Milton Keynes Local Meeting: Remit for Role of Treasurer

MILTON KEYNES LOCAL MEETING: REMIT FOR ROLE OF TREASURER

Role Summary

The treasurer's prime responsibilities are to care and account for the financial resources of MK Local Meeting and help MK Friends understand the finances of the Meeting by explaining them clearly and comprehensibly so that sound decision making can take place.

The Treasurer ensures the proper management, collection and distribution of the Meeting’s money and advises on the financial implications of decisions of the Meeting. The Treasurerreports regularly to the Meeting and is responsible for presenting a draft budget for approval and for the preparation and presentation of the annual accounts at the year-end. The Treasurer is an ex officio member of the Finance and Property Committee

Principal tasks and responsibilities

To manage the Meeting's finances through sound budgeting; checking bank statements and cashflow, banking, invoicing, payment of bills; maintaining sound records of financial transactions and keeping primary documents as required;
To advise F& P and PM on financial decision-making and on any financial implications of matters for their consideration including hirings policy; to be familiar with the Society's stance on responsible investments;
In consultation with the Finance and Property Committee to prepare a draft budget for approval by PM; to present annual accounts to PM and for formal audit by the examiner;
In consultation with the line manager, to ensure that the Warden's salary is regularly reviewed; to handle any requirements of HMRC required payroll matters and reporting systems;
To ensure that the financial records kept by the Warden are fit for purpose: to liaise with the Lettings Lead as appropriate;
To work with the Collector to ensure that members of the Meeting are made aware of the work of the wider Society and its financial needs and that giving is tax-efficient;
To work with Overseers as necessary in matters relating to personal financial arrangementssuch as bursary assistance;
To be aware of sources of information about legal requirements pertaining to the role, including charity law; to liaise with the Area Meeting Treasurer as appropriate;
To provide the Area Meeting Treasurer with the necessary information for the preparation of the Area Meeting's consolidated accounts; to be willing in principle to attend Area Meeting Treasurer's meetings .
To advise the Convenor of AM Trustees and/or AM Treasurer about any exceptional items of income, such as bequests, or planned expenditure for repairs and maintenance above the limit for local meeting responsibility (currently in 2014, £1,000).

References in Quaker Faith and Practice

Particularly important references in Quaker Faith and Practice are listed overleaf.

Guidance / Reference / Notes
Overview of role: duties and responsibilities / QF&P 13.43,44 / Appointment, length of service, support
Stewardship / QF&P 14.18, 19 / Guiding principles
Reasons for giving, priorities and needs of the wider Society / QF&P 14.02, 03-07
Accounts / QF&P 14.20-23 / Principles of accounting, requirements, further sources of information, legislative requirements
Ethical investment, liabilities / QF&P14.24; 25,26 / Parameters for workload and personal responsibility and liability

Additional detailed information and guidance is available as follows:

the Treasurer's section of the Friends House website
the Treasurer's Handbook
Woodbrooke holds courses and training for treasurers
the Area Meeting Treasurer

Milton Keynes Local Meeting Treasurer's remit January 2015