Summary
This guide provides a comprehensive checklist for treasurers to effectively close out the financial year and prepare for the upcoming year. It outlines essential steps including the payment and recording of outstanding bills, conducting financial reviews or audits, and exporting final year-end reports. The document emphasizes the importance of governance by reviewing bylaws and holding required elections, while also detailing the process of closing out books and setting up for the new financial year. Additionally, it highlights the necessity of updating banking information and ensuring compliance with IRS requirements, particularly for tax-exempt organizations. The checklist serves as a practical tool to facilitate smooth transitions and maintain organizational integrity as the year concludes. It also includes tips for renewing subscriptions and preparing documentation for incoming officers.
