Treasurer

Treasurer Role Description

The overall role of a treasurer is to:

• Maintain an overview of the charity’s affairs

• Ensuring its financial viability

• Ensuring that proper financial records and procedures are maintained

General responsibilities

• To ensure that the charity complies with its governing document, charity law, company law and any other relevant legislation or regulations

• To ensure that the charity pursues its objects as defined in its governing document

• To ensure the charity applies its resources exclusively in pursuance of its objects (the charity must not spend money on activities which are not included in its own objects, no matter how worthwhile or charitable those activities are).

• To ensure the financial stability of the charity

• To protect and manage the property of the charity and to ensure the proper investment of the charity’s funds

Additional duties of the treasurer

• Overseeing, approving and presenting budgets, accounts and financial statements

• Being assured that the financial resources of the charity meet its present and future needs

• Ensuring that the charity has an appropriate reserves policy

• The preparation and presentation of financial reports to the board

• Ensuring that appropriate accounting procedures and controls are in place

• Liaising with any paid staff and volunteers about financial matters

• Advising on the financial implications of the charity’s strategic plans

• Ensuring that the charity has an appropriate investment policy

• Ensuring that there is no conflict between any investment held and the aims and objects of the charity

• Monitoring the organisation’s investment activity and ensuring its consistency with the charity’s policies and legal responsibilities

• Ensuring the charity’s compliance with legislation

• Ensuring equipment and assets are adequately maintained and insured

• Ensuring that the accounts are prepared and disclosed in the form required by funders and the relevant statutory bodies, e.g. The charity commission and/or the registrar of companies

• If external scrutiny of accounts is required, ensuring that the accounts are scrutinised in the manner required (independent examination or audit) and any recommendations are implemented

• Keeping the board informed about its financial duties and responsibilities

• Contributing to the fundraising strategy of the organisation

• Making a formal presentation of the accounts at the annual general meeting and drawing attention to important points in a coherent and easily understandable way

Treasurer person specification

• Commitment to the organisation

• Willingness to devote the necessary time and effort

• Strategic vision

• Good, independent judgement

• Ability to think creatively

• Willingness to speak their mind

• Understanding and acceptance of the legal duties, responsibilities, and liabilities of trusteeship

• Ability to work effectively as a member of a team

• Nolan’s seven principles of public life: selflessness, integrity, objectivity, accountability, openness, honesty and leadership

• Financial qualifications and experience

• Some experience of charity finance, and fundraising

• The skills to analyse proposals and examine their financial consequences

• Preparedness to make unpopular recommendations to the board

• Willingness to be available to staff for advice and enquiries on an ad hoc basis

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