Board Treasurer

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The Board Treasurer shall receive all monies, and make bank deposits of the same name of Real Women Inc, shall pay bills by check approved and signed or countersigned by the President and authorized by the Board of Directors; shall submit a report when requested by the Board; and shall present a complete written report prepared by an independent CPA auditor at the end of each calendar year.

1. Financial management and/or oversight. A Treasurer may manage or oversee the management of the financial affairs of the organization, often including such basic tasks as selecting a bank, reconciling bank statements, and managing cash flow. In some organizations, the Treasurer may also be responsible for investing funds consistent with applicable laws. The Treasurer should be knowledgeable about who has access to the organization’s funds and any outstanding bills or debts owed. The Treasurer should create and maintain systems for ensuring the organization’s ongoing solvency and oversee the development of the organization’s financial policies. Helpful policies to consider include check signing authority, expense reimbursement, credit card usage, and petty cash policies, if applicable.

1.Budgets. The Treasurer may be responsible for preparing, or facilitating the preparation of an annual budget, as well as regularly monitoring and comparing the actual revenues and expenses incurred against such budget. The development of a budget that supports the organization’s goals and drives decision-making is an important part of an organization’s success in effectuating its mission. The budget should be reviewed and approved by the board, however, the Treasurer should be prepared to explain and justify the document.

2. Reports. The Treasurer should have thorough knowledge and understanding of the organization’s financial reports and important financial ratios. The Treasurer should keep the board apprised of key financial events, trends, and concerns, and her assessments of the organization’s fiscal health. The Treasurer is also generally responsible for completing, or ensuring the completion of, required financial reporting forms (including the IRS Form 990) in a timely manner and making these forms available for the board’s review.

3. Financial Liaison. A skilled Treasurer should be able to translate financial concepts and information for board members who do not have financial backgrounds or substantial financial experience. The Treasurer should spend time learning the particulars of the organization’s finances and the applicable laws, which may include laws related to earned income, the unrelated business income tax, appropriate expenditures, and prudent investments. The Treasurer can be most effective to the board when she is facilitating and encouraging the board’s strategic thinking about the short and long term financial vitality of the organization in relation to its advancement of the organization’s mission.