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Posts Tagged ‘volunteer treasurer’

Filling the post of volunteer treasurer can be a difficult task for many boards. While volunteer treasurers are responsible for performing a number of significant tasks and duties, there are a number of myths about being a treasurer of a nonprofit organisation that can hold individuals back from volunteering. The following are a few of the benefits that can arise from fulfilling the role of volunteer treasurer.

Improve Self-Esteem and Sense of Self

Many volunteers report that they find that they effort and work that they do to support their cause is very rewarding. Volunteering gives folks that participate a sense that the work that they do is meaningful, and that the actions that they are taking are helping to bring about positive change and transforming their communities into a better place.

This sense of working with others to serve a greater purpose helps improve the morale and sense of well-being one has as a volunteer.

Networking

Because their service often involves working with both other volunteers and service recipients, volunteering gives others the opportunity to meet new people, and learn new things about existing connections. Volunteering connects individuals with others who often share their values, and this increases friendship and a spirit of camaraderie and belonging. Greater connectedness with others increases empathy and happiness, which can improve wellness and well-being.

Volunteering can also boost one’s employment opportunities, as it makes it easier for volunteers to meet others in diverse fields and backgrounds. This increases prospects for the volunteer and can make it easier to find new positions in one’s field, or change careers entirely.

Learn New Skills and Use Existing Skills in a Different Way

Many accounting software packages have simplified common treasurer tasks, such as creating the budget and other reports and documents. It is no longer absolutely necessary to have prior accounting or bookkeeping experience to be a successful volunteer treasurer. However, volunteers with prior accounting, finance, insurance or other similar experience benefit from using their existing skills in a new way that offers them a different perspective on accounting processes and procedures. Others without this experience will appreciate the chance to learn new skills that are frequently used by volunteer treasurers.

Learning new skills not only help volunteers to grow as individuals, but, it provides them with an opportunity to update their resume and possibly increase their chances of success should they decide to enter a new field or search for a new position.

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Being a volunteer treasurer can be a huge responsibility, and during your most busy periods, you may find yourself struggling with the workload. Being able to manage your time efficiently becomes more important than ever, especially when you have finance issues and reports looming.

Here are some tips and tricks we garnered from other volunteer treasurers.

Skip the occasional meeting

While some meetings are important for you to attend, some meetings can be dealt with by a treasurer representative. Send someone on your behalf so you can catch up with your workload. They can then report back with anything that needs actioning.

Work from home

If you face a long commute or are juggling the hours between work and home, perhaps there are tasks which can be carried out at home. If you can access your finances on the cloud, then you may find that a lot of your workload can be handled directly from your home office.

Schedule your day

Without a set schedule, you have more chance of your time getting away from you. Plan to do specific tasks at set times. Check all emails first thing in the morning and then don’t check again until later in the day.

Work an early morning shift to get stuff done

If you can, plan for early morning periods where you can work uninterrupted. You may be surprised at just how much work you can get done at 7 am on a Saturday morning. Try not to make a habit of it, of course, but a few hours of working alone can do wonders for your overall schedule.

Rely on help from others

In truth, you cannot do it all. That is where colleagues and volunteers can come in handy. Seek help from quality staff who are as dedicated to the task as you are and who can help clear some tasks from your inbox. Delegate every opportunity you get.

Say no if necessary

It is important that you say no to some of the many requests that land on your desk. Just like you don’t have to attend every meeting, you also don’t have to go to every luncheon or do every bit of research that is asked of you. Prioritise your personal tasks, so you don’t stretch yourself too thinly.

Set time limits for volunteers

Volunteers may have issues and wish to discuss their problems with you. Let them know at the beginning of the meeting that you can only spare 5 or 10 minutes and keep to that time limit. Meetings can easily overrun and take up the majority of your office time.

Remember, it is your time. Being firm with your time limits and sticking to your main responsibilities is in your best interests. It will allow you to manage your workload more effectively and minimise the number of hours you work overtime.

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In past posts, we’ve discussed a few of the different types of budgets and how each type might be used by a NFP. While the most common type of budget is an incremental one, the actual goal that you are trying to achieve determines the type of budget that will provide your board members with the clearest, most actionable information.

Budgets can also vary based on the length of time that they measure, such as monthly, interim and annual budgets. Individual budgets can also be made for a specific department or service project, while a master budget includes information and projections from all of your organisation’s individual budgets.

The following list outlines a few steps to take to help you get started creating your NFP’s next annual budget.

1. Pick a Budget Type. The first step in creating a budget is to decide what you are trying to measure and pick the corresponding budget type that will give your organisation the most useful information. For incremental annual budgets, figures and categories from the prior year’s budget form the basis for your new projections.

2. Start With Expected Revenue. As you begin to prepare your annual budget, you will likely want to start with the revenue section, as your NFP’s level of service, and the number and types of projects it offers the community, are dependent upon the type and amounts of funds that you expect to receive.

Include monies you expect to receive from all sources, including federal grants, donations, proceeds from fundraisers and/or ticket sales, other events and even unexpected or overlooked sources of income, such as rental fees or interest earned from other NFP assets.

3. Count Your Costs. Regardless of the budget type that you choose, you will want to separate your fixed and variable costs. This simple step enables your board to quickly see if they have enough revenue coming in to cover operations and what expenses that they might be able to lower through their direct actions.

Controlling costs enables your board to make the best use of the funds that they receive. Boards can also go a long way to ensuring their long term survival by controlling their costs.

4. Account for Project and Service Funding. This section of the budget allocates funds from revenue to specific services and projects. Depending on the type of budget that you choose, a portion of the fixed and variable costs associated with providing these specific services to the public might also be accounted for in this section of your budget.

5. Stay on top of Capital Budgets and Asset Management. Assets that are owned by the NFP must be properly maintained and cared for, and at some point, may need replacement as well. The costs associated with these actions should be accounted for in the budget.

Rather than directly using funding from the revenue budget, some NFPs use proceeds from investments in real estate, annuities, bonds, or other investment vehicles to help them to save to acquire capital that is later sold, with the proceeds being used to finance specific NFP goals.

Other NFPs seek to operate in such a way as to build cash reserves that can be later used to cover unexpected pitfalls, such as a loss of funding that might occur. Plans to save to cover the cost of purchasing, maintaining, and selling plant, equipment, and other capital assets, as well as plans to build cash reserves, should be included in this section of the budget.

6. Don’t Forget About Restricted Funds and Assets. Some grants and donations may come with conditions that restrict their use, so you will want your budget to include the revenue and costs associated with these funds separately from the sources of revenue and expense that don’t have such limitations.

For example, you wouldn’t want the sections of your budget reserved for general revenue and costs to include funds from sources that can only be spent to meet a specific need.  To ensure that these funds are spent properly, it is best to account for them in an individual budget that is then accounted for in a separate section on your master annual budget.

7. Frequently Review and Revise the Budget. Your board will likely want interim performance reports for each section of the master budget. Budgets should be reviewed frequently and action taken by the board so that they can quickly respond to any sudden changes and developments.

For example, the unexpected loss of funding from a long term donor or governing body should be addressed to prevent a shortfall in the revenue section of the budget and a corresponding drop in service level. If the loss of revenue can’t be made up, the NFP might look at cutting back on some of its variable costs or drawing upon its cash reserves or selling a capital asset in order to maintain its service level to the public.

While preparing the next annual budget for an NFP might seem like a daunting task for the volunteer treasurer, Admin Bandit’s software makes it easy for both the novice and the expert to stay on top of these and other common NFP accounting tasks. You can see just how easy it is to use by getting started today with our 55 day free trial!

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womanWhat roles can volunteers take in your not for profit?

That’s the question that sometimes stops organisations from accepting voluntary help.  What work can they do that is useful but not petty?

Actually, most volunteers won’t mind what they do as long as they feel their contribution is useful so by not accepting their help you could be overlooking a valuable resource.

Volunteer roles should not be limited to basic unskilled tasks but should be used to fill gaps that may exist. Sometimes the work might require high level professional skills.  For example, if you are recruiting a volunteer treasurer, the potential volunteer is likely to have extensive accounting experience and possibly CPA qualifications.  In addition, the organisation my require assistance with  the development of a strategic plan so utilising the skills of a retired business professional could be a great option to consider.

From a volunteer’s perspective there are also many opportunities available from both local to overseas organisations.  The Australian Government through AusAID have established the Australian Volunteers for International Development program where you can volunteer for short and long term projects.  As discussed in previous post there are many other organisations that you can volunteer for in overseas countries.  These opportunities provide great experience for the volunteers that can significantly enhance their career prospects.

One way to assist in determining which roles a volunteer can do is to complete a simple skills and task assessment matrix.  The first step to complete this matrix is to brainstorm what tasks can be performed by a volunteer.  Then with each task identify the required skills, experience, objectives, timelines as well as the priority for this role within your organisation.  This then makes it easier to create a position description for the role so you can attract the right person.

The roles of a volunteer can be vast but the important issue is to identify what skills are required as this will then make it easy to recruit for that role.

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tennis racquetThis week we had the official launch of Admin Bandit Online. In my launch speech, I had great fun telling a story of when I was a child growing up in the country during a mouse plague and my beloved mother chased a rat in the kitchen with the first thing she could grab (butcher’s knife). Being the helpful soul I was I grabbed the first thing I thought of that would be helpful (tennis racquet) and trapped the rat underneath the racquet. Like something out of an Alfred Hitchcock movie, Mum then repeatedly stabbed the rat with the butchers knife through strings of the tennis racquet.

Clearly using a butchers knife and a tennis racquet are not the right tools for killing a rat. You might achieve it in the end, but it is not efficient and (take it from me as the one holding the racquet) it is stressful and if not carried out correctly, someone can get hurt, other than the intended rat.

So what has this got to do with software? Well until now volunteer treasurers in Australia have not had the right tool for the job. What they’ve been using has been inefficient, stressful and on occasions there have been casualties (sometimes organisations have had to shut their doors).

When was the last time you were doing a task without the right tool and it was inefficient and stressful? Would love to hear what you think about my story about a rat, a tennis racquet and a butchers knife? 🙂

Admin Bandit
Here’s to volunteer treasurers..

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