Treasurers do not have
unlimited authority over the association's monies. Unless the governing documents provide otherwise, a treasurer's duties are as follows:
oversee the association's operating account and reserve account,
keep and maintaining the association's financial documents,
oversee the deposits,
oversee investments,
ensure that bills are paid,
oversee the preparation of the budget,
ensure that a report of financial transactions are made to the board,
ensure that a reserve study is prepared,
serve as the board's liaison with the association's auditor,
review and implement safeguards to protect the association's financial assets,
ensure that tax returns are filed on time, and
sign bank cards and co-sign checks with the president or secretary.
The treasurer can delegate many of his/her duties to the manager, management company, or an assistant, but must oversee the work.