Article: The Role of the Board Treasurer
Many boards have an executive committee and one of the officers often has the title as treasurer.
In many boards, this office exists in name only and the person functions as a figure head with no real duties. Her duties may actually be fulfilled by the Chief Financial Officer, by the CEO, or by another staff person. In certain boards, the role is meaningful and the treasurer plays a significant role in the financial risk oversight of the board.
If you are a treasurer and you are wondering what your role could include, this information provides very important details regarding 6 specific functions which relate to:
- financial risk oversight
- accuracy of information
- budgeting
- type of accounting
- operating budget; and
- capital budget.