Board Treasurer Role and Responsibilities

This resource focuses on the key responsibilities and qualifications for the treasurer officer position. It can be used when a board is recruiting a candidate to fill this officer position or to better prepare a newly elected officer before they assume their position. 

Officer roles are defined in the organization’s bylaws. While the board as a whole is responsible for effectively governing an organization, the officers are responsible for fulfilling their specific roles, working together to ensure necessary tasks are completed smoothly, and promoting a positive board culture.

Role of a Treasurer in a Nonprofit Organization

The treasurer is responsible for stewarding the organization’s resources. The treasurer ensures records are maintained, reviews financial reports from the staff, and interacts with accountants and auditors to help keep the board informed of financial matters.

Key Responsibilities of a Board Treasurer

During board/committee meetings

  • Serve as chair of the finance committee
  • Work with committee chairs and/or board members to address any red flags identified in monthly financial reports and answer questions regarding such reports
  • Present annual budget to the board for approval

Outside of board meetings

  • Review monthly financial reports, compare expenses with budgets and income, and identify and anticipate problem areas
  • Interact with accountants and auditors to help keep the board informed of financial matters
  • Assist the chief executive or the chief financial officer in preparing the annual budget
  • Review the annual audit
  • Ensure that assets are protected and invested according to organizational policy

Board Treasurer Qualifications

  • Understanding of financial accounting for nonprofit organizations
  • Knowledge of financial reports and the organization’s record-keeping and accounting systems.
  • Ability and willingness to work with chief financial officer, controller, accountant or bookkeeper, and auditors as necessary