TRADITIONAL ARCHERS OF OREGON

POLICIES & PRACTICES

 

TITLE:

Auditing & Reporting

 

PURPOSE:

To ensure the resources and finances of TAO are focused on the mission and purpose of the organization and that laws and regulations relating to corporate activities are followed.

REVISED:

1 July, 2009

 

Related Documents:

TAO By Laws Article VI, Section 5, Annual Review

IRS Form 990-N

Guide to Nonprofit Service in Oregon

http://www.doj.state.or.us/charigroup/tipsbrd.shtml

 

 

Discussion and Expectations:

The most important function of the Board of Directors is to oversee the effective use of the organizationís
resources and ensure efforts remain focused on the mission and purpose of TAO.  Policies and practices
have been adopted by TAO to ensure that the organizationís activities are approved and assets not
misapplied or wasted.

 

A director must actively participate in the management of the organization including attending periodic
meetings of the board, reading minutes and evaluating reports.  Also, directors must ensure the corporation
is in compliance with state and federal laws that relate to the organization and the way in which it conducts
its business.

 

One of the boardís responsibilities is to oversee the organizationís financial affairs, making sure that the
organization has adequate internal accounting systems and controls. Board members should expect
the President or designated officer(s) to produce timely and adequate income/expense statements,
balance sheets, status reports & meeting minutes.  

 

Directors should expect the most current financial reports to be received in advance of board meetings.

 


 

TRADITIONAL ARCHERS OF OREGON

POLICIES & PRACTICES

 

TITLE:

Auditing & Reporting

 

REVISED:

1 July, 2009

 

Responsibility:

The President has overall responsibility to see that Officers discharge their responsibility to provide
reports of interest to the Board of Directors and the Voting Members at all business meetings.

 

The Secretary is responsible for reports and record keeping as required in the By Laws, Article IV,
Section 7.  The Secretary has the additional responsibility to file the following reports with
appropriate agencies:

 

Reports / Forms / Notices

Filing Date

IRS Form 990-N

Annually, May

Annual Corporate Report

Annually, July*

Registered Agent

Annually, July*

 

 

 

* Filed by corporate counsel

 

The Treasurer is responsible to produce reports and record keeping prior to all business and board
meetings as required in the By Laws, Article IV, Section 8.  The Treasurer shall supply financial
data required by the Secretary to prepare and file required state and federal reports.

 

Additionally, The Treasurer is responsible to ensure that adequate controls are employed to
safeguard the corporate coffers at all events where money is collected.

 

The treasurer will also chair a board level committee to review bank statements (including
debit cards, investments and returns), checks and event income/expenses at least once annually and
provide a copy for inclusion in the July Business Meeting Minutes in accordance with
T.A.O. Bylaws Article VI, Section 5.