How are we going to pay the bills this month? What are we going to do?

I am sure you have heard this all before whether you are a treasurer of the school P&C, the local sporting club or your community club, the list is endless.

The treasurer role is often a thankless volunteer role.

You don’t want to be known as the “NO” person.

The President cannot be the treasurer due to a conflict of interest & ensure segregation of duties.

Seek a mentor or advice or guidance your state/national body.

The treasurer’s 10 commandments

• Maintain secure computer-based accounts & banking system. (Xero or similar cloud-based)
• Issue receipts.
• Prompt banking.
• Try to move away from cash
• Do not pay without the authority of the committee.
• Do not issue petty cash without receiving a voucher.
• Distinguish between capital, revenue & expenditure.
• Reconcile the balance shown on the bank statements to the finance system.
• Report the past, present & future financial progress & position to all committee meetings & the AGM.
• Faithfully discharge your responsibilities to the committee, its members, its sponsors & others with whom it does business.

Treasurers can also have fun, be part of your community club.

#getontrack #strategy