Member Account Policy
Each TPMGC member has a Member Account. This account serves all financial transactions for each member other than membership renewal. All transactions for each account are recorded and the transactions, as well as the current value of the account, are found in My Account. Prize money won by a member is uploaded to the member’s account shortly after tournament results are final.
As in the past, members can request a certificate be issued to one of the approved vendors. The minimum amount that can be requested is $50, or the account balance, whichever is less. Members may also request a $250 or $500 gift card. When requesting a gift card, members must also have enough funds to pay the associated transaction fees.
When members play in a TPMGC tournament, their tournament fee is paid by debiting their member account. If a member is assessed a fine, such as for a late cancellation, that fine is also charged to the member’s account. Members are responsible for ensuring there are sufficient funds in their account. If there are insufficient funds in the member’s account to cover a pending charge, he will be notified so he can add funds to his account. Funds may be added to the account via the PayPal button on the website. The member’s account will pay the fees associated with adding funds to his account.
When members leave the club, they should request a certificate or gift card for the balance of their Member Account within 90 days of their departure from the club. Members who fail to do so will forfeit the balance of their account.
Credit Transactions
Credit transactions will include the date, name, and GHIN for the member as well as a note field describing the purpose of the credit. The following transactions can add money to a member’s account:
- Prize Fund upload for all prize winners after a tournament by Prize Fund Chair
- PayPal payment by a member
- Credit transaction uploaded by Treasurer
- Extra payment at initial or renewed membership
- Credit transaction uploaded by Treasurer
- In the event of an error, a correction for any transaction can be uploaded reversing the earlier credit.
Debit Transactions
Debit transactions will withdraw money from a member’s account. Each debit transaction will be generated by an administrative action within the website and will generate a transaction entry in the log for each member.
The following transactions can withdraw money from a member’s account:
— Prize certificate request–generated by Prize Fund Chair in response to a member’s request
- A transaction showing the debit will be entered in the member’s account log and the account will be reduced by the amount requested
- A separate log of prize certificates will be maintained showing each certificate issued, the members name, GHIN, date issued, vendor name, and amount. Also, status fields will be updated to show: invoice returned, invoice paid, Certificate Expired. After one year passes with no invoice being returned, the certificate will be cancelled and funds will be returned to a Club account.
— Gift card request–purchased by Prize Fund Chair in response to a member’s request
- A transaction showing the debit will be entered in the member’s account log and the account will be reduced by the amount of the certificate plus the specified fee.
— Tournament Fee–Tournament Chair generates a debit for all members on the tee sheet to reduce each member’s account by the tournament fee (currently $15).
- A transaction showing the debit will be entered on each member’s account log.
— Green Fee Payment–In the event that a tournament requires prepayment of green fees, the green fees for each member on a tee sheet can be charged to each member’s account.
- A transaction showing the debit will be entered on each member’s account log.
— Fines–various transgressions will require a member to pay a fine. The member will be informed of the transgression and the fine will be paid from the member’s account after a specified waiting period (48 hours) to allow for appeal.
- A debit in the amount of the fine will be generated by the Penalty Chair.
- A transaction showing the debit will be entered in the member’s account log and the account will be reduced by the amount of the certificate plus the specified fee.
— Account closure–if a member leaves the Club for any reason, he will have 90 days to withdraw any remaining amount in his Member Account. A former member can request liquidation of his account. In that event, the treasurer will generate a transaction debiting the former member’s account for the full amount and will cut a check in that amount to be mailed to the former member’s address of record.
ACCOUNTING
All TPMGC cash accounts are maintained in several bank accounts. Reports generated by the website on the virtual internal accounts should be useful in tracking cash flow and totals compared to budget line items and the bank accounts.
PayPal Account – all payments received (PayPal or any other way) will be deposited in this account.
— The Treasurer will receive a daily report from PayPal showing all transactions. He will share this report with the appropriate board member who will upload the deposits to the Members’ accounts.
— The full amount of a member’s account will be available to him at all times with the exception of any pending tournament fees or fines.
— A member must have a minimum of $15 in his account in order to sign up for a tournament
— The total of a member’s account will be available for display at all times via the Member page of the website.
— The total of all members’ accounts will be available for display or download via the Administrative page of the website
Reserve Account – This account is used to preserve funds being saved for long term needs or possible future need. Examples are legal, technology, and converted prize certificates.
Tournament Account – This account will be used to accumulate the tournament fees for each tournament (withdrawn from members’ accounts and will be the source of prize distributions that are uploaded into members’ accounts. This account will also be used to accumulate fines collected from players and to pay any PayPal fees.
Checking Account – Will be used to pay all approved invoices incurred by the club.
