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MFFM's template for a farmers' market

T r e a s u r e r ' s     R e p o r t


 
The basic formula for a treasurer's report goes like this:
        STARTING BALANCE   -   EXPENSES  +  INCOME  =   ENDING BALANCE
which is what's happening here. However, in order to make the details of the organization's finances as clear as possible to the membership, each category is broken out to allow for member examination and understanding.
Treasurers report for the East Overshoe Farmers' Market
prepared by Alan Greenspan
Comments
Starting Balance 1-Jan-02 2618.16 This dated entry is usually taken from the bank statement.
EXPENSES We're going to get the Expense total below by itemizing the expense categories and adding the category subtotals.
Promotions Each Expense category is listed in the first column.
Coupon redemptions Subcategories are then listed in the second column.
BDN 148.00 Subcategories are then enumerated for clarity.
Flyers 2.00
Penob Times 171.00
Coffee News 35.00
Total Coupon Redemptions 356.00 356.00 Subcategories are totaled and total is copied to the next column.
Advertisements Subcategories are then listed in the second column.
BDN 2167.00 Subcategories are then enumerated for clarity.
Penob Times 171.00
Coffee News 636.00
WERU 325.00
Total Ads 3610.00 3610.00 Subcategories are totaled and total is copied to the next column.
Food for Taste of Market 38.00 Other Promotion categories are then listed in second column.
Tote Bags 120.00
Brochures Printing 135.12
Total Promotions 4259.12 4259.12 Now promotions are totaled and copied to the next column.
Table & Tent Purchase 272.00 Other expense categories are listed in the first column and amounts placed under expense category totals.
Rent 920.00
Postage 30.00
FB Membership 55.00
FF Insurance 140.00
Total Expenses 5676.12 <5676.12> Expenses are totaled and the total is copied into last column. Expenses total is a negative, so is enclosed in <angle brackets>.
INCOME We're going to get the Income total below by itemizing the income categories and adding the category subtotals.
Ann. Dues 25 members at $35 = 775.00 Income categories are listed in the first column, with helpful explanations of how figures came to be.
5 members at $50 = 250.00
Daily Dues 380 member-days x $5 = 1900.00
Total dues 2925.00 2925.00 Subcategories are totaled and total is copied to the next column.
Grant 272.92 Other Income category are listed in the first column.
Interest 8.40
Total Income 3206.32 3206.32 Incomes are totaled and total is copied into last column.
Ending Balance 148.36 This calculated amount must equal the year end bank statement. The treasurer's report must be reconciled with the bank statement until they agree.
Notes:
  1. The bank statement that is used for starting and ending balance will most likely the be market's checking account, since this is usually the account from which bills are paid and into which dues are deposited.
    In that case, an addendum to the Treasurer's Report can include a similar mini-report on a savings account, a CD or other market bank accounts. These do not directly impact upon the above treasurer's report, except that incomes such as interest derived from other sources should be noted, but not included, in this report. (Unless, of course, interest amounts from other accounts are transfered to this account, in which case they become sources of income for this report and will be included in this account's bank statement.)

  2. Many markets will have simpler reports with smaller numbers than this one, which is roughly taken from the Orono Farmers' Market for 2002. In any case the complexity of this report should allow treasurers to see how the market's financial data can best be presented to market members.

  3. Often treasurers will also add a line for a dated "Actual Ending Balance" at the end of the report to demonstrate that the report has in fact been reconciled.

  4. This report has been presented by MFFM for the use of farmers' market treasurers by Tom Roberts tom@snakeroot.net. Contact him if you have questions or suggestions to add to (or subtract from!) this report template.