Treasurer’s Journal

2023 Treasurer

Chris Cavanagh



Westerville Citizen's Police Academy
Alumni Association
Education , Commitment & Partnership
Treasurer's Report 3.31.2024
Opening Balance $14,604.00

Income February
Interest 15-Mar $2.94
JJ Donations 7-Mar $905.00
Member Dues 7-Mar $50.00
Total Income: $957.94
Expenses February
None $0.00
Total Expenses: $0.00

Closing Balance $15,561.94

2024 Approved Budget: Events $0.00
Sunshine Fund $0.00
WPD Holiday Meals $0.00
WPD Birthday Bags $0.00
Picnic/Christmas $0.00
Website $0.00
Liability insurance $0.00
Total Budget $0.00

Restricted Funds:
Street Survival / Valor $2,924.95
Washington DC Training $265.00
Total Restricted Funds $3,189.95

Total Unrestricted Operating Funds $12,371.99
Interest 3/15 $0.31
Cops & Kids Fund Balance $1,556.77
Fallen Officers Fund Beginning Balance $9,701.90
No Activity $0.00
Fallen Officers Fund Ending Balance $9,701.90
Total Assets $26,820.61


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		Westerville Citizen's Police Academy			
Alumni Association
Education, Commitment & Partnership
Treasurer's Report February 2024

Treasurer's Report 2.29.2024
Opening Balance $14,230.97

Income February Interest 15-Feb $3.03
Member Dues 8-Feb $150.00
Member Dues 23-Feb $25.00
Member Dues 29-Feb $100.00
Donations 29-Feb $95.00
Total Income: $373.03
Expenses February
None $0.00
Total Expenses: $0.00

Closing Balance $14,604.00

2024 Approved Budget: Events $0.00
Sunshine Fund $0.00
WPD Holiday Meals $0.00
WPD Birthday Bags $0.00
Picnic/Christmas $0.00
Website $0.00
Liability insurance $0.00
Total Budget $0.00

Restricted Funds:
Street Survival / Valor $2,924.95
Washington DC Training $265.00
Total Restricted Funds $3,189.95

Total Unrestricted Operating Funds $11,414.05
Cops & Kids Fund Balance Interest 2/15 $0.33 $1,556.46
Fallen Officers Fund Beginning Balance $11,707.77
Ck 1007 Custom Cutters (memorial plaques) $2,005.87
Fallen Officers Fund Ending Balance $9,701.90
Total Assets $25,862.36


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		Westerville Citizen's Police Academy			
Alumni Association
Education , Commitment & Partnership
Treasurer's Report January 2024

Treasurer's Report 1.31.2024
Opening Balance $14,107.96

Income January Interest 15-Jan $3.01
Member Dues 12-Jan $190.00
Hat 12-Jan $25.00
Member Dues 30-Jan $105.00
Total Income: $323.01

Expenses January
1576 Dahn Xmas Day Officer Food $200.00
Total Expenses: $200.00

Closing Balance $14,230.97

FY 2024 Budget
General Funding $0.00
Sunshine Fund $0.00
Events for Children $0.00
WPD Birthday Bags $0.00
Picnic/Christmas $0.00
Website $0.00
Liability insurance $0.00

Restricted Funds:
Street Survival / Valor $2,924.95
Washington DC Training $265.00
Total Restricted Funds $3,189.95

Total Unrestricted Operating Funds $11,041.02
Cops & Kids Fund Balance $1,556.13
Interest 15-Jan $0.33
Fallen Officers Fund Balance $11,707.77
Total Assets $27,494.87

          Westerville Citizen’s Police Academy
        
   Alumni Association
         Treasurer’s Report December 6, 2023

Treasurer's Report		11.30.23				

Opening Balance $13,375.03
Income November Interest $3.05

Member Dues $435
Member Dues $25.00

Total Income $463.05
Expenses November
Returned Check Fraud $40.00
1572WCaringSharing $50.00
1573 Schreiber PD Birthday Bags $90.59
Total Expenses $180.59
FY23 Budget General Funding

Sunshine Fund $81.76
Events for Children $196.77
WPD Birthday Bags $67.61
Picnic/Christmas $850
Website ($72.72)
Budget $1,123.42

Closing Checkbook Balance $13,657.49
Restricted Funds
Street Survival/Valor $2,924.95
Washington DC $265.00
Total Restricted Funds $3,189.95
Total Operating Funds $10,467.54
Cops & Kids Balance $0.35 $1,555.48
Dormacy Fee/Fee Waived ($5.00) $5.00
Fallen Officers Balance $11,692.77
Dormacy Fee/ Fee Waived ($5.00) $5.00
Total Assets $26,905.54





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	Westerville Citizen's Police Academy
Alumni Association
Education, Commitment & Partnership
Treasurer's Report September 30, 2023


Treasurer's Report 9.30.23
Opening Balance $13,756.68
Income August Interest $2.89
Hats $145
Member Dues
Member Dues
Donations
Total Income $147.89
Expenses August
1570 Danalewich Domain, Shared Hosting $115.89

Total Expenses $115.89
FY23 Budget General Funding

Sunshine Fund $131.76
Events for Children $196.77
WPD Birthday Bags $158.20
Picnic/Christmas $850
Website ($72.72)
Budget $1,264.01

Closing Checkbook Balance $13,535.45
Restricted Funds
Street Survival/Valor $2,924.95
Washington DC $265.00
Total Restricted Funds $3,189.95
Total Operating Funds $10,345.50
Cops & Kids Balance $0.33 $1,554.83
Fallen Officers Balance $11,697.77
Total Assets $26,788.05

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		Westerville Citizen's Police Academy			
		Alumni Association			
		Education, Commitment & Partnership			
		Treasurer's Report August 31, 2023			
						
						
Treasurer's Report		8.31.23				
Opening Balance					$13,753.67 	
Income	August	Interest		$3.01 		
		Member Dues				
		Member Dues				
		Member Dues				
		Donations				
		Total Income		$3.01 		
Expenses	August					
1569	Lakes	candy,weepuls,badges		$253.23 		
		Pamphlet holders				
		Total Expenses		$253.23 		
FY23 Budget		General Funding				
		Sunshine Fund		$131.76 		
		Events for Children		$196.77 		
		WPD Birthday Bags		$158.20 		
		Picnic/Christmas		$850 		
		Website		$43.17 		
		Budget		$1,379.90 		
						
Closing Checkbook Balance					$13,503.45 	
Restricted Funds 						
Street Survival/Valor				$2,924.95 		
Washington DC				$265.00 		
Total Restricted Funds				$3,189.95 		
Total Operating Funds				$10,313.50 		
Cops & Kids Balance				$0.34 	$1,554.50 	
Fallen Officers Balance					$11,697.77 	
Total Assets					$26,755.72 	
						

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		Westerville Citizen's Police Academy			
		Alumni Association			
		Education, Commitment & Partnership			
		Treasurer's Report July 31, 2023			
						
						
Treasurer's Report		7.31.23				
Opening Balance					$13,750.94 	
Income	July	Interest		$2.73 		
		Member Dues				
		Member Dues				
		Member Dues				
		Donations				
		Total Income		$2.73 		
Expenses	July					
						
						
		Total Expenses		$0.00 		
FY23 Budget		General Funding				
		Sunshine Fund		$131.76 		
		Events for Children		$450 		
		WPD Birthday Bags		$158.20 		
		Picnic/Christmas		$850 		
		Website		$43.17 		
		Budget		$1,633.13 		
						
Closing Checkbook Balance					$13,753.67 	
Restricted Funds 						
Street Survival/Valor				$2,924.95 		
Washington DC				$265.00 		
Total Restricted Funds				$3,189.95 		
Total Operating Funds				$10,563.72 		
Cops & Kids Balance				$0.31 	$1,554.16 	
Fallen Officers Balance					$11,697.77 	
Total Assets					$27,005.60 	

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A Note from Treasurer Dan Hare:
WCPAAA MEMBERS
Since our last meeting I took a look at the issues raised by some of our members regarding donations given for a specific purpose like “Street Survival/Valor” and “Washington DC Trip”. I spoke with two members who informed me that Class Gifts as far back as 2003 were donated for a specific purpose such as Street Survivor/Valor and Washington DC Trip.  
All 501 3 Cs basically have two buckets of funds: 1. Restricted Funds and 2. Unrestricted Funds
Definition
1.Restricted funds are monies set aside for a particular purpose as a result of designated giving.  They are permanently restricted to that purpose and cannot be used for other expenses of the nonprofit.
2. By contrast, unrestricted funds may be used for any legal purpose appropriate to the organization.
Only Donors Can Restrict Funds One of the most important points to understand about restricted funds is that they can only come about through designated giving. Restricted funds are the result of a donor giving with specific strings attached as to what the donation may be used for.  
Once money is restricted, that restriction is permanent. If a situation arises that is serious enough to necessitate re-purposing restricted funds, it is necessary to obtain permission from the original donor(s) to remove the restriction.  It’s best practice to get that permission in writing.  
You can set a budget for the campaign and inform donors that any money received above a predetermined cap will be redirected to the general fund.  You could also publicize a time limit after which unused money in the restricted account becomes available to the general fund.  
Unrestricted funds support the overall mission of an organization and do not have a specific use required for spending. They allow the organization the freedom of discretionary spending, and they are essential financial resources contributing to the effective operation of a nonprofit organization.
On the March Treasurer’s Report. You will notice the following:
1.	The Budget Passed last month is listed under encumbrances (Unrestricted Funds)
2.	There is a new line that lists Street Survival/Valor and Washington DC (Restricted Funds)
3.	Cops and Kids and Fallen Heroes are in separate accounts (Restricted Funds) 
This is not a difficult fix; it is matter of developing clearly defined purposes for funds and recording them appropriately. This will benefit members, future Treasurers and future Boards in understanding the functions and restrictions of WCPAAA Funds.
If anyone has questions, comments or additional information please do not hesitate to contact me at hare.dan13@gmail.com

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Notes from the Treasurer regarding Restricted and Unrestricted Funds.

Colleagues:
Since our last meeting I took a look at the issues raised by some of our members regarding donations given for a specific purpose like “Street Survival/Valor” and “Washington DC Trip”. I was informed that Class Gifts were donated for a specific purpose such as Street Survivor/Valor and Washington DC Trip.  
All 501 3 Cs basically have two buckets of funds: 1. Restricted Funds and 2. Unrestricted Funds
Definition
1.	Restricted funds are monies set aside for a particular purpose as a result of designated giving.  They are permanently restricted to that purpose and cannot be used for other expenses of the nonprofit.  
2.	By contrast, unrestricted funds may be used for any legal purpose appropriate to the organization.
Only Donors Can Restrict Funds One of the most important points to understand about restricted funds is that they can only come about through designated giving.  A nonprofit is free to set aside a portion of general operating revenue for any number of reasons, and may even create policies to make it difficult for those funds to be used for any other purpose.  But even if that happens, those funds are not truly restricted in the legal sense.  Real restricted funds are the result of a donor giving with specific strings attached as to what the donation may be used for.  It may be the result of the nonprofit soliciting or fundraising for that purpose.  Donors can also designate that a gift be used for a purpose they choose, completely independent of any fundraising campaign.  It may or may not be for a legitimate purpose.  These gifts can be a challenge to deal with.
What To Do About Unsolicited Designation
In that last scenario, if a donor designates a contribution that isn’t a result of an “ask” for that purpose, the nonprofit has a choice to make.  If it accepts the gift with the strings attached, that money becomes restricted to that purpose.  Sometimes that’s fine.  If a church, for example, has a facilities fund that it uses to pay mortgage payments and building-related expenses, the church may be happy to accept donor-designated gifts for that purpose, even if they weren’t directly solicited.
But what about designations that don’t fall into that situation? The good news is that a charity is not obligated to accept designated gifts.  If a donor gives a donation with a designation that doesn’t make sense for the organization at that time, it can always ask the donor if the money can be used for other purposes.  Most donors are trying to help the organization, and such a request is usually granted.  If the donor is gracious enough to agree, the money isn’t restricted.  Rarely, a donor may have a personal agenda, or is seeking some type of influence, and is not willing to lift the designation.  At this point, the nonprofit can accept the donation and agree to the restriction, or it can refuse the gift altogether.
Restrictions Are Permanent (Usually)
Once money is restricted, that restriction is permanent.  The funds cannot be redirected to other purposes, even if the budget picture becomes bleak.  It is a difficult situation to be facing unpaid rent and utility bills, or an upcoming payroll, with nothing in the organization’s operating account, but you have $50,000 sitting unused in a Scholarship Fund.  It seems logical that the money could be moved in an emergency.  But the IRS is serious about restricted funds.  Improper use can result in severe penalties, or even loss of exempt status.  Boards can be sued by donors for misuse of such funds.
There is a possible way out, but it isn’t always easy.  If a situation arises that is serious enough to necessitate re-purposing restricted funds, it is necessary to obtain permission from the original donor(s) to remove the restriction.  It’s best practice to get that permission in writing.  That is the only legal way to use the money for purposes other than the original restriction.
Avoiding Headaches When Fundraising
There are a few things you can do to keep from getting caught in these situations.  When it comes to soliciting donations for a particular purpose, it is often wise to provide the donor with some caveats prior to the gift.  You can set a budget for the campaign and inform donors that any money received above a predetermined cap will be redirected to the general fund.  You could also publicize a time limit after which unused money in the restricted account becomes available to the general fund.  And finally, you can always provide a general disclaimer that all donations received through a campaign are subject to redirection at the discretion of the organization.
Be careful with blanket disclaimers like that last one, however.  If donors don’t have confidence that their donation is really for the purpose advertised, you may handicap your campaign.  The important thing to understand is that if you use a disclaimer or caveat, it needs to be very clear to the donor prior to the gift.
Unrestricted funds support the overall mission of an organization and do not have a specific use required for spending. They allow the organization the freedom of discretionary spending, and they are essential financial resources contributing to the effective operation of a nonprofit organization.
In discussion with some of our longtime members they informed that their class donated funds for a specific purpose. Taking them at their word because the books from years prior to 2020 were stored at the former Police Station and I have not had time to run those down (information on Class Gifts goes back to 2003). With that being said I have attached a draft of the March Treasurer’s Report. You will notice the following:
1.	Our budget is listed as it was passed last month: (Unrestricted Funds)
2.	There is a new line that lists Street Survival/Valor and Washington DC (Restricted Funds)
3.	Fortunately Cops and Kids and Fallen Heroes are in separate accounts (Restricted Funds) 
Remaining questions:
1.	Are there other Restricted Funds? I will continue to seek this answer.
2.	In the future I suggest that we look at donations with specific purpose and decide if this Board and future Boards want to accept additional Restricted Funds.
Observations: 
1.	In light of the recent bank failure, I can say with confidence that our financial books are accurate. 
2.	What has happened here is not so uncommon with 501 3Cs, in that it is a matter of understanding the 501 3 C rules and regulations and passing this information along from Treasurer to Treasurer (In reality passing this information along to succeeding Boards). 
This is not a hard fix; it is matter of developing clearly defined purposes for funds and recording them appropriately. 

 I found this donation to Fallen Officers from 2018 from the Better Business Bureau of Central Ohio and it states what we would like to see in donation letters: On behalf of our Board on Directors and Staff at the Better Business Bureau of Central Ohio, please accept this donation earmarked to use in whatever way Chief Morbitzer feels would be beneficial for the healing and well-being of his staff and officers. It designates the donation as restricted donation (Fallen Officers) with discretion on how to best utilize the funds and giving that discretion to the best person. 
If anyone has questions/comments OR additional information please do not hesitate to respond. 

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