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Being a society treasurer - Society bank account, how does it work? Watch

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    I have recently been given the role of treasurer for my university society im confused how it all works. I originally assumed it was just being in charge of the money box but now im being told will be in charge of the bank account.How does this work? They said it is still in the name of the commitee from a few years ago which confuses me. I'm going into my third year so graduate next year and don't want to be tied to the account when i graduate and the next comitee take over?

    Can someone please explain to me how it works and if i would be liable/connected to the bank account after i graduate as really particular about banking. Wouldnt even agree to our flat having a joint account for bills
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    You wil be responsible for its running for the time you are treasurer. When you finish this year maye sure you habd over responsibility accoriding to the SU guidelines, maybe the next treasurer or committee. If you make payments, then ensure its signed by at least two board/ committe members. Keep a record/ accounts of transactions. You will be fine then.

    If youve run it properly and left it in good order plus transferred it correctly then you will be fine.
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    (Original post by 999tigger)
    You wil be responsible for its running for the time you are treasurer. When you finish this year maye sure you habd over responsibility accoriding to the SU guidelines, maybe the next treasurer or committee. If you make payments, then ensure its signed by at least two board/ committe members. Keep a record/ accounts of transactions. You will be fine then.

    If youve run it properly and left it in good order plus transferred it correctly then you will be fine.
    Ok thank you. Guess i'm just a little nervous haha. Hopefully will be fine
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    If you are covering your back just make sure payments are duly authorised, you keep records and you hand over responsibility in good order. Youll be fine. You might find you have very little money so keep the committee aware of what the state of finances are.
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    (Original post by 999tigger)
    If you are covering your back just make sure payments are duly authorised, you keep records and you hand over responsibility in good order. Youll be fine. You might find you have very little money so keep the committee aware of what the state of finances are.
    Do you know what will happen when i graduate. Will it be easy to transfer responsibility to the next comitee and cut all ties i have with the account.I only ask this as the current president said the account is still in the name of the commitee two years ago and they are having problems trying to get it transfered over, which i thought was odd as i assumed account would be in societies name and not individual members? (Sorry for the questions, you are being really helpful )
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    (Original post by ~ Aquamarine ~)
    Do you know what will happen when i graduate. Will it be easy to transfer responsibility to the next comitee and cut all ties i have with the account.I only ask this as the current president said the account is still in the name of the commitee two years ago and they are having problems trying to get it transfered over, which i thought was odd as i assumed account would be in societies name and not individual members? (Sorry for the questions, you are being really helpful )
    Presumably you pass a resoluion to hand it over to the next treasurer, just as they are handing it over to you.Its in the m=name of other people becayse they have managed it improperly and not trasnferred it over as they should.O think it will b fine,.talk to the bank and if they have an issue take it to the su and whoever makes payment to the societies. They should be used to dealing with issues like this. A letter from them showing you were duly elected and maybe tracing it back ot others should satisfy the bak. Its those people who messed up and also the people who took over.
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    basically it's just something to dip into when your loan's run out

    seriously though, I wouldn't worry about it, any uni society isn't going to deal with significant sums of money and there is really very little which can go wrong, especially if the account doesn't have an overdraft/other credit facility (which would be wise)
 
 
 
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