If you want to know more about the role of a treasurer, Holy Brook Associates runs a course ‘Don’t panic – Role of a treasurer’. This course goes into more detail regarding: the financial responsibilities of trustees, gives a greater understanding of the requirements of small voluntary organisations, provides resources that are of great help for a treasurer and goes through worked examples of resolving issues with record keeping etc. For more information on this and other support we offer charities contact Rachel Eden.
WHAT ARE THE RESPONSIBILITIES OF A TRUSTEE?
All trustees are responsible for ensuring the charity is running well. The main duties include:
- Ensuring the charity is carrying out its purposes for the public benefit
- Complying with the charity’s governing document and the law
- Acting with the charity’s best interests
- Managing the charities resources and responsibilities
- Acting with reasonable care and skill
- Ensuring the charity is accountable
WHAT ARE THE RESPONSIBILITIES OF A CHARITY TREASURER?
The role of a treasurer does not have any additional powers as each trustee is equally responsible to make sure that the charity produces the necessary documents.
However, the role of a treasurer is to oversee the financial affairs of the charity and monitor and report on the financial health. The treasurer is often the person the trustees look for when needing advice, guidance and reassurance on all aspects of the financial management and reporting.
Duties may include:
- General financial oversight: ensure compliance with relevant legislation
- Fund-raising and sales: advising the organisation’s fund-raising strategy
- Financial reporting: present accounts at the AGM
- Control of fixed assets and stock: ensure proper records are kept
SO, WHY SHOULD I CONSIDER THIS ROLE?
GIVING BACK TO YOUR COMMUNITY
If you are passionate about a charity and their causes, putting yourself forward for the role is the perfect opportunity to do something for your community and the charity.
GAINING NEW SKILLS
You’ll help grow and develop skills of strategic thinking. Even if you already have experience in this skill, it can be stimulating to use it in a different context which may bring different challenges.
This role allows you to meet people from your local community that maybe you’d never have the chance to meet unless under these circumstances.
Putting your financial experience to use can really make a big difference to the charity. You can really help to be part of the decision making that will impact the community positively and share your knowledge.
Being a charity treasurer is really a very different experience. It offers the opportunity for professional development and it can really help boost your CV.
WHERE ELSE CAN I FIND SUPPORT?
The Honorary Treasurers forum offers support and networking for those who take the role of treasure on nonprofit boards.
Are you a charity treasurer or trustee? We’d love to hear your experience, let us know why you took on this role.