B.2.3 4-H Financial Guidelines 

4-H clubs should follow these guidelines, or develop other sound financial policies, to ensure the responsible use of 4-H funds and the 4-H name and emblem:

·         The 4-H club treasury belongs to the 4-H club and should be used as a vehicle for members to learn responsible money management.  Members make decisions about dues and how the funds are spent.

·         All 4-H clubs should have a 4-H member as treasurer and an adult volunteer as advisor to the treasurer.  The adult advisor should be someone not in the treasurer's immediate family.

·         All 4-H clubs should keep accurate and detailed accounting of all club dues, income raised or donated, and all expenses.  You can get a "4-H Treasurers Report" booklet from the Extension office for this purpose.

·         The 4-H club should vote on all expenses that are over $25.00.  The club secretary should record all votes.

·         All funds raised in the name of 4-H through fundraising or dues must be spent on 4-H educational activities and events, or in the direct support of club educational activities.  See 4-H Fund Raising in section B.1.12 of this manual for more details.

·         All clubs should keep the treasury in a bank account.  See the section on Tax Exempt Status of 4-H Organizations for information on setting up a bank account and applying for an EIN (Employer Identification Number) for federal accounting. 

·         Books should begin on October 1 of each year.

·         Any club that disbands must account to the Extension office for all funds raised and spent.  This must be done within 60 days after the closing of the club.

·         All clubs that disband must transfer any remaining funds, following an audit, to:
o        new leaders and members taking over the club, or
o        a county- or state-based 4-H scholarship fund, or
o        the Leaders’ Association in the respective county, or
o        another 4-H club in the county, or
o        the Pine Tree State 4-H Foundation, or
o        some other appropriate 4-H entity

·         If a club divides into two or more separate clubs, club funds should be divided in proportion to the number of members from the original club who are now in each new club.

·         Club treasurers or leaders should report any problems with the club's finances to the Extension office or to the president or treasurer of the Leaders’ Association as soon as they are discovered.

·         The treasurer and advisor should be made very aware of the financial guidelines or policies being used by the club.  The Extension office provides training for treasurers, or for all officers.  Call your county 4-H Youth Development educator or professional about setting up a meeting if you would like training for your club.

4/02/08

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