Trustees - Role Description
The role of the Treasurer is to provide strategic advice and support to the Board of Trustees, the Chair, the Chief Executive and Head of Finance in all matters relating to the financial running of Carer Support Wiltshire (CSW), ensuring the charity operates on a sound, sustainable financial basis in accordance with charity and companies legislation, and CSW’s financial policies.
They must have a sound knowledge of CSW’s financial procedures with a good working knowledge of financial legislation relating to the running of a registered charity to fulfil both financial and governance duties.
The principal responsibilities of the role are to:
- chair the Finance Sub-committee in line with CSW’s Articles of Association and Terms of Reference and reporting key findings/developments to the Board of Trustees.
- oversee the annual budget to be produced by the Head of Finance along with the annual business plan prior to recommendation for approval by the Board in accordance with the annual planning process.
- monitor CSW’s financial standing and oversee reports for the Board provided by the Head of Finance on cash-flow forecasting, income streams, and expenditure to ensure trustees can exercise governance of CSW’s financial resources. In particular, the Treasurer will monitor the balance sheet and reserves position to ensure the charity is operating as a going concern and in accordance with the Reserves Policy.
- oversee CSW’s financial risk-management process, liaising with the Chairs of the other Sub-Committees which oversee relevant areas of risk, and report on CSW’s financial risk status and health to the Board at regular intervals.
- ensure CSW has the appropriate level of financial controls in place, and provide cover for other trustees who are designated counter-signatories when they are on holiday or unwell, in accordance with the Financial Procedures Policy, and on major applications to funders. To undertake spot checks of invoices and payments ensure that annual accounts are submitted to all relevant regulators in a timely fashion and in accordance with SORP.
- liaise with external auditors on financial issues and oversee the selection of new auditors. ensure that CSW’s financial assets are responsibly managed/invested for the betterment of its work and for the beneficiaries it serves.
As with all other Trustees, the Treasurer should focus on CSW’s strategic purpose and the needs of its beneficiaries. The Treasurer should be fully committed to CSW’s mission, vision and objectives and operate in line with CSW’s values.
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.
- Review the Head of Finance and Resources’ report on budget performance and projected out-turn at the six-month point.
- Advise the Head of Finance and Resources and Head of Fundraising on their costings and/or budgets for major bids and contract tenders.
- Suggest alternative scenarios while evaluating strategic plans as part of the financial and overall risk management process, strategic portfolio management and performance and reporting scenarios.
- Engender transparency and accountability to achieve effective resource allocation and underpin CSW’s reputation adopting specific measures required by SORP guidelines.
- Ensure a high standard of management accounting is maintained to safeguard assets and enable Trustees and senior management to anticipate actions that may be required.
- Ensure that the executive provide financial information to the Board which is clear to understand and provides sufficient detail for Trustees to make strategic decisions.
- Advise the Trustees, Chief Executive and Head of Finance and Resources on the key financial issues identified in regular management accounts.
- Ensure the executive provide assurance that CSW is adequately insured for property, employer's liability, public liability and other such risks as directed by the Board.
- To monitor the payment of salaries, PAYE, National Insurance contributions, VAT, Statutory Sick Pay and expenses and to advise as appropriate on the preparation and submission of returns to the appropriate bodies.
Statutory Financial Reporting
- Board-level liaison with external auditors on specific issues in the auditing process and related Board representations. In this regard, ensure regular review of CSW’s auditors, including the auditing tendering process.
- Guide and advise the Chair and fellow Trustees to formally approve the annual report and audited accounts.
- Explain technicalities of accounts in plain language which is fully understood by all Trustees.
- Oversee the development of CSW’s reserves policy and safeguard the charity’s finances.
- Keep the Board regularly informed of the level of free reserves and advise on ways proactively to address changing circumstances.
The Treasurer’s role is pivotal to effective Board governance and financial management. The Treasurer's role, as with all Trustees, is essentially oversight and direction – “eyes on, hands off”. The Treasurer may, however, judge it necessary to explore some areas in depth either as part of routine assurance or if an issue should arise requiring more scrutiny. The Treasurer works closely with the Chair, so that the latter is well briefed on significant financial developments and potential governance issues, particularly in advance of the Board, audit and the final draft of the Trustees’ Annual Report.
The Treasurer works closely with the Head of Finance and Resources and Chief Executive, predominantly at a strategic level; the production of reports, routine liaison with auditors and secretariat of the Finance Committee lies with the executive.
The Treasurer also works with other Subcommittee Chairs, fostering collaboration and a strategic approach between all.
- Qualified accountant with demonstrable commercial awareness, current knowledge and a minimum of five years’ experience.
Good communication, leadership skills and a team-oriented approach to problem solving and strategic management
- Knowledge of charity SORP and willingness to keep abreast of associated changes.
- Proven ability to communicate and clearly explain financial information and its implications to members of the Board and other stakeholders who may not have finance background or expertise.
- Analytical and evaluation skills, demonstrating good judgement.
- Understanding and acceptance of the legal duties, responsibilities and liabilities of Trusteeship.
- Competent IT skills.
Tenure and Terms
The Treasurer is elected at the first meeting of the financial year with all other key CSW Board Office Holders and is expected to serve an initial two-year term and is eligible for reappointment for two further one-year terms.
The Treasurer is expected to represent CSW as directed by the Chair and agreed with the Board and to report as appropriate. In addition, the Treasurer may be invited to chair advisory groups or working groups to address specific issues/tasks as requested by the Chair and agreed by the Board.
The Treasurer should participate in relevant training as appropriate.
The Treasurer should revise this role description as necessary in consultation with the Board.
Two days a month which includes the main meetings and routine commitments:
- Five Board meetings a year plus preparatory liaison with the Chair, Chief Executive and Head of Finance and Resources, the latter producing the reports, and pre-reading.
- Five Finance Sub-Committee meetings, plus preparatory liaison with the Head of Finance and Resources on the agenda and papers.
- Liaison with the Auditors and the Head of Finance and Resources on the Trustees Annual Report One Board away day.
- Optional attendance at charity events.
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