The Treasurer

4. The Treasurer

The role of the treasurer is to ensure that the fiscal assets (money and property) of the group/organization are properly managed.

The job of the treasurer is to:

·         Ensure that understandable systems are in place and operated by all members/staff/volunteers eg. for petty cash claims (the Treasurer need not handle every item of cash themselves)

·         Ensure that bills are paid promptly (checking that there is sufficient funds to pay these) and all income is banked on a regular basis

·         Prepare projected budgets- forward estimation of amount that will be required to keep the organization/group going for a period(s) of time

·         Produce end-of-year accounts- or arrange for these to be completed and externally examined, in line with statutory requirements, and the group’s constitution

·         Communicate with the bank, including ensuring that Bank statements are regularly received and kept safely and that cheque signatory mandates are kept up-to-date

·         Report regularly to the Board on the financial situation

·         Be able to give an accurate picture of the organization’s financial position at any given time

·         Report to the Annual General Meeting on the end-of-year accounts

·         Prepare an annual budget for the committee

·         Ensure that funds are being spent in accordance with the organization’s objects and that money given for a specific purpose can be seen to have been used correctly

·         Ensure the organization has proper insurance

·         Assisting in funding applications

Although the Treasurer is responsible for preparing draft budget and reporting regularly to the Board about the state of finances, it is the responsibility of the Board to:

·         Agree on the budget

·         Make decisions about allocating money

·         Fundraise

·         Make grant applications (thought the Treasurer should be involved in this eg. oversee the budgets)

·         Chase committee members eg. for receipts