left.  Instructions are on the form.  Please be sure to submit legible copies of all receipts with the form.

The District 5240 Budget (latest revision) for 2014-15 is available by clicking on the Budget selection in the Download section of the left column.  The budget was presented to the PEs in January 2014 for review prior to the 2014 PETS training weekend.  The 2014-2015 Budget was approved by the PEs during the 2014 PETS training weekend.

The lastest available Profit and Loss statement (with date) is available by clicking on the Budget selection in the Download section of the left column.

 

 

IMPORTANT NOTICE FROM RI regarding IRS ruling:  Did you know that many years ago the IRS ruled that Rotary Clubs are not "charitable" organizations even though they qualify as non-profits?  As a results, any checks made out to Rotary Clubs (District also) for dues, donations, fundraisers, etc. are NOT normally eligible for income tax deductions.  Now, the district and many clubs MUST include a disclosure statement on all invoices for dues and on fundraising brouchures.  Read the full notice from Rotary International for details.  Donations to properly established and maintained Charitable Foundations DO qualify for the exemption.