Budget Spreadsheet Important Dates
Congratulations! Your fellow Toastmasters have chosen you to be their club treasurer. Perhaps you have done this before, I hope you can find some useful ideas in what follows despite the familiar and repetitious information. For you first-time treasurers out there, my goal is to help you understand and perform the duties of your office in the most efficient way possible.
Why the Treasurer is ImportantDues. Dues! DUES!
- If the club doesn't pay at least 8 members' International dues on time, then its charter will be suspended.
- If a specific member's International dues are not paid on time, then that member will be ineligible to compete in Toastmasters speech contests or serve in any Toastmasters office.
- If the club doesn't pay at least 8 members' International dues on time, then all club members whether paid or not will be ineligible to compete in Toastmasters speech contests or serve in any Toastmasters office, nor will the club receive credit towards the Distinguished Club Program goal for memberships paid on time.
- Amongst the goals that the Toastmasters International board sets for Districts is a certain number of club memberships paid. (The Club Growth Director is primarily responsible for this at the district level, so expect frequent communiqués!)
What are membership dues?There are two components:
- Toastmasters International dues which are $45 every six months
- Club dues which are set by your club in its bylaws
Which dues does a member pay to the club?Each member pays both international and club dues to the club. Note that this payment to the club DOES NOT COUNT as the member's dues being paid. Only payments sent to Toastmasters International count.
How does a member's international dues get paid to Toastmasters International?The Treasurer (or another club officer) pays a member's International dues through Club Central on the Toastmasters International website: toastmasters.org.
How much does a new member pay?A new member pays the same dues ($45 International dues + club dues), however they are prorated according to the month that member joins. For example, a member that pays in the 4th month of the 6-month membership period only pays 1/3 of the full 6-month dues.
What is a New Member Kit?New members also pay $20 for the New Member Kit. You will also collect this amount and pay it to Toastmasters International much like dues are paid. Please get a new member's payments in as soon as possible because their manuals will not be sent until after all funds have been received.
New Member Kits are only needed for first-time Toastmasters. Dual members, transfers, reinstated members, and honorary members do not need a New Member Kit.
Who pays the Club New Member Fee?You will have to read your club bylaws for this answer. If your club has a new member fee, it is likely paid by new and reinstated members. It might be paid by dual or transfer members. It is never paid by honorary members.
What are inactive members?If a member has been or indicates he or she will be absent for an extended length of time, then the executive committee may vote to make that member an inactive member. Inactive members do not count towards quorum, nor do they get scheduled for meeting roles, hold club office, or compete in contests. Your club bylaws will say how much an inactive member's dues are.
What are dual members?Dual members are individuals who maintain memberships in multiple Toastmasters clubs. A dual member pays all dues for every club in which they are a member. If a member of another club joins your club and they intend to maintain membership in both clubs, then their application should indicate they are a dual member.
What are transfer members?Transfer members are individuals who currently have an active membership in another Toastmaster club and desire to transfer that membership to your club. Transfer members do not have to pay International dues for the current membership period when they join your club since they already paid those dues to their original club. Your club may or may not charge prorated club dues according to your club's bylaws.
What are reinstated members?An individual who used to be a Toastmaster in the past and is now joining your club gets submitted as a reinstated member. They pay prorated dues to your club like a new or dual member.
What are honorary members?A club is permitted to recognize a non-Toastmaster in the local community with an honorary membership. The club pays the International dues. Do not collect any money from the individual. There is no requirement to maintain membership for subsequent dues cycles.
Where do I find my club's bylaws?In Club Central!
Do DatesDues have due dates. That means you have Do-Dates. The most important Do-Dates are set by Toastmasters International:
- Pay International dues on toastmasters.org for at least 8 members
- By October 1 for the October-through-March membership period
- By April 1 for the April-through-September membership period
- Notable 9: Pay International dues for 9 members on toastmasters.org and receive a patch for the club banner
- By September 7 for the October-through-March membership period
- By March 7 for the April-through-September membership period
- Incredible 20: Pay International dues for 20 members on toastmasters.org and receive a $25 Toastmasters gift certificate
- By September 10 for the October-through-March membership period
- By March 10 for the April-through-September membership period
The district does not see what clubs paid dues at a particular time. It would be so much easier that way, but it is simply not available. Therefore, to receive credit for the Notable 9 and Incredible 20, you not only have to pay the International dues in time, you must also download the receipts for those dues payments from Club Central and then email those receipts to the Club Growth Director at email@example.com.
The last important date of note is June 30 at midnight Pacific Daylight Time, the end of the Toastmasters year. In order for your club to receive any recognition in the Distinguished Club Program (DCP), the club must have either a net growth of 5 members or a total of 20 members. The DCP goals of adding 8 new members during the year also have the same deadline. The only members that count are -- you guessed it -- those whose dues have been paid to Toastmasters International by June 30! Fair warning, though: Clubs and districts all around the world are also trying to meet the same June 30 deadline, so the toastmasters.org website will be processing a lot of traffic. If you wait until the very end, you may find yourself still waiting past the deadline!
BudgetPer the Club Leadership Handbook, as Treasurer:
You prepare and oversee the club budget.
Create the budget at the beginning of the Toastmasters year in conjunction with
the executive committee.
Report on the club budget as needed at club and executive committee meetings.
The point of a budget is to predict and plan for the club's finances. In order to do this, you will need a reasonable estimate of the club's expected income and expenses. You will also need to anticipate the club's balance and cash flow to make sure the club has the funds it needs when it needs them.
To make this task easier, here is a spreadsheet where you can enter numbers for your club on the first page and immediately see critical values for your club. You can also see a 6-month budget on the second page and your club's projected balance on the third page. As a bonus, on the fourth page you will find the dues for new members calculated for you!
Who makes the decisions?Since the money belongs to the club, it is the club that decides the budget and how money is spent. As a matter of parliamentary procedure, the budget should be decided by a vote of the club membership at a regular meeting. Once the budget is established, then as Treasurer you are permitted to spend or reimburse funds within the amounts allowed by the budget. To go beyond those limits would require another vote by the club membership.
In practice, most clubs do not establish a budget, and often monetary decisions are made by the club officers. As long as no one objects or complains, then whatever process works for your club will likely suffice -- as long as the money is not being misspent! Which leads us to
What are we allowed to spend money on?On The Use of Club Funds per Toastmasters International:
Authorized uses include:
- Educational/administrative materials for club/member use
- Meeting place rental fees (if applicable)
- Refreshments for club meetings (must be approved by the club)
- Parties and social gatherings
- Donation of money to causes or individuals
- Payment of dues for individuals
How are we allowed to raise funds?Club dues are the primary source of club funds. Clubs might also charge members other fees. If your club wants to conduct a fundraising event, please be sure you are in compliance with Protocol 8.2. In essence, stick to Toastmasters programs and activities directly related to Toastmasters missions.
When should I start collecting dues from club members?There is no required date, but since District 84 is providing incentives for paying International dues as early as September 1 and March 1, I personally recommend that you start collecting members' dues by August 15 and February 15.
How will I remember all these dates?You will receive several reminders from Toastmasters International and District 84. For those of you who like events and reminders on your phone, computer, or online calendars, here is a set of iCal events just for you!
How do I let members know dues are due?Most commonly the Treasurer and other officers simply make an announcement at a club meeting. Sending an email to members is often sufficient. You can also print and distribute invoices to members. Get the word out any way you can, then track down any straggling members personally.
What if a member says they need an invoice or a receipt?Provide them one. Make sure they are professional and presentable since that document will be seen by others. Include your contact information so that you can confirm the authenticity if needed.
What if a member says they cannot afford to pay their dues?Let the member know when their membership will lapse, either October 1 or April 1. You are not required to do anything more. It is acceptable for someone else to pay that member's dues, but that arrangement is outside the duties of the Treasurer.
What if a member says they will pay next week and we need their membership in order to meet a goal this week?DO NOT PAY. If the club pays the member's international dues and then the member fails to pay the club, then that dues payment will not be refunded.
Similarly, if a member pays dues by check. DO NOT PAY that member's international dues until after the check clears.
What if a member pays after the October 1 or April 1 deadline?Pay that member's dues for the current membership cycle in Club Central. Same as if the member had paid before the deadline.
Can a member pay for a full year at a time?At this time, Toastmasters International will only take 6-months worth of international dues at any time. If your club takes on the effort required to track, maintain, and responsibly disburse full-year dues, then this will be your responsibility as Treasurer.
The club membership application has a section for paying by credit card, so why can't the club take payments by credit card?That section is for paying international dues directly to Toastmasters International. Toastmasters International DOES NOT COLLECT CLUB DUES. If your club wants to collect club dues via credit card or online payments, then it is up to your club to establish an account to do so. Note that such accounts have service fees! Two of my clubs have been successful with squareup.com and my third club's treasurer receives funds from club members via PayPal.
Go For The GoalsHolding a club office is one requirement for Advanced Leader Bronze as is the official officer training for which this information was prepared. To complete the ALB requirements, make sure that your fellow club officers also conduct a Club Success Planning meeting, that you conduct two of the modules from either The Successful Club Series or The Leadership Excellence Series, and that you complete your Competent Leadership manual. Maybe you can even give a manual speech about the club's finances and budget.
Don't Go It AloneFor the sake of the club, make sure another officer has access to financial accounts in the even you are not available. Find out if any other members might be interested in taking on the office of Treasurer after you. Even if you enjoy being Treasurer, there might be others that could learn a lot from the experience, and that is what Toastmasters is all about!
Finally, Have Fun!In the words of Ralph Smedley, "We learn best in moments of enjoyment."
Find the joy in what you must do, and there you will discover what you really can do!