Duties of the Club Treasurer

Last updated: March 22, 2021
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Treasurer skills and general duties

The treasurer should be detail oriented, have strong math skills and do his/her best to see

these actions are done properly so that there are no doubts about his/her integrity:

  • Control the club’s money, its collection and disbursement.
  • Transact all business through a bank or school account. Many schools do not allow clubs
  • to keep independent checking or savings accounts. It does not matter who writes the
  • checks—school officials or the Key Club treasurer. What does matter, though, is that the
  • treasurer be responsible for keeping accurate books that will enable him/her to give a
  • full financial report whenever requested.
  • Reconcile bank statements.
  • Record all expenditures and income for the week.
  • Deposit club funds.
  • Collect all monies from club projects.

Understand adults’ roles when dealing with club finances

  • It should be noted that the treasurer’s records always should be open to inspection by
  • the club’s officers, faculty advisor, principal and Kiwanis advisor.
  • Get advice from your advisor on all financial matters.
  • Understand school or administration and club policies regarding student financial
  • accounts relating to school organizations.

Coordinate dues collection and payment

  • Collect member dues.
  • In coordination with the faculty advisor and club secretary, update the membership
  • roster at www.keyclub.org and forward monies, dues invoice and membership form to
  • the Key Club International office. Early Bird is due by November 1 and dues deadline is
  • December 1.
  • Bill members for unpaid dues.
  • Collect dues from new members and forward them to the International Office.

Meeting attendance and duties

  • Inform the club and Kiwanis sponsor of financial strengths and weaknesses
  • Prepare a financial report for the board of directors meeting.
  • Attend all meetings within the club and the club officer-training conferences with the
  • lieutenant governor.

Disburse funds

  • If your school policy permits your club to have its own checking or savings account, it is
  • strongly advised that two (2) signatures be required on each check. Your faculty or
  • Kiwanis advisor should co-sign with the Key Club treasurer or president.
  • Disburse funds and pay bills promptly as approved by the board of directors.
  • Pay all bills as approved by the board of directors.

Prepare and review the budget

  • Prepare the budget and present it to the board for approval.
  • The budget should be the regulating factor for the club’s activities. The budget is a
  • statement of the organization’s planned expenditures and income based on the
  • approval and commitment of the club.
  • The club must commit to raising the necessary income, for without the budgeted
  • income, the club cannot spend as it had planned without incurring a deficit. Thus, when
  • total expected income is not achieved, total expenditures must be cut.

Manage club accounts

  • Key Club International is a nonprofit organization, receiving much of its receipts from the
  • general public. Therefore, the law requires that two separate accounts for receipts and
  • expenditures be maintained. These accounts are the service account and the
  • administrative account.
  • Service account: All monies collected from the general public must be returned to the
  • general public. Such money can’t be used for club administrative costs, such as printing,
  • conventions and conferences and travel to events other than service projects.
  • Administrative accounts: The administrative account is the operating account for the club.
  • It is used for those monies to be spent on club administration and/or members. Monies
  • coming from the administrative account are collected from dues, Kiwanis-family members
  • and school subsidies. Monies in this account may be used to buy supplies, purchase
  • advertising, send members to conventions and conferences, etc.
  • Funds in the administrative account can be transferred to the service account. However, no
  • funds from the service account may be transferred to the administrative account.
  • It is helpful in bookkeeping and auditing to note on each receipt into which account the
  • money was deposited. Likewise, all checks should note from which account and line item, if
  • appropriate, the money was drawn.

Maintain accurate financial records

  • Keep an account of all transactions as they are made. A simple method to use is the
  • general journal, containing three columns: income, expenses and balance. Log in each
  • transaction when it occurs, specify the date and a simple description, list it properly
  • under income or expense and record the balance. It is recommended that the club
  • purchase a general ledger for the club treasurer.
  • When disbursing money, always obtain a receipt as evidence of payment. Use a check
  • rather than cash whenever possible. This will provide you with an additional receipt.
  • When reimbursing a club member for expenses, require him or her to complete an expense voucher and attach a copy of the receipt to receive reimbursement.

Additional duties

  • File appropriate forms with the Internal Revenue Service (for U.S. clubs only).
  • Send district convention registration fees to proper place and send Key Club
  • International convention registration fees to appropriate address.
  • Work with the treasurer-elect and help him/her prepare to take over your job next year
  • and receive all financial records, receipts, files and training from immediate past treasurer.
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