Monday, May 12, 2014

Treasurer: Patrick Ng




The role of treasurer is pretty much self-explanatory. It does not require much, just the will to serve the Lord by serving the community.

Having basic accounting knowledge would be beneficial although not a must. Here’s a list of the ‘musts’. The 7 things a treasurer does:

1.         Keeping track of the money.
Record the inflows and outflows of cash somewhere, in a book or excel spreadsheet.

2.         Apply for Grants
When having events or intending to purchase assets, you can apply for funding from UMSU. Documentation may include Safety Food Handling and Sample paperwork to be printed.

3.         Reimburse members who paid on behalf for COSDU.
Most of the time, members use their own money to pay for things such as gifts for speakers or pizza for members. The treasurer has to reimburse them as soon as possible as the amount may sometimes be big and the member might need the money for their own daily expenses. Remember to ALWAYS get the receipt from them before reimbursing

4.         Apply for Payments
Once the receipts are collected, apply for payment from UMSU with all documentation such as Attendance List and Payment Application.

5.         Attend Training by UMSU
There will be trainings held by UMSU in which the treasurer would have to go.

6.         Prepare budgets for upcoming events.
Ensure there are enough funds to carry out the activities. Don’t worry. There usually is. The Good Lord provides. ;)

7.         Prepare Treasurer’s Report
The final duty at the end of the term would be to prepare the Treasurer’s Report for AGM. This report includes Income Statement and Asset List. As COSDU’s annual turnover is usually less than $5000, the club would not likely need an ABN, nor would it need to pay tax as it is a religious club which is tax exempt.

I enjoyed my term as treasurer, and I implore you to gather the courage to take up this position. Remember, the only thing needed is the will to serve and the Lord will show you the way.

God bless you.

Your brother in Christ,

Patrick Ng

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