What is the Treasurer's primary fiduciary duty to the organization?

• A. Safeguard assets, ensure accurate financial reporting, and maintain compliance with laws, regulations, and internal policies.
• B. Maximize income for the organization.
• C. Prepare tax returns for the organization.
• D. Approve all expenditures by the organization.

Answer: (A)

Financial stewardship and governance are at the heart of the Treasurer's fiduciary role. The primary duty is to safeguard the organization's assets, ensure accurate financial reporting, and maintain compliance with laws, regulations, and internal policies. Safeguarding assets involves solid internal controls—such as segregation of duties, proper authorization, and regular reconciliations—to protect resources from loss or misstatement. Accurate financial reporting means keeping records complete and timely so the organization’s true financial position and performance are clear to the board and members. Compliance ensures activities meet legal requirements, accounting standards, and the organization’s own policies, reducing risk and protecting reputation. While managing income, handling tax matters, and approving expenditures are part of financial management, they fit within this framework and do not supersede the overarching obligation to protect resources, report honestly, and comply with applicable rules.