Treasurer shall be applicable as defined in the Trust Deed. The treasurer exercises control over financial operations with prudence and integrity. Always ensure that the role description for your Treasurer matches the current dynamics of your organisation. Do … As qualified treasurers, ACT members have a unique mix of experience and knowledge, underpinned by their ACT membership. Online banking will allow you to access your bank account remotely and going paperless will negate the possibility of important correspondence from your bank being lost in the post. Closer inspection reveals that the Treasury function undertakes a range of complex and skilled tasks; liaises with internal and external stakeholders and plays a key role in the smooth functioning and value creation of an organization. The Treasurer: 5.8.1 Shall hold office from the day after the end of term 3 until the last day of term 3 in the following academic year. To oversee the management of any membership funds that are payable to the society. 1. This particular sheet focuses on the role of the Treasurer. (See links below or click here for more on developing role descriptions). It is the responsibility of the whole committee for deciding how the money will be raised and spent, the whole committee should agree on spending decisions. If you have any questions relating to the financial management of your club, Glasgow University Students’ Representative Council, Glasgow University Students Representative Council, Leaving Purpose Built Student Accommodation during COVID-19, HEAR: Higher Education Achievement Report. Includes basic principles of managing money, keeping track of cash and bank accounts, and sharing information with the rest of your group. I am extremely eager to take on a more involved role in the society next year as Treasurer, and revitalise the society using what I have learnt, alongside the suggestions of the members, who are the most important group. As treasurer your role will be to provide and maintain accurate records of all financial transactions relating to the Body Corporate. Funding, fundraising and sales. The overall role of the treasurer is to maintain an overview of the Society's affairs, ensure financial viability, and ensure that proper financial records and procedures are maintained. ...the finance sub group could consist of the Treasurer and 2 other members of the management committee. This study identifies the implications of this higher-profile role for a treasurer and what is needed to be effective in this new role. KEY ROLES OF TREASURY Look at these two real examples: They are known as officers. As treasurer, you have day-to-day responsibility for looking after your group’s money. It is the Treasurer’s responsibility to present a report at the AGM detailing the club or society’s expenditure over the past year and answer any questions from club/society’s members. Roles and Duties of the Honourable Treasurer The Treasurer has a watchdog role over all aspects of financial management, working closely with other members of the Management Committee to safeguard the organisation's finances. The club/society will be expected to ensure they fulfil all criteria required for the grant if awarded one. A treasurer is the elected office bearer of a housing society who is responsible for financial and legal compliances, assets and liabilities and whose primary job is accurate management and oversight of a society’s financial transactions/undertakings. Set up appropriate systems for book-keeping, payments, lodgements & petty cash, Ensure everyone handling money keeps proper records and documentation. The treasurer is responsible for keeping accurate books that will enable him/her to give a full financial report whenever requested. The financial duties undertaken by people/groups in the organisation should reflect levels of authority and responsibility. Present revised financial forecasts based on actual spend. The following is not an exhaustive list of what a good club Sec retary should do (and each society will have different expectations of a Secretary) but it gives a good outline of what is expected of you when you are in the role. However the committee as a whole is responsible for deciding how funds will be raised and spent. To be the main point of contact with the SRC if the society applies for an SRC grant and ensure that all grant criteria are complied with. The Club Treasurer is responsible for the managing the flow of money into the club and for allocating and recording how that money is spent to run the club. Section 12 outlines the roles of charity Chairs and Treasurers as follows: 2.1. Right From Ancient Times, Treasury Occupied An Important Status In All Kingdoms And So Did The Treasurers. Many organisations are now paying professional book keepers to manage their finances and treasurer becomes the person who directs the book keeper and reports to the board or committee. It is important to note that although the Treasurer ensures that these responsibilities are met, much of the work may be delegated to a finance sub-committee and paid staff or volunteers. The treasurer is one of the most important positions in the Club or Society. Duties of the Club Treasurer The office of club treasurer is important because the treasurer is in control of the club’s money, its collection, and disbursement. The finances of a society need to be transparent to members. This includes registering new bank signatories when handing over the society bank accounts. Do set up online banking for your account and consider opting for paperless statements. The basics of being a Treasurer. The Society Treasurer is responsible for managing the financial affairs of the society, and as such is a key member of the society’s board. Financial reporting. It is the Treasurer’s job to keep accounts and report to the committee. A Treasurer of an all volunteer organization will generally have more responsibilities than her counterpart in an organization with staff. Role of the Treasurer The Treasurer has day to day responsibility for dealing with the organisation’s money. It is not good practice for all tasks associated with the finance function to be performed by one person (whether a management committee member or staff) without supervision from others. The University of Glasgow Students’ Representative Council is a charity registered in Scotland. The treasurer is responsible for conference funds, which means: ü preparing the conference budget, This provides an opportunity for those with no experience of finance matters to develop their knowledge and skills. DIY Committee Guide by Volunteer Now is licensed under a Creative Commons Attribution Non-Commercial Share Alike 2.0. Ensure compliance with relevant legislation. The Treasurer is also interconnected with operational roles, in which the Treasurer acts as business partner and internal service provider in delivering services, including providing advice as the centre of excellence. Kindly supported by the Halifax Foundation NI for Northern Ireland and Big Lottery. 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