Service Positions: Treasurer
The Treasurer is responsible for the management and disbursement of any and all funds raised through our 7th Tradition donation webpage.
Requirements
- 2-year service commitment
- 3-years clean-time
- Must be financially stable
Duties
- The Treasurer is a fiduciary position with legal responsibilities.
- “A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties. Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter. In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.” (Wikipedia)
- The Treasurer attends all group business meetings (online) and gives a report of the current finances of the group.
- In order to address the case of financial need or emergency, Nooners keeps a “prudent peserve” of $150.00. A prudent reserve is an amount of money set aside that can be used to meet operational expenses, such as purchasing a yearly Zoom subscription, if contributions should decrease.
- According to the NA Treasurer’s Handbook: “All funds in excess of the prudent reserve (i.e., all money in excess of monthly expenses) should be sent on to other levels of service” Therefore, funds above the prudent reserve are dealt with and disbursed by the Treasurer following the guidance of the group at the monthly meeting.
From the NA Group Booklet
All groups, even those that host more than one meeting, elect one group treasurer. When the group consolidates responsibility for all its funds under a single treasurer, the group makes it easier to account for the contributions it receives and expenses it pays than if it gives a number of individuals responsibility for its money. Groups that host two or more weekly meetings should make arrangements for contributions to be passed to the group treasurer shortly after each meeting.
Because of the added responsibility of handling money associated with service as a group treasurer, it’s important that groups look carefully at those they elect as treasurers.
If the group elects someone who is not capable of handling the responsibilities of the job, then the group is at least partly responsible if money is stolen, supplies aren’t purchased, or funds aren’t properly accounted for. It’s recommended that groups elect treasurers who are financially secure and are good at managing their personal finances. Because of the need to keep consistent records, it’s also strongly recom- mended that groups elect treasurers to serve for a full year.
What do group treasurers do? They count the money that members have contributed at each meeting, always asking another member to confirm their count. They take special care not to confuse the group’s money with their own per- sonal funds. They pay expenses, keep good, simple records, and regularly provide financial reports to their groups. The group treasurer’s job requires close attention to details. To help the treasurer in managing those details, a Treasurer’s Handbook is available from your area committee or from the World Service Office.