The Honorary Treasurer works in close cooperation with, and provides support and advice to, the Chief Operating Officer (COO). The specific responsibilities of the Honorary Treasurer are to:
• Guide and advise the Board of Trustees, in the interpretation and approval of budgets, accounts, financial statements, and cash flow.
• Keep the Board informed about its financial duties and responsibilities.
• Advise the Board, and the COO on the financial implications of the organisation’s strategic plans and key assumptions included in the business plan and annual budget, especially those which are outside the agreed boundaries of management authority.
• Confirm that the financial resources of the organisation meet its present and future needs, and where not, ensure that the Board are made aware of the situation so that appropriate steps are taken to rectify the position.
• Understand the accounting procedures and key internal controls to be able to assure the Board that CCB’s financial integrity is sound.
• Support the annual process of external review of accounts, ensuring compliance with the relevant SORP.
• Formally present the accounts at the annual general meeting, drawing attention to important points, either in a written report or orally.
• Monitor the organisation’s investment activity and ensure its consistency with the organization’s policies, aims, objectives and legal responsibilities.
• Maintain contact with the organisation’s accountants, as required.
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