Treasurer Ideas

Whether you've been elected class treasurer, have taken over as treasurer of your club or have accepted a position as the treasurer of a charity, there are several ideas you can incorporate to increase your likelihood of success in the role. These ideas can keep the money you're in charge of secure while allowing your treasury to grow.

Budget

When you first enter office, look at the available funds and create a budget for spending the money. Make a list of all the events the money can be spent on, such as group outings, refreshments for meetings, rental fees, if applicable, and any equipment or materials needed for the club. Rank each item on your list from most to least important, then set aside money for each. If you're low on money, cut from the lower-ranked items on the list. For example, if there is a lack of money for the next three months, refrain from a group outing and instead hold a group fundraiser.

Brainstorming

Don't close yourself off from the rest of the group. After you're elected treasurer, set up a meeting with the members and ask for input on the group's finances. Ask about any worries group members are having, such as spending too much, or not spending enough on necessary items, and write them all down. Use the list of concerns to guide your planning as treasurer.

Fundraisers

Develop several fundraising events and space them out over the course of the year. Draw up an estimated cost for each event and the potential money that can be earned. For example, you may organize a holiday breakfast event. Ask for donations of food and time from your members, both in working the event and garnering publicity for it. Charge a per-person fee for the event. For example, if an event attracts 100 people and each person is charged $5, then the earning potential is $500 before costs. Groups with adult members can throw a bachelor/bachelorette auction where you take donations in exchange for a "date" with your members.

Goals and Rewards

State a financial goal for a set period, such as earning $500 in three months. Offer an incentive, such as a group outing or dinner if the goal is met. You can further spur the members into action by offering a prize for the member who raises the most money. Choose a prize attractive enough to generate interest but not so expensive that it detracts from the goal of raising money for the organization.

Transparency

In both running for the position and once you have the position of treasurer, one promise you can make to your group members is transparency. This is accomplished by keeping track of the money in your group down to the last penny. One way to do this is to create a spreadsheet. At the top of the sheet input the total amount of money available when you entered office. Go down the sheet and input any money spent and an itemized list of what it was spent on. On the same sheet, input any time money is earned. Send out weekly email updates to your members with the current amount of available funds and weekly gains and losses.