What it takes to be an effective TREASURER..

CLUB SECRETARY

To be an effective Secretary, you'll need to be:

Issuing receipts and promptly depositing all monies received

Making all payments and keeping accurate, up to date records of income and expenditure

Ensuring that adequate accounts and records exist regarding the club's financial transactions

Being the signatory on club cheques, with at least one other

Preparing regular bank account reconciliations

Being responsible for the club's petty cash

Invoicing members for items/services provided, e.g. equipment, uniforms

Being fully informed about the financial position of the club at all time

Preparing budgets for the forthcoming year describing potential sources of income and expenditure

Presenting regular breakdowns of income and expenditure to the management committee

Preparing and presenting financial statements to committee meetings and for the annual report

Investing surplus funds

Managing club investment programs

Negotiating with banks for loans, overdraft facilities, and mortgages

Handling tax returns if applicable

Preparing annual financial accounts for auditing, and providing the auditor with information as required

Ensuring annual returns and statement of accounts are filed with the Commission for Corporate Affairs

Ensuring GST compliance

Ensuring invoices are valid tax invoices and that suppliers issue valid invoices

You’ve been elected Treasurer – now what?

You’ve been elected Treasurer – now what?

Use this checklist of all the things you need to do as soon as you get the job:

  • Check details of all bank accounts and all signatories

  • Swap signatories straight away. Get the forms from the bank and take them to the annual meeting

  • Check details of credit card or spending authorizations and organize for the return of outstanding chequebooks or cards

  • Check who has the financial files and get all documents and budget information, including special events budgets and details of purchases

  • Make sure you have a master copy of your financial procedures manual

  • Organize for a detailed briefing from the outgoing treasurer detailing any spending commitments or incomings not included in budget papers

  • Prepare a timeline of upcoming payments and dates when bills (insurance/rent) are due

  • Once you have completed your first budget statement, see if you can check with the outgoing treasurer that nothing is missing

Other available information:

If you would like any of our team to contact you, please fill out the below email.

WHAT IS CLUB FACTORY?

“Our vision is to enable Community Clubs across Australia to grow their presence and engagement and run professional, well-organised clubs that deliver a high-quality product. Through the implementation of the Club Factory program, Clubs will see growth in participation, experience greater community impact, attract broader sponsorship opportunities and generate more funds which ultimately enables the Clubs to grow.”

Luke Holmes, Cool Hand Factory Co-Founder

CLUB TREASURER

To be an effective Treasurer, you'll need to:

Issue receipts and promptly deposit all monies received

Make all payments and keep accurate, up-to-date records of income and expenditure

Ensure that adequate accounts and records exist regarding the club's financial transactions

Be the signatory on club cheques, with at least one other person

Prepare regular bank account reconciliations

Be responsible for the club's petty cash

Invoice members for items/services provided, e.g. equipment, uniforms

Be fully informed about the financial position of the club at all time

Prepare budgets for the forthcoming year describing potential sources of income and expenditure

Presenting regular breakdowns of income and expenditure to the management committee

Preparing and presenting financial statements to committee meetings and for the annual report

Invest surplus funds

Manage club investment programs

Negotiate with banks for loans, overdraft facilities, and mortgages

Handle tax returns if applicable

Prepare annual financial accounts for auditing, and providing the auditor with information as required

Ensure annual returns and statement of accounts are filed with the Commission for Corporate Affairs

Ensure GST compliance

Ensure invoices are valid tax invoices and that suppliers issue valid invoices

You’ve been elected Treasurer – now what?

Check details of all bank accounts and all signatories

Swap signatories straight away. Get the forms from the bank and take them to the annual meeting

Check details of credit card or spending authorisations and organise for the return of outstanding chequebooks or cards

Check who has the financial files and get all documents and budget information, including special events budgets and details of purchases

Make sure you have a master copy of your financial procedures manual

Organise for a detailed briefing from the outgoing treasurer detailing any spending commitments or incomings not included in budget papers

Prepare a timeline of upcoming payments and dates when bills (insurance/rent) are due

Once you have completed your first budget statement, see if you can check with the outgoing treasurer that nothing is missing

Other available information:

If you would like any of our team to contact you, please fill out the below email.

This is a Cool Hand Factory Pty Ltd product www.coolhandfactory.com