The treasurer is responsible for managing the budget. In this role, the treasurer also typically chairs the finance committee. The person filling this role should have experience in financial accounting for nonprofits. The executive director works closely with the treasurer to ensure the financial reports are continually updated, and they’re accessible by the executive director and board members in a timely manner. The treasurer plays a significant role in the annual auditing process and should be primed and ready to answer board member questions about the audit.
- The treasurer approves major expenditures
- Signs large checks and some smaller ones. Two signatures are required on checks over a certain amount with one being the treasurer.
- Prepare, generate and present financial reports at board meetings
- Prepare treasurer’s report for board members.
- Keeping the board informed on grant, proposal, investments and plans regarding unexpected funds and/or cash flow shortages.
- Reducing unnecessary expenses and making the most of your fundraising efforts with real-time, actionable financial data. Management accounting helps directors of nonprofits make data-driven decisions.
- Knowing how their organization is performing and what they can do better in order to take it to the next level.
