Which officer is typically responsible for custody of the organization's funds and maintenance of its financial records?

Which officer is typically responsible for custody of the organization's funds and maintenance of its financial records?

• A. Auditor
• B. Secretary
• C. Treasurer
• D. President

Answer: (C)

The officer who handles money and keeps the financial records is the treasurer. In parliamentary procedure, the treasurer is responsible for receiving, safeguarding, and disbursing the organization’s funds, as well as maintaining ledgers, bank accounts, receipts, and all financial records. They typically prepare budgets and report on the organization’s financial status at meetings, ensuring proper internal controls. The auditor’s role is to review and verify the treasurer’s records for accuracy and compliance, not to handle funds. The secretary handles minutes, correspondence, and records of membership and proceedings, while the president presides over meetings and provides leadership. So the treasurer is the one most closely associated with custody of funds and financial records.

The officer who handles money and keeps the financial records is the treasurer. In parliamentary procedure, the treasurer is responsible for receiving, safeguarding, and disbursing the organization’s funds, as well as maintaining ledgers, bank accounts, receipts, and all financial records. They typically prepare budgets and report on the organization’s financial status at meetings, ensuring proper internal controls.

The auditor’s role is to review and verify the treasurer’s records for accuracy and compliance, not to handle funds. The secretary handles minutes, correspondence, and records of membership and proceedings, while the president presides over meetings and provides leadership. So the treasurer is the one most closely associated with custody of funds and financial records.