Address
Form of work
SalaryThe Board consists of five directors who are also trustees. The Treasurer is one of the trustees. The Management Committee comprises the directors/trustees together with other key members who play a leading role in the management and organisation of the festival.
The Treasurer's role is to manage cash and banking, and to maintain financial records necessary to comply with the reporting requirements of Companies House and The Charity Commission, as well as providing management accounts to the Board and Management Committee.
Bank and Cash Management
The Treasurer is responsible for ensuring that all income and expenditure properly relates to the activities of BMF.
Expenditure is largely by bank transfer, for which only one authorized signatory is required. On the rare occasion that payments are made by cheque, two authorized signatories are required.
Accounting Records
Accounting records are required to be kept of all receipts and payments, cash and bank transactions, in such a way as to provide detailed income and expenditure reports, Statutory Accounts, and an audit trail for the Independent Examiner.
Historically accounting records have been kept primarily using paper. Records are now kept electronically, using an invoice log to record the support for all payments
All budgets, management and financial accounts are recorded in Microsoft Excel, so some understanding and familiarity with Excel is essential Financial Reports
The Treasurer prepares reports for meetings, or as requested by the Board, with updated financial information including Profit and Loss Account forecasts, and budget and prior year comparisons.
The Treasurer prepares Statutory Annual Accounts made up to 31 August each year and liaises with the Independent Examiner (Auditor).
