Purpose
The Finance & Assets Committee ensures the financial integrity and accountability of the new District 212. This group is responsible for coordinating the closing out of legacy district accounts (partnering with current Finance teams), consolidating financial operations, and establishing transparent processes that comply with Toastmasters International policy.
Their work safeguards the district’s resources, sets up accurate systems for budgeting and reporting, and creates the foundation for fiscal health and sustainability in the first operational year.
Scope & Deliverables
- Unified financial infrastructure for District 212 by July 15, 2026.
- All legacy district accounts reconciled, audited, and closed.
- Transparent documentation of all financial transfers and asset movements.
- New district chart of accounts, reimbursement procedures, and budget templates.
- Complete financial continuity file for incoming District Finance Manager and Audit Committee.
Task List (this is not all inclusive)
Financial Transition & Compliance
- Conduct final audits for Districts 19, 35, and 54 (target: July 15, 2026). Audit for District 30 ??
- Obtain TI approval for all final legacy reports and reconcile balances.
- Prepare transfer-of-funds documentation signed by outgoing and incoming leaders.
- Transfer all balances to the D212 operating account by July 15, 2026.
Banking & Systems Setup
- Research and recommend preferred banking institution(s) for D212.
- Establish checking and savings accounts in compliance with TI financial policy.
- Update authorized signers (District Director, PQD, CGD, Finance Manager).
- Implement a unified accounting tool (QuickBooks, Wave, or TI Excel ledger template).
- Develop step-by-step financial workflow documentation for reimbursements and deposits.
Assets & Property Management
- Inventory all tangible assets (equipment, supplies, banners, materials).
- Coordinate transfer of physical assets to designated D212 storage or officers.
- Record and label all items using a simple asset tracking spreadsheet.
- Secure disposal or donation documentation for obsolete items.
Budget Planning & Reporting
- Collaborate with the D212 Core Team to develop the 2026–2027 District Budget.
- Create consistent templates for expense reports, reimbursements, and income tracking.
- Provide ongoing status updates to the Transition Steering Committee.
- Submit quarterly interim reports during transition for transparency.
Final Deliverable:
District 212 Finance Continuity Binder containing:
- Bank details
- Policies and procedures
- Audit reports
- Budget templates
- Signed transfer documentation
- List of open obligations