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What do Treasurers and Controllers do?

Direct financial activities, such as planning, procurement, and investments for all or part of an organization.

What are the Main Tasks of Treasurers and Controllers?

  • Prepare and file annual tax returns or prepare financial information so that outside accountants can complete tax returns.
  • Prepare or direct preparation of financial statements, business activity reports, financial position forecasts, annual budgets, or reports required by regulatory agencies.
  • Supervise employees performing financial reporting, accounting, billing, collections, payroll, and budgeting duties.
  • Delegate authority for the receipt, disbursement, banking, protection, and custody of funds, securities, and financial instruments.
  • Maintain current knowledge of organizational policies and procedures, federal and state policies and directives, and current accounting standards.
  • Conduct or coordinate audits of company accounts and financial transactions to ensure compliance with state and federal requirements and statutes.
  • Receive, record, and authorize requests for disbursements in accordance with company policies and procedures.
  • Monitor financial activities and details such as reserve levels to ensure that all legal and regulatory requirements are met.
  • Monitor and evaluate the performance of accounting and other financial staff, recommending and implementing personnel actions, such as promotions and dismissals.
  • Develop and maintain relationships with banking, insurance, and nonorganizational accounting personnel to facilitate financial activities.
  • Coordinate and direct the financial planning, budgeting, procurement, or investment activities of all or part of an organization.
  • Develop internal control policies, guidelines, and procedures for activities such as budget administration, cash and credit management, and accounting.
  • Analyze the financial details of past, present, and expected operations to identify development opportunities and areas where improvement is needed.
  • Advise management on short-term and long-term financial objectives, policies, and actions.
  • Provide direction and assistance to other organizational units regarding accounting and budgeting policies and procedures and efficient control and utilization of financial resources.
  • Evaluate needs for procurement of funds and investment of surpluses and make appropriate recommendations.
  • Lead staff training and development in budgeting and financial management areas.
  • Receive cash and checks and make deposits.
  • Compute, withhold, and account for all payroll deductions.
  • Perform tax planning work.
  • Determine depreciation rates to apply to capitalized items and advise management on actions regarding the purchase, lease, or disposal of such items.
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