By Nick Koerbin
Do we have a nomination for the role of Treasurer?
Bob, did I see you raise your hand?
The new volunteer Board for the Association or NFP has been elected, and there is a meeting of the Board to determine who will be the
office bearers, including the role of Treasurer.
How often have I heard the President announce – "Do we have a nomination for the role of Treasurer?
Suddenly, there is silence, and eyes are averted as the President scans the Board, looking for people to nominate for this critical
position.
The latest research undertaken by Association Executive Services
tells us that the Treasurer's role on an NFP board is the hardest to recruit.
I know how daunting it can be when you have been elected as the Treasurer. How do I know this?
I am the Treasurer on the Board of my local business association.
Let me tell you, you don't need to have a Master's in Accountancy to qualify as a Treasurer ( but it would be great if you had someone with
those accounting qualifications)
I certainly don't, but it helps if you can read and understand a profit and loss statement, balance sheet, and cash flow and have a good
relationship with your accountant
All associations, large and small, must be financially sustainable, and the role of the Treasurer is responsible to the Board and the
members to oversee and report on the organisation's financial position at Board meetings and at the Annual General meeting.
For those nominated as a Treasurer for an Association or NFP organisation, I have put together some actions the Treasurer should undertake.
They are:
In particular, the Treasurer should:
For over seven years during the 1990s, I was involved with the Total Quality Management Institute, formed by leaders of some of Australia's major corporations.
There are many challenges that associations face when generating membership growth, particularly when competing with organisations providing services similar to your potential membership base. Here are some tips worth considering that have worked for our clients.
Most Associations and NFP organisations rely on their members to govern their organisation. Many appointed to the Board have limited knowledge or training, so high-performing associations ensure their new Board members are fully inducted before attending their first Board meeting.