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

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

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

Answer: (A)

The person in charge of funds and financial records is the treasurer. This officer is entrusted with receiving and safeguarding the organization’s money, handling disbursements, and maintaining ledgers, bank accounts, and other financial records. They also typically prepare and present financial reports at meetings. The president leads the group and handles general affairs, the secretary manages minutes and correspondence, and the auditor reviews the records for accuracy rather than managing funds. So, the treasurer is the one responsible for custody of funds and the maintenance of financial records.

The person in charge of funds and financial records is the treasurer. This officer is entrusted with receiving and safeguarding the organization’s money, handling disbursements, and maintaining ledgers, bank accounts, and other financial records. They also typically prepare and present financial reports at meetings. The president leads the group and handles general affairs, the secretary manages minutes and correspondence, and the auditor reviews the records for accuracy rather than managing funds. So, the treasurer is the one responsible for custody of funds and the maintenance of financial records.