Treasurer’s Detailed Instructions

Introduction

It is the responsibility of the Treasurer to maintain accurate Church financial records as set out by the Diocese of Toronto. This includes the issuing of all cheques, and reconciling the monthly bank statement with those cheques as well as the deposits made which are reflected on the transmittals.

Weekly Responsibilities:

Collects from his mailbox at the church the following:

the transmittals from all services for the past week. If the deposit includes the Healing Service & the Sunday Service, the transmittals should indicate this so that you can reconcile with the bank statement.
any “Donation in Kind” forms submitted by the Envelope Secretary to be entered in the computer.
invoices for all bills to be paid - should be accompanied by a “payment voucher”
any invoices / bills from the previous week which are being returned to you signed by the Warden indicating they have been paid.

Writes cheques for bills, salaries etc. to paid - which are accompanied by the actual invoice and payment voucher. The number of the cheque and date it was written should be on the invoice & voucher. These are to be given to the Wardens, or placed in the Warden’s mailbox. If possible, include the envelope addressed for mailing. The Warden will then sign the payment voucher and the bill indicating that the cheque has been received, signed and delivered. The payment voucher remains in the church for future reference, and the invoice / bill is returned to the Treasurer, either being placed into his mailbox, or in person. The Wardens should never take these invoices home - all signing should be done in the church.
All payments of cheques must be accompanies by some sort of paper work. Commitments by the church for travel allowances, Mission payments etc. will not have an “invoice”, so the Treasurer must include some type of payment sheet for the Warden to sign.
Enters the information from the transmittal into the program on the computer, as well as any cheques which have been issued. At present we use a code system which designates categories for all income and expenses, and entries must be made accurately. If the Treasurer is unsure of the proper code, he must ask the Wardens for it. Ideally, the code should be written on the invoice / bill by the Warden before giving it to the Treasurer.
Most of the income to the Church is listed on the transmittal. An exception to this is reimbursement for a NSF cheque given by a parishioner, since it has already been counted on a previous transmittal. If you receive any NSF cheques issued by parishioners from the bank, notify the Wardens immediately as it is their job to follow it up. The Wardens must inform the Treasurer if and when the cheque is honoured.

Monthly Responsibilities:

Reconciles the bank statement with all income and expenses. If any discrepancies are noted, then the Wardens must be notified immediately.
Prepares a list of cheques not cashed so that the Wardens can follow it up.
A payment schedule should be set up for issuing cheques for commitments made by the church ie: travel allowances, Mission payments ie: Interserve, SAMS Canada, etc. It would also be advisable to have a list of when payments are usually made. For example, property taxes for the Rectory are made several times a year, but not necessarily each month, FaithWorks is paid quarterly, and our Insurance is paid monthly or quarterly. All efforts must be made to minimize late payment charges.
Prepares a “Budget Report” and “Itemized Categories Report” for the previous month to present to the monthly Advisory Board Meeting. If any changes are to be made to the categories, or discrepancies noted, then these should be adjusted as soon as possible to keep records accurate. In the summer months when there is no Advisory Board Meeting, these reports should still be given to the Wardens.
Reconcile with Envelope Secretary re: income eligible for tax receipts.
Attends the monthly Advisory Board Meeting.
Keeps folders with all monthly income and expense information, receipts etc. for easy access.

Annual Responsibilities:

Assists the Wardens with preparation of the Annual Financial Statement and Budget for the next year at their request. They will need an up-to-date “Itemized Categories Report” for this.
The Treasurer is responsible for preparing the page listing the “Assets, Liabilities and Accumulated Surplus” for the Annual Report. This is part of the Financial information need in the Annual Report. As well, the breakdown of salaries is needed, however the Wardens usually do this. See previous Reports for examples.
In January, issue any cheques with are backdated to December so that the books can be closed. Examples are: FaithWorks, donation to Ingalls House etc. He should be aware what payments will be so that he can get the figures from the Wardens within the first few days of January.
Submit the books for audit. This should be done no later than the middle of January.
Attend the annual Vestry Meeting in late January / early February and assist the Wardens with any questions regarding finances.
Remember to enter into the computer program the Budget figures for the new year.
Prepare the annual Tax Return for Charitable Organizations and give to the Wardens to sign
Prepare the annual GST Receivable form, and submit to the government

General Notes:

It is important that the Treasurer remain in close communication with the Wardens regarding any financial matters, as well as the Envelope Secretary regarding monthly reconciliation of her records.
Ideally, the Treasurer should be notified in advance of any cheques to be written, so that he can prepare them before coming to Church on Sunday.
Except for the rare instance, no cheques should be written without or before getting receipts. The petty cash for the Youth Pastor, Incumbent and Property Chairperson is to be replaced only after they have submitted their receipts to the Wardens, who will approve them and pass them on to the Treasurer. The Incumbent’s accounting will not be as accurate as his is a “discretionary fund”, however he should make some accounting ie: gave someone $10.00 for gas, paid for parking etc.
It is the Treasurer’s responsibility to order cheques when needed.
If the Treasurer goes on vacation for a short while, he can write post-dated cheques for travel allowances, property tax etc. and give them to the Wardens to issue at the appropriate time. Bills usually have a grace period.
The Treasurer should have on file a fee schedule issued by the Diocese of amounts paid to visiting clergy, as well as the current mileage expense. The Wardens should let you know in advance when you need to provide a cheque for visiting clergy.
Guest speakers are sometimes paid, and will require a cheque. (Payment for speakers is entered under code 421 Lay Ministry Development (Adult).)
The Treasurer, as well as the Wardens, should have copies of any GIC’s that the church has. There should be a notation made if any are designated for a specific purpose. These should be cashed or rolled over in consultation with the Wardens.
It is the Treasurer’s responsibility to notify the Wardens if there is not enough money in the account to write cheques.

Revised June 11, 2003