Finances - Top Tips
Managing the finances of your grassroots netball organisation can feel overwhelming. Below you will find some top tips and templates to help you manage things effectively.
Bank Accounts should be in your organisation name not a personal account.
You should have a minimum of two signatories on the account.
The signatories must be unrelated and not co-habiting e.g. not family or partners.
Do not grant access to anyone without them going through the proper checks with your bank e.g. don’t give someone new your log in details.
It’s important to budget for the season ahead no matter the size of your organisation.
Think about the things you might need to spend money on e.g. court hire, entry fees, kit or equipment, volunteer expenses.
Work out how much that might be in total , then work out how much you might receive in subs, membership fees etc.
If there is a shortfall how will you make this up, fundraising, grants or sponsorship?
Finances should be regularly communicated at committee meetings by the treasurer.
Make sure that the annual accounts of your organisation are independently scrutinised outside of your committee, e.g. by an accountant.
Once the accounts are audited ensure that they are made available for your members locally. This could be on your website, via a newsletter, email etc.
Do you employ anyone and do you know your tax obligations?