Role of the treasurer

While all members of the management committee are responsible for managing the association's finances, the treasurer is generally charged with the task of ensuring that financial transactions are properly recorded and reported on.  Note also that if the audited annual financial statements and associated documents are not lodged with the chief executive of the Office of Fair Trading as required under the Act, the treasurer is liable to a penalty (as are the president and secretary).

The treasurer presents financial reports at management committee meetings. It is important that these reports are easily understood by all the committee members because the whole committee is responsible for keeping a check on the finances of the organisation. Your group might need to organise some training for committee members to make sure this happens. Ask your auditor to recommend someone who can assist with this training. There should be receipts for all money received, evidence that it has been banked, and available documentation for all money paid out.

While the treasurer may not be able to do all these daily duties personally, it is the responsibility of the treasurer to ensure that good systems are in place to allow these tasks to be done efficiently and in a foolproof manner. Other tasks of the treasurer may include:

  • Making sure finances are well planned by preparing an annual budget and then regularly monitoring this budget to see that the organisation is staying within it.
  • Making sure that the books are up to date and in order – this means that there is a proper record of all payments and money received, and that accounts are reconciled at least once a month.
  • Taking reasonable steps to make sure that the organisation's finances are arranged so as to prevent funds from being stolen or misused.
  • Ensuring that the necessary information and account books are ready for an audit each year and that an audit takes place.

Audit

Auditors will usually provide valuable information to the organisation about the way the books are being kept and the general financial position of the organisation. It is essential that the whole management committee considers this information and does not see the auditor as simply 'checking up' on the treasurer once a year. Your constitution will require an audit to take place at a certain time, usually so that audited accounts can be presented at the Annual General Meeting. The specific tasks of preparing financial reports and maintaining the financial record-keeping system may be delegated to volunteers or a paid bookkeeper.

decorative
We have launched a brand new course on the Community Door eTraining website which provides an introduction to the social service sector in Queensland for managers and organisations new to the sector. It is free for anyone to access. It features a profile of the sector in Queensland, insights into...
The lack of gender diversity on boards in Queensland is being challenged under a State Government initiative launched at Parliament House in Brisbane today. Minister for Women Shannon Fentiman today announced the Towards Gender Parity: Women on Boards Initiative to increase the number of women on...
The Department of Communities, Child Safety and Disability Service's Social Service Performance and Reform Program is progressing priorities related to the following elements of the Department's Strategic Plan 2015 - 2019: Social Services and Reforms; and Community inclusion, participation and...
From August, the ACNC will be visiting over 25 regional and metropolitan locations in Australia to talk to charities. The Ask ACNC sessions will provide charities the opportunity to hear directly from one of the ACNC’s Commissioners. The sessions include an update on the work of the ACNC, issues...
The Guide for Community Financial Officers is designed to help Financial Officers of community organisations, of all shapes and sizes, to take on the role with greater knowledge and confidence and to help Board Members to understand what is required of a Financial Officer. This Guide is one of a...
Disaster resilience is "the ability of individuals, communities, organisations, or countries exposed to disasters and crises and underlying vulnerabilities to: anticipate, reduce the impact of, cope with, and recover from the effects of adversity without compromising their long-term prospects." (...
Australia is becoming more culturally diverse and many Australian organisations need support to effectively manage the opportunities and challenges that this cultural diversity brings. Research demonstrates that organisations that manage cultural diversity well can expect to receive a host of...
Grantseekers are applying for smaller numbers of grants, and have called on funders for greater support through both multi-year grants and grants covering core operational costs, according to the latest research report from the Australian Institute of Grants Management (AIGM). The survey is said to...
""
The Australian Insitute of Company Directors' (AICD) NFP Governance and Performance Study is an important initiative that helps identify the current challenges and opportunities facing the sector. 2016 is the seventh year they have run the study, making it the largest and longest running NFP...
Australia’s 600,000 charities and not-for-profits, from international aid groups right down to the local tennis club, have recently received a major boost, as Justice Connect’s Not-for-profit Law service launched the acclaimed Information Hub for a national audience. The Not-for-profit Law...

Pages

Are you looking for support in Queensland, or trying to find a service that meets your needs? Now you can search oneplace , the service directory hosted by the Queensland Family and Child Commission. oneplace is an easily accessible directory of community services to help Queensland families to get...
In Queensland the Office of Fair Trading regulates Associations and non-profits. https://www.qld.gov.au/law/laws-regulated-industries-and-accountability/queensland-laws-and-regulations/associations-charities-and-non-for-profits
A Blue Card Services online learning portal has been launched. The portal contains 10 videos which provide an overview of the legal requirement for organisations to develop a child and youth risk management strategy. The resources, in conjunction with the Child and Youth Risk Management Strategy...
The Community Resource Handbooks were launched by Volunteering Queensland on 12 May 2015. They consolidate the knowledge gained through Volunteering Queensland's community leadership work with more than 2,000 community groups over the past fifteen years. The handbooks are aimed at small to medium...
An inaugural benchmarking survey draws together insights from over 100 survey respondents on topics such as governance, strategy, fundraising, risk management and the use of volunteer and professional resources. The survey results highlight that many not-for-profit organisations rely heavily on...
Our Community Pty Ltd has published practical advice on finances for not-for-profit board members. The book is part of CommunitySmart, a national financial literacy program development by Commonwealth Bank Not for Profit Sector Banking and the Institute for Community Directors Australia (part of...
Australian Institute of Company Directors has completed a comprehensive study that examines governance practices and opportunities in Australia's NFP sector. Read more
A report by Diversity Council Australia (DCA) and Deakin University has found that the Boards of Australian companies are becoming more culturally diverse but they are still not reflecting the diversity of the broader Australian community. Read more
With funding provided by the Australian Government Child Care Services Support Program (CCSSP), Network SA have developed a financial literacy video resource to support directors and management committees of community based child care centres to read and understand financial reporting requirements...
This resource has been developed by Knode and Foresters to support boards and service managers assess their financial position and strategically build their organistion's financial sustainability. Building financial sustainability in your organistions contains tools to help you: Assess where your...
Changing your Legal Structure from an Incorporated Association in Queensland to a Company Limited by Guarentee
Industrial relations legislation in Queensland can be found on the Fair Work Commission's website . The main pieces of legislation are: Fair Work Act 2009 Fair Work Regulations 2009 Fair Work Commission Rules 2013
There are a range of legal structures which may be suitable for Queensland not-for-profit community groups. The four main options are: an incorporated association: Associations Incorporation Act 1981 (QLD) and Associations Incorporation Regulation 1999 (QLD) a company limited by guarantee:...
What do you need to succeed?
Author: 
Shelley Dunlop, QCOSS

Community Door hosts a number of useful tools and resources that can assist you with service delivery. These are all free and available for anyone to download. A few of the most popular tools are highlighted here.

...

Author: 
Tiffany Tento, Queensland Council of Social Service

National Reconciliation Action Week (27 May to 3 June) is celebrated in Australia each year, in commemoration of two significant milestones in the reconciliation journey – the anniversaries of the successful 1967 referendum and the High Court Mabo decision.

This year’s theme is ...

Board meeting seen from above
Author: 
Linda Hayes, Corporate Synergies Australia

In 2012, the Commonwealth Government established the Australian Charities and Not-for-Profits Commission (ACNC), with a remit to remove complex regulations and repetitive reporting burdens, to clarify the legal definition of charity, and to provide greater transparency for funders and the public...

Smiling people having a meeting
Author: 
Lauren Trask, QuIHN

If we combine the concepts of culture, leadership and governance we acknowledge the philosophy and the fundamental pillars that enable the non-government sector to meet the needs of communities that require support. When I work with an organisation my one question is “what level of quality do...

 Charles Clowes
Author: 
Charles Clowes, Australian Organisation For Quality

Within the organisational development toolkit the capability area of quality systems, innovation and improvement refers to staff and client contribution, innovation, quality culture and management, reporting, adaptability and improvement, legislation and risk management.

The...

""
Author: 
Darren Smith, Breaking New Ground

A new chapter in the story of the not-for-profit sector is being drafted. How do small to medium organisations ensure they're written into the script?

The not-for-profit sector has already experienced significant change and uncertainty over the last few years:

  • funding
  • ...
Author: 
Kylie Hogan, National Disability Services

The Community Services Industry is facing a myriad of reforms and challenges now and into the future. 

Challenges such as an ageing population, workforce shortages, sector-wide reforms, technological advances and economic uncertainty are making it more important than ever for...

Donate
Author: 
Shelley Dunlop, QCOSS

The Secretariat of National Aboriginal and Torres Strait Islander Child Care (SNAICC) has developed a detailed and easy to use resource to support Aboriginal and Torres Strait Islander community organisations in applying for endorsement as a...

Computer
Author: 
Craig Ford, Polymorphic Solutions

Your community organisation might have run on spreadsheets, shared folders and Access databases until one day, when you realised the systems don’t talk to each other and your organisation can’t grow without a single integrated system. Then it is time to consider a CRM (Client Relationship...

ACNC logo
Author: 
Anne Curson, Queensland Council of Social Service

In recent years the “governance” of not-for-profit organisations has been much talked about. The introduction of Governance Standards  by the Australian Charities and Not-for...

Pages

See videos from StudioQ related to this topic

Share or Print