Chapter Internal Review Authorization Letter

From: Chapter President

First NameLast Name

To: Treasurer

First NameLast Name

Authority to conduct the review: Date of Appointment

Authority to conduct the review and report on Chapter's financial condition.

Date of Appointment by NNOA President

Review Committee

	Enter Names
Chairperson
Member
Member
Member

Records to be used in the review: The Committee will examine Chapter financial records consisting of monthly financial reports, bank statements, receipts and invoices, the budget, and the review report for the previous year. The Treasurer will be available to answer questions and provide documents as necessary. Contact the Review Committee Chairperson if this date is unacceptable.

The review will be conducted on:

Date of Review

Input to the Committee's Findings: Please answer the following questions in preparation for the audit.

How many bank accounts does the Chapter have?

Are these accounts in the Chapter's name?

YesNo

What are the name(s) of the financial institutions where the accounts are located?

Types of Accounts

CheckingSavings

Are they interest bearing or non-interest bearing accounts?

Interest bearingNon-interest bearing

Are the bank statements reconciled monthly?

YesNo

Do monthly financial reports include all accounts owned by the Chapter?

YesNo

Are all expenditures of Chapter funds supported by appropriate receipts and/or invoices?

YesNo

Are all checks required to have, and do they contain signatures of two Chapter officers to expend chapter funds?

YesNo

Who are the signatories?

How are chapter debts are paid - checks, debit cards, etc.?

Did the Treasurer make deposits of funds to chapter accounts within ten (10) days?

YesNo

Were dues sent to the Board Membership Director within ten (10) working days of receipt?

YesNo

Does the Chapter use the tax exemption (EIN) number?

YesNo

Have required annual financial reports been filed with the National Board of Directors?

YesNo

How are losses handled (if any)?

What equipment, if any, does the Chapter own? What is its condition? Is it being, or has it been depreciated? What method of depreciation did you use?

List all liabilities, if any, and include to whom and for what purpose? Are there sufficient funds in the Chapter's accounts to pay for these liabilities?

Does the Chapter have an annual budget?

YesNo

What type of Pro-forma financial statements does the Chapter Treasurer use to report the Chapter financial status (i.e., Income Statement, Balance Sheet, etc.)?

Are all financial transactions auditable and traceable, i.e., do documents answer who, what, when, where, why, and how)?

YesNo

Are all executive decisions that have potential financial impacts, discussed with the Executive Chapter Officers, or do these decisions rest with one or two Chapter officers? Who can commit the Chapter to financial obligations?

Summary: The review committee members look forward to working with you to strengthen our Chapter and NNOA.