One member of the management committee of the club undertakes the role of the treasurer who is responsible for the finances of the club. All management committee members retire each year but are eligible for reappointment.
The financial year of the club ends annually on 31st December and a statement of annual accounts is presented by the treasurer at the Annual General Meeting (AGM). The role of treasurer for the forthcoming year is delegated to a member at a committee meeting following this.
The role of the treasurer is to empower the committee to financially manage the club, protect of the club’s cash, assets and the volunteers who handle them and ensuring the collection all revenues and payment of all financial obligations. It is also to provide the committee with all the financial information it requires to ensure the financial sustainability of the club. The treasurer must also ensure that all financial transactions are recorded promptly in the club’s accounts and producing the club’s financial reports for presentation to the committee and the members at the AGM, as well as complying with any other financial reporting obligations contained in the club rules, constitution or in legislation.
The responsibilities of the treasurer also include:
- Maintaining up to date procedure notes to assist in maintaining continuity and portability on the hand-over of the role,
- Obtain and share with the committee advice on on-line security, follow this advice and comply with GDPR.
- Ensure the club bank mandate is kept up to date and secure access to bank and any other online collection and payment systems is maintained for the relevant committee members including their access for dual administration and dual authorisation of all external payments.
- Maintain a back-up copy of all financial records on cloud or other secure shared storage accessible to other committee members.