Trustee Treasurer

Trustee Treasurer Role Description Role Overview

The Treasurer for The Maypole Project is responsible for maintaining a comprehensive overview of the organisation's financial affairs. This includes active involvement in the budgeting process and monitoring progress against budget objectives. The Treasurer ensures the financial viability and sustainability of the charity, maintains accurate financial records, and guarantees adherence to established financial procedures. The average time commitment for this role is one day per month, but there may be occasions when additional time commitment is required.

Key Duties of the Treasurer

• Participate in the planning and development of the annual operating budget.
• Oversee, approve, and present budgets, management accounts, and financial statements to the Board of Trustees.
• Review the organisation's financial resources to ensure that current and future needs are met.
• Identify financial risks and provide advice on appropriate remedial actions.
• Ensure a robust reserves policy is in place and subject to regular review.
• Ensure the charity maintains and follows a suitable investment policy (if applicable).
• Guarantee that accounts are prepared and disclosed in accordance with funder requirements and relevant statutory bodies, such as the Charity Commission and Companies House.
• Supervise the preparation of annual accounts and ensure all necessary information is provided to the accountant or auditor.
• Oversee the scrutiny of accounts through independent examination or audit and ensure that recommendations are implemented.
• Keep the Board informed of its financial responsibilities and duties.

Shared Trustee Responsibilities

• Act in the best interests of the charity and its beneficiaries.
• Protect and secure the charity's assets.
• Exercise reasonable care and skill in their duties.

General Trustee Responsibilities

• Ensure compliance with the organisation's governing document, charity law, and company law.
• Maintain adherence to all relevant legislation and regulations.
• Ensure the charity pursues its objectives as outlined in its governing document.
• Actively contribute to the Board's strategic direction, policy setting, and performance evaluation against agreed targets.
• Safeguard the organisation's reputation and uphold its values.
• Ensure the effective and efficient administration of the charity.
• Maintain the financial stability of the organisation.
• Contribute to the charity's income generation and fundraising strategies.
• Protect and manage the charity's property.

Contribution of Individual Trustees

• Scrutinising papers and reports presented to the Board.
• Leading discussions on key topics.
• Focusing on critical issues that affect the charity.
• Providing guidance on new initiatives.
• Offering expert advice in their area of specialisation.

Person Specification for Treasurer

• A commitment to our vision and purpose.
• Hold a suitable accounting qualification.
• Financially literate with the ability to interpret budgets, balance sheets and cash flow statements.
• Experience in financial management, particularly within charities or the public sector.
• Understanding SORP (the Statement of Recommended Practice for charities) and how annual accounts must be presented, and knowing how to handle restricted and unrestricted income. Restricted funds must be held and reported separately.
• Familiarity with financial controls and risk management practices.
• Confidence in presenting complex financial information to trustees who may not have a financial background.
• Strong understanding of the organisation's purpose and commitment to its aims and objectives.
• Willingness to dedicate the necessary time and effort to the role (see attached estimated time commitment).
• Availability to provide staff with advice and respond to enquiries on an ad hoc basis.
• Strategic vision and the ability to make independent judgments.
• Creativity and a willingness to speak up and provide challenge when needed.
• Understanding and acceptance of the legal duties, responsibilities, and liabilities associated with trusteeship.
• Ability to work collaboratively as part of a team.
• Adherence to Nolan's seven principles of public life: selflessness, integrity, objectivity, accountability, openness, honesty, and leadership.
• See Gov.uk/the-7-principles-of-public-life.