Dear Members,
As you all know the Club cannot function without a Treasurer. We are fortunate
that Robin took on the role of Assistant Treasurer to help take some of the
tasks away.
Nick has kindly prepared an exact "job specification" . As you know, to
reduce this workload we agreed to only present to full valuation once a quarter
and you will see that Robin does a lot of the regular work.
So here are the duties. Nick is not going to take the role on again BUT he has
kindly volunteered to offer the initial train and ongoing guidance need.
We only meet once a month and I think we are looking at no more than 1 hour per
month keeping on top of this.
So we need one member to please step forward and take this on.
Peter
Treasurer’s duties:
Prepare for the monthly meeting. Prepare the list of investments and their
value.Chairmans comment - this is done by Robin
For the quarterly valuation meeting, prepare a list of each member’s holdingA
spreadsheet tracks each member’s share of the portfolio, as long as members pay
their dues regularly (which they all do) and between 1st-5th of the month
(which I think all do, now) it’s an easy task which involves:Typing in the bank
cash balanceChecking the bank cash adds up, compared to last quarterTyping in
the portfolio valueThen copying out the members’ current holding (this is not
automated, but could be)Transfer the bank cash balance to the Selftrade account
to be available for investmentTime required : about 30 mins, quarterly unless
there is a new member, in which case add 15 minutes.
Managing trades and stop losses Depending on the number of trades decided at
the meeting, time taken varies from 0-15 mins, monthly. Chairmans comment -
this is done by Robin
Occasional duty: Manage members withdrawalsThe calculation is part of the
quarterly meeting preparation, in addition a cheque has to be raised and signed
by two people (one is usually the Treasurer)Time required: 15 mins, at least in
January if balances need reducing to the maximum holding, and then whenever
someone wants to make a withdrawal, usually one every year.Chairmans comment:
we get between 1 and 3 such withdrawals a year - nothing onerous.
Annual task: prepare information for tax returnsThis is not automated, but much
of it could be Time required: about 1 hour to find all the information, about
30 minutes to prepare the note for members. Only done once per year.
Annual task: cooperate with the auditorProducing the P&L could be automated,
and would save the auditor this taskAssuming there isn’t a mess, it took less
than 15 minutes the one time I had to do it
