Position Responsibilities - Treasurer

General Description

The Treasurer is responsible for overseeing the financial management of the chapter. Activities include the development of an annual budget, maintaining control and accountability over revenues and expenditures and financial reporting to the Board. The Treasurer is responsible for the safekeeping, recording, and disbursement of all chapter funds in accordance with established fiscal policy, Board direction, and the annual operating budget. The Treasurer is also responsible for attending Board meetings and for reporting all requested financial information to the National HFMA office in accordance with established.

Term:

One Year 

Time Commitment:

120 hours/year average or 10 hours/month average 

Goals, Objectives and Responsibilities:

  1. Keep chapter Board of Directors informed of current financial position.
  2. Develop a budget of revenues and expenses and present at May Board meeting for approval.
  3. Submit an annual operating budget to National office by June 1st.
  4. Assure that appropriate information is submitted to the National office for reporting on a timely basis.
  5. Oversee financial review/audit to test and validate fiscal integrity and operating guidelines to prepare for completion of IRS Form 990 which is due by August 1st.
  6. Maintain records in accordance with generally accepted accounting principles and as required by National HFMA, utilizing QuickBooks on-line as provided by National. Coordinate and clarify financial reporting with National, as required
  7. Maintain and/or establish clear financial policies and procedures and chart of accounts.
  8. Maintain a chapter checking account and obtain appropriate signature cards and resolutions in appropriate institution per chapter policy.
  9. Issue all checks for budgeted expenditures and/or any exceptions approved by the Board on a timely basis.
  10. Assure that all expenditures are approved and verified prior to payment in accordance with Chapter Policies B03 and B04.
  11. Assure that all receipts and disbursements are recorded consistent with the appropriate accounting conventions currently in practice.
  12. Assure that all deposits are made in full with appropriate back-up and receipt.
  13. Offer appropriate assistance and support to the annual review/audit process.
  14. Prepare and deliver a Financial Report for the prior month, including financial statements, at each Board of Directors meeting.
  15. Maintain chapter certificates of deposit or other investment vehicles and reinvest as directed by the Board of Directors, transferring funds in accordance with best practices.
  16. Advise the Board as to appropriate investment options as excess funds become available.
  17. Obtain appropriate information from, and prepare 1099s for, any speaker whose fee exceeds the amount per the IRS Rules.
  18. Work with designated payroll company to ensure proper payment to Chapter Administrator and proper payment of all required taxes.
  19. Make every effort to attend as many applicable meetings as possible and participate in National conference calls and webinars applicable to Board Officers:
    • Chapter Quarterly Education sessions, the Annual Institute and other National meetings as required.
    • Chapter networking functions.
    • New member breakfast meetings as scheduled.
  20. Coordinate as appropriate with the Chapter Administrator to ensure an orderly flow of information and timely completion of tasks.
  21. Maintain all records in accordance with National and 990 reporting requirements as well as chapter and National record retention requirements.
  22. Deliver all accounting records in appropriate, balanced order to the incoming treasurer.
  23. Refer to the Davis Chapter Management System (DCMS) and the Planning Calendar and Resource Guide for details on chapter requirements and additional resources.