The By-Laws of the PGIslanders Cruising Club require an Audit Committee be appointed with the “responsibility for reviewing all books of the Secretary and Treasurer, all financial transactions of the Club and any other information necessary to determine the financial well-being of the Club.” The appointed Audit Committee met and reviewed all the available financial records and Board minutes of 2018. The committee consists of Tyler Swanson, Don Brandt, and Tom Foster. While the committee has some knowledge of accounting, it does not have a working knowledge of QuickBooks, the system on which the financial records of the Club are maintained.
· Recommendation: The Board should consider requiring two signatures for expenditures over $500.
· Recommendation: For each Board Meeting, the Treasurer should print, from QuickBooks, the Income and Expense report for the month most recently ended and a “to date” report.
· Recommendation: Dues income should be recorded and deposited when received.
The Treasurer, who assumed duties mid-year, has worked very hard to accurately record and classify the financial transactions of the Club. The Committee concludes that the Financial Matters of the Club are maintained in good order.
The Committee has appreciated the cooperation of the Treasurer and Secretary in its review of the financial records of the Club.