The treasurer's job is in many ways the most important job on the board of an organisation. The club treasurer is responsible for all of a club's monies, both incoming and outgoing, and needs to keep accurate records to ensure legal compliance.
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Collecting dues is a near-universal job of a club treasurer. The job of collecting dues begins when the club's year begins, whether that is August, as is typical of school clubs, or January, as with service organisations. The job of collecting dues is simple but requires good record-keeping. Treasurers should keep a list of people who have paid their dues so as to keep up with club membership.
One of the treasurer's jobs is to pay bills for the clubs. In school settings, this bill-paying may be done through requisitions from school administrators, while in community organisations, the club typically will have a current account. The treasurer needs to record all bills paid and why they were paid in case further explanations are required later.
Preparing a Budget
The budget is the foundational document of a club. Though some clubs prefer to plan an event and then find a way to fund it, doing so can cause a strain for the club. The club treasurer should insist on putting together a budget before beginning any fundraising efforts. The budget should include all expenses, even small copying and other administrative expenses.
Reporting Financial Information
A typical organizational board meeting will require a financial report from the club's treasurer. This financial report should include the starting and ending balances of any accounts. Any money collected should be covered, and bills paid should be listed. The financial report should be easy to understand, even for non-financial persons, and the treasurer should be open to answering questions about it.
Preparing a Successor
When a new treasurer is elected, the current treasurer will need to prepare that person by explaining the record-keeping process and letting the successor get a look at all of the information.
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