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The City of Winchester Trust Ltd

INFORMATION PACK FOR
TRUST COUNCIL MEMBERS



10 HONORARY TREASURER'S JOB DESCRIPTION



The role of the Honorary Treasurer is to:


- Ensure that the Trust maintains proper financial records and to prepare the annual accounts for inspection by the independent examiner and approval by the Trust;


- Make sure that the Trust has effective financial controls in place;


- That policies for finance and investment are drawn up and reviewed regularly by the Finance and Resources Committee;


- Supervise, together with another member of the Council, the Trustís investments in consultation with the Trustís appointed investment managers;


- Oversee the role of the Secretary in carrying out day to day finance functions.


The key accountabilities of the Honorary Treasurer are to:


- Manage the finances of the Trust in accordance with charity and company law and in furtherance of the Trustís objectives, as set out in the governing document;


- Chair the Finance and Resources Committee and prepare and distribute written papers to the members of the Committee to support the Committee in discharging its functions, including drafts of the annual budget, half-yearly financial report and annual accounts;


- Advise the Finance And Resources Committee, together with another member of the Council, on matters relating to the Trustís investments, in furtherance of the Committeeís delegated responsibility for making investment decisions;


- Provide regular updates to the Council on the Trustís financial position;


- Keep under review the the Trustís policies for its designated funds;


- Ensure that the Trustís financial outgoings are authorised either in the approved budget or in a subsequent decision made by Council;


- Assess and advise the Council of the financial implications and options for all projects and actions proposed by the Council;


- Be responsible for the opening, closing and supervision of bank accounts to reflect the changing needs of the Trust;


- Ensure that monies collected by agents of the Trust are banked correctly and promptly and that withdrawals from the Trustís bank accounts are correctly authorised;


- Produce annual accounts in accordance with legislative requirements to a timescale to enable the Finance and Resources Committee and Council to approve them for submission to the Annual General Meeting;


- Maintain accounting records in accordance with company legislation and provide appropriate working papers and other supporting documentation to the Trustís Examining Accountants;


- Present the annual accounts to the Annual General Meeting;


- Ensure that annual returns are submitted to the Companies Registrar and Charity Commission;


- Ensure that the Trustís property and liabilities are properly insured;


- Ensure that a risk assessment process is in place in accordance with the Trustís Risk policy and co-ordinate the process with the support of other Council members;


- Arrange for the recovery of any tax paid on investment income from Her Majestyís Revenue and Customs (HMRC);


- Liaise with the Membership Secretary to ensure that claims are submitted to HMRC for Gift Aid due on subscriptions;


- Oversee the Secretaryís operation of the PAYE scheme;


NB This excludes the references to the management of the Trustís property included in the current job description on the basis that these responsibilities are not integral to the role of the Hon Treasurer and could be carried out by another trustee.



[Revised March 2016]