Treasurer
A treasurer is a person responsible for the financial operations of a government, business, or other organization.
Government
The treasury of a country is the department responsible for the country's economy, finance and revenue. The treasurer is generally the head of the treasury, although, in some countries (such as the United Kingdom or the United States) the treasury reports to a Secretary of the Treasury or Chancellor of the Exchequer.[citation needed]
In Australia, the Treasurer is a senior minister and usually the second or third most important member of the government after the Prime Minister and Deputy Prime Minister. Each Australian state and self-governing territory also has its own treasurer.[citation needed]
From 1867 to 1993, Ontario's Minister of Finance was called the Treasurer of Ontario.[citation needed]
Originally the word referred to the person in charge of the
Corporate treasurers
In corporations, the Treasurer is the head of the corporate treasury department. They are typically responsible for: liquidity risk management; cash management; issuing
In the Inns of Court
In the Inns of Court, the professional associations for barristers in England and Wales, the bencher or master of the bench who heads the inn for that year holds the title 'master treasurer'.[citation needed]
This title is similarly used by other legal associations sharing a British heritage, such as the
Volunteer organizations
Many volunteer organizations, particularly
The treasurer would also be part of the group which would oversee how the money is spent, either directly dictating expenditure or authorizing it as required. It is their responsibility to ensure that the organization has enough money to carry out their stated aims and objectives, and that they do not overspend, or under spend. They also report to the board meetings and/or to the general membership the financial status of the organization to ensure checks and balances.[1] Accurate records and supporting documentation must be kept to a reasonable level of detail that provides a clear audit trail for all transactions.[2]
See also
- Bursar
- Bursary
- Certified Treasury Professional
- Chief financial officer
- Comptroller
- Auditor general
- Treasury management
References
- ISBN 978-0-306-82020-5.
- ISBN 978-0-306-82019-9.
Further reading
- National Association of Parliamentarians®, Education Committee (1993). Spotlight on You the Treasurer. Independence, MO: National Association of Parliamentarians®. ISBN 1-884048-26-9.
- Treasury Management International, The Functions of a Corporate Treasury, Dr Heinrich Degenhart, Verband Deutscher Treasurer e.V.
External links
- O*NET-SOC 11-3031.01 ~ Treasurers and Controllers
- U.S. Department of Labor SOC 11-3031 ~ Financial Managers
- Association of Public Treasurers of the United States and Canada (APTUSC)
- California Municipal Treasurers Association (CMTA)
- Oklahoma Municipal Treasurers' Association (OKMTA)
- Government Treasurers' Organization of Texas (GTOT)
- Virginia Treasurers' Association (TAV)