Role of Treasurer

Sound financial management makes an organisation more credible and the role of the treasurer is all the more important as the handling of a group’s finances has a direct bearing on how it is perceived both by the public and by funders. 

Keeping your group’s finances in order is a legal duty for any incorporated group or groups with charitable status.

The main duties of the Treasurer are to:-

  • keep accurate records of all financial transactions (income and expenditure)
  • manage petty cash, sign cheques and retain safe keeping of the cheque book
  • collecting membership subscriptions, unless there is a membership secretary
  • the treasurer should not make decisions on spending, other than on small amounts, this is something for the committee to discuss and agree on

Financial Reporting

The Treasurer is responsible for keeping the committee informed about the group's financial position in easily understood terms, so that they can make decisions in full knowledge of the implications. Financial reporting includes:-

  • informing the group about likely income and projected expenditure, prepare estimates, cash flows and budget plans
  • pulling together financial information from a day book (or ledger) and the petty cash into the annual accounts. The format of the Annual Accounts will depend on your group’s legal structure and income

The Treasurer and fundraising

Fundraising is the responsibility of the whole group, and should not be left to the treasurer; however the treasurer is often the most obvious person to assist with fundraising and funding applications. This is something your whole committee should decide and review.

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Last Updated 04/02/2013 12:17