The Role of the Treasurer
As well as bearing all the general responsibilities of being a member of a management committee or board, there are several tasks for which the Treasurer of an organisation has responsibility. Many of these are the regular practical administrative duties that will be done by staff where the organisation employs paid members of staff.The Treasurer is responsible for providing financial transparency and accountability to the board/committee, and ensuring that processes and reporting requirements are met openly and accountably. A Treasurer also provides an assurance of the ongoing financial viability of the organisation to the board/committee.
The tasks of the Treasurer for committee or board meetings may include:
- Ensuring that the finances of the organisation are managed appropriately
- Making recommendations to the board about income and expenditure, investments and debts
- Keeping records of all incoming and outgoing payments
- Reviewing the annual profit and loss, and balance sheets
- Ensuring that the annual audit process is undertaken in a timely fashion according to legislative requirements
- Providing regular financial statements to the management committee/board with a capacity to explain any details
- Drawing up the annual budget in consultation with staff and the other executive members
- Ensuring that sufficient funds are available at all times to support the organisation's liabilities
