Duties and responsibilities of a treasurer;

from the Treasurers Manual.


The treasurer must maintain custody of stabilization funds, pension reserve funds, trust funds, enterprise funds, investments, and all other funds of the town not specifically allocated to other agencies by general law or special act. (40:5B, 5D; 41:46; 44:53; 44:53F½) Generally, the treasurer serves as custodian of various financial documents, such as insurance policies, fidelity bonds of other town officials, and deeds to all municipal property acquired by deed. [The town accountant serves as the custody of contracts in towns and must also maintain a register of sureties on bonds (41:57); in cities, the clerk serves as the custodian of contracts. (41:17)] The treasurer should regularly advise administrative officers, finance committees, and others concerning the financial condition of the city or town, providing factual information upon which appropriating and budgeting decisions may be made. The treasurer should diligently maintain tax title accounts, conduct sales of land of low value, in proper circumstances, and prepare documents required to petition for foreclosure, when appropriate. (60:50, 61, 62, 63, 76, 77, 79, 80) Ultimately, the treasurer bears responsibility for the closing and reconciliation of all books and accounts in the treasurer’s office, including the cash book, warrants (including vendor, payroll, and special warrants), bank accounts (checking accounts, trust funds, and bond and coupon accounts), insurance programs, retirement funds, debt records, and tax title accounts. The treasurer should regularly and carefully prepare all obligatory reports, including (a) cash reconciliations (b) reports to the accountant of all receipts and balances; reports of payroll deductions (i.e., federal withholding, state withholding, retirement funds, group insurance, credit union, union dues, etc.) (c) an annual report, which includes a statement of receipts and disbursements, a statement of debt, and, in the absence of trust commissioners, a report of trust funds, and (d) reports required to be submitted to the Bureau of Accounts, including an annual filing on or before June 30th of the quarterly report of reconciliation of treasurer’s cash. See Division of Local Services website, www.mass.gov/dls.)

Jeff Bennett