FROM AKC PRESIDENT & CEO DENNIS SPRUNG A WORD OR TWO
I will share some helpful tips that are important to review for your club’s financial processes and ensure you have best practices in place to protect your club. It is impor- tant to operate with the best practices to protect yourselves and your clubs from poten- tially harmful situations. Developing and maintaining solid practices will protect your club and its members while continuing to do important work as you contribute to the well-being of purebred dogs. Listed below are some of what has been recommended by major auditing compa- nies and what AKC believes to be the best practices for success. • Establish a finance review committee of club members not involved in the Treasurer’s duties. • Consider investing excess funds in an interest-bearing account or certificate of deposit. • Have the person responsible for approving invoices be different from the individual responsible for preparing and/or signing the checks. Similarly, it is desirable to have an individual reconciling the bank accounts who is different from the person preparing and/or signing the checks. Segregation of these tasks provides a more desirable level of internal control. • Require a second authorized signer for checks over a prescribed dollar amount, usually $250. • Have contracts and agreements in writing. Require that all activity-related con- tracts over a certain amount (e.g. greater than $250) for club-related items be in writing and not verbally understood. • Publish the policies, practices, templates, and requirements to the club members and/or on the club website or otherwise make them easily available. • Maintain records. Clubs should maintain their records—application, approval, revenue, expenses, and net income statements—documentation in an organized fashion and for a set time period. Ideally, the club may choose to retain such items electronically, such as a secured file on Google Drive or another cloud service, accessible by all current club officers. • Document the Treasurer’s duties in writing, which should include, but not be limited to, preparing a quarterly balance sheet and an income statement. • Ensure that the club’s Treasurer and the Board of Directors are insured against misappropriation of funds through a Crime Policy and Directors and Officers insurance or bondings. More in-depth information can be found in our “Managing Club Finances” document. I am appreciative of your contributions as responsible breeders, exhibitors, owners, and judges. You are truly what makes us great. I look forward to sharing more news with you this year!
W e are thrilled to continue to share with you the exciting developments AKC has in store to be helpful to our core constituencies. Your contributions, commit- ment, dedication, and volunteerism to AKC are vital and appreciated. First, we are pleased to announce AKC Meet the Breeds, held January 27-28 at the Jacob K. Javits Convention Center in New York, was a thrilling success. This family-friendly canine spectacle gave dog lovers the unique opportuni- ty to meet and play with hundreds of adorable dogs and puppies while learning about respon- sible pet ownership and which breed may fit their lifestyle. Attendees were also able to see entertaining demonstrations of dog sports and working dogs exhibiting their skills. We are incredibly proud of our clubs and volunteers, and can’t wait to see you at the next one! © American Kennel Club
42 | SHOWSIGHT MAGAZINE, FEBRUARY 2024
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