Is your Treasurer stealing from you?

Posted on May 13, 2014 by

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I used to be Treasurer of my roller derby league, which means I have the inside goss on derby fraud. Would you like to know how to prevent your Treasurer stealing your money?

Photo by Martin Stanley; edited Dilettante

Photo by Martin Stanley; edited by Dilettante

  1. Pay EVERYTHING via EFT. Come on people, it’s 2014, who even uses cash anymore? If you must hand over cash, make sure you get a receipt. Say you’re OCD and need it for your records or something if you feel uncomfortable asking. Cash is by far the easiest way for a Treasurer to skim money from the club.
  2. Ask for monthly reports. Your Treasurer should be offering a short monthly report that, at a minimum, shows how much money the club accumulated that month and how much it spent. I used to do a one page summary by category (eg income from fees, fundraising; expenses for venue hire, guest trainers, equipment). Then I’d attach the complete list of all amounts that came in and out from my accounting spreadsheet. (I’d delete member names from the list of all transactions.)
  3. Make sure your Treasurer has had a Police check. It’s about $50 and the club can reimburse her.
  4. Make sure more than one person has online access to the club’s bank account. The second person needs to log in regularly just to make sure there are no irregular transactions.
  5. If you do get taken for a ride, don’t be embarrassed. It doesn’t mean you’re naïve – it means you’re a good, trusting person who expects others to be good and trustworthy. But make sure you prosecute. If you don’t, chances are they’ll just move on and start another roller derby league so they can continue to line their pockets with honest people’s money.

If you’re a Board member and would like more guidance on how to protect your club from fraud, check out this Good Governance checklist.

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Posted in: LimboLand