The Treasurer oversees all the association’s financial activities, which is a big responsibility. The year begins with drawing up the budget together with your predecessor, and learning accounting skills. The first budget is already one of the most important tasks during the year, as it has a big influence on the policy for the year. Throughout the year, you will be involved in all decisions and projects that involve money. Here you play an important role, as money is always a major factor in the decision making process and you have the most knowledge of the finances of FAECTOR. You will be in close contact with all the committees and their treasurers. All event and committee budgets must be critically assessed and approved by you first, and you will regularly check them. For bigger events such as the Econometric Career Days or the Business Trip, it is even more important you closely monitor the financial progress over the year. In addition you are responsible for all payment matters with the companies FAECTOR works with.
Besides keeping an eye on the financial status of FAECTOR, you are responsible for the financial administration. This includes carefully administrating all payments in the bookkeeping program Exact, sending and keeping track of all invoices, filing tax returns, or updating budgets.
The treasurer needs to stay in close contact with a lot of different people as the treasurer is involved in every financial decision. First of all you will work closely with all committee members and your fellow board members concerning the finances of their projects. Next, all contact with the Audit Committee goes through you. This committee controls the work of the treasurer and needs to approve big expenditures. Next, the treasurer takes part in the board of the SAED which is a fund that financially supports FAECTOR and provides grants for the FAECTOR board through investments. Additionally, the treasurer of FAECTOR is also the treasurer of the Financial Markets Tour where you work closely with the Career Officer. Furthermore, as FAECTOR is the treasurer of the Interfaculty, you will work closely with the President to control the budgets of the Interfaculty events. Finally, you will take place in the Audit Committee of the LOES, which is the national organ for econometric study associations of the different cities in the Netherlands. Here you control the finances and accounting of the LOES treasurer.
Besides overseeing the financial situation and bookkeeping, the treasurer also oversees the booksale and supervises two committees: The City Trip Committee and the FAECTOR Consultancy Project Committee. The City Trip Committee organises the FAECTOR’s yearly city trip, which is one of the social highlights of the year! The FAECTOR Consultancy Project Committee organises consultancy projects for econometrics students, as well as charity initiatives. Lastly, this committee is responsible for the acquisition of the FAECTOR app.
What will be the main responsibilities of the Treasurer of the 56th board?
- Preparing and updating FAECTOR’s budget
- Controlling committee and event finances
- Company contact for payment matters
- Financial administration
- Contact with the Audit Committee
- Audit Committee of the LOES
- Involvement in financial matters of SAED, Interfaculty and FMT
- Supervising the FAECTOR Consultancy Project Committee
- Supervising the City Trip Committee