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Treasurer Position – MIALS

Position Overview

The Treasurer is responsible for the financial oversight and management of MIALS, ensuring fiscal accountability, compliance with policies and procedures, and the safeguarding of the organization’s financial assets. This role includes the supervision of the MIALS bookkeeper and the management of all aspects of the organization’s insurance.

General Responsibilities

  • Provide leadership and oversight of all financial activities, including budgeting, financial reporting, and cash flow management.
  • Supervise the MIALS bookkeeper to ensure accurate and timely financial record-keeping.
  • Oversee all insurance matters, including commercial liability insurance, Directors and Officers insurance, and WorkSafe BC insurance for contractors.

Specific Responsibilities – Financial Management

1. Policy and Procedure Development

  • Establish and enforce financial policies and procedures that regulate and control financial transactions within MIALS.
  • Ensure compliance with established financial guidelines and operating budgets, maintaining strict internal controls to prevent financial mismanagement.

2. Budget and Financial Planning

  • Lead the preparation of the annual operating budget, in collaboration with the Executive Director and relevant stakeholders.
  • Update the budget periodically, as required, to reflect changes in funding or operational needs.
  • Present the budget and financial updates to the Board of Directors for review and approval.

3. Financial Reporting and Oversight

  • Review monthly financial statements and compare actual results with the budget, providing analysis of any variances.
  • Prepare a monthly financial executive summary for the Board of Directors and the Executive Director.
  • Work closely with the Grant Chair and MIALS accountant to oversee the allocation of grant funds and ensure they are properly tracked.

4. Accounting and Reconciliation

  • Liaise with the MIALS accountant to finalize monthly financial statements and resolve any outstanding issues.
  • Manage MIALS bank accounts, term deposit investments, and ensure funds are properly allocated between the business, savings, and gaming accounts as required.
  • Perform monthly reconciliations of all bank accounts using MIALS accounting software, providing an additional layer of financial control.

5. Transaction Management

  • Connect and upload bank transaction data to MIALS accounting software each month. Upload monthly bank e-statements to the MIALS Drive for backup and record-keeping purposes.
  • Manage Accounts Payable and Accounts Receivable, ensuring that all payments are processed on time and overdue receivables are reported to the Administrator or Executive Director.

6. Cash Management

  • Oversee all cash-related activities, including tracking cash receipts, proper coding, and safe storage of cash.
  • Reconcile cash balances on a monthly basis and ensure the timely deposit of cash into MIALS’ Vancity Bank account.
  • Maintain an accurate record of cash movements on the monthly cash worksheet.

Qualifications

  • Proven experience in financial management, accounting, or related field.
  • Strong understanding of budgeting, financial reporting, and cash flow management.
  • Proficiency in accounting software and financial management tools.
  • Ability to manage multiple responsibilities, meet deadlines, and provide timely financial reports.
  • Strong communication skills and the ability to work collaboratively with staff, board members, and external partners.

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