Job Description For A Charity Treasurer

treasurerClear role descriptions for trustees and specific officers on the trustee board will help your trustees understand their duties.

The Treasurer of a small community group or voluntary organisation may perform all duties concerned with dealing with money. So the treasurer may also, in effect, be the bookkeeper and finance manager. This job description will therefore need to be adapted according to the circumstances of your organisation.

Treasurer

Overall

  • Oversee the financial affairs of the organisation and ensure they are legal, constitutional and within accepted accounting practice.
  • Ensure proper records are kept and that effective financial procedures are in place.
  • Monitor and report on the financial health of the organisation.
  • Oversee the production of necessary financial reports/returns, accounts and audits.

Specifically

  • Liaise with relevant staff, committee members and/or volunteers to ensure the financial viability of the organisation.
  • Make fellow committee members aware of their financial obligations and take a lead in interpreting financial data to them.
  • Regularly report the financial position at committee meetings (balance sheet, cash flow, fundraising performance etc).
  • Oversee the production of an annual budget and propose its adoption at the last meeting of the previous financial year.
  • Ensure proper records are kept and that effective financial procedures and controls are in place, ie:
    • Cheque signatories
    • Purchasing limits
    • Purchasing systems
    • Petty cash/ float
    • Salary payments
    • Pensions
    • PAYE and NI payments
    • Others as appropriate
  • Appraising the financial viability of plans, proposals and feasibility studies.
  • Lead on appointing and liaising with auditors/an independent examiner.

If the Treasurer is expected to undertake all finance duties consider adding:

  • Undertake bookkeeping duties and/or oversee the finance volunteer ensuring posting and bookkeeping is kept up-to-date.
  • Maintain the petty cash system and regularly process petty cash claims.
  • Regularly carry out reconciliations/ oversee regular reconciliations by the finance volunteer.
  • Arrange payments to creditors as appropriate and arrange appropriate signatures on payments.
  • Make the necessary arrangements to collect payments from debtors and bank payments promptly.

Qualities

  • Knowledge and experience of current and fundraising finance practice relevant to voluntary and community organisations.
  • Knowledge of bookkeeping and financial management (as necessary).
  • Good financial analysis skills.
  • Ability to communicate clearly

As trustees, you share responsibility for governing your charity regardless of whether individual trustees have specific roles. For example, your charity may have a treasurer, but all the trustees are responsible for its assets and finances.

Changing Your Charity’s Financial Year

You cannot change your charity’s financial year or period if your latest annual return and accounts (if required) are overdue.

charity collecting tinRules for charities that are not companies

If your charity is a charitable incorporated organisation (CIO) or unincorporated (not a company) you can change the financial year or period to run for more or less than 12 months.

It needs to be a minimum of 6 months, and no longer than 18 months.

You can only:

  • change the dates for your current financial year
  • make a change once every 3 years

Changing your financial year or period will also change your deadline for filing the annual return and accounts.

Rules for charities that are companies

If your charity is incorporated (a company) you can shorten your financial year or period as often as you’d like.

The minimum period you can shorten it to is 1 day.

You can lengthen your company’s financial year to a maximum of 18 months, but this can only be done once every 5 financial periods.

Rules for newly registered charities

If your charity is newly registered, and you have not submitted an annual return you will need to request permission to change your financial year.

To sign in and change your financial year you will need your:

This password gives people in your charity access to detailed information about your charity and individuals connected with it.

When giving access to this password you need to have measures in place to make sure the system is only used for proper purposes, and that the information accessed through the Commission’s services will be treated carefully and sensitively and in accordance with legal requirements including the General Data Protection Regulations (GDPR).

Read the privacy notice before you use the service.

The Andrew Buxton Memorial Award 2018

Staff and Trustees receive the award

Staff and Trustees receive the award

We were very pleased to pay a visit to this year’s winners of the Andrew Buxton Memorial Award for the best kept set of accounts.

The winners are Bakewell Town and Community Trust, and they made us very welcome at their offices in Bakewell Town Hall.  The award was presented by Mrs Janet Buxton.

If you would like details of how your organisation can win next year, please contact us here

Andrew Buxton Memorial Award 2017

Andrew Buxton Award Presentation04Last Thursday we had a trip out to Women’s Work, Derby to the presentation of the Andrew Buxton Memorial Award 2017.  The certificate and cheque were presented by Mrs Janet Buxton.

They won the award for presenting the best-kept set of accounts this year.  One might think that this is the sole responsibility of the Finance Officer, but they are only able to do their job well if the rest of the team work with them.  Women’s Work Derby are a shining example of how to work as a team, and their award is well deserved.

Balance Sheets

balancing-sAgain, it’s nothing to do with acrobatics – but we liked the picture!!

The balance sheet is the second-most-important financial statement that an accounting system produces, after an income statementA balance sheet reports on a business’s assets, liabilities, and reserves at a particular point in time

  • The assets shown on a balance sheet are those items that are owned by the business, which have value and for which money was paid
  • The liabilities shown on a balance sheet are those amounts that a business owes to other people, businesses, and government agencies
  • Reserves are the amounts that the charity has generated over the lifetime of its existence

As long as you understand what assets and liabilities are, a balance sheet is easy to understand and interpret

News from the Charity Commission

Do small charity annual reports and accounts meet the reader’s needs?

We are reviewing small charities’ annual reports and accounts because they are the prime means by which the trustees are publicly accountable to donors, beneficiaries and the wider public for the charity’s activities and how they have used the charity’s money.  Good reporting is important to public trust and confidence in both the reporting charity and the wider charity sector.

We were led us to focus on the following criteria:

  • have the trustees provided us with both an annual report and accounts?
  • does the annual report explain what activities the charity had carried out during the year to achieve its purposes?
  • do the accounts contain both an analysis of receipts and payments and a statement of assets and liabilities and are these consistent with each other?

You can find out more details here

The Andrew Buxton Memorial Award

http://www.burbankfilmfest.org/wp-content/uploads/2014/09/nomination_envelope.pngThe Andrew Buxton Memorial Award
As many of you will be aware, Andrew Buxton was the chair of our trustees until his untimely death.
In his honour, a special award is to be presented to the group which presents the best-kept set of accounts this year.  We will be judging the entries next month, so if you have not yet had your accounts looked at by us this year, then you can read some Top Tips for presenting your accounts in our current newsletter

Excel Spreadsheet Printouts

Excel is a great piece of software for a treasurer to use to keep track of their accounts.

BUT – can you print out a hard copy for your accountant without having to stick many pages together?

If you need help to achieve a workable spreadsheet system, then look out for our training courses.

Some comments from previous participants:

It was very useful and informative

Good handouts

Everything was explained very well

The tutor was very informative and knowledgeable

I learned some useful keyboard shortcuts

Contact us here if you would like to be put on the waiting list for the next course in September