Treasurer Position Overview

Based on the NEAIR Constitution …
The term of service for the position of Treasurer is three years with an additional half of year to overlap with Treasurer-elect.

The Treasurer shall be responsible for the receipt and disbursement of all funds in accordance with established internal controls and payment card compliance standards, and for the establishment and maintenance of appropriate records of all fiscal transactions. The Treasurer shall be responsible for preparing an annual budget to be submitted to the Finance Committee for its review and approval and then to the Steering Committee for final approval.  The Treasurer also presents an annual fiscal report at the Annual Meeting. The Treasurer shall ensure that all expenditures are within the approved budget and have been properly incurred under the policies of the Association.
 
Responsibilities:
  • Accounts for all revenues and expenditures, signs all checks, records all financial transactions utilizing acceptable accounting practices.
  • Ensures that all NEAIR funds are collected and disbursed in accordance with NEAIR's established Policies and Procedures.
  • Reviews bank reconciliations prepared by the Association’s bookkeeper.
  • Prepares a Treasurer's Report consisting of a financial statement of revenues and expenditures, a comparison of the budget with actual expenditures, a comparison of the current year with previous years, and details on conference finances for each Steering Committee meeting.
  • Prepares and presents a Treasurer's Report consisting of the above items for the just-completed fiscal year for the Association's Annual Meeting.
  • Works with Finance Committee to prepare and present a draft budget for the upcoming fiscal year for review by the Steering Committee at its Spring/Summer meeting.
  • Monitors performance of the Association’s investment account and shares quarterly results with the Finance Committee.
  • Hires and supervises the part-time bookkeeper.
  • Coordinates the preparation of a federal tax return with the Association’s bookkeeper.
  • Seeks and maintains files on NEAIR’s state tax exemption certificates.
  • Serves ex-officio on the Finance Committee.
  • Serves on the Investment Committee.
  • Reviews and revises the Annual Conference budget prepared by the Administrative Coordinator
  • Provides bank account signature cards for the appropriate new officers at the Steering Committee meeting held in conjunction with the Annual Conference.
  • Identifies and prepares records for destruction as outlined in the Document Retention and Destruction Policy.
  • Ensures payment card procedures are compliant with industry security standards.
  • Ensures that sufficient separation of responsibilities exist among the treasurer, managing director, and accountant/bookkeeper to minimize the possibility of fraud
  • Vets and secures an accounting company for the procedures engagement for the year following the outgoing Treasurer’s term.
  • Oversees the procedures engagement and ensures recommendations made in the procedures engagement are instituted.
  • Oversees the in-house audit in the years not requiring a procedures engagement
 
Skills & qualities important for the role:
Must be a NEAIR member in good standing for at least one (1) year by the time of the start of the nominated term.
  • Knowledge of accounting principles
  • Able to work in a team environment
  • Good listener who is willing to consider a variety of viewpoints
  • A willingness to compromise when appropriate
  • Commitment to engage in Steering Committee discussions and to make sound decisions for the good of the organization
  • Able to follow through with tasks assigned in a timely manner 
 
Time commitment:
  • There are three face-to-face Steering Committee meetings (5-6 hours in length) and two Steering Committee meetings held via conference call (usually 1.5 hours in length).  The face-to-face meetings involve  travel with one in November at the annual conference, one in the spring (typically in March or April) and one in the summer (typically in July).  The conference call meetings are typically in January and September.
  • Meetings are held in locations that are the most economical for NEAIR and which are the closest for the majority of those who attend. Expenses for travel and accommodations for the spring and summer meetings are reimbursed by NEAIR when appropriate documentation is provided. Most arrive the night before and leave immediately after the meeting.
  • Prior to each meeting, SC members receive a packet of material to review, which contains committee reports, minutes of the previous meeting, treasurer’s report, proposals for consideration, etc. This may take a couple of hours to review.
  • Committee work requires some time but mostly through conference calls and email discussions.
  • Routine record keeping, reviewing account reconciliations prepared by the bookkeeper,  paying bills, reimbursing travel expenses, issuing refunds, and  reviewing deposits requires 12 to 15 hours per month in the months surrounding the annual conference (2 months prior and 1 month after-typically September, October, November and December). During the months in which organizational activities are held (i.e. committee meetings requiring travel, PDS workshops -typically January, March, June and July) this activity requires 6 to 8 hours per month. The remaining four months of the year this activity requires 2 to 4 hours per month.
Current and Past Governance Lists:
Current Steering Committee
Past Governance Teams  

Revision History:
A. Bartlett 1/27/2019