The Treasurer

AASPA Leadership Position Description

General Responsibilities

  • Maintain accurate records of the financial status of AASPA
  • If there is no Management Company in place, the Treasurer shall pay all bills approved by AASPA Board of Directors, and record all receipts of those payments. If the amount is over $5,000 the Treasurer will need to acquire the cosignature of the President.
  • Review the financial status of previous years, before assisting in the drafting of the annual budget.
  • Have all records audited annually and upon departure from the office. The method of audit will be determined by the Board of Directors.
  • Provide a detailed report of fiscal accounts and contacts to be forwarded to the next Treasurer.
  • Work with the corporate sponsorship committee to identify nondues sources of revenue.
  • Submit a monthly, quarterly, and annual written financial report to the Board of Directors. The quarterly report should be submitted two weeks prior to the Board of Directors meeting. The annual report should be submitted two weeks prior to the annual meeting.
  • Prepare annual budget
  • Coordinate the collection of yearly dues from all members (perhaps through a management firm) and make sure that delinquent membership dues and special assessments are collected.
  • Write a column for each edition of AASPA’s newsletter providing a summary of the organization’s financial status.

Committee Responsibilities

  • Serve on (not chair) the ad hoc Financial Advisory Committee (planning the annual budget).
  • Provide financial advice and investment strategies to the ad hoc Financial Advisory Committee.

Attendance Responsibilities

  • Miss no more than one Board of Directors meeting.
  • Attend Leadership Retreat/Strategic Planning Session.

The main responsibility of the Treasurer is directing the organization’s fiscal policy and money. A budget proposal should be provided to the Board of Directors to serve as a guide for making decisions for the organization. Monitoring the disbursement of funds related to specific budgeted uses throughout the year is a useful and necessary tool for maintaining a balanced budget. A financial report should be presented to the Board of Directors for the preceding quarter of each Board meeting. In addition, an annual fiscal report should be presented to both the Board and membership at annual meetings. The Treasurer should recognize the need for nondues sources of income and propose specific projects to the Board of Directors as a means to generate and obtain new sources of income. This officer must be a detail-oriented person and possess exceptional organizational skills. He or she may have other additional duties, as assigned, by the President and/or Board of Directors. The Treasurer should also prepare a final report of the year’s activities of the office and include recommendations for the following year. This position will require approximately 5-10 hours per month. More hours may be required during times of membership renewal.

Skills/experience needed to successfully serve in this position are:

  • Prior Board of Directors or committee chair experience recommended
  • Organizational skills/Is comfortable doing accounting and balancing checkbooks
  • Detail-oriented/Bonus Skills/Experience /Budget development skills