Treasurer’s Role
The Treasurer oversees the general financial management of the club. They plan and keep track of budgets within the organisation, keep track of funds in and funds going out. They prepare monthly accounts for Executive committee meetings and prepare year end accounts for review by our external accountant. The Treasurer will also report to members to members at the AGM.
The club currently uses Xero accounting software to record all transactions. Data entry into Xero is shared between the club administrator and Treasurer. Invoices are raised from Xero and emailed to members for almost everything in the club and members payments are tracked and reconciled by the Treasurer. Invoices for items like balls, clothing tournament entry fees are raised and issued by club administrator and the yearly membership fees are raised by Treasurer. In 2022 over 900 invoices were issued by club. Members have the ability to pay by normal bank transfer, Credit card (enabled by Stripe) and Paypal. 99% of payments are rec’d this way. As a result, the club is almost cashless.
As stated above the treasurer provides monthly financial reports to the Executive committee for review at monthly meetings. Monthly meetings are generally held in the 2 nd week of the each month so good organisation is required to report timely. Details of payments made by the club are provided by the administrator and recorded in Xero by the Treasurer. The bank accounts are reconciled monthly by the Treasurer. The AGM is generally held in the last week of January. The accounting financial year is 1 January to 31 December. The annual accounts need to be prepared and provided to the external accountant within 3 weeks of year end.
The club has 2 regular part time employees and payroll is operated every 2 weeks. In the summer the club employs junior supervisors (normally 3) to oversee the summer programme. These supervisors are included in the payroll. Electronic payslips are sent to all employees and holiday pay at a rate of 8% of gross pay is applied. Untaken holidays are paid in December, thus no carry forward of holidays. Software is required for the operation of the payroll and this is currently provided by Jefferson Accounting & Tax Ltd free of charge.