TREASURER

Our Q and A with the candidates for 2018 LSS Treasurer

What does the Treasurer bring to the character and functioning of the LSS? Why are you suitable for this role?

Lachlan Johnson 

The LSS Treasurer performs one of the most important functions on the Society. The Treasurer is responsible for the management and execution of payments that allow the LSS to conduct all of the events and initiatives that students get so much benefit from.
 
Another one of the Treasurer’s responsibilities is to ensure that the financial records of the Society are well managed, ensuring that funds are available when appropriated by the different LSS portfolios. Having been a Co-op in the Careers portfolio this year, I have had exposure to how the appropriation/payment process operates and am aware of the structure and events of the different LSS portfolios. I believe that this knowledge is very important to the role of Treasurer.
 
In regards to my personal financial expertise, I am suitable for this role given my prior undergraduate studies (Melbourne BCom, Accounting/Finance) and my prior work history interning in audit at PwC and in corporate tax at GE. I believe that the skills I have developed from my study and work are essential for the position of Treasurer.
 
I think of particular relevance is an understanding of the audit process given that at the recent MULSS SGM, the Society will now be required to conduct audits annually, compared to the prior standard of once every two years.

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​Russell Hughes

The Treasurer works with the leadership team to ensure the ongoing financial health of the LSS. This is through managing the society's sponsorship, together with the Director of Sponsorship and the rest of the leadership team, and also through traditional financial supervision. The Treasurer is responsible for the cash flows, budget, banking, and accounts of the LSS. I believe I would be perfectly suited to the role of Treasurer, as from 2012-2017 I was managing a cocktail bar in Flinders Lane with a very similar job description - I maintained all the accounts, did reconciliations, business activity statements, negotiating with banks, tax, payroll and so on, giving me a detailed understanding of what is required to ensure the financial health of a small business (~20 staff). ​

If successful, what do you most hope to achieve, and do differently, in your term as Treasurer?

Lachlan Johnson

Following on from the end of the last question, I hope to continue on from the hard work of the prior Treasurers in preparing the LSS for its annual audit (as well as continue the other responsibilities such as budgeting, tax compliance and financial reporting).

I am aware of the work that is required to get prior financial records into shape so I hope to ensure that the books are kept in a complete, detailed and accurate basis moving forward.

Finally, I believe there is room to increase the level of financial transparency so that there is more information available to the entire cohort about how LSS funds are spent, especially given the role of the LSS as the official representative body of the students of MLS.

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​Russell Hughes

If I am successful, my main goal is to use my time and skills to give back to the LSS. It might not be a groundbreaking motivation, but the Treasurer's role involves some stability. Aside from the cliche 'doing the job well', I would like the role to be a bit more open, with more transparency about the financing situation of the LSS and its sponsors - I feel that the more students understand about the backing given to the different initiatives, the more potential sponsors will view it as valuable, and the more initiatives the LSS can run. At the end of the day, the real goal is enriching the experience of the students in the law school.

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