What is the Role of the Treasurer?

What is the Role of the Treasurer?

Just like the role of Secretary, the Treasurer’s tasks may also be divided. It is not good practice for all tasks associated with the finance function to be performed by one person (whether they are a member of the management committee or staff) without supervision from others. For this reason, it is good practice for both small and large organisations to set up a finance sub group to manage and monitor their finances. In small organisations with no staff, the finance sub group could consist of the Treasurer and 2 other members of the management committee. This provides an opportunity for those with no experience of finance matters to develop their knowledge and skills. In larger organisations the finance sub group could consist of the Treasurer, 1 or 2 other members of management committee, the Chief Officer, and the senior staff member responsible for financial management and fund raising. Even if the Treasurer and finance sub-committee carry out much of the financial management work, the final responsibility always rests with the Management Committee as a whole. Remember all members of the Management Committee are accountable!

Financial Responsibilities

Financial responsibilities can be divided into six broad categories:

1. General financial oversight
   
   
2. Funding, fundraising and sales
   
   
3. Financial planning and budgeting
   
   
4. Financial reporting
   
   
5. Banking, book-keeping and record-keeping
   
   
6. Control of fixed assets and stock