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Legally, the board must approve a corporations financial statements, and generally two members of the board sign them. Securities commissions in the U.S. have recently expanded this requirement, so that the board or its audit committee must also now approve interim financial statements.
When your board receives the monthly treasurers report, you should not vote to approve it. A vote to approve indicates that the board stands by the report, whereas in fact, there is no foundation on which to stand. You have no way of knowing whether it is correct or not.
💡What should a treasurers report include? Your treasurers report should always include the balance at the beginning of the period, the income for the period, the expenses for the period, the balance at the end of the period, and any upcoming planned expenses. Find out more.
Treasurers Report Such a report requires no action by the assembly but should be placed on file for audit.
Approval and adoption No motion is needed to receive a committee report. Once the members have seen it in the official meeting materials, it is considered as received.
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0:05 2:39 This figure shows whether the organization made a profit or incurred a loss during the reporting.MoreThis figure shows whether the organization made a profit or incurred a loss during the reporting. Period and prepare a summary of the financial.
Roberts Rules of Order says: No action of acceptance by the assembly is requiredor properon a financial report of the treasurer unless it is of sufficient importance, as an annual report, to be referred to auditors.
The treasurer should keep separate file folders for bank statements, canceled checks, invoices and receipts, deposit slips, cash receipts and financial reports. A separate set of files should be kept for each year.

monthly treasurer's report template pdf