The Treasury of an association plays a vital role in managing the financial health and sustainability of the organization. Headed by the Treasurer, this department is responsible for overseeing all monetary transactions, maintaining accurate financial records, preparing budgets, and ensuring transparency in fund utilization.

The key responsibilities of the treasury typically include:

• Budget Preparation & Financial Planning: Drafting annual budgets in alignment with the association’s goals and approved activities.

• Revenue Management: Handling income sources such as membership fees, donations, grants, event revenues, and other contributions.

• Expense Oversight: Monitoring day-to-day operational expenses and ensuring that spending aligns with the approved budget.

• Financial Reporting: Preparing periodic financial statements and reports for the Executive Committee and general members.

• Audit & Compliance: Coordinating internal and external audits, and ensuring compliance with relevant financial regulations and statutory requirements.

• Banking Operations: Managing association bank accounts, investments, and financial instruments for optimal fund utilization.

The Treasurer often works closely with other office bearers and committees to maintain transparency and uphold the financial integrity of the association. A well-managed treasury builds trust among members and supports the long-term objectives of the organization.