Board Development

Board Treasurer Job Description

Purpose:

To help ensure the fiscal integrity of the organization by providing oversight of its financial activities and ensuring the accuracy of all financial records.

Duties and Responsibilities (at a minimum):

Organization without staff	Organization with staff (that can serve in this way)
Serve as chair of the board finance committee	Serve as chair of the board finance committee
Follow the laws and nonprofit accounting rules	Follow the laws and nonprofit accounting rules
Review and submit full and accurate financial information to the rest of the board in an appropriate format	Work with staff to review and submit full and accurate financial information to the rest of the board in an appropriate format
As budget and investors require, engage in an RFP process to select an auditor	Ensure staff engage in an RFP process to present to the finance committee to select an auditor
Ensure that the board’s financial policies are being followed	Ensure that the board’s financial policies are being followed
Review the organization’s annual audit and, in conjunction with the audit committee, answer any questions other board members may have about it	Review the organization’s annual audit and, in conjunction with the audit committee, answer any questions other board members may have about it
Provide regular reports to the board on the financial health of the organization	Ensure that the board’s financial policies are being followed
Work through the finance committee to prepare the organization’s annual budget	Assist the CEO/executive director and CFO in preparing the organization’s annual budget

Financial control highlights for the whole board

• Follow the laws
  • Ensure payroll taxes are paid
  • Ensure compliance with IRS and state filing requirements
• Oversee the fiscal health of the organization
  • Maintain liquidity (for current cash needs)
  • Strive for solvency (long-term needs)
  • Protect and provide resources (skills, dollars)
• Determine and review performance measures
  • Ensure a proper documentation system exists to report revenues and expenses in a meaningful way for the whole board
• Participate in budget creation
  • Don’t let fundraising make up the difference in your budget without strategic thinking first
• Approve and monitor the budget
  • Provide proper approval of the original budget
  • Ensure timely submissions and approvals of budget revisions
  • Set and follow revenue and expense policies
  • Follow a system to detect errors, correct errors, and ensure prevention of misappropriation of assets
• Create and maintain an ACTIVE finance committee
  • Select committee members who understand nonprofit accounting and finance
  • Ensure that a finance committee is meeting
  • Entrust the committee to review the detailed information
  • Ask helpful questions
• Ensure annual audits or an external qualified “look” at the finances
• Approve investment policies

Role of the finance committee

• Meets consistently throughout the year
• Membership: Treasurer, 1-2 board members, 1-2 volunteers with high trust and accountability that understand nonprofit accounting, and appropriate staff
• Entrust the committee to look at everything
• Provide training to the full board on understanding nonprofit financial statements
• Report regularly to the whole board:
  • Provide one page with pictures and simple words highlighting 3-4 benchmarks for success and staying on track
  • Provide financial statements that are clear and concise without minutia