The role of the treasurer
The Treasurer's role in a Club is a very important one, for the information provided to other Board or Committee members is often critical to decision making and the financial future of the Club.
The Treasurer is responsible for the financial management of the Club, which means having proper control over the handling and recording of cash received, cash payments and reporting of these transactions.
Clubs with good financial control, prepare annual budgets and the Treasurer reports to the Committee on a monthly basis on the Club's actual results compared to budget.
The Treasurer is the chief financial management officer for the Club. The Treasurer’s tasks include:
- Preparing the annual budget
- Planning for the Club's financial future
- Regularly monitoring revenue and expenditure
- Helping other committee functional areas with financial matters
Members assisting in the area of financial management should have the necessary skills to complete the tasks. If not, the Club must ensure that they are provided with training relevant to their area of responsibility. The volume and nature of the work will depend on the size of the Club, the activities in which the organisation is involved, and whether the organisation owns facilities and/or employs staff. Generally, larger Clubs have a finance sub-committee to assist the Treasurer.
An effective Treasurer generally needs the following skills and attributes:
- Honesty and integrity
- Enthusiasm for the task
- Good organisational skills
- A good eye for detail
- Good at making decisions
- An ability to work in a logical and orderly manner
- An ability to allocate regular time periods (e.g. weekly or monthly) to maintain the books
- An ability to keep good records
- An awareness of procedures for handling cash, cheques and other financial transactions
- A willingness to learn new skills, if necessary
Click here for a position description for the role of Treasurer.
Acknowledgements
Reproduced with permission from the Australian Sports Commission.
