Role of the Club Treasurer

Safe-keeping the funds of the Club 

Role of the Club Treasurer

The Club Treasurer has responsibility for the safe-keeping of the funds of the Club. He/she is responsible for recording all income and expenditure and for reporting on the financial position of the Club to the Club Executive Committee on an on-going basis. It is important to note that the Treasurer does not have to be an accountant to perform this role. However, he/she must have the ability to record all financial transactions, control expenditure in the Club, plan and assist in fundraising and provide regular reports to the Club Executive.

The Treasurer must not commit the Club to any expenditure for which prior approval has not been given and should also be in a position to give ample warning to the Club should funds be dwindling.

The main duties of the Treasurer can be summarised as follows:

• Management of Club accounts
• Keeping records
• Preparation of financial statements
• Preparing a financial budget for the Club
• Fundraising in the Club

In managing the Club accounts, the Treasurer should receive and pay out money on behalf of the Club, lodge all monies to the Club accounts and collect all fees due to the Club. Every Club must open a bank account. Retain as much money as possible on deposit, but keep the Club current account in credit. All cheques drawn must be signed by the Treasurer and co-signed by the Secretary or Chair. 

In order to ensure accountability, all financial transactions in the Club should only take place by electronic means, where possible. The bank statements should be sent to a committee member other than the signatories on the Club cheque book account. This helps to ensure proper accountability.

Sample Income and Expenditure Account

 Schedules Summary             Previous Year     Current Year  
$€£ $€£
Income for 20XX
Expenditure for 20XX
Sources of Income
1. Cash Receipts 
2. Monthly Memberships (Credit card)
3. Merchandise Income 
4. Grants received
5. Fundraising activities
6. Contra Receipts
7. Donations
Sources of Expenditure:
1. Insurance and Public Liability
2. Affiliations and Registrations
3. Team Expenses
4. Administration Expenses
5. Repair & Maintenance 
6. Medical Expenses
7. Prize Expenses
8. Coaching & Games Development
9. Contra Expenses
Excess of Income over Expenditure:      xxxx