Please note that functions which are the responsibility of the Treasurer can be delegated, and some could be contracted out (e.g. bookkeeping). Though the Treasurer’s role is restricted to three years, these delegated routine tasks could be maintained by the same person (Administrator or Bookkeeper) over a longer period. Much of the Treasurer’s responsibility depends on liaison with others.
The Treasurer is an executive member of the WATCH Committee and an ex-officio member of any fundraising task force or committee.
To find out more then click here to email Mark Bennet.
The Treasurer is responsible for:
Maintaining the financial records, and ensuing that appropriate financial procedures and controls are in place, including the maintenance of suitable bank accounts
Preparing a budget, planning finance, and advising the committee and its task forces on the financial position and its consequences for decision-making
Providing the committee with information and explanations to enable it to discharge its responsibilities for stewardship of WATCH’s resources
Preparing the annual accounts, organising their examination or audit, securing their adoption by the committee and presenting these to the AGM for approval
Ensuring that WATCH complies with constitutional and legal requirements, including such matters as insurance, employment (if applicable) and taxation.
Contributing to fundraising.
Tasks
Annually
Prepare an annual budget for approval by the Committee before the start of the next financial year, including budgets for the WATCH task forces
Ensure that appropriate insurances are obtained Ensure that annual fees for internet presence are paid
Prepare annual accounts for audit/examination, adoption by the committee and approval by the AGM
Present the accounts to the Committee and the AGM
Ensure that the AGM approves an appropriate auditor/examiner Ensure that the committee reviews and approves its financial policies
For each Committee meeting
Prepare a report for distribution with the agenda on the current financial position (including comparison with budget) and noting any significant items
Generally
Act as one of the cheque signatories
Ensure that the accounting system is maintained, that receipts are banked and payments are made as they fall due
Ensure that full and regular bank reconciliations are completed
Ensure that records of subscriptions are sufficient to identify the members of WATCH at any time, and liaise with the Membership Secretary (our Administrator) on the Membership List
Ensure compliance with financial aspects of charity status, prepare accounts in form suitable for submitting to Charities Commission, advise on opportunities arising out of charity status as they may arise.
Ensure that the financial records are maintained in good order
Ensure that any substantial funds earn a good level of interest, and are appropriately available for use
Advise the Committee on the tax status of payments to individuals, and ensure that these are made in compliance with relevant laws and regulations.
Advise the Committee on fundraising opportunities.
To find out more then click here to email Mark Bennet.
