The Club Treasurer is responsible for the managing the flow of money into the club and for allocating and recording how that money is spent to run the club. This is a vital role in a club as the treasurer works to ensure the club is able to meet its day-to-day expenses and prompts the need for increased club fundraising where a shortfall in income exists. The treasurer also works in conjunction with the chairperson in planning the development of the club e.g. creating annual budgets, estimating funds required for a capital project like a new clubhouse and projecting membership and income for future years to contribute towards prudent planning of the club’s future.
Like any position with a responsibility for handling money, the treasurer is expected to be transparent and honest in their dealings with as a representative of the club. Good record keeping is essential and while a background in finance or accounting is not imperative for this role, it is preferable to have someone who is experienced in managing accounts.
The club treasurer typically manages the finances of the club, reports on the clubs financial performance and spearheads the fundraising effort to ensure the club has the necessary funds to be successful.
The treasurer takes responsibility for the following:
- Creating and maintaining the club’s annual budget
Ahead of the club AGM.
- Working with other club officers to generate and collect funds
- Ensuring accurate and up-to-date records of all club income and expenditure
- Payments to third parties
- Prepare and issue invoices
- Manages the club’s bank account
The club treasurer is responsible for maintaining the club’s bank records. This involves collecting incoming funds from all club activities including membership payments, sponsorship and fundraising, lodging the funds to the club bank account either by transferring electronically (or in person) and for reconciling bank records against those money-generating activities.
- Issue payment reminders
- Seeking approval of the club’s committee for major expenditures
- Preparing financial statements ahead of the Annual General Meeting
- Reporting on the club’s financial performance at the club AGM
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If you are interested in this position or have any further questions, fill out the form below.