The Treasurer is responsible for:
Setting up an account in the Society’s name, with two signatures required on all withdrawals in excess of £1000. A list of at least four signatories (the Treasurer and three members of the Executive Committee) is to be authorised annually, or following resignation of any of them from the Committee
Preparing and monitoring detailed financial operating procedures which meet current external requirements for the Society and Houses and reporting thereon annually to the Executive Committee
Implementing any recommendations of the Society’s auditors
Keeping cash books detailing all receipts and payments into or from the Society’s Executive funds
Paying interest and capital repayments as may be required on all the Society’s borrowings
Advising the Executive Committee on financial and other risks, and the statutory and other prudent insurance requirements, negotiating and paying premiums as may be decided
Paying the Abbeyfield membership fee
Making stage payments as may be agreed on all new projects for construction, conversion and improvement of Houses with a total estimated cost over £1,000
Paying costs for equipment for new or converted Houses, and providing an initial cash float for new Houses
Working with House Treasurers to ensure correct payment and recording of all wages and salaries and associated tax and NI contributions
Drawing down loans and mortgages as may be required to meet schedule payments
Receiving and recording all Gift Aid, covenants and other money donations and applying to the Inland Revenue for the associated tax rebates. Allocating such gifts and donations if named, to the account of a specific House or to the Society’s account. On receipt, to advise the members and the Society Chairman will write acknowledging receipt and of thanks.
Assisting the Society Chairman and Administrator with completing the annual Business and Strategic Plan with the Annual Review for approval by the Executive Committee.
Advise on the use of the Risk Self Assessment (Proc 5.9).
Paying the Trustees and the administrative staff for agreed ‘out of pocket’ expense
Ensuring the regular and on- going control and correct use of the Housekeepers’ debit and prepaid credit cards for monthly food costs within the cash amounts allocated.
Guidance on the duties of the Treasure Abbeyfield South West Society Ltd
To be read in conjunction with the Job Description
- Attend quarterly Executive Committee meetings at one of the houses
- Attend briefing meeting with Chairman and Administrator usually two days ahead of above
- Prepare quarterly and year to date cash movements statement for each house and central costs including budget variances
- Submit a written report re 3 above and any financial issues
- Pay Trustee attendance expenses
- Reconcile monthly payroll with payments made
- Liaise with payroll bureau to reconcile any differences, usual cash advances
- Prepare, sign and despatch to Administrator cheque for HMRC
- Sign annual declaration to HMRC re deductions and benefits
- Check monthly payment to NEST and regularly read e-mails on NEST site
- Prepare schedules for annual pay review and advise on National Minimum Wage etc.
- Advise payroll bureau of pay increases
- Contact Lloyds bank re. upper payroll payment limit
- Prepare and send cheque to payroll bureau
- Make transfers when staff work at different houses
- Liaise with payroll bureau and answer questions from houses etc.
- Request budget information from each house
- Calculate payroll costs, residents fees, central costs etc.
- Prepare budget from information and discuss with Chairman
- Present draft budget to Trustees.
- Finalise budget after amendments.
- Analyse budget costs over each quarter.
- Record budget on cash movements statement.
- Prepare schedules of suggested charges in line with limits imposed.
- Discuss proposals with Trustees and finalise charges
- Advise each house of charges.
- Prepare calculations for each room of breakdown of charges between pure rent, eligible and ineligible charges.
- Provide each house with 4 above and provide information to local authorities.
- Record housing benefit received and provide relevant houses with calculation of reduced amounts due.
- Advise houses when charges not paid, incorrectly paid or refunds needed.
COIF Deposit Account
- Make transfers when required.
- Contact them every quarter for interest details.
- Change Mandates when required.
CAF Bank Accounts.
- Check transactions via internet banking.
- Make cheque payments for central costs.
- Record all transactions including direct debits.
- Occasional bankings
- Change Mandates and instructions when required.
- Reconcile the accounts each month.
- Record residents’ fees from bank statements.
- Record payments as supplied by each house.
- Chase missing items with “House Treasurers”.
- Change monthly standing orders to house keepers to reflect number of residents.
- Record payments by Administrator, Treasurer and central costs e.g. bank charges.
- Reconcile bank account each month.
- Change Mandate and instructions when required.
- Make transfers to CAF bank account.
- Allocate costs to respective houses in respect of joint costs e.g. Advertising
- Prepare summary cash sheets for each house to reflect the above.
- Occasional bankings
- Record monthly payments.
- Act as primary point of contact.
- Arrange redemptions .
- Amend direct debit payments when required.
- Lodge deeds with solicitors post redemption.
- Contact at year end for balances.
- Act as primary contact with broker.
- Deal with VAT issues arising.
- Agree and sign supply contracts.
- Submit annual Return to HMRC of interest paid.
- Deal with VAT issues in respect of advertising and disability supplies.
- Prepare and type draft annual accounts and present to auditors.
- Calculate debtors, prepayments, creditors and accruals.
- Request cash balances from “House Treasurers”.
- Summarise comfort funds
- Calculate depreciation and prepare schedules of property and fixtures for each house.
- Prepare journals and extended trial balance.
- Produce detailed accounts file for audit.
- Deliver and collect records from Auditors.
- Answers queries from Auditors.
- Circulate draft accounts to Trustees for comment.
11.Organise signing of accounts and return to Auditors.
12 Distribution of accounts including to Mortgagers.
13 Deal with any other financial issue that may arise.
IT eqpt and mobile phone will be provided as necessary.
Annual leave is pro rata of 28 days and mileage is 45p per mile
Looking to interview on 2 February 2022 in Torquay with handover in March and to assume role wef 1 April 2022
For further information or to express interest, please get in touch with the Employment & Education team via this email address or on 023 9298 1920.
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