Treasurer Role/Duties

Position/job title: Treasurer

General Duties of Assigned Portfolio

Goal of Portfolio

Safekeeping of Argonaut Rowing Club (ARC) funds and the management of financial transactions and operations of ARC. The Treasurer is an officer of the corporation and the duties associated with that role are set out in the Club By-law.

Duties and Areas of Responsibilities

Primary responsibilities of the Treasurer include, but are not limited to the following:

1. Ensure adequate cash reserves to meet ongoing ARC cash requirements from operations
2. Maintain banking and credit authorizations

3. Supervise Bookkeeper’s role as described in bookkeeper’s Duties and Responsibilities (2011) including to:

1. Pre-approve/review accounts receivables and accounts payable before/after processing
2. Provide adequate training in and orientation to ARC’s financial system (QuickBooks – QB) and procedures and the online membership registration system
3. Review of bank statements before reconciliation for anomalies, and review reconciliation
4. Establish the Bookkeeper’s work schedule

4. Report monthly to the ARC Board of Directors on ARC’s financial performance, including a statement for review and approval by the Board at each regular monthly meeting
5. Ensure that there are sufficient funds to meet the obligations outlined in the Business Plan, 2020-2024 including paying interest to ARC Next Investors and repaying bonds and bank loan when appropriate.
6. Coordinate with the Membership Director to set annual fees structure; provide updates on paid v. unpaid members on request; provide guidance on collections process
7. In consultation with the full Board, develop annual operational budget for review and consideration by the Board at the January Planning Meeting and approval at the February Board meeting
8. Liaise with the Club’s accounting firm and arrange for the audit of the Club’s annual financial statements and presentation of same to membership at the Annual Meeting
9. Recruit an Assistant Treasurer to assume some of the duties of Treasurer and to serve as an “apprentice Treasurer” in preparation for assuming the role when the Treasurer’s term expires.
10. Ensure that the Board President is kept informed of all major activities of the portfolio and any scheduled sub-committee meetings, to support the President’s responsibility to monitor overall Board governance.
11. Coordinate the on time signing and delivery of cheques for any accounts payable or staff pay cheques; ensure staff are registered for direct deposit, as applicable.

Sub-committees and Reporting Positions

• Finance Committee – (member volunteer assistance)

Evaluation

Treasurer’s performance is evaluated annually through reporting to the membership at the Annual General Meeting.

Review and Approval Date

The Board reviews the Board Member Job Descriptions annually to ensure appropriate assignment of duties and responsibilities.

Date: ________________________________

Treasurer’s Signature: ________________________________

Last updated: December 2021