Weeks 1 to 2: Access and Handover
- Update bank signatories and online banking access, removing anyone who has left.
- Collect records, passwords, the accounting file and recent statements from the previous treasurer.
- Confirm who can approve payments and up to what amount.
Weeks 3 to 4: Understand the Obligations
- Check whether you are a registered charity and your ACNC size, which determines whether a review or audit is required.
- Check your state's associations legislation and your constitution for reporting and audit requirements.
- Confirm your GST registration status. Not-for-profits must register once GST turnover reaches $150,000.
- List grant agreements and their reporting and acquittal dates.
Month 2: Budget and Reporting
- Agree an annual budget with the committee.
- Set up a one-page monthly report: income, spending against budget, cash balance and restricted funds.
- Separate grant funds so they can be tracked to acquittal.
Month 3: Controls and Calendar
- Require two people to approve every payment.
- Reconcile bank accounts monthly and keep evidence for every transaction.
- Build a calendar of lodgement, grant, audit and annual general meeting dates.
- Registered charities: note your ACNC Annual Information Statement, generally due six months after year end.
Governance Matters Too
Registered charities must meet the ACNC Governance Standards, which cover purposes, accountability to members, compliance with Australian laws, the suitability of responsible persons and their duties. As treasurer you play a central role in the accountability and duty standards.
