Treasurer
CurrentPuget Sound Firefighters, Local 1747 Treasurer:The Treasurer shall receive all money due the Local, from whatsoever source, and shall disburse the same only by voucher signed by the president in conformity with a vote of the Local. Such disbursement shall be by check, which shall also be signed by the President. The Treasurer shall maintain and keep current a record of members with their dues payments, assessments and all financial transactions promptly and accurately entered. The Treasurer shall be prepared to exhibit receipts and vouchers upon audit. The Treasurer shall forward the annual audit of the Local to the International General Secretary-Treasurer, over the seal of the Local, not later than 180 days from close of the Locals fiscal year.Fiduciary Responsibilities: Forms 990 (IRS) and LM (DOL) filing requirementsUnderstanding the Life Cycle of a Labor OrganizationRecord Keeping Requirements:Starting a Business, Keeping Records, IRS Publication 583Recording Business Expenses, IRS Pub 535Understand Critical Tax Distinctions:Accountable vs. Non-Accountable Expense Plans, IRS Pub 535Independent Contractors vs. EmployeesExempt Organization guidanceAdditional IRS guidanceBudget EventsReceiving Contributions as a 501(c)(5)Establishing a separate 501(c)(3) charitable organizationFiling the Department of Labor’s LM reportsAnnual reporting to Independent Contractors and EmployeesCreation and Dispersion of Form W-2