Maritime Conservatory of Performing Arts (Board Treasurer)

Maritime Conservatory of Performing Arts Board Treasurer   Job Description   Accountability The board treasurer is an executive and voting member of the board of directors of the Conservatory and appointed in a manner consistent with the bylaws. He/she is accountable to the Board for the fulfillment of the duties and responsibilities outlined below. Authority The treasurer, as with other board members, has no authority to direct staff or take independent action on matters outside of the duties outlined unless given such authority by the Board. Time Commitment A minimum of 2.5 hours per month (board meetings, meetings with the Director, committee meetings).   Term of Office Two years with a maximum of three terms. Roles and Responsibilities The treasurer will offer guidance to the Director and financial staff in ensuring good fiscal planning, decision-making and oversight at a governance level. His/her principle duties are to: Oversee the development of high level financial policies and their review by the board. Assist in the preparation of the annual budget and its presentation to the board for review. Ensure that the appropriate monthly or quarterly financial statements are reviewed by the board. Ensure that the board regularly monitors the organization’s financial performance and alerts it to any important discrepancies between planned and actual figures. Ensure that the organization maintains the appropriate financial books and records and that these are accurate and up-to-date. Ensure that government tax filings and remittances are submitted on a timely basis. Ensure that payroll and other liabilities are settled in a timely manner. Ensure that excess funds and reserves are properly held and invested. Verify that donations are handled appropriately and that grants and service delivery contracts are accounted for in accordance with the requirements of funders. Meet with the external auditor annually, or more often if needed, to identify any financial control and record keeping problems or deficiencies and oversee action by the Director and / or financial staff to address them. Recommend to the board the need for a review or renewal of the auditing services provided. Assists the Director and board chair with the development and presentation of the annual report. Present or co-present the organization’s financial report and recommend appointment or reappointment of auditor at the Annual General Meeting. Helps, along with the Director, keep the board informed of important financial events, trends, and issues relevant to the organization. Willingness to assist in revenue generation activities at an appropriate level of engagement and to set an example by donating financially to the organization. Committee Membership The treasurer is automatically a member of the Executive Committee, and may chair the following committees when and where such are necessary: Finance Committee Budget Development Committee Qualifications Commitment to the organization’s mission and strategic directions. An understanding of, and experience with, good financial management and reporting practices. A professional accounting designation may be required. An appreciation of the kind and level of financial information needed at a board level to support decision making An ability to commit the time required to fulfill the responsibilities described.