For many institutions, this is the time of year when you have a change in committee members. Some retire and new members are elected. It often involves the changeover of office bearers, too. For the outgoing treasurer, you will need to have the books audited and prepared for the new treasurer to take over.
The books
• Clearly record all outstanding invoices to be paid
• Clearly record any monies still owed to the organisation
• Finalise as many accounts as possible
• Reconcile the books
• Book an auditor to audit your records
At The AGM
• Present your report
• Present the auditor’s findings
After the AGM
• Meet with the new treasurer
• Make sure that your bookwork and papers are complete prior to handover
• Include the auditor’s report
• Arrange for change of signatories at the bank
• Familiarise the new treasurer with your filing and recording systems
• Together with the new treasurer, complete your final BAS report
This is a simple list of the things most committees will need to do. If yours is a large organisation, the process will be more detailed but the principles still hold true.
We have a more detailed guide (cheat sheet) that takes you step by step through the handover process. It was prepared in conjunction with Canberra Preschool Society Inc. If this is your first handover, print out a copy and it will help keep you on track.
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