Treasurer –
Terms of Reference

Purpose

As per Article IV Section 2e) in the Constitution; the Treasurer shall be responsible for the keeping of the financial records and shall arrange for the custody and disbursement of funds, pursuant to the direction of the Executive Board. The Treasurer may be subject to reasonable requirements of insurability and/or bondability as determined by the Executive Board (as taken from Article VIII, Section 1). The Treasurer shall submit to the Executive and membership a proposed annual budget and a semi-annual financial report (see Article VII – Finances).

Designation

The Treasurer is an elected position for a calendar year (January to December) and is a volunteer position. The Treasurer is an Officer of the union and shall also be designated a Union Steward (if not already a Steward).

Confidentiality

The Treasurer must sign a Confidentiality Agreement as s/he is privy to confidential information and discussions.

Role

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

His/her principle duties are to:

  • oversee the development of high level financial policies and their review by the board;
  • prepare the annual budget and its presentation to the board for review and approval;
  • present the approved budget to the general membership no later than April 30th;
  • ensure that the appropriate quarterly budget is presented to the Executive Board for review;
  • monitor the financial performance and alerts the Executive Board to any important discrepancies between planned and actual figures;
  • ensure that the bookkeeper maintains the appropriate financial books and records and that these are accurate and up-to-date;
  • ensure that the government tax filings and remittances are submitted on a timely basis;
  • ensure that payroll and other liabilities are settled in a timely manner;
  • serve as a co-signer of cheques with at least one other signing officer;
  • ensure that excess funds and reserves are properly held and invested;
  • meet with the external auditor annually, or more often if needed, to identify any financial control of record keeping problems or deficiencies and oversee action by the bookkeeper to address them;
  • recommend to the board the need for a review or renewal of the auditing services provided; and
  • keep the board informed of important financial events, trends, and issues relevant to YusApuY.

Qualifications

The YusApuY Tresurer shall have:

  • a Commitment to YusApuY’s mission and strategic directions;
  • an understanding of, and experience with, good financial management and reporting practices;
  • an appreciation of the kind and level of financial information needed at the board level to support decision making; and
  • an ability to commit the time required to fulfill the responsibilities described.

YusApuY Executive Board Meetings

The Treasurer is a voting member of the YusApuY Executive Board for the calendar year (January to December) and is therefore responsible for attending all Executive Board Meetings. The schedule (frequency, day and time) for Executive Board meetings for the year is determined by the Executive Board at the two-day planning retreat held at the beginning of the year. Typically, Executive Board Meetings happen in the evenings, outside of regular work hours and is therefore volunteer time.