Terms of Reference for the Treasurer
- Monitors accounts – communicates with accountant and auditor
- Monitors contributions
- Communicates with the Membership about finances
- Evaluates credentials to participate in Council and nominate candidates
- Prepares financial report to Council
- Prepares draft budget for Council in collaboration with President and General Secretary.
Furthermore, according to the Statutes:
Article 3 The Treasurer shall prepare and submit to the regular session of the Council each year for its approval a Financial Statement including a statement of the Federation’s financial position, a statement of the Federation’s comprehensive income, a statement of the Federation’s cash flows and a comprehensive report on the receipts and expenditures of the Federation during the previous financial year. The report of the Treasurer shall be accompanied by a detailed statement of the income derived from fees, gifts or other sources and the manner in which the Executive Committee has administered these resources in accordance with Article 34(c) of the Statutes. Council shall review the External Auditor’s Report prior to approving the Treasurer’s report and financial statements.
Article 4 Prior to its submission to the Council for approval, the annual report of the Treasurer shall be examined by an external auditor in accordance with Article 41 of the Statutes.
Article 5 The Treasurer who should normally be bonded shall be responsible for keeping complete records of all cash receipts and disbursements, which shall be handed to the external auditor referred to in Article 4 above. Detailed financial records shall be retained for seven years.