Board Officer - Treasurer

Duties of the SAILS Board Treasurer 

The SAILS board treasurer is an officer of the board of directors. It's essential because the board entrusts the treasurer to manage public funds. The position demands excellent trust and integrity. Treasurers must prepare financial reports that are clear, accurate, and timely, which helps to earn public confidence in the organization.

While many treasurer's duties involve accounting and banking, an influential nonprofit treasurer always considers how the organization's finances connect with the overall mission. A treasurer is the lead board director of financial management and oversight. The treasurer facilitates and encourages the board's strategic thinking about the organization's short- and long-term financial vitality concerning the advancement of its mission. More specifically, the board treasurer's role includes, but is not limited to:

Financial management and oversight 

• Manages or oversees the management of the organization's financial affairs, including such basic tasks as selecting a bank, reconciling bank statements, and managing cash flow.
• Invests funds consistent with applicable laws.
• Stays informed about who can access the organization's funds and any outstanding bills or debts owed.
• Creates and maintains systems for ensuring the organization's ongoing solvency and oversees the development of the organization's financial policies.
• Establishes policies such as check signing authority, expense reimbursement, credit card usage, and petty cash policies.
• Enforces the policies and controls established.

Budgets 

• Works with the CEO and SAILS Accountant to prepare or facilitate the preparation of an annual budget and regularly monitors and compares the actual revenues and expenses incurred against such a budget.
• Although the board reviews and approves the budget, the treasurer prepares to explain and justify the document.

Reports 

• Maintains thorough knowledge and understanding of the organization's financial reports and important financial ratios.
• Keeps the board apprised of key financial events, trends, and concerns and assesses the organization's fiscal health.
• Works with SAILS Accountant to complete or ensure the completion of required financial reporting forms (including the IRS Form 990) in a timely manner, making these forms available for the board's review.

Financial Liaison 

• Translates financial concepts and information for board members who do not have finance backgrounds or substantial financial experience.
• Spends time learning the particulars of the organization's finances and the applicable laws, including laws related to earned income, unrelated business income tax, appropriate expenditures, and prudent investments.

Qualifications

Experience

• Prior experience in accounting/bookkeeping, preferably in a nonprofit.
• Thorough understanding of the principals of nonprofit finance.
• Experience with QuickBooks cloud-based accounting software.
• Knowledge of the practices and procedures used in nonprofit accounting, including Generally Accepted Account Principles (GAAP)

Skills

• Valuable time management and prioritization skills
• Excellent organizational skills regarding documentation and file or record-keeping
• Strong verbal and visual financial reporting skills
• Ability to communicate complex financial information
• Strong analytical and organizational skills
• Solid understanding of budget planning and finance
• Substantial value for ethics and trustworthy operations

Time Commitment

• Two Year Term (24 months)
• Attend Board Meetings once a quarter (2 hrs)
• 10-12 hours per month (board meetings, work sessions, special projects, prep, learning/advocacy/events)
• Annual Board Retreat in October- 7 hours

Other Requirements

• Committed to serving the community with a minimum of one-year previous community service experience.
• “Give or Get Policy:” Committed to making a personal donation or raising a minimum of $500 annually.
• Fundraise and generate funding opportunities;
• Serve in an advisory capacity;
• Commit to the Mission of the organization;
• Provide input into the strategic planning process;
• Represent the agency to constituents while promoting and publicizing the organization;
• Share relationships and secure in-kind resources to support the vision of the organization;
• Maintain confidentiality related to organization business and intellectual ideas; and
• Be prepared and willing to work towards expanding our visibility in the community.