Leadership Treasurer of an Organization

Most volunteer organizations do not have large sums of money -- just enough for postage stamps, supplies, and miscellaneous expenses. However, handling even a moderate amount of money is a big responsibility, especially when it belongs to your club.

As club treasurer you will be expected to collect, deposit, disburse, record, and report on the financial transactions of your group. The membership looks to you for answers about the organization's financial policies.

You will find your job easier if you help the club plan in advance the amount of money needed and how the funds will be raised. This budget provides a framework for club spending.

You may serve as an ex officio member of the finance committee or any other committee involved in the raising or spending of the club's money.

As treasurer in charge of the all the club's funds, you need to be organized. Lists must be made, records kept, and reports filed, and they all have to be accurate.

It also is your responsibility to:

• Present a financial statement to the club when the president requests it.
• Make an annual financial report.
• Pay all bills authorized by the club. Checks are signed by the treasurer and the president in some clubs.
• Get a receipt for every club item paid, and give a receipt to anyone who gives you money for the club. Receipts are evidence of how the funds have been handled. Receipts also can help answer questions about the club's income and expenses.
• Have specific authorization from the club before spending its money.
• Ask for an annual audit of the books.
• Keep accurate, up-to-date records of the organization's financial activities.

The treasurer's report at each meeting can be brief, but it should give the balance at the beginning and end of period for which the report covers. You will want to include the income and the expenditures.

After completing the report, ask that it be recorded in the minutes or filed for audit.

The annual report is easier for members to understand if they have a copy to follow. The annual report should be audited. Move that the auditor's report be accepted after the report is given.

• You will work closely with the secretary on membership contributions and the club roll.
• The secretary's minutes provide authority for expenditure of funds.
• The finance committee's approved budget gives you the authority to pay bills up to the amount budgeted for that item.
• Always inform the president about the club's financial status.

Revised and distributed by the Community Development Department

Mississippi State University does not discriminate on the basis of race, color, religion, national origin, sex, age, disability, or veteran status.

Information Sheet 1408
Extension Service of Mississippi State University, cooperating with U.S. Department of Agriculture. Published in furtherance of Acts of Congress, May 8 and June 30, 1914. Ronald A. Brown, Director
 

Copyright by Mississippi State University. All rights reserved.

This document may be copied and distributed for nonprofit educational purposes provided that credit is given to the Mississippi State University Extension Service.

Visit: DAFVM || USDA
Search our Site || Need more information about this subject?
Last Modified: Thursday, 12-Dec-02 11:02:36
URL: http://msucares.com/pubs/infosheets/is1408.htm
Mississippi State University is an equal opportunity institution.
Recommendations on this web site do not endorse any commercial products or trade names.