PSA Treasurer

Role of the PSA Treasurer

Information provided by Parentkind

The PSA Treasurer makes sure all committee members carry out their duties in relation to the control and management of PSA funds.

Your association’s committee is collectively responsible for the finances of the association and must therefore formally agree to any spending of funds. However, it’s the treasurer’s responsibility to ensure all financial transactions are presented and recorded correctly.

Main purpose of PSA Treasurer

The PSA Treasurer ensures accurate financial records are kept, and that best practice procedures are followed for counting money, banking, and making payments. They should keep your committee updated with regular reports, and ensure end-of-year reports are completed for the association’s AGM and, if your PSA is registered as a charity, the relevant Charity Commission’s annual return.

If you have co-Treasurers, both individuals are equally responsible for carrying out the role. If you have a vice-Treasurer, they will deputise for the PSA Treasurer, and carry out the role if the Treasurer is absent or steps down from their position.

Duties and responsibilities of the PSA Treasurer

  • Keeps accurate, up-to-date financial records
  • Presents financial updates at each committee meeting
  • Manages the PSA bank account, and holds the association cheque book
  • Arranges changes of signatories on the association bank account
  • Manages different payment platforms 
  • Ensures all bank cards, cheque books, and paying-in books are accounted for and obtained from any individual leaving the PSA
  • Ensures best practice procedures are followed for counting and banking money after events 
  • Makes approved payments
  • Ensures procedures for making approved payments and claiming approved expenses are followed by all committee members
  • Prepares the annual Treasurer’s report for your AGM and arranges an independent examination of the association’s accounts
  • Completes the relevant Charity Commission’s annual return if your PSA is registered as a charity
  • Manages Gift Aid (or assists the committee member responsible for managing Gift Aid)
  • Ensures committee members have read a copy of your association’s insurance policy summary, which should detail cash cover, and that they adhere to any guidelines contained in the document

Key Skills:

  • Basic understanding of bookkeeping – able to maintain accurate records of income and expenditure
  • Organised with an eye for detail – big events involve counting a lot of small change. The Treasurer leads the​‘money’ team, making up floats, and collecting money from various stalls 
  • Calm, approachable, and a team player – able to remain calm during busy times. Ensure they don’t work in isolation by communicating regularly with the rest of the committee.