A local league’s Treasurer is a crucial position within its Board of Directors. The Treasurer is responsible for the financial condition of the local league and providing monthly or periodic updates to fellow board members. The individual will prepare financial statements and budgets, including the annual financial report to the submitted to the league’s membership. The Treasurer also handles income and expenses of the league and properly tracks and records them. It's a big job, with a very important role in making sure your league operates smoothly, and your volunteers and players have all the support they need.
The Treasurer should not be the same individual as the President, and Little League® International strongly encourages the Treasurer not have any preexisting relationship with the League President.
The Treasurer, to properly perform the functions of the position, should have:
Financial and Accounting Management ExperienceWhile the Treasurer does not need to be an accountant or work in the financial field, some background and ability to handle financial and accounting tasks is strongly recommended. The ability to prepare proper and thorough records is essential.
Thorough RecordsTo avoid possible issues of theft, a Treasurer should keep solid financial records and track all of the league's purchases. This should include approval for all purchases and requirement of receipts and order forms (if possible) for all transactions, no matter the size of the purchase.
It's a big job, with a very important role in making sure your league operates smoothly, and your volunteers and players have all the support they need.The Treasurer should also institute the following to improve the league’s financial management.