The Treasurer's role and responsibilities

Updated: 27 May 2018
Your treasurer should be happy to handle petty cash and pay bills
Lisburn North community group
It is most important that a community association is not spending money that it does not have, and that good records are kept of its income and expenditure.

A treasurer should

  • Open a bank account for the community association. This can be easily done and bank staff can explain how to do so.
  • Pay all money coming into the community association into the bank account, apart from a small sum of cash, say about £5, which should be kept at hand as 'petty cash'
  • A record must also be kept of the petty cash and what it is. Any remaining petty cash at the end of the year should be added to the present balance in the accounts for the Annual General Meeting.
  • Make a regular statement to the committee on how much money the community association has spent and still has in its account.
  • Pay bills for the community association.
  • Give out receipts for money given to the community association.