A volunteer treasurer can be a difficult job and ensuring a good handover between treasurers is imperative so they are up to speed with what is required of them and understand the way forward.

Here are some succession tips which can help with the changeover and minimise stress on the current and future volunteer treasurers and the NFP in question.

1. Draft a timeline for volunteer treasurer successions and handovers

2. Identify any challenges that may occur during the transition

3. Support new employees by clearly defining goals and offering coaching and mentoring as necessary

4. Communicate everything clearly and thoroughly leaving plenty of room for questions

5. Allow enough time to train on software such as Admin Bandit and arrange ongoing support if required

6. Ensure that the new treasurer has time to work with the current treasurer to help clarify the role

7. Try to have as large an overlap between roles as possible

8. Plan an exit interview so the NFP has a chance to learn more about the role and processes

9. Assign each task an estimated amount of time so you can plan accordingly

10. Have the current volunteer treasurer assess their job description based on their experience for accuracy

11. Define the culture of the organisation to ensure a good fit for the new treasurer

12. Update the bank account records so the new treasurer is recognised as a signatory and any old signatories are subsequently removed

13. Keep the volunteer treasurer on call for a specific period as an adviser

14. Make sure all financial statements and reports are up to date

15. Delegate some of the duties in the changeover to avoid the new member taking on too much at the outset

16. Develop a culture of shared information so any important information does not leave with the last treasurer

17. Create an informative handbook that is easily accessible to anyone in the organisation

18. Always budget for more time than you think you need

19. Ensure the financial management and procedures manual is up to date

20. Create a document of FAQs pertinent to the particular role which may help

These are just some of the things that can be done to ensure a smooth handover for everyone. An efficient handover will ensure that any new staff members understand the value of their role and how important they are to the NFP as a whole.