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Board Treasurer – Sample Position Description

Authority for electing the Board Treasurer

The bylaws of [Name of Ministry] stipulate that the board of directors shall annually elect a Treasurer. (Note: The bylaws may provide for an election cycle other than an annual election.)

Qualifications

The Treasurer should have the ability to read, understand, and explain financial statements.

Term

The Treasurer is elected by the board for a one-year term in accordance with the bylaws.

Requirements

  • Commitment to the work of the ministry;
  • Knowledge and skills in one or more areas of board governance: policy, finance, programs, and personnel;
  • Regular attendance at periodic board meetings;
  • Prepare for, and participate in, the discussions and the deliberations of the board, especially on organizational financial issues;
  • Foster a positive working relationship with other board members and the organization’s staff; and
  • Be aware of, and abstain from, any real or perceived conflicts of interest

Major Duties

  • Explain the periodic financial statements for other board members (in some instances, the ministry’s CFO may provide the explanation of the financial statements);
  • Signing authority for certain financial matters, as delegated by the board;
  • Ensure audited, reviewed, or compiled financial statements are presented to the board on an annual basis;
  • Ensure that the board or its designated committee meets at least annually with the independent CPA firm preparing the financial statements and that the annual appointment of the independent CPA firm is formally approved by the board;
  • Work with the chief executive and the chief financial officer to ensure that appropriate financial reports are made available to the board on a timely basis; and
  • Ensure board development and review of the board’s financial policies

(Note: The board treasurer position description may vary significantly based on a number of factors, including the size and nature of the ministry. For example, a board treasurer of a start-up nonprofit organization will often have more “hands-on” responsibilities in day-to-day financial matters than for a larger and more established nonprofit that has matured in terms of staffing. Additionally, the board treasurer will usually have more responsibilities if the board does not yet have an audit committee in place.)


This text is provided with the understanding that ECFA is not rendering legal, accounting, or other professional advice or service. Professional advice on specific issues should be sought from an accountant, lawyer, or other professional.

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