Earlier in the year I notified the Committee of my intention to step down as Treasurer after six years in the role. At the recent Special General Meeting to elect a new Committee, there were no nominations for the Treasurer role. With the Financial Year end looming (31 March) I agreed to stay on the Committee until the AGM as Acting Treasurer and prepare the Annual Financial Statements to 31 March 2021 and the Operating Budget for the 2021/22 Financial Year.
This means that the Association will be looking to fill the Treasurer role at the 2021 AGM, from within the ranks of its Associate and Professional members. The position is an important one. The Treasurer is responsible for the management of the Association’s financial affairs and maintaining the internal controls relating to payments and receipts.
Management of the Association’s financial records is not onerous. There are very few transactions each year so, the records are very simple to maintain. Most of the transactions occur in March and April. This is the period when the majority of the Association’s income is received following the issue of the annual subscription invoices. The other main sources of income generated during the financial year are from PD day and Conference attendance fees. The Association makes very few payments. In the current financial year less than twenty payments have been made.
Because the number of transactions is small a simple excel spreadsheet is used to record all receipts and payments. The simplicity of the financial transactions means that the Treasurer does not need to be a qualified accountant. In fact, if you maintain your own business financial records, and can use excel, then you have the necessary skills needed to maintain the Association’s financial records.
The time commitment to complete the Treasurer’s duties including involvement in and advice on other Committee matters each month is no more than eight hours. Activity each month involve preparing a report for the Committee which contains a Year-to-Date Balance Sheet, a Year-to-Date Income and Expenditure Account and a list of payments made during the month. A few more hours are needed in April, when the Annual Financial Statements and the operating budget for the following year are prepared, using a template and figures taken straight from the spreadsheet. The records and Financial Statements are provided to the Association’s external auditor for review. The Treasurer is responsible for presenting the audited financial statements to the members at the Annual General Meeting.
So are you the Association’s next Treasurer? If you’re an Associate or Professional member and you know your way around an excel spreadsheet, and have a couple of hours each month to contribute to the Association, I encourage you to think about putting your name forward for the Treasurer role. I have found it a very rewarding, and enjoyable experience. It’s a great way to contribute to the ongoing development and success of the Association. The job description for the Treasurer role can be found on the About page of the website - http://www.nzanlp.org.nz/about