THE TREASURER AND THE FINANCE COMMITTEE
The Treasurer would normally act as Chairman of the Finance Committee and the responsibilities of this important role within the club are set out below:
- Ensure that the financial transactions of the club are regularly recorded and balanced. Inspection of the basic records and private ledger should be undertaken as a regular duty to monitor this aspect;
- Check that receipts are banked on a regular basis – if not daily, then at least three times per week. This procedure will help to maintain the minimum level of cash on the premises to meet requirements;
- Ensure that all appropriate returns for liquor, poker machines, taxation etc. are prepared by the Club Manager and submitted within prescribed time limits;
- Ensure that poker machines are cleared in accordance with laid down procedures and that appropriate analysis of results is tabled at monthly meetings, together with a report on the general financial position of the club;
- Authorise for payment and sign in conjunction with the Club Manager cheques issued by the club. Signing of the cheques allows the Treasurer to keep their finger on the pulse in relation to expenditure. It is appreciated that the Treasurer will not be available at all times and on these occasions cheques should be signed by another Director;
- Assist the Club Manager in the preparation of income and expenditure and capital expenditure budgets for submission to the Board at its first meeting of the year.
- Together with members of the Finance Committee, formulate policies on financial matters for recommendation to the Board;
- Review procedures for recording and accounting for cash receipts in the club to ensure efficiency and probity in all areas of operations;
- Ensure that employee records relating to all entitlements of holiday pay, sick pay, long service leave, credits for working on rostered days off, etc. are correctly maintained. The importance of this aspect cannot be over-emphasised as good records will lessen the possibility of industrial problems when employees leave the club's service;
- At year end, oversee preparation of final accounts, have them approved by the Board and present them at the Annual General Meeting.
While the specifications of duties for the Treasurer appear to be onerous for one person, they are a very important link in the implementation of internal controls, through their overview of the financial and monetary operations of the club.
Here's a free resource "Damn Good Advise for Treasurers" from ourcommunity.com.au providing handy tips for the role….[click here]