Treasurers manage the branch finances and track the monies in and out of the branch.
Ideally, they should have some experience with accounting to ensure the financial health of the branch. The treasurer plays an important role in predicting income and expenditure, and budgeting for any major purchases – and for their upkeep and eventual replacement.
They are required to update the committee at meeting on the branches current financial situation and prepare a report for the members at the AGM. Also, ensure that the correct insurance covers are in place for any branch equipment and facilities.
The treasurer usually acts as the membership secretary because of the handling of members subscriptions, though in branches with a large membership this can be split out into another committee officer role.
The branch will require a bank account for branch funds and should be set up in the branches name with multiple signatories, this will prevent one individual having complete control over the account.
Banking cards should be avoided as this permits money to be withdrawn with little control.
