INC Treasurer Responsibilites

 

INC TREASURER – RESPONSIBILITIES

According to By-Laws and Standing Rules

  • SKILLS:
    Access to appropriate software and the ability to produce income statements (income, expenses, balances), track expenses by category, and make bank deposits.
    Currently INC uses Microsoft Excel spreadsheets.
  • PROCEDURAL:
    When new, receive mail box key and account passwords with all financial records no later than the end of the month in which the officer transition occurs.
    Only disburse INC checks that contain both the signature of both the Treasurer and the President.
    May deposit funds into INC bank account(s)
    If Treasurer does not retrieve mail, bills and financial matters, the person who did shall deliver them to the Treasurer in a timely manner.
  • RECORDING:
    Keep and preserve accurate and complete records
    Keep copies of all checks and check register(s)
    If the Treasurer does not deposit checks directly copies of checks and the check register will be presented to the Treasurer
    Maintain and share records of transactions with the Budget Committee
    Pass on records of prior years and keep them intact and turn such records over within ten days after the end of the month a New Treasurer assumes office
    Shred paper/electronic records/receipts not retained (Decisions about what is not to be retained are made in conjunction with the President and Budget Committee Chair.)
  • REPORTING:
    Report all income, expenses, balances and bank transfers at monthly INC meetings
    Present a written financial report quarterly to the Delegation
    Provide access to detailed financial transaction information when duly requested
    Manage reports in a software format that can be passed on to successors
    Record all expenses under proper categories as mutually established with the Budget Committee
    Maintain and share records of transactions with the Budget Committee
    With the President shares responsibility for preparing year-end income statements and passing this information on to newly elected President, Treasurer and Budget Committee Chair
    With the President, accomplish IRS and City reports in a timely manner
  • DISBURSEMENTS:
    Disburse funds at the direction of the Delegation, except that of the Board of Directors may authorize the reimbursement of monies spent by INC committees in the accomplishment of their approved tasks
    Receive approved receipts requesting reimbursement:
    Approvals of disbursements from $0-$500 from the Committee Chair or Chair Designated Person
    Approvals of disbursements from $501+ require approval of the Committee Chair and INC Chair
    Writes checks
    Reimburses expenses in a timely manner (within ten days); if it will take longer, Treasurer will explain why and when the money will be disbursed
  • COMMITTEE:
    Ex officio member of Budget Committee
    With the Budget Committee establishes mutually beneficial categories of expenses
    Shares records of transactions with the Budget Committee
    May be present to ask questions at a meeting of the Audit Committee, but should not serve on it
  • EXECUTIVE:
    As a member of the EC Board, and with the EC Board (Officers) give advance approval to a Committee/Committee Chair to sign contracts or make commitments on behalf of INC. (Or alternatively, with the approval of the entire Board of Directors.)

 

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