Board Treasurer

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Accountability
The Board Treasurer is an executive and voting member of the board of directors of the organization
and is appointed in a manner consistent with the bylaws. The Board Treasurer will offer guidance to the Board in ensuring good fiscal planning, decision-making, and oversight at a governance level. The Board Treasurer is accountable to the Board for the fulfillment of the duties and responsibilities outlined below.

Authority
The treasurer, like other board members, has no authority to direct staff or take independent action
on matters outside of the duties outlined unless given such authority by the Board.

Time Commitment
Five to ten hours per month, including but not limited to attending board meetings, meetings with the Executive Committee, and committee meetings.

Term of Office
Three years with the possibility of renewal for a second term.

Roles and Responsibilities

• Oversee the development of high-level financial policies and their review by the board.
• Assist in the preparation of the annual budget and its presentation to the board for review.
• Ensure that the appropriate monthly or quarterly financial statements are reviewed by the board.
• Ensure that the board regularly monitors the organization’s financial performance and alerts it to any important discrepancies between planned and actual figures.
• Ensure that the organization maintains the appropriate financial books and records and that these are accurate and up-to-date.
• Ensure that government tax filings and remittances are submitted on a timely basis.
• Ensure that payroll and other liabilities are settled in a timely manner.
• Serve as a co-signer of cheques with at least one another signing officer.
• Ensure that excess funds and reserves are properly held and invested.
• Verify that donations are handled appropriately and that grants and service delivery contracts are accounted for in accordance with the requirements of funders.
• Meet with the external auditor annually, or more often if needed, to identify any financial control and record-keeping problems or deficiencies and oversee action by the Board to address them.
• Recommend to the board the need for a review or renewal of the auditing services provided.
• Assists the Board Chair with the development and presentation of the annual report.
• Ensures that the board is informed of important financial events, trends, and issues relevant to the organization.
• Present or co-present the organization’s financial report at the Annual Meeting of the Membership.

Committee Membership
The Board Treasurer is automatically a member of the Executive Committee and will chair the Finance/Fund Development Committee.

Qualifications

• A high school diploma or equivalent.
• Experience with QuickBooks.
• 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 kind and level of financial information needed at a board level to support decision-making.
• An ability to commit the time required to fulfill the responsibilities described.