ASNT Policy

Policy J-04.05

Issued: 01 Jul 2022


1.0 Purpose

This policy describes the duties and responsibilities of the Treasurer.

2.0 Scope

This policy applies to the Treasurer.

3.0 References

3.1 ASNT Bylaws

3.2 Policy J-05.1 Executive Committee

3.3 Policy J-05.10 Business and Finance Committee

3.4 Policy F-01 Finance Policy

3.5 Policy F-02 Investment Policy

3.6 Policy F-10 Reserves Policy

3.7 Policy F-12 Risk Management

4.0 Eligibility and Appointment

4.1 To be eligible to serve as Treasurer, the appointee shall be a staff or volunteer member of the Society who is knowledgeable about standard non-profit financial, accounting, risk, investment, and reserves management practices.

4.2 The Chair shall nominate and the Board of Directors shall appoint the Treasurer at any time and for such duration as the Board determines.

5.0 Duties

The Treasurer is an officer of the corporation who oversees all matters related to ASNT’s finances, property, and budget. Their duties include, but are not limited to:

5.1 Ensures compliance with all laws, regulations, and policies pertaining to financial management.

5.2 Ensures there are effective systems and controls for accounting, financial planning and reporting, and asset management.

5.3 Ensures finance-related policies are coordinated, established, maintained, and enforced.

5.4 With the Secretary, ensures there is an effective risk management program.

5.5 Ensures investments and reserves are effectively managed in accordance with policy.

5.6 Ensures the Officers and Directors fully understand the Society’s financial condition through timely and accurate financial reporting and analysis.

5.7 Ensures members are provided financial summaries at the Annual Business Meeting, and audited financial statements are provided upon request.

5.8 Ensures financial planning is conducted in accordance with policy, including preparing budgets and plans.

5.9 Ensures financial resources are effectively planned, allocated, and utilized to achieve the Society’s strategic goals and objectives.

5.10 Ensures management effectively supports the Audit Committee in the annual audit process, including providing timely and accurate information, coordinating exchanges with the external auditor, and other support as the committee requests.

6.0 Committee Membership

The Treasurer shall be an ex officio member of the Executive Committee and the Business and Finance Committee, and other committees as assigned by the Board of Directors. If the Treasurer is not a Director, they shall serve as a non-voting member of these committees.

7.0 Reporting Requirements

The Treasurer shall ensure all financial reporting is completed in accordance with policy.