Financial Secretary Handbook - Knights of Columbus, Supreme ...

In cases where a financial secretary fails in the performance
of his duties, the grand knight and trustees should
send a statement of facts to the Supreme Knight. The
statement should be based on the Laws of the Order, principally
Section 139. A copy of the statement should be
provided to the state deputy.
If a financial secretary is aware that he will be incapacitated
by illness for more than three or four weeks, it
is his obligation not only to advise the grand knight, but
also to make arrangements for normal council operation.
The accounts should be turned over to the board of
trustees who should select a temporary financial secretary.
If there is an accountant available in the council, the
board of trustees could request his assistance.
Where a financial secretary is unable to make arrangements
in advance and the grand knight has knowledge
that the financial secretary will be unable to carry out his
duties for some time, the grand knight should obtain the
council records and any moneys in the possession of the
financial secretary. This should and can be done by tactfully
explaining the council’s position either to the financial
secretary or to a member of his family.
EVALUATION —
FINANCIAL SECRETARY
Ninety days prior to the conclusion of a financial secretary’s
three-year term, the grand knight of the council is
advised that an evaluation of his performance in the
office must be made and returned to the Supreme Knight
before consideration will be given to re-appointment for
an additional three-year term. The financial secre tary
receives a copy of the Supreme Knight’s letter to the
grand knight.
The Evaluation (Form #1938), illustrated on page 14,
calls for the grand knight, the three trustees and the council’s
district deputy to evaluate the financial secretary by
checking one of the four designations, i.e., excellent,
good, fair or poor in each of the eight categories shown
on the form. Space is also provided to indicate recommendation
or non-recommendation for re-appointment
and the current occupation of the financial secretary. The
completed evaluation must include the signatures of the
grand knight, the trustees and the district deputy before
forwarding to the state deputy for his endorsement and
sub sequent mailing to the Supreme Knight.
SELECTION OF FAITHFUL COMPTROLLER
Fourth Degree Laws provide that the faithful
comptroller be elected, along with the other officers of
the assembly, at the first regular business meeting held in
June of each year.
BONDING
The financial secretary, upon appointment by the
Supreme Knight, is automatically bonded at no charge to
the council in the amount of $5,000.00. The same is true
for the council treasurer and both the assembly
comptroller and purser when the appropriate Officer
Reports are processed at the Supreme Council office.
Additional bonding may be obtained at a cost of $7.00 per
thousand.
Please be guided by the following:
• Bonding is on the office, not the person holding the
position.
• Additional coverage is requested by writing to the
Supreme Secretary.
• Bonding on the covered officers is limited to
$125,000 of total coverage per council or assembly,
including the provided $5,000 of coverage on each
officer.
• Bonding runs from March 1 to the end of February,
and any charge for additional coverage is posted on
the council or assembly account annually in March
or April. The charge is prorated if purchased at
another time during the year.
• The last two council/assembly audits must be on file
in the Supreme Council office or bonding will not be
in effect.
ADHERENCE TO
SUPREME COUNCIL RULES
Adherence to Supreme Council requirements in
accounting for moneys and recording membership additions
and changes is most important and cannot be
stressed enough.
The Supreme Council has developed an effective
accounting system for subordinate council use that provides
checks and balances in accounting for council
funds. The burden of account ing for moneys is not placed
on the shoulders of any one individual and involves not
only the finan cial secretary, but the district deputy, grand
knight, trustees and treasurer. The district deputy, grand
knight and trustees are obligated to make certain that all
council records are properly maintained, that moneys are
accounted for and that all members are properly
recorded on Supreme and subordinate council rolls.
The financial secretary who “cuts corners” in his
accounting system not only confuses himself, but also
makes it more difficult for those whose responsibility it is
to make routine examination of the council books and
conduct the audits.
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