Treasurer

InA new way to pay the National Debt(1786),James GillraycaricaturedQueen CharlotteandKing George IIIawash with treasury funds to cover royal debts, withPitthanding them another moneybag.

Atreasureris a person responsible for the financial operations of a government, business, or other organization.

Government[edit]

Thetreasuryof a country is the department responsible for the country'seconomy,financeandrevenue.The treasurer is generally the head of the treasury, although, in some countries (such as the United Kingdom or the United States) the treasury reports to aSecretary of the TreasuryorChancellor of the Exchequer.^{[citation needed]}

InAustralia,theTreasureris a seniorministerand usually the second or third most important member of thegovernmentafter thePrime MinisterandDeputy Prime Minister.Each Australian state and self-governing territory also has its owntreasurer.^{[citation needed]}

From 1867 to 1993,Ontario's Minister of Financewas called the Treasurer of Ontario.^{[citation needed]}

Originally the word referred to the person in charge of thetreasureof anoble;however, it has now moved into wider use. In England during the 17th century, a position ofLord High Treasurerwas used on several occasions as the third great officer ofthe Crown.Now the titleFirst Lord of the Treasuryis the official title of the BritishPrime Minister.^{[citation needed]}

Corporate treasurers[edit]

In corporations, the Treasurer is the head of the corporate treasury department. They are typically responsible for: liquidity riskmanagement; cash management; issuingdebt,andcapital structuremore generally (includingshare issuanceandrepurchase); managing intercompany transactions denominated in foreign currencies,interest rate risk hedging,andcurrency analytics; securitizations; oversight of pensioninvestment management. They also typically advise the corporation on matters relating tocorporate finance.They could also have oversight of other areas, such as the purchase ofinsurance.^{[citation needed]}

In the Inns of Court[edit]

In theInns of Court,the professional associations forbarristers in England and Wales,thebencherormaster of the benchwho heads the inn for that year holds the title 'master treasurer'.^{[citation needed]}

This title is similarly used by other legal associations sharing a British heritage, such as theLaw Society of Upper Canada.^{[citation needed]}

Volunteer organizations[edit]

Many volunteer organizations, particularlynot-for-profitorganizations such ascharitiesandtheaters,appoint treasurers who are responsible for conservation of the treasury, whether this be through pricing of a product, organizingsponsorship,or arranging fundraising events.^{[citation needed]}

The treasurer would also be part of the group which would oversee how the money is spent, either directly dictating expenditure or authorizing it as required. It is their responsibility to ensure that the organization has enough money to carry out their stated aims and objectives, and that they do not overspend, or under spend. They also report to the board meetings and/or to the general membership the financial status of the organization to ensure checks and balances.^[1]Accurate records and supporting documentation must be kept to a reasonable level of detail that provides a clear audit trail for all transactions.^[2]

References[edit]

^Robert, Henry M.; et al. (2011).Robert's Rules of OrderNewly Revised(11th ed.). Philadelphia, PA: Da Capo Press. pp. 461, 477–480.ISBN 978-0-306-82020-5.
^Robert III, Henry M.; et al. (2011).Robert's Rules of Order Newly Revised In Brief(2nd ed.). Philadelphia, PA: Da Capo Press. pp. 153–155.ISBN 978-0-306-82019-9.

External links[edit]

[1] Robert, Henry M.; et al. (2011).Robert's Rules of OrderNewly Revised(11th ed.). Philadelphia, PA: Da Capo Press. pp. 461, 477–480.ISBN 978-0-306-82020-5.

[2] Robert III, Henry M.; et al. (2011).Robert's Rules of Order Newly Revised In Brief(2nd ed.). Philadelphia, PA: Da Capo Press. pp. 153–155.ISBN 978-0-306-82019-9.

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