Changing Treasurers? A Safe Handover Checklist For Your Scheme

A treasurer resigns in the middle of the savings cycle. The committee thanks them, adds someone new to the WhatsApp group and assumes the job has been handed over.

Three months later, nobody knows why the contribution register differs from the bank balance. The new treasurer cannot open an old statement, one member's deposit is still marked unpaid, and the former treasurer remains the only person receiving bank notifications.

Changing the title next to someone's name is not a handover. A proper handover transfers records, access and accountability on an agreed date.

Start With A Formal Decision

The constitution should say who appoints or removes office bearers and what vote is required. Follow that rule even when everyone appears to agree.

Record a resolution containing:

• The outgoing treasurer's name
• The incoming treasurer's name
• The date on which responsibility changes
• Who may instruct the bank
• Who must complete and witness the handover
• Any temporary limits while the mandate is being updated

The minutes should also record why the change is happening in neutral language. “Term completed” or “resigned for personal reasons” is enough. A handover document is not the place for gossip or accusations.

If the group's rules do not explain role changes, add a clear clause at the next properly constituted meeting. The plain-language scheme rules template provides a starting point.

Do Not Share Passwords

The outgoing treasurer must not send a banking password, card PIN or one-time password to the incoming treasurer. Shared credentials make it impossible to prove who performed an action and may breach the bank's terms.

Use the bank's formal process to:

• Remove the outgoing authorised user where required.
• Add the incoming authorised user.
• Confirm transaction and approval limits.
• Update the phone number or email used for official alerts.
• Replace cards or security devices issued to a named person.
• Confirm that at least two appropriate people can access statements.

Keep a copy of the signed resolution and the bank's confirmation. Until the mandate is complete, apply a temporary rule for outgoing payments so that nobody assumes access has already changed.

Reconcile Before Responsibility Moves

The handover balance is the line between the two treasurers' periods of responsibility. It must be supported by evidence.

Choose a cut-off date and reconcile:

Closing bank balance

plus: payments made by members but not yet reflected by the bank

less: approved payments recorded by the scheme but not yet processed

equals: the balance the scheme expects to control

Then compare that amount with the member contribution register and any other scheme funds, such as reserves or unallocated receipts.

Every difference should appear on an exceptions list. Examples include:

• A deposit with no usable member reference
• A debit order still waiting to clear
• Bank fees not yet recorded
• A payout approved but not yet released
• Interest appearing on the statement but not yet allocated

Do not force the figures to agree by assigning an unknown deposit to the most likely member. Record it as unallocated until there is reliable evidence. Our guide to monthly bank reconciliation explains the process in detail.

The Records To Transfer

Use one checklist and mark each item as transferred, not applicable or outstanding.

Money Records

• Bank statements from the start of the current cycle
• Contribution register by member and period
• Payout and expense register
• Record of interest, fees and charges
• List of members in arrears
• List of unallocated deposits
• Current reserve balance
• Latest completed reconciliation

Supporting Evidence

• Proof of payment supplied by members
• Invoices and receipts for approved expenses
• Payout approvals
• Signed meeting minutes and resolutions
• Contracts, quotations or investment statements
• Correspondence about unresolved transactions

Governance Records

• Current constitution and amendments
• Current member register
• Role and permission list
• Bank mandate and signatory details
• Contribution and payout calendar
• Register of declared conflicts of interest
• Open complaints or disputes

Access And Storage

• Shared record-storage location
• Scheme email account and recovery process
• Accounting or scheme-management platform access
• Bank statement access through individually named users
• Physical cheque books, cards or security devices, where applicable
• Keys to any cabinet or secure physical storage

Do not place unencrypted identity documents or bank details into a general WhatsApp group. POPIA requires organisations holding personal information to use appropriate safeguards against loss and unauthorised access. The Information Regulator's POPIA resources explain the responsibilities of a body that controls personal information.

Use A Signed Handover Record

The final document does not need elaborate legal language. It should state:

On [date], the outgoing and incoming treasurers reviewed the records listed below. The reconciled bank balance was R[amount]. The scheme records showed R[amount]. The differences and outstanding actions are listed in this document.

Include a table with four columns:

The outgoing treasurer, incoming treasurer and witness should sign it. A signature confirms what was transferred; it should not be used to erase an unresolved difference or excuse misconduct.

If Something Does Not Balance

A difference is a reason to investigate, not immediately a reason to accuse.

First check timing, duplicate entries, bank charges, reversed payments and incorrect references. Ask for supporting evidence and give the responsible person a reasonable opportunity to explain.

If money may be at risk:

1. Apply the constitution's emergency authority and approval rules.
2. Contact the bank through a verified channel.
3. Preserve statements, messages and approvals without editing them.
4. Record the committee's actions and reasons.
5. Obtain independent legal or accounting advice where appropriate.

Do not conduct a public trial in the member chat. Protect the records and follow a fair process.

The First Month After Handover

The incoming treasurer should complete a fresh reconciliation at the end of the first month. Another committee member should review it against the bank statement.

This confirms that:

• Access works as intended.
• Contributions are being recorded consistently.
• Old exceptions have not disappeared from view.
• Approval rules are operating in practice.
• Members receive the reports the constitution promises them.

Zeturi supports the handover by keeping contributions, approvals and member balances in a shared scheme record rather than in one person's private spreadsheet. The committee still makes the decisions; the record makes those decisions easier to verify.

This article provides general governance information and does not replace legal, banking or accounting advice.