Role of Treasurer

Title:            Treasurer

Direct Report:        Works closely with the Chair, Manager and the board of trustees.

Background:          Finance, Strategy and Governance, Legal, Risk.

1.0 Role Summary

  • Monitor the financial standing of bact and report to the Board and CEO regarding cash-flow forecasting, income streams, out-going expenses and the overarching strategic management of the organisation’s financial resources.
  • Oversee the charity’s financial risk-management process and report financial health to the board of trustees at regular intervals.

2.0 Main Responsibilities

In relation to Finance

Budgeting and strategic financial planning

  • Ensure all strategic plans are financially appraised and budgets are aligned to both short-term and long-term objectives each year.
  • Oversee planning/budgeting processes in participation with the Board and constructively challenge where required.
  • Suggest alternative scenarios while evaluating strategic plans as a part of the risk management process and as a part of performance and reporting scenarios.
  • Create greater transparency and accountability to improve resource allocation and charity’s image by adding specific measures as per Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) guidelines.

Management Reporting

  • Ensure a high standard of management accounting is maintained in order to safeguard assets.
  • Liaise with manager and trustees to prepare and produce management accounts regularly.

Statutory Financial Reporting

  • Board level liaison with external auditors on specific issues in the auditing process and related board representations.
  • Guide and advise fellow trustees to formally approve the annual report and audited accounts.
  • Explain technicalities of accounts in plain language which is fully understood by the trustees.

Reserves Policy

  • Develop reserves policy and safeguard the organisation’s finances.
  • Keep the board informed of free reserves position regularly and advise to cope with changing circumstances.



In relation to Governance

  • Lead the Board’s duty to ensure proper accounting records are kept, financial resources are controlled, invested and economically spent in line with governance, legal and regulatory requirements.
  • Chair finance committees in line with standing orders and terms of reference and reporting findings/developments back to the Board of trustees.
  • Advising on the financial implications of the charity’s strategic plans and overseeing the charity’s financial risk-management process.
  • Lead in the development and implementation of financial reserves, cost management and investment policies.

3.0 Person Specification

Essential

  • Qualified accountant with demonstrated commercial awareness and knowledge.
  • Knowledge of charity SORP and impending changes.
  • Competent use of IT skills.
  • Proven ability to communicate and explain financial information to trustees and other stakeholders.
  • Analytical and evaluation skills, demonstrating good judgement.
  • Understanding and acceptance of the legal duties, responsibilities and liabilities of trusteeship.
  • Good communication and leadership skills

Desirable

  • Demonstrated knowledge and experience of charity fundraising and finance practices.
  • Dedicated to the organisation’s cause and objectives and willing to act as the charity’s ambassador to external bodies, charities and companies.
  • Skills and experience in one or more areas of non-executive governance and management e.g. strategic planning, business management, financial/accountancy, understanding of HR issues, experience of Trusts or other grant giving bodies particularly fundraising and legal knowledge.
  • A team-oriented approach to problem solving and to management.

4.0 Time Commitment

  • The Board meets at least 8 times a year and the Treasurer is expected to be available 6 times in a year     
  • Attendance at award meetings or fundraising meetings is optional

5.0 Location

  • Board meetings are held in various locations in Bungay and Beccles, Suffolk.

6.0 About bact community transport

bact provides transport for people living in the Waveney district of Suffolk and the south eastern area of south Norfolk for whom other forms of public transport are not easily available.  In the average year we transport around 40,000 passengers on journeys covering 400,000 miles.  We have several services:

These services are open to all: young, old, able-bodied or infirm.

The majority of journeys undertaken are for transporting passengers to medical services and day centres on behalf of the local authorities, but many others are for shopping, family visits and similar.

Transport is provided by volunteer drivers, using either their own vehicles or our minibuses and wheelchair-accessible vehicle.  If you are interested in helping the community by becoming volunteer, we would love to hear from you.

bact is funded by fares, contracts, grants, fundraising and donations.  bact increasingly relies on fundraising and donations.