A Treasurer’s remit is to provide the club/society with sound financial administration so that all aspects of a club’s funds are properly managed and accounted for.
If a club or society is applying for an SRC grant their application will be assessed by the SRC Clubs and Societies committee. The club/society will be expected to ensure they fulfil all criteria required for the grant if awarded one.
- To be responsible for a club or society’s accounts and petty cash, club cheque book(s) and other bank and building society books, and giving out receipts on behalf of the club/society.
- To oversee the management of any membership funds that are payable to the society.
- To oversee the financial side of all club/society activities, such as social events and fundraising events.
- To ensure prompt payment of all society-agreed expenditure.
- To keep all records and accounts safely for the duration of office and to hand them over in their entirety to their successor. This includes registering new bank signatories when handing over the society bank accounts.
- To prepare an annual financial report for the Annual General Meeting. The finances of a society need to be transparent to members.
- To be the main point of contact with the SRC if the society applies for an SRC grant and ensure that all grant criteria are complied with.
Annual General Meeting
It is the Treasurer’s responsibility to present a report at the AGM detailing the club or society’s expenditure over the past year and answer any questions from club/society’s members.
The basics of being a Treasurer.
- Do keep careful track of your bank balance.
- Do keep all your bank statements and receipts.
- Do set up online banking for your account and consider opting for paperless statements. Online banking will allow you to access your bank account remotely and going paperless will negate the possibility of important correspondence from your bank being lost in the post.
- Do keep a cash book (even as a backup to a spreadsheet).
- Don’t lend any club/society money to members.
- Don’t reimburse a society member unless they supply you with receipts.
- Don’t sign blank cheques.
We now have a Club Management System on our new website, where clubs can securely store their documents. This function will be made available to clubs, once they have attended the compulsory training. You can find the dates for the training here.
If you have any questions relating to the financial management of your club/society please contact firstname.lastname@example.org