General

The Treasurer is one of the four officers of The Folk Project and shares check-signing authority with the Folk Project president. He or she serves a 12-month term, from January to December, and (like the other officers) is limited to two consecutive terms. However, the Treasurer continues in an advisory capacity until the books are closed on the previous fiscal year, to ensure a smooth transition for the incoming Treasurer. In this role, the Treasurer may be supported by additional volunteers who are not board members.

The Treasurer and his or her support team is responsible for managing the organization’s accounts, paying vendors, making any non-standard bank deposits and maintaining centralized computer records of all transactions. Individual committees are responsible for making bank deposits related to their own activities and for reporting the details of any financial transactions for entry into the Folk Project's online accounting system. We use QuickBooks.

The Treasurer has no special decision-making role in financial matters, but supports and executes decisions made by the individual committees or the organization as a whole.

Work Activities

Specifically, the Treasurer is responsible for:

• • Issuing prompt reimbursements to any members who have spent money on the organization’s behalf, and making timely payments to any vendors or subcontractors who may be engaged by The Folk Project.

  • Attending monthly Board Meetings and participating in the general business decisions of The Folk Project.

  • Advising the board on the financial state of the organization, both through regular monthly reports and through any ad-hoc analyses that may be necessary or appropriate.

• Supporting the committees as necessary, on anything that pertains to financial matters.

• Maintaining an adequate supply of checks, envelopes and related supplies.

  • Keeping the on-line accounts in order, with monthly reconciliation against printed statements; following up on un-cashed checks with reminder notices.

  • Overseeing the quarterly reports to ASCAP and BMI, and ensuring that all venues are appropriately represented.

  • Managing the Folk Project's PayPal account, analyzing PayPal transaction logs, transferring funds to the checking account on a monthly basis, issuing refunds on request and reporting the PayPal income to the activities involved.

  • Monitoring the Folk Project's Vanguard account and adjusting the account balances in QuickBooks to reflect how the funds are allocated between Getaway and General balances.

  • Serving as primary contact point for Folk Project insurance matters, keeping an eye on the policies in place and arranging for certificates of insurance as necessary.

  • Producing and distributing annual 1099 forms to qualifying vendors.

  • Facilitating a year-end audit of the financial records, prior to closing the books.

  • Working with the Folk Project’s outside accountant to prepare year-end tax reports.

  • Signing off on the year-end tax reports, and filing same with the IRS.

Skills and Experience

Prerequisites for this position are:

• • Access to a personal computer and an Internet connection

  • General knowledge and understanding of accounting fundamentals

  • Some experience in bookkeeping

In addition, the successful Treasurer will be:

• • Well-organized, thorough and attentive to detail

  • Flexible, and willing to accommodate the different practices and reporting needs of individual committees

Finally, the following would be considered desirable, in decreasing order of importance:

• • A genuine interest and demonstrated willingness to participate in the activities of The Folk Project

  • Previous service on the Folk Project board, and familiarity with the Treasurer’s role

  • Previous experience in a similar role for another non-profit organization