Treasurer
The Treasurer is responsible for ensuring the committee is empowered to manage the financial affairs of the club, is responsible for protection of the club’s cash, assets and the volunteers who handle them, ensuring the collection of all revenues and payment of all financial obligations.
The Treasurer must also ensure that all financial transactions are recorded in the club’s accounts and producing the club’s financial reports for presentation to the committee, the members at the AGM, as well as complying with all financial reporting obligations contained in the club rules and the Incorporated Associations legislation.
The Treasurer is expected to:
Act in the best interest of the members at all times
Attend all Committee meetings
Undertake the role in good faith and honesty
If at any stage the Treasurer becomes aware of a personal conflict of interest, real or perceived between themselves and the club, they should immediately notify the Club President of the conflict who will immediately inform all other committee members.
Responsibilities
Empowering the committee to manage the financial affairs of the club
Preparation of a club budget and cash flow projection at the start of the year for review and sign off by the committee
Record all financial transactions in the clubs accounting system as well as maintaining a list of club assets and liabilities.
Comparing actual financial results of a given period to budgets for the same period and provide explanations for any variances for the committee to review and take action in a timely manner
Provide monthly profit and loss reports and balance sheet to the committee each month (generally presented at each committee meeting)
Provide a list of payments for the previous month to the committee each committee meeting
Provide a list of revenues outstanding and payments to be made to the committee each committee meeting
Protect the club’s assets, cash and the volunteers who manage them
Implementing financial management procedures which protect both the club’s funds and assets and the volunteers who handle them
Control the club bank account(s), ensuring only those authorised are bank account signatories
Ensure as many payments as possible are undertaken via Electronic Funds Transfer
Ensure as much revenue as possible is collected using online payments
Ensure all approved expenditure is paid as when it falls due
Ensure all moneys due to the club are collected
Ensure adequate insurances are in place
Financial Reporting
Where an audit or review is required ensure it is completed in time for the financial reports to be presented to members at the Annual General Meeting
Produce the financial report to members to be presented at the Annual General Meeting
Undertake all legislatively required reporting and submissions
End of year hand over
Updating key documents
At the end of each year a key activity of the Treasurer will review and revise their position description to ensure it continues to reflect the requirements of the role. The updated Position Description and other documents must be provided to the Club Secretary prior to the Annual General Meeting each year.
Induction of the incoming Treasurer
An important responsibility of outgoing Treasurer is to train, mentor and support the incoming Treasurer.
Essential Skills and Requirements
Hold or willing to apply for a current volunteer’s “working with children” check
Can communicate effectively
Enthusiastic and well organised
Ability to keep concise financial records in the clubs accounting system
Ability to allocate regular time periods to maintain the financial records of the club
Diligent with receipts and money
Ability to work in a logical and orderly manner
Honest and trustworthy
Financial accounting or book-keeping experience preferred
Computer skills.
Unbiased and impartial on all issues
Receptive to change
Dedicated club person