Page 44 - The Scepter - Summer-Fall 2018

3. The Chapter Treasurer received and disburses all chapter funds. The treasurer only disburses funds upon re-
ceipt of an approved voucher. The Treasurer should use an accounting software to track income and expenses
by category and implement a voucher system for disbursements.

4. The Chapter President is ultimately responsible for ensuring that all financial procedures and policies are fol-
lowed and deadlines are adhered to for reporting requirements as instructed by TLOD, Inc.

5. The Chapter Treasurer is responsible to present a “Zero Based Budget” for the chapter operations and chap-
ter programs of the chapter for approval. This may be in collaboration with the Budget and Finance Commit-
tee. Zero Based Budgets should be developed for activities to include but not limited to the following: con-
ferences, TTA activities and fundraising.

6. Chapters must maintain at least one (1) bank account with the chapter name as listed. TLOD national recom-
mends two (2) bank accounts to include one (1) Chapter Operations account and one (1) Chapter Programs
account.

7. Chapter bank account(s) should have three (3) signers on the bank account(s). The Chapter President, Chap-
ter Treasurer and one (1) other Officer which may be the Chapter Financial Secretary or Recording Secretary.
Additional Officers can be included on the bank account(s). Checks require two signatures, the Chapter
Treasurer and President or any other Officer on the bank account. The two signatures on checks cannot be
the Chapter Treasurer and the Chapter Financial Secretary.

8. An Employer Identification Number (EIN or Tax ID) is required for every chapter. The number is assigned
to each chapter by TLOD National upon chartering. Any changes to the number will be managed by the Na-
tional Treasurer.

9. Chapter Treasurer and Chapter Financial Secretary must report monthly to the chapter on the financial activi-
ty of the chapter. This includes member status, balances, income and expenses and budget to actual reporting.

10. As a Not for Profit corporation, Top Ladies of Distinction has been granted 501 c3 tax exempt status by the
IRS. Chapters must maintain detailed records on funds collected from the public for fundraisers and dona-
tions. Any Funds raised from a public fundraiser must be used to operate TLOD programs. These funds can-
not be used to finance chapter operations, Top Lady Conference attendance or membership activities.

11. Top Ladies of Distinction, Inc is insured by a Blanket Fidelity Bond covering the following positions: Presi-
dent, Financial Secretary, Treasurer and any person designated as a reservation chair for purposes of collecting
funds. A bonding fee of $35 is payable per chapter and area annually and is due with the chapter tax. The
bond is issued with the understanding that chapters are following approved accounting procedures as outlined
in the Chapter Financial Responsibilities. These are the same individuals who should be on the bank account
and the only ones that can sign checks.

Membership Procedures (new)
1. All annual per capita payments for the current fiscal year must be received by the National Financial Secretary

no later than February 1st of the fiscal year for both Top Ladies and Top Teens.
2. Membership for new Top Ladies and Top Teens inducted during Annual Spring Conference season will be

activated as of the new fiscal year beginning July 1. Any chapter desiring membership of newly inducted Top
Ladies and Top Teens during Annual Spring Conference season to count for the current fiscal year must in-
clude written request with induction paperwork and payment sent to the Area Director.

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Constitutional Recommendations (add Step five (5))
Step 5: The National Director of Operations will place all approved recommendations in a binder accessible to all
members for reference. A binder will be maintained at the national headquarters. Additionally, changes should
be posted on the website under the MEMBERS ONLY SECTION following approval at Syn-Lod until such time
that the SOP is updated.