Audit Committee Report Enacted

Posted by Kaitlin Russitano 
on Jul 27, 2011
 
The Audit Committee which is comprised of Committee Chair George Walker, Karl Broekhuizen and Patti Sopp rendered a report at the request of past president Emily Muller at the July 20th meeting.  The report was endorsed by the club.

The committee reviewed club and foundation assets, policies and procedures, and state regulations.  The committee also considered the IRS guidelines with prior treasurer and Jeff Many, CPA.  One of the primary recommendations of the committee was to hire an accountant to maintain the day to day records of the club due to the many changes in the IRS and the 990 reporting processes.  Further recommendations include a review of the clubs financial books be done for the year ending 6/30/2011 as committee foresees that in several years the club will be under a full audit.  The board unanimously recommended the report be endorsed and that Jeff Many be engaged on a contract basis to continue his voluntary day to day bookkeeping services and record keeping for the Rotary Club of Saratoga Springs. 

 

At a future date the board will report back to the club on which accounting firm will be contracted to review for fiscal year 2011 as well as review the books for fiscal year ending 6/30/2012.  We thank Jeff and the audit committee for all their work.