The Treasurer
Job Description
Introduction
The Treasurer is one of the key roles of any party organisation. Along with the Chair, you are one of two signatories for your party / group, and have direct responsibility and accountability for its activities. The Treasurer's role is to oversee the finances, both in terms of expenditure and income received.
This page contains practical guidance on the standard tasks that each Treasurer should be doing, along with resources and instructional videos to help you in your role. For further information, please contact the the Compliance Team at Lib Dem HQ by emailing: compliance@libdems.org.uk
Key Tasks
The Treasurer will prepare a budget for the year. This will usually be in consultation with the officers or a campaign committee if the party / group has one. The budget should be approved by the executive and is a useful tool to monitor income and expenditure on a regular basis.
The Treasurer needs to keep accounts, which are audited annually, approved by the Executive and sent to the Compliance Team at LDHQ. If your party organisation has an annual income or expenditure of over £25,000 then it must comply with additional rules. You will receive guidance on these from the Compliance Team at party HQ.
The Treasurer must submit donation reports by the 10th of each month to HQ, in accordance with PPERA (the Political Parties, Elections and Referendums Act 2000).
The Treasurer will need to work with the fundraiser or the officer group to set targets.
The Treasurer needs to ensure that accurate records are kept and budgets are stuck to. This may require liaising with branch treasurers, if you have them, and election agents across election times.
The Treasurer needs to fill in campaign expenditure records as required by PPERA.
Complying with the Law
Treasurers will receive a monthly email from the Compliance Team at HQ.
Each mailing contains important information about upcoming training events, as well as deadlines (e.g. donation reporting by the 10th of the month).
PPERA requires the declaration of any donation, loan or gift in kind (e.g. premises / office rental) that a party / group has received in the preceding month.
It is equally important to submit a nil return where there is nothing to report.
Reporting Requirements
Donations, loans and gifts in kind of £500 and over from individual and company donors.
If it comes from an individual, the donor must be on the Electoral Register, their Electoral Number (Poll Number) and address must be included.
If the donation comes from a company, the organisation must be on the Companies House register - their company number, address and proof of trading must be included.
Where a loan has been received by a Lib Dem party or group, the lender's name, address must be provided. Whether there is any interest to be paid, the terms of the loan and payment date must also be provided. Please also include a copy of the signed loan agreement by emailing: compliance@libdems.org.uk
PPERA states that we can only accept donations / loans / gifts in kind from permissible sources. As such, you are responsible for checking the validity of each source.
Resources
Click here for full details and the latest information for Treasurers.