Honorary Treasurer - Spectacle Theatre Limited, Porth, South Wales
|Job Title:||Honorary Treasurer - Spectacle Theatre Limited, Porth, South Wales|
|Contact Name:||Jayne Kendall|
|Job Published:||August 12, 2019 12:44|
Treasurer Spectacle Theatre Ltd
Job title Honorary Treasurer
Direct report Works closely with the Chair, Chief Executive and the board of trustees.
Background Finance, Strategy and Governance, Fundraising, Legal, Risk.
Monitor the financial standing of the charity and reports to the Board and CEO regarding cash-flow forecasting, income streams, out-going expenses and the overarching strategic management of the organisation’s financial resources.
Develop and oversee the charity’s financial risk-management process and report financial health to the board of trustees at regular intervals.
Acts as a counter signatory on cheques and applications to funders and ensure that annual accounts are submitted to all relevant regulators in a timely fashion.
Liaising with external auditors on financial issues and ensuring that the organization’s finances are responsibly managed and invested for the betterment of the organization’s work and for the beneficiaries it serves.
Main responsibilities of the treasurer
In relation to finance
Budgeting and strategic financial planning
- Ensure all strategic plans are financially appraised and budgets are aligned to both short-term and long-term objectives each year.
- Oversee planning/budgeting processes in participation with the Board and constructively challenge where required.
- Suggest alternative scenarios while evaluating strategic plans as a part of the risk management process and as a part of performance and reporting scenarios.
- Create greater transparency and accountability to improve resource allocation and charity’s image by adding specific measures as per SORP guidelines.
- Ensure a high standard of management accounting is maintained in order to safeguard assets.
- Liaise with Finance Director and trustees to prepare and produce management accounts regularly.
Statutory Financial Reporting
- Board level liaison with external auditors on specific issues in the auditing process and related board representations.
- Guide and advise fellow trustees to formally approve the annual report and audited accounts.
- Explain technicalities of accounts in plain language which is fully understood by the trustees.
- Develop reserves policy and safeguard the organisation’s finances.
- Keep the board informed of free reserves position regularly and advise to cope with changing circumstances.
In relation to Governance
- Lead the Board’s duty to ensure proper accounting records are kept, financial resources are controlled, invested and economically spent in line with governance, legal and regulatory requirements.
- Chair finance committees in line with standing orders and terms of reference and reporting findings/developments back to the Board of trustees.
- Advising on the financial implications of the charity’s strategic plans and overseeing the charity’s financial risk-management process.
- Lead in the development and implementation of financial reserves, cost management and investment policies.
Qualities of a Treasurer
- Qualified accountant with demonstrated commercial awareness and knowledge.
- Knowledge of charity SORP and impending changes.
- Competent use of IT skills.
- Proven ability to communicate and explain financial information to members of the Board and other stakeholders.
- Analytical and evaluation skills, demonstrating good judgement.
- Understanding and acceptance of the legal duties, responsibilities and liabilities of trusteeship.
- Good communication and leadership skills
- Demonstrated knowledge and experience of charity fundraising and finance practices.
- Dedicated to the organisation’s cause and objectives and willing to act as the charity’s ambassador to external bodies, charities and companies.
- Skills and experience in one or more areas of non-executive governance and management e.g. strategic planning, business management, financial/accountancy, understanding of HR issues, experience of Trusts or other grant giving bodies particularly fundraising and legal knowledge.
- A team-oriented approach to problem solving and to management.
Time commitment and location
- The Board meets at least 4 times a year and the chair is expected to be available 4times in a year.
- You will be a member of a sub-committee which will meet at least 2 times in a year.
- Attendance at award meetings or fundraising meetings is optional.
- Board meetings are held at the organisation’s premises: The Factory Porth CF39 9PP