Volunteer Postings WEDO   Canada

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Young Businesswoman

Board Treasurer

Volunteer Position
Position Description

The board treasurer is an executive and voting member of the board of directors of WEDO Canada and is accountable to the Board for the fulfillment of the duties and responsibilities outlined below.

Time Commitment

Ten hours per month (board meetings, meetings with the Chair of the Board, Finance committee meetings)

 

Term of Office 

Two years with the possibility of renewal for a second term.

 

Roles and Responsibilities

The treasurer will offer guidance to the Chair of the Board and financial officer in ensuring good fiscal planning, decision-making and oversight at a governance level. 

The principle duties are to:
  • Assist with obtaining charitable status for the Organization

  • Oversee the development of high-level financial policies and their review by the board 

  • Assist in the preparation of the annual budget and its presentation to the board for review

  • Ensure that the appropriate monthly or quarterly financial statements are reviewed by the board

  • Ensure that the board regularly monitors the organization’s financial performance and alerts it to any important discrepancies between planned and actual figures

  • Ensure that the organization maintains the appropriate financial books and records and that these are accurate and up-to-date 

  • Ensure that government tax filings and remittances are submitted on a timely basis

  • Serve as a co-signer of cheques with at least one another signing officer 

  • Ensure that excess funds and reserves are properly held and invested

  • Verify that donations are handled appropriately and that grants and service delivery contracts are accounted for in accordance with the requirements of funders

  • Meet with the external auditor annually, or more often if needed, to identify any financial control and record keeping problems or deficiencies and oversee action by the Chair of the Board to address them

  • Recommend to the board the need for a review or renewal of the auditing services provided

  • Assists the Chair of the Board with the development and presentation of the annual report

  • Present or co-present the organization’s financial report and recommend appointment or reappointment of auditor at the Annual General Meeting

  • Helps, along with the Chair of the Board, to keep the board informed of important financial events, trends, and issues relevant to the organization 

Committee Membership - The treasurer is the chair of the Finance Committee. 

 

Qualifications
  • Commitment to the organization’s mission and strategic directions

  • An understanding of, and experience with, good financial management and reporting practices for Not-For-Profit organizations

  • Experience with QuickBooks online

  • Previous board experience along with governance knowledge

  • A professional accounting designation is required

  • An appreciation of the kind and level of financial information needed at a board level to support decision making

  • An ability to commit the time required to fulfill the responsibilities described

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