JUN – Financial Info

1st Quarter 2015 Reimbursements
The 1st quarter 2015 reimbursement will be deposited into  chapter checking accounts next week. Please check with your bank to ensure your chapter received the deposit. On AAPC’s website you can click on Details under the Issued Checks tab of the Financial Info area of the website to see which meetings and exams were included in the reimbursement.

Quarterly Bank Account Summary
As you’re reviewing the Financial Information area you’ll also notice under the Quarterly Report tab, the Quarterly Bank Account Summary box has been removed. This information is no longer required at this time.

Profit and Loss Statements – Changes Coming…
As AAPC local chapters have grown in number and size, we have noticed a need to maintain a better reporting system. In response to a request from our financial advisors, beginning in July, treasurers will be able to report all quarterly chapter income and expenses on the profit and loss statement, keeping it current throughout the year. Watch for more information on this upcoming change.

Protect Chapter Finances
It is essential that officers maintain strict control of chapter funds by carefully adhering to the guidelines outlined in the current Local Chapter Handbook. Officers occasionally spend more money than is available in their accounts, leaving accounts overdrawn. This occurs when officers fail to track receipts for expenditures, leaving records incomplete, or failing to give regular financial reports to chapter members. We urge all officers to review handbook guidelines to ensure your chapter is financially compliant.

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