The Treasurer and the committee has responsibility for the financial management of the Setting and the whole committee should be aware of the financial position of the setting. The Treasurer will:
Keep a written record of all receipts, invoices and payments.
Bank cheques and cash received as promptly as possible.
Pay all bills as promptly as possible. This could also be setting up direct debit / standing order payments to service providers with agreement of the committee.
Arrange for the collection of fees and record them.
Receive bank statements monthly and check them against accounting records.
Organise payroll for the staff ensuring proper procedures for Tax, National Insurance, salary records and pensions.
Prepare and present annual accounts to be independently examined before the AGM. To have the audited accounts available to present at the AGM.
Provide a petty cash float for the manager (if necessary).
Take account books to all meetings and report on the latest balance and the general financial position of the setting at each meeting, to ensure continued sustainability.
Highlight any financial concerns to the committee as soon as possible.
Ensure everyone who has incurred expenses through the settings activities is offered reimbursement, including volunteers.
Deal with funding issues regarding children receiving Nursery Education Grant, Early Years Pupil Premium (EYPP) in consultation with the Setting’s manager.
Support fund-raising and provide cash floats for fund-raising events.
Ensure that Public Liability Insurance cover is comprehensive and is paid promptly. Ensure that an up to date copy of the Public Liability Insurance Certificate is displayed within the setting.
Please Note: Some larger Day-care Providers, Early Years Childcare Settings, Out of School Clubs have found it necessary to employ a book-keeper/administrator to help with the financial paperwork; however the Treasurer is still responsible, with the rest of the committee, for the settings finances. This employed book-keeper/administrator would not be a member of the committee.
The Treasurer will be responsible to liaise with the employed bookkeeper/administrator.