Board Treasurer

Duties Specific to the Board Treasurer

• Oversee the development of high level financial policies and their review by the board
• Aid in the preparation of the annual budget and its presentation to the board for review
• Ensure that appropriate monthly or quarterly financial statements are reviewed by the board
• Maintain regular monitoring of the organization’s financial performance and alert the board to any discrepancies
• Ensure that the organization maintains accurate and up-to-date financial books and records
• Submit government tax filings and remittances on a timely basis
• Ensure that payroll and other liabilities are settled promptly
• Serve as a co-signer of cheques with at least one other signing officer
• Manage excess funds and reserves appropriately and invest them
• Handle donations and grants in accordance with funder requirements
• Meet annually with the external auditor to identify and address financial control and record-keeping issues
• Recommend to the board the need for a review or renewal of auditing services
• Assist the Executive Director and board chair in developing and presenting the annual report
• Present or co-present the organization’s financial report and recommend appointment or reappointment of the auditor at the Annual General Meeting
• Keep the board informed of important financial events, trends, and issues relevant to the organization

Qualifications

• A commitment to the organization’s mission and strategic directions
• An understanding of, and experience with, good financial management and reporting practices
• A professional accounting designation may be required
• An appreciation of the type and level of financial information needed at a board level to support decision-making
• The ability to dedicate the time required to fulfill the responsibilities described