OLA Treasurer
Governance Policies and Procedures
Policy Number: G 3.10 | Policy Type: Board Officer's Roles and Accountability | Approval Date: Sept 2025
Introduction
[In conjunction with By-Law 1, Para. 9]
General
The Treasurer position is a two-year term and is responsible for the Association’s funds and securities and shall account to the Executive Committee, the Board of Directors and Members of the Association for all financial transactions of the Association.
The Treasurer shall:
Generally
Manage the board’s review of, and action related to, the board’s financial responsibilities. Work through the Executive Director and directly with the Deputy Director or other staff, in developing and implementing financial procedures and systems.
Reports
Ensure that appropriate financial reports are made available to the board. Regularly report to the board on key financial events, trends, concerns, and assessment of fiscal health.
Financial Planning
With the Deputy Director and the support of Finance & Audit Committee, develop a final budget to be presented to the Board of Directors for approval.
Approvals
Financial expenditures in excess of $100,000 require a written approval by the Treasurer.
Committees
Chair the Finance Committee and the Audit Committee and prepare agendas for their meetings. Sit as a member of the Executive Committee of the Board, and attend meetings as required.
Auditor
Recommend to the board and Membership, the selection of an auditor. Work with the auditor and the Finance & Audit Committee; present the annual audited financial report to the Membership at the Annual General Meeting.
Cash Management and Investments
Ensure, through the Finance & Audit Committee and the Fund Development Committee, sound management and maximization of cash and investments.
While the Vice President is encouraged to attend Super Conference at the beginning of their first year and is invited to several events to be introduced, they do not have hosting and representation duties as the Super Conference is the project of the preceding years’ board. Travel, conference registration fees and accommodation are not covered by OLA until the following year.
Date for Review: 2026; Every 3 Years
