Duties of the Treasurer

							    Duties of the Treasurer
   Treasurers have a fiduciary duty
   A legal duty of trust
   Responsible for the protection and prudent
    management of financial and other assets of the
    organization.
    Fulfilling the duty of Trust
   Put in place procedures and practices
        Safe handling of cash
        Verified handling of cash
        Verified handling of assets
    Safe Handling of Cash
 Receipts
 Deposit slips


 Verified counts
            Verified handling of Assets

   Complete and accurate record keeping
            Includes crosschecking
                  Purchase orders
                  Invoices
                  Receipts
                  Cheque recording
   All serve to confirm transactions
             What is a transaction?

   Transfer of money
           Person to person
           Person to organization
           Organization to person
   Transfer of Goods and services
           As for money above
       Verifying Transactions
          Purchase orders
   Purchase Orders
           Confirm quantity,
            price & specs
   “I want to buy this many
    widgets @ this price”
            Verifying Transactions
                   Invoices
•   Invoices are bills
     –   Price, quantity, date,
         product description


•   Discrepancies from
    PO's
•   Reconciled with BO's
    or credit notes.
            Verifying Transactions
                   Receipts
•   Receipts confirm that money has been paid.
     –   Again product description, price, quantity, date
     –   Taxes paid should also be recorded on receipt.
           Verifying Transactions
                  cheques
•   Cheque is the final document in the verification
    process.
•   Cheque can be its own receipt or proof of payment
    when cleared through the bank
            Putting it all together
                The Journal
•   All receipts and disbursements (payments) are
    recorded in date order.
•   Cheque #'s are also recorded & voided cheques are
    noted. There can be no missing cheque #'s
•   Deposits are recorded with date of deposit, to
    match bank statement.
                                   AA Journal example
                                                                                                                                  Disbursements (Paid out)
                                                             Acc't 1.2
                                               Acc't 1.1     Meetings &     Acc't 1.3      Acc't 1.4      Acc't 1.5      Acc't 1.6      Acc't 1.7 PR
Date         Item/ Comment     Ref/Cheq. #     Courses       events         Regalia        Newsletter     National Dues District Cont & donations
                     Carried Fwd >>>                12740.01        3831.14         482.15         440.64         761.00         651.00        1030.46
    9-Jan-08 DEPOSIT
   10-Jan-08 SCHOOL DISTRICT #71        1457           84.80
   10-Jan-08 THE UPS STORE              1458                                                      175.40
   10-Jan-08 CURT HANSEN                1459          208.36
   10-Jan-08 RICK JEANS                 1460           48.75
   10-Jan-08 R. SAUNDERS                1461                          40.22
   21-Jan-08 DEPOSIT
   21-Jan-08 DEPOSIT
   19-Jan-08 Glacier Greens             1462          545.92         781.41




            Month total >>>                           887.83         821.63           0.00        175.40           0.00           0.00           0.00
                 Reconciliation

•   Have all your documents, receipts, invoices,
    deposit slips and check stubs
•   Everything entered in your journal accurately and
    in order
•   Check off items on the bank statement and allow
    for outstanding items(o/s cheques)
•   The balance in the journal matches bank statement.
         Congratulations !




• You are the keeper of the Golden
                Egg