Year-end close & treasurer handoff checklist

For the outgoing and incoming treasurers at the end of the fiscal year, or when a treasurer steps down mid-year.

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Year-end close & treasurer handoff checklist

Group: ______________________________   Fiscal year / period: ________________

Close the books

  1. All reimbursement and check requests for the year are submitted, approved, and paid, or listed as open.
  2. The final month is reconciled to the bank statement, and the final treasurer's report is presented.
  3. The year's actual totals are compared with the budget, for the board and for next year's budget.
  4. Outstanding checks and deposits in transit are listed for the incoming treasurer.

Review & filings

  1. Books and records go to the audit or review committee (checklist).
  2. The incoming treasurer doesn't take over the books until the review is done, if your procedures say so.
  3. The federal annual return due date is on the calendar and someone owns it. IRS 990-N ยท automatic revocation info
  4. State registration or annual report due dates are noted, if they apply. See state links.

Bank & access

  1. The bank signature card is updated with minutes showing the newly elected officers.
  2. Former officers are removed from accounts, online banking, payment apps, and the group's email and drive.
  3. Online banking and app logins are handed over in person, or through a method the board approves. Passwords are changed afterward.
  4. Checkbook, unused check stock, deposit slips, cash box, and any debit cards are counted and handed over.

Handoff binder

  1. Adopted budget, bylaws, and financial procedures or standing rules.
  2. This year's monthly reports, reconciliations, bank statements, and the review report.
  3. Paid requests with receipts and invoices, filed by month or check number.
  4. Calendar of recurring dues, renewals, filings, and seasonal fundraisers.
  5. Contacts for the bank, payment platforms, insurance, and the school office. Office contacts only, no personal data you don't need.
  6. A note on anything unusual: open items, pending refunds, restricted funds, disputes.

Records

  1. Records are kept for the retention period your group adopted, and old records are destroyed securely.
  2. Records contain no student information, Social Security numbers, or full card or bank numbers they don't need.

Sign-off

Outgoing treasurer (print / sign / date): ________________________________________

Incoming treasurer (print / sign / date): ________________________________________

Witness, president or reviewer (print / sign / date): ______________________________

General organizing checklist, not legal, tax, or accounting advice. Your bylaws, bank, school or district, and state or national organization may have extra requirements. Official sources are on the state links page.