What is the role of a Treasurer?

Being a society treasurer is much more than just Master of coin jokes. It takes organisation, attention to detail, being a stickler for deadlines and keeping a tight hold on all those receipts.

A Treasurer’s remit is to provide the club/society with sound financial administration so that all aspects of a club’s funds are properly managed and accounted for.
If a club or society is applying for an SRC grant they will liaise closely with the SRC Clubs and Societies committee and will be expected to ensure the society fulfils all criteria required for the grant if awarded one.

Specific Duties
 

  • To be responsible for a club or society’s accounts and petty cash, club cheque book(s) and other bank and building society books and giving out receipts on behalf of the club.
  • To oversee the management of any membership funds that are payable to the society.
  • To oversee the financial side of all club/society activities, such as social events and fundraising events.
  • To ensure prompt payment of all other society agreed expenditure
  • To keep all records and accounts safely for the duration of office and to hand them over in their entirety to their successor. This includes registering new bank signatories when handing over the society bank accounts.
  • To prepare an annual financial report for the Annual General Meeting. The finances of a society need to be transparent to members.
  • To be the main point of contact with the SRC if the society applies for an SRC grant and ensure that all grant criteria are complied with.

 

Annual General Meeting

It is the treasurer’s responsibility to present a report at the AGM detailing the club or society’s expenditure over the past year and answer any questions from club members.

The basics of being a treasurer. 

Do keep careful track of your bank balance.

  • Do keep all your bank statements and receipts.
  • Do keep a cash book (even as a backup to a spreadsheet).
  • Don’t lend any club/society money to members.
  • Don’t reimburse a society member unless they supply you with receipts.
  • Don’t sign blank cheques.