Following is a transcript of this episode of the Two Minute Treasurer’s Tip Podcast, with audio/video below.
Welcome to the Two Minute Treasurer’s Tip Podcast. I am your host, Cyndi Meuchel.
Toni writes: We’re starting to look for a new Treasurer for next year; what are some of the qualities we should be looking for?
Great question, and honestly, a question you really do want to spend some time on. Getting the right volunteer for this role is critical in making sure your group is covered for their financial reporting needs.
So, here are a few things to look for whether you’re looking for a Treasurer or wondering if you would make a good Treasurer for your group.
First, a good Treasurer needs to be detail-oriented. Your status as a non-profit depends not only on good bookkeeping but also on maintaining clear, auditable financial records. If the candidate you’re considering has trouble turning in receipts for reimbursement or has had trouble keeping track of their expenses when they have led projects for you in the past, maybe they aren’t a great fit for this position.
Second, and I can’t stress this enough, they must have the time. Too often, Treasurers are told that they’ll only need to write a few checks and keep track of the bank balance if they take on the job. The reality is, the Treasurer will be involved in every event where money is handled, every board meeting, and every general meeting, so make sure they know what they are getting into from the start. Otherwise, you may find yourself looking for another new Treasurer part-way through the year.
Here’s an idea: you might consider looking for an Assistant Treasurer at the same time; that way they can support the Treasurer first, then step into the Treasurer position next. This gives them extra time to learn the process and make sure they are up for the task.
There you have it! My name is Cyndi Meuchel, and this is your Two Minute Treasurer’s Tip for today.