The overall role of a treasurer is to:
- maintain an overview of the scheme’s affairs
- ensure its financial viability
- ensure that proper financial records and procedures are maintained.
- To ensure that the scheme complies with its governing document, charity law, company law and any other relevant legislation or regulations.
- To ensure that the scheme pursues its objects as defined in its governing document.
- To ensure the scheme applies its resources exclusively in pursuance of its objects (the charity must not spend money on activities which are not included in its own objects, no matter how worthwhile or charitable those activities are).
- To contribute actively to the board of trustees’ role in giving firm strategic direction to the scheme, setting overall policy, defining goals, setting targets and evaluating performance against agreed targets.
- To safeguard the good name and values of Home-Start and the scheme.
- To ensure the effective and efficient administration of the scheme.
- To ensure the financial stability of the scheme.
- To protect and manage the assets of the scheme and to ensure the proper investment of scheme funds.
- To ensure the scheme complies with the Quality Assurance standards and criteria relating to financial management.
In addition to the above statutory duties, each trustee should use any specific skills, knowledge or experience they have to help the board of trustees reach sound decisions. This may involve:
- scrutinising board papers
- leading discussions
- focusing on key issues
- providing guidance on new initiatives
- other issues in which the trustee has specific expertise
- sitting on recruitment, discrimination and grievance panels as required
- contributing to sub committees and working groups.
Additional duties of the treasurer:
- Overseeing, approving and presenting budgets, accounts and financial statements.
- Being assured that the financial resources of the scheme meet its present and future needs.
- Ensuring that the scheme has an appropriate reserves policy.
- The preparation and presentation of financial reports to the board.
- Ensuring that appropriate accounting procedures and controls are in place.
- Liaising with any paid staff and volunteers about financial matters.
- Advising on the financial implications of the scheme’s strategic plans.
- Ensuring that the scheme has an appropriate investment policy.
- Ensuring that there is no conflict between any investment held and the aims and objects of the charity.
- Monitoring the scheme’s investment activity and ensuring its consistency with the organisation’s policies and legal responsibilities.
- Ensuring the scheme’s compliance with legislation.
- Ensuring equipment & assets are adequately maintained and insured.
- Ensuring that the accounts are prepared and disclosed in the form required by funders and the relevant statutory bodies i.e. The Charity Commission and/or the Registrar of Companies.
- Where external scrutiny of accounts is required, ensuring that the accounts are scrutinised in the manner required (independent examination or audit) and any recommendations are implemented.
- Keeping the board informed about its financial duties and responsibilities.
- Contributing to the fundraising strategy of the scheme.
- Making a formal presentation of the accounts at the annual general meeting and drawing attention to important points in a coherent and easily understandable way.