Treasury

Treasury Group keep an eye on all our finances. They do things like presenting the quarterly outturn reports to the General Meetings (e.g. explaining that the insurance costs more this year because they've put prices up), organising people to become cheque signatories (getting the forms, getting them filled in, getting I.D. from people, etc), and looking at our options for a high interest account or ethical investment policies.

 

Treasury Group – What We Do:

  1. Prepare the Annual Budget for discussion and approval at General Meetings (in October or November).
  2. Oversee the finances in general and keep MC informed of any problems.
  3. Appoint a group member as the Co-op’s nominated Treasurer to sign documents as required.
  4. Present financial information to the Co-op when requested.
  5. Prepare and present a quarterly out-turn report to General Meetings giving details of Co-op income and expenditure related to budget projections.
  6. Present the last financial year’s accounts to the AGM, including a breakdown of non-housing expenditure.
  7. Evaluate banking arrangements and ensure the Co-op’s bank is meeting requirements.
  8. Administer the Worker’s wages.
  9. Advise Management Committee on investment of the Co-op’s reserves.
  10. Liaise with other groups regarding the Co-op’s finances where necessary (especially regarding maintenance expenditure, rental income and void loss).
  11. Ensure financial items are put on the General Meetings agenda (e.g. approval of accountants and audit).
  12. Ensure that meetings are held to enable Treasury business to be conducted.
  13. Discuss and implement decisions on bad debts and current tenant debts (other than rent arrears).
  14. Review and recommend changes to financial procedures where necessary.
  15. Approve changes to budget and overspend.
  16. Oversee the Worker carrying out the following tasks (including some delegated Treasurer duties from Rule 50):
    1. collecting payments at the office and banking them;
    2. paying invoices and raising cheques according to the Co-op’s financial procedures;
    3. keeping records as required by the Co-op’s financial procedures, including cashbooks and bank reconciliations;
    4. administering the petty cash; and
    5. assisting with audit. 

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