OLA Treasurer
Governance Policies and Procedures
Policy Number: G 3.10 | Policy Type: Board Officer's Roles and Accountability | Approval Date: Sept 2025 | Last Revised: April 2026 | Scheduled Review: Every 3 Years (2028)
Introduction
[In conjunction with Operational By-Law 2, Section VIII]
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 the 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 & Audit Committee and prepare agendas for their meetings. Chair the Fund Development Committee and prepare agendas for their meetings in consultation with the Deputy Director. 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 and Fund Development Committees, sound management and maximization of cash and investments.
The Treasurer position is open to all OLA members in good standing for a two-year period prior to nomination.
While the Treasurer is encouraged to attend the whole of Super Conference in both years, the duties are limited to the Annual General Meeting presentations. Travel, conference registration fees and accommodation will be covered for the appropriate day.
Reference
Date for Review: 2026; Every 3 Years
