The key purpose of a Treasurer is to administer the financial affairs of the co-op. Treasurers complete this role in conjunction with other directors and with input from co-op members so that the co-op’s financial health can be positively sustained.
A Treasurer’s key responsibilities include:
- ensuring the co-op has an appropriate bank account/s with up-to-date authorised signatories recorded at the bank for each account
- paying accounts as they fall due
- budgeting using Circuit Programme
- preparing financial reports through the Circuit Programme
- liaising with the Maintenance Director regularly to plan forthcoming maintenance expenditure
- overseeing the collection of rents (the role of Rents Officer is often held by another person) – the finance director has overall responsibility
- ensuring there is an established process to manage rent arrears
- investing agreed sums, if possible, to generate interest
- meeting compliance obligations of ACNC, CAV, ATO, VHR and CEHL.
