Role and Responsibilities of a Treasurer

Created by Thomas Weller, Modified on Tue, 31 Oct 2023 at 02:20 PM by Thomas Weller

The Treasurer plays a vital role in managing the financial aspects of a group's operations. This role involves overseeing financial transactions, budgeting, requesting funds, maintaining accurate records, and providing financial transparency to the group's members through reports at the Annual General Meeting (AGM). 

A treasurer should be well-organized and good with numbers!

Financial Management - The Treasurer is primarily responsible for the group's finances. They handle incoming funds, monitor expenses, and maintain a clear overview of the group's financial health. This involves tracking all financial transactions and ensuring that the group's expenditures align with its budget and goals. 

Finance Requests - The Treasurer manages finance requests from committee members. They review and approve or decline requests based on the group's budget and policies. This involves careful consideration of whether the proposed expenditure contributes to the group's objectives. 

Budgeting - The Treasurer collaborates with other committee members to develop and manage the group's budget for the year. They help allocate funds to various events and activities, making sure that the budget is balanced and realistic. 

Financial Report - At the end of the year, the Treasurer is responsible for preparing a detailed financial report to present at the AGM. This report outlines the group's income, expenditures, and the reasons behind each financial transaction. It provides transparency to members and demonstrates how the group's finances were managed throughout the year. 

Products and Tickets - The Treasurer may have the responsibility to request new products or merchandise to be added to the group's webpage or online store. This involves coordinating with vendors, managing inventory (if applicable), and ensuring that the online store accurately reflects available products. 

Financial Compliance - The Treasurer must ensure that the group's financial practices adhere to any university, Union or organizational regulations. They maintain accurate records that can be audited if necessary.

Refunds - In the event that a member requests a refund for membership or a product, the treasurer should get the necessary information from the member and provide it the SU so that finance request can be processed at the discretion of the student group.

Sponsorships - Some Treasurers will be responsible for sourcing a sponsor for the student group. A sponsorship should be a partnership that benefits both parties and gets some money secured for the student group.

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