Charity Treasurer: Roles, Responsibilities & Getting Started
What does a charity treasurer do? Roles, responsibilities, financial reporting, and tips for new treasurers. Complete guide for UK charity trustees.
The treasurer is arguably the most important trustee role. They safeguard the charity's finances, ensure legal compliance, and keep the board informed about money. Here's what the role involves.
Key Responsibilities
Financial Management
- Maintain accurate financial records
- Prepare and present financial reports to the board
- Manage cash flow — ensure the charity can pay its bills
- Oversee bank accounts and authorise payments
- Ensure proper internal controls (dual authorisation, separation of duties)
Budgeting & Planning
- Prepare the annual budget for board approval
- Monitor budget vs actual throughout the year
- Advise on financial implications of board decisions
- Maintain the reserves policy
Compliance
- Ensure accounts are prepared in accordance with charity SORP
- Arrange independent examination or audit (depending on income thresholds)
- Submit accounts to the Charity Commission on time
- Manage Gift Aid claims (claiming guide)
- Handle PAYE, VAT, and other tax obligations if applicable
Reporting
- Present a financial update at every board meeting (minimum quarterly)
- Prepare the financial section of the annual report
- Explain financial information in plain language — not all trustees are finance people
Essential Financial Reports
- Income & expenditure report — monthly or quarterly, budget vs actual
- Balance sheet — assets, liabilities, fund balances
- Cash flow forecast — 3-6 months ahead
- Reserves report — current reserves vs policy target
- Gift Aid claim summary — amounts claimed, pending, and potential
Do You Need to Be an Accountant?
No. Many excellent treasurers are not accountants. You need:
- Basic financial literacy (can you read a spreadsheet?)
- Attention to detail
- Willingness to learn
- Time to dedicate (typically 5-10 hours/month for a small charity)
If the charity is large enough, a professional bookkeeper or accountant handles the day-to-day. The treasurer provides oversight and governance.
Getting Started Checklist
- [ ] Get access to bank accounts and financial records
- [ ] Review the last 2 years of accounts
- [ ] Understand the reserves policy (or create one)
- [ ] Review the budget for the current year
- [ ] Meet the bookkeeper/accountant if there is one
- [ ] Understand Gift Aid processes
- [ ] Review insurance policies
- [ ] Attend a Charity Commission trustee training event (free)
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