I was appointed as your treasurer after the previous treasurer resigned! I will be your treasurer for the next fiscal year.
I am proud of the new leadership that has revitalized the Club. It is my objective to support the new leadership’s zeal to protect our club’s treasury from those that have a self-serving interest in expending it. Not everyone understands that as officers we have a duty of care that extends to the financial health of this club.
In the last few years, the role of the treasurer has expanded. We no longer just track aggregate sums for an event, we now track individuals. That is, we now not only know the total income deposited for each event but also how much each participant has contributed to that deposit.
Our reports have gotten considerably more detailed so that if the figures do not add up, we are better able to discover the discrepancies as we have with some ski trip accounts which had been neglected by the previous VP of Skis.
The job is time consuming. In the past, there was considerable reliance on paper trails for the details of an event. Depending on the event chairman, these paper trails were between accurate and worthless. Now, our paper trails are only used for backup. The danger with reliance on paper trails is that they must be filed and stored per event. Willful or accidental scrambling of a historical file system as done by the previous Treasure resulted in considerable confusion, missed deadlines and inaccurate accounting.
Our Club website has greatly evolved, it is not just a communications tool, it is also a source of revenue which must be integrated with our more traditional methods of finance. Treasurers can no longer be independent of the club website so consequently the treasury must be compartmentalized, duties shared and more oversight of its separate functions is required. It is crucial that your Board members be cognizant enough to implement a working system of checks and balances between their activities and the Treasury.
Your treasury should be transparent and open to oversight by its rightful owners, the club membership. As we strive to adjust to new tools and financial methods, we should remain vigilant that we do not open avenues that can be exploited by less honest Boards. This has happened to other clubs.
In short, your treasury needs more than just a fancy degree. It needs honesty, integrity, dedication and an attitude of courtesy and cooperation.
Our technology continues to change at a rapid rate. The number of ways that a financial transaction can be executed exceeds the imagination of our club founders and consequently, our bylaws. We need to change and grow yet we must be prudent, honest and fair to our members.