- The Audit Committee is appointed by the Exalted Ruler to organize and execute the programs listed below. The committee is required by Grand Lodge statute and will have no fewer than 3 members on the committee as a whole.
- Audit Committee Chair: Nestor Tamayo (2021 – 2022)
The Auditing & Accounting Committee shall:
- Engage an accountant with the approval of the Lodge to prepare the Annual Financial Report (Audit, Review or Compilation), provided that the Sponsor may waive the requirement of an Audit, Review or Compilation in accordance with the Grand Lodge Auditing, Accounting & Management Manual. The Annual Financial Report must include all books, records and activities of the Lodge, Home, Club, separate year ending March 31st. The accountant shall be one who is independent of the accounting and bookkeeping operations of the Lodge or any entity thereof, except as provided in paragraph (j).
- Deliver to the accountant the Annual Financial Report forms furnished by the Grand Secretary.
- Receive from the accountant and deliver to the Lodge by June 15 the accountant’s report which will include the required standard Annual Financial Report forms with budget comparison and applicable Federal and State tax returns, complete for all entities of the Lodge.
- Send one copy of the Annual Financial Report, prior to June 30, to the District Deputy Grand Exalted Ruler and the Area Member of the Grand Lodge Committee on Auditing & Accounting. Failure to timely submit the report may subject the Lodge to an immediate fine of one hundred dollars ($100) and a subsequent fine of an additional one hundred dollars ($100) for each calendar month thereafter, not to exceed five hundred dollars ($500). Payment of a fine does not relieve the Lodge of the duty to file the report and continued refusal will be considered Contumacy.
- Secure a financial report of any entity affiliated with the Lodge, which has a fiscal year other than March 31, within sixty (60) days after the close of the fiscal year.
- Require the use of the Uniform Chart of Accounts provided in Section 4.330.
- Act on other matters of finance as the Lodge may direct.
The Members of the Committee shall continue with their duties until the Annual Financial Report is completed for the fiscal year in which appointed and reported to the Lodge and filed with the Grand Lodge as herein directed.
The Committee shall, in the months of July, October and January, review the required record-keeping of the financial affairs of the Lodge and Club and compliance with the approved budget, and report at the last regular meeting of the Lodge during those months.
A Local Lodge may apply to Grand Lodge for permission to prepare its own Annual Financial Report using in-Lodge personnel under the supervision of the Lodge Auditing & Accounting Committee. Minimum requirements for in-Lodge preparation of Annual Financial Report are:
Lodge must make application under guidelines promulgated by Grand Lodge.
Lodge application must be approved by Grand Lodge Area Sponsors via their Area Member of Grand Lodge Auditing & Accounting Committee.
Lodge receiving written approval must use Grand Lodge Chart of Accounts in conjunction with number placement recommendations contained in the Grand Lodge Auditing, Accounting & Management Manual.
Unless waived by the Sponsor, Lodge Federal and State Tax Returns must be prepared by a Licensed Tax Professional who is independent of the Lodge and independent of preparation of the Grand Lodge Annual Financial Report. The same financial information used to prepare the Annual Financial Report must be independently used to prepare the applicable Federal and State Tax Returns.
No Lodge Secretary, Treasurer, Trustee, Director, or any member of the Supervising or Managing Body of the Club, Social Parlor or other facility established in connection with the Lodge shall serve as a member of the Auditing & Accounting Committee.
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