Duties of the Treasurer
Adams Stirling PLC
Menu

DUTIES OF TREASURER

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.

ASSISTANCE: Associations needing legal assistance can contact us. To stay current with issues affecting community associations, subscribe to the Davis-Stirling Newsletter.

Adams Stirling PLC