Treasurer Training Catherine Ashton

Why did you want to be a Treasurer? Introduce yourself to your neighbour Ask them why they wanted to run for the position of Treasurer.

Types of Accounts Membership Account- Santander, Cheque Operator Account Grant/Union Account- 4 digit Account number Treasurers It is the treasurers’ responsibility to maintain good accounts. All society expenditure must be accounted for in a proper account book and written in pen. It is the Societies duty to ensure that money is being spent appropriately.

Account Books DateDescriptionPaymentReceipt Number Cheque Number CreditedDebitedBalance Date the transaction was made. What was the payment for. What form was the payment in (Cash, Cheque or Direct Debit). Get in the habit of numbering receipts you have for your society. Note the cheque number. Amount of money that came into the society. Amount of money that left the society account. How much money is remaining following this transaction. e.g 14/03/14Cheque for the payment of Society Social to Laser Quest. Cheque £400£800

Account Book: Example

Top Tips for Account Books Show cheque numbers for transactions Check monthly statements with the account book and report any irregularities to the Societies Administrator. Keep all receipts Strike through any mistakes Start on a new page within the book Use a hard back Accounting Book Use colour- incoming credits in black, outgoing debits in red. Do's Use only a computer, the account book must be completed. Use pencil Use Tippex or cover over with paper Tear out pages Loose pages Show information from other accounts in the same book. Dont's

Grant Account You can apply for a grant account to buy things that will stay with your society. Allocated on a yearly basis Applications are done via a form which will ask for:  How much money you are applying  The reasons for the amount. The money can not be used for:  Socials  Stash.  When claiming for money from the grant account you need to keep the receipt and complete a claim form.

Benefits of new Banking System Exceptional Society Treasurer Good Society Treasurer Poor Society Treasurer Santander are now charging society’s that have been set up in the last 2 years £7.50 a month Reduces time taken to put a new chair and treasurer on to the account – Signatory change form currently takes 2 weeks minimum Makes it easier for societies to pay into their bank accounts – Santander are not excepting money over the counter anymore If you are owed money it will go directly into your bank account within 3-5 days, this is done by a claim form with receipts, the claim form needs to be signed by the treasurer Direct invoice payments organised Direct payment of external instructors Monthly bank statements The ability to request to see your balance at any point including a breakdown of expenditure.

Society Treasurer Maintains a methodical and up-to-date account book. Suggests opportunities to increase club finances. Seeks opportunities to gain external sponsorship for events the society is running. Ensures all transactions are value for money and benefits the greatest possible number of members. Operates transparently and has a meticulous attention to detail. Formulates a financial forecast for society expenditure. Monitors expenditure closely to ensure a steady flow of funds throughout the year. Justifies every outgoing cost and is transparent about society finances with members. Manages the accounts for both grant and club accounts. Keeps up to date paying-in books, cheque books and issue receipts. Provides financial statements to the committee. Co-ordinates the signing of cheques by themself and the Society Chair. Fails to record transactions made by the society. Fails to keep receipts. Fails to communicate with the rest of the committee regarding the financial status of the society account. Spends society money recklessly. Is not transparent in how the society funds are spent. Exceptional Society Treasurer Good Society Treasurer Poor Society Treasurer

Any Question s? Exceptional Society Treasurer Good Society Treasurer Poor Society Treasurer