The Role of a Treasurer

These notes should be read and used together with any relevant sections of the Association's Constitution. The Honorary Treasurer is a person appointed by the members to be responsible for all funds received and expended by the Association.

There may be sub-committees and sub-groups, each with a treasurer, but the person elected or approached by the general membership of the Parents and Friends' Association as the Association's Honorary Treasurer is the person ultimately responsible for all funds. This isn't as frightening as it may sound but is nevertheless something that should be remembered by everyone in the Association.

What are a Treasurer's Duties?

• To maintain adequate books of account.
• To be responsible for the receipt of all moneys received by the Association.
• To ensure that all monies received are paid into the bank.
• To pay accounts due by the Association.
• To ensure that the books of account are audited before the Annual General Meeting.
• To present an Audited Statement of Receipts and Payments to the Annual General Meeting.
• To present financial reports at other times as directed by the President.

Procedures

There are some comments on the correct procedures which should be made.

It is important that all books of account are kept right up to date and that entries are legible. If a mistake occurs - don't blot it out, simply put one line through it and write the correct entry above or below - auditors don't mind errors so long as they can see what happened.

All moneys must be banked. This is important and is for the Treasurer's protection. Don't take out money to pay bills or for petty cash - bank it all then write a cheque for petty cash; it helps in efficient accurate accounting.

Cheques should require at least two (2) signatures - again this is for the Treasurer's protection. No signatures should be placed on a cheque until the details of the Payee and Amount have been entered.

Remember, the Honorary Treasurer is the steward and not the owner of the funds.

A decision by the Association to expend funds is a directive to the Treasurer.

Cheques must be completed before signing.