How Can We Help?

03. The Treasurer

Back to Main KB Page

The Treasurer

The Role

The role of the Treasurer at Greensborough HC is to be responsible for the management of the club finances.

  • prepare and maintain financial budgets and statements
  • submit an audited financial statement to the Annual General Meeting
  • prepare and maintain adequate financial records in accordance with good accounting practice and law
  • receive and ensure all monies are banked promptly
  • invoice and collect payments
  • pay accounts

The treasurer must also ensure that all financial transactions are recorded in the club’s accounts and producing the club’s financial reports for presentation to the committee, the members at the AGM, as well as complying with all financial reporting obligations contained in the club rules and the Incorporated Associations legislation.

Empowering the committee to manage the financial affairs of the club

  • Preparation of a club budget and cash flow projection at the start of the year for review and sign off by the committee
  • Record all financial transactions in the clubs accounting system as well as maintaining a list of club assets and liabilities.
  • Comparing actual financial results of a given period to budgets for the same period and provide explanations for any variances for the committee to review and take action in a timely manner
  • Provide monthly profit and loss reports and balance sheet to the committee each month (generally presented at each committee meeting)
  • Provide a list of payments for the previous month to the committee each committee meeting
  • Provide a list of revenues outstanding and payments to be made to the committee each committee meeting

Protect the club’s assets, cash and the volunteers who manage them

  • Implementing financial management procedures which protect both the club’s funds and assets and the volunteers who handle them
  • Control the club bank account(s), ensuring only those authorised are bank account signatories
  • Ensure as many payments as possible are undertaken via Electronic Funds Transfer (requiring two signatories before payments can be made)
  • Ensure as much revenue as possible is collected using online payments
  • Ensure all approved expenditure is paid as when it falls due
  • Ensure all moneys due to the club are collected

Financial reporting

  • Ensure the audit is completed in time for the financial reports to be presented to members at the Annual General Meeting
  • Produce the financial report to members to be presented at the Annual General Meeting
  • Undertake all legislatively required reporting and submissions

Essential Skills

  • Enthusiastic and well organised.
  • Ability to keep concise financial records in the clubs accounting system.
  • Ability to allocate regular time periods to maintain the financial records of the club.
  • Diligent with receipts and money.
  • Ability to work in a logical and orderly manner.
  • Honest and trustworthy.
  • Financial accounting or book keeping experience preferred.
  • Computer skills.

Requirements

The Treasurer is expected to:

  • Act in the best interest of the members at all times
  • Attend all Committee members
  • Undertake the role in good faith and honesty
  • Hold or willing to apply for a current volunteer’s “working with children” check

If at any stage the Treasurer becomes aware of a personal conflict of interest, real or perceived between themselves and the club, they should immediately notify the Club President of the conflict who will immediately inform all other committee members.

End of year hand over

Updating key documents

At the end of each year a key activity of the Treasurer will be to review and revise their position description and any other policies and procedures for which they are responsible to ensure it they continue to reflect the requirements of the role.  The updated Position Description and other documents must be provided to the Club Secretary prior to the Annual General Meeting each year.

Induction of the incoming Treasurer

An important responsibility of outgoing Treasurer is to train, mentor and support the incoming Treasurer.