Improving the world through engineeringwww.imeche.orgImproving the world through engineering 1 VOLUNTEER CONFERENCE 2015 ROLE OF THE TREASURER

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 2 Role of the Treasurer This session helps you understand more about the role of Treasurer. The focus is on new Treasurers or those that would like to volunteer as a Regional Treasurer. The session covers the reporting side of the role as well as the responsibilities of a Treasurer

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 3 Basic Overview  The role will take up approximately 8 days spread over the year  A budget is allocated to your region for the year  This is paid to you in 3 separate installments  It is your job to make sure you have sufficient funds to cover any spend  You must never go overdrawn  You must submit information to HQ timely

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 4 TOOLS OF A TREASURER

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 5 Tools of a Treasurer  You will be given an IMechE address that clearly identifies you as an IMechE recognised contact, ensuring those people you contact are fully aware of your credentials.  Each Region has its own bank account that is looked after by an individual treasurer. As a result the IMechE has over 100 bank accounts  Each Treasurer has online access to this account allowing you to make online payments, print statements, check any income and expenditure  Each Treasurer is given a paying in book, a cheque book, a card reader (to make online payments,) and a credit card with a small limit  A cash sheet template to record all income and expenditure

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 6 RESPONSIBILITIES OF A TREASURER

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 7 Responsibilities  Keeping proper and sufficient accounts of the revenue and expenditure for your region (in the form of cash sheets)  Manage your area’s bank account (held centrally at Nat West) on which you will be a signatory, making sure you always have a credit balance  Provide Treasury report to the regional Secretary to present at Regional Committee meetings, or attend in person  Receiving and giving receipts for monies received by the Committee  Make payments on behalf of the Committee  Collating Budget information for your areas and Young Member Panels and submitting this to HQ  Apportioning the annual grant allowance and informing the Area’s or YMP’s of their allocation  Providing feedback to the Finance Department on monthly and annual spend

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 8 Making Payments It will be your responsibility to make payments on behalf of the Committee, an example of those costs are-  Costs associated with events e.g. catering costs, Committee room hire and refreshments, signage etc.  Committee expenses  We encourage payments to be made via Bankline as this is the most effective way of keeping an audit trail

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 9 CASH SHEETS

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 10 Cash Sheets  A cash sheet is one of the most important tools for a Treasurer  A cash sheet is used to record any income and expenditure made or received, including any cheques you have written but may not have been banked by the payee  Each transaction (cheques payment, grant income, bank transfer) has to be entered on a separate line to aid traceability  You can use your cash sheet to see if your bank account is running low, or if you have sufficient funds to cover a cheque that needs to be sent out  There is a standard cash sheet template used by all Treasurers and this is required monthly, or at the very least, quarterly by HQ.  HQ will not release any funding to a region if their cash sheets have not been submitted.  Cash sheets are collated at HQ monthly/quarterly ready for HQ review and the audit each February

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 11 Example Cash Sheets THE INSTITUTION OF MECHANICAL ENGINEERS REGIONAL ACCOUNTING SYSTEM CASH SHEET NAME:Made Up RegionCODE:10100MONTH: May YEAR: 2015 INCOMEEXPENDITURE DateDescriptionRef No./Running Transactio nHQGrantEventOtherBankGrants toPaymentsRoomTravel/EntertainPrinting/Postage/ClericalMeetingSundriesBank Chq No.BalanceAmount Expenditu reIncome InterestSubdiv'n for Subdivn Equip Hire Subsiste n & Catering Stationer yTelephoneAssistanceExpenses Charges 01/05/2015 Balance b/f /05/2015Payment to Sub Panel /05/2015Payment to Sub Panel /05/2015Expenses J Bloggs /05/2015Expenses M Mouse /05/2015Expenses J Depp /05/2015Expenses T Stephens /05/2015HQ Grant ` Balance c/f

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 12 More Information

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 13 More Information  This was a basic run down of what is expected from a Treasurer and some of the key responsibilities  If you would like some more information on the role of the Treasurer please come and take a ‘Regional Accounting System – Financial Guidelines’ booklet or the link to this can be found here- guidelines-and-rules/UK-Financial-Guidelines  We also have a guide on using Bankline to its full potential i.e. setting up templates for frequent payments, transferring funds between regional accounts if necessary and any key features

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 14 Toni Stephens Head Treasurer for the IMechE (Submit monthly/quarterly cash sheets, request grant payments) Richard Guy Government and Engagement Manager (Submit budget information, request additional funding) Karen Launder Finance Manager (Bankline super user, create/delete users within Bankline) Useful Contacts

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 15 Toni Stephens Treasurer