Members present: Jay Ressler, Chris Gamber, Victoria Lawrence
The committee noted that income and expenditures in the check register matched the banks records for the year since the preceding audit. However, we also noted that the bank showed approximately $500 more cash on hand than shown by our checkbook balance. We concluded the error dated back further than 2019-2020 and the checkbook should be corrected.
Existing financial records are in paper-only form, dependent on manual calculations. Recommendations: • Transfer all bookkeeping to digital, cloud-based format with income and expense ledgers that can be used to generate reports as needed. Look into utilizing QuickBooks. • Move all E-commerce to Square, eliminating PayPal, if possible. •Maintain monthly reconciliation. •Order new checks when BB&T finalizes their name change. •Issue cash prizes for students in contests we sponsor instead of checks.