Arkansas State Board of Embalmers and Funeral Directors Service Laws, Rules, and Regulations (LRR) Practice Exam

What is one of the responsibilities of the Secretary-Treasurer regarding the board's finances?

1. To independently manage the budget

2. Hold all moneys received for board operation expenses

3. Invest board funds in stocks

4. Declare personal income from board activities

The correct answer is: Hold all moneys received for board operation expenses

The responsibility of holding all moneys received for board operation expenses is vital for maintaining the integrity and transparency of the board's financial activities. This role ensures that all funds collected are appropriately managed and allocated towards the operational needs of the board. As the Secretary-Treasurer, this person acts as a custodian of financial resources, overseeing the collection, disbursement, and overall financial reporting related to those funds. This position plays a crucial role in providing accountability and ensuring that all financial transactions are conducted in accordance with established laws and regulations, thus contributing to the board's financial health and operational efficiency. In contrast, independently managing the budget may involve decision-making that surpasses the authority typically granted to one individual, which could lead to a lack of oversight. Similarly, investing board funds in stocks introduces risks that require board consensus and formal policies to manage properly, which is not part of the traditional duties of a Secretary-Treasurer. Declaring personal income from board activities is not relevant to the board's financial oversight, as it pertains to personal earnings rather than the board's fiscal responsibilities.