Volunteer Board Treasurer - Toronto Beach Chorale

Volunteer Board Treasurer – Toronto Beach Chorale

Summary

The Toronto Beach Chorale treasurer helps the TBC board prepare annual plans and budgets, prepares financial reports for board meetings and the AGM, does monthly reconciliations, prepares, signs and distributes cheques for site rentals, equipment, score rentals, musicians etc., and participates in board meetings via Zoom.

Description

Toronto Beach Chorale is seeking dynamic individuals with accounting experience in arts administration. Our innovative and inclusive team looks forward to welcoming you as a member of our board of directors as we continue to bring the choral arts to the communities of Toronto.

Board Treasurer
As a member of the Toronto Beach Chorale board, you help ensure that the organization continues to offer classical choral music at the highest possible level of performance excellence to audiences in the City of Toronto.

Mission Statement:

• To share the joy and love of music with the audiences of our communities through classical choral music and to encourage our members in their development of musical excellence.

Vision:

• To be a choir of artistic excellence.

Role of the Board of Directors:
The role of the board is to ensure that Toronto Beach Chorale achieves its mission in an ethical way through linkages between the organization and its community. In addition, the board has the overall responsibility for the financial stewardship and viability of Toronto Beach Chorale and must ensure that it raises appropriate funding to meet the overall objectives.

Accountability
The board Treasurer is an executive and voting member of the board of directors 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 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
Ten hours per month.

Term of Office
Two years with the possibility of renewal for a second term.

Roles and Responsibilities

• The treasurer will offer guidance to the board members in ensuring good fiscal planning, decision-making and oversight at a governance level.
• His/her principal duties are to:
• 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.
• Serve as a co-signer of cheques with at least one other signing officer.
• Ensure that excess funds and reserves are properly held.
• 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 as needed, to identify any financial control and record keeping problems or deficiencies and oversee action by the Directors to address them.
• Recommend to the board the need for a review or renewal of the auditing services provided as required.
• Assist the President 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.
• Record all financial transactions in accounting system (QuickBooks).
• Conduct the monthly bank reconciliations.
• Print/produce cheques as required.

Qualifications

• Commitment to the organization’s mission and strategic directions.
• An understanding of, and experience with, good financial management and reporting practices.
• Accounting experience is an asset.
• 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.