The role of the Treasure is to manage the finances of the association, in accordance with our Articles of Incorporation (Part 6 – Financial Matters).
The specific duties normally carried out by the Treasurer include:
- Management of funds
- Maintenance of financial records
- Preparation of the Annual Financial Statement
- Lodging financial reports with the relevant government agency (in conjunction with the Secretary)
Per our Articles of Incorporation (Part 5, Division 2):
Article 45. General Duties
(1) As soon as practicable after being elected or appointed to the Committee, each committee member must become familiar with these Rules and the Act.
(2) The Committee is collectively responsible for ensuring that the Association complies with the Act and that individual members of the Committee comply with these Rules.
(3) Committee members must exercise their powers and discharge their duties with reasonable care and diligence.
(4) Committee members must exercise their powers and discharge their duties—
(a) in good faith in the best interests of the Association; and
(b) for a proper purpose.
(5) Committee members and former committee members must not make improper use of—
(a) their position; or
(b) information acquired by virtue of holding their position—
so as to gain an advantage for themselves or any other person or to cause detriment to the Association.
Note: See also Division 3 of Part 6 of the Act which sets out the general duties of the office holders of an incorporated association.
(6) In addition to any duties imposed by these Rules, a committee member must perform any other duties imposed from time to time by resolution at a general meeting.
Article 48. Treasurer
(1) The Treasurer must—
(a) receive all moneys paid to or received by the Association and issue receipts for those moneys in the name of the Association; and
(b) ensure that all moneys received are paid into the account of the Association within 5 working days after receipt; and
(c) make any payments authorised by the Committee or by a general meeting of the Association from the Association’s funds; and
(d) ensure cheques are signed by at least 2 committee members.
(2) The Treasurer must—
(a) ensure that the financial records of the Association are kept in accordance with the Act; and
(b) coordinate the preparation of the financial statements of the Association and their certification by the Committee prior to their submission to the annual general meeting of the Association.
(3) The Treasurer must ensure that at least one other committee member has access to the accounts and financial records of the Association.
Term of Office:
Per our Articles of Incorporation (Part 5, Division 3):
Article 55. Term of office
(1) Subject to subrule (3) and rule 56, a committee member holds office until the positions of the Committee are declared vacant at the next annual general meeting.
(2) A committee member may be re-elected.
Posted in: Committee of Management