A treasurer is the person responsible for handling money within a club. They are the face of the club’s finances. They are generally not the person who makes the financial decisions, that’s the job of the committee. However, they are the person who makes the relevant financial information available and understood, so that the Committee (Treasurer included) can vote on the decision accordingly.  Day-to-day, the treasurer ensures that money is collected or paid out in a timely manner.

Qualities, Characteristics and Duties Of A Good Club Treasurer

  • be well informed about the club, its activities and finances;
  • understand the principles of accountancy and bookkeeping;
  • prepare clear and realistic budgets and cash forecasts;
  • maintain the account books;
  • prepare regular (e.g. quarterly) accruals based management accounts, for comparison with the budget;
  • monitor and manage the cash flow and the amount of cash at the bank, to maximise interest earned and to ensure that funds are available to pay bills;
  • supervise credit control, ensuring prompt payment by members and others;
  • pay bills when due;
  • bank all payments promptly;
  • advise the committee on the financial situation and financial planning;
  • prepare and monitor capital expenditure plans;
  • take responsibility for the preparation and audit of annual accounts;
  • lead on seeking appropriate professional financial advice when needed
  • attend to VAT returns, other tax matters and PAYE;  (Sport England Club Matters includes excellent VAT guidance. You may need to register on the website to access the download. The HMRC website also contains lots of useful advice. VAT Notice 700 is a good starting point)