Monitoring income and expenditure is crucial to a club’s overall sustainability. They allow the club to keep an up to date record of all money coming in and out of the club and to understand in what areas the club spends money and what areas it receives money.
This in turn allows the club to plan ahead, and ensure it meets all its financial obligations whilst still providing football for your members and all the associated costs with this such as; kit, equipment, pitch fees etc.
Clubs should be aiming to try and get money in such as membership fees as early as possible over the course of a season whilst money going out should aim to be spread out across a longer period. This allows the club to have finance available to operate daily, develop and deal with any unexpected costs.
Being transparent with your members is a great way to build trust and loyalty. By keeping up to date accounts the members can be kept up to date with the club’s financial position and can see where their subscriptions are being spent. A great way to do this is to have a financial report on each club committee meeting and share the minutes from the meeting with all club members.
Each season the clubs Annual Accounts should be shared by the treasurer and approved by the club’s committee at the Annual General Meeting.
We have two templates available for clubs to utilise, the basic club accounts are only recommended for clubs with one or two teams for clubs larger than this we recommend that you utilise our ‘recommended’ annual accounts.
Managing your money is an essential part of good club management.
Club Matters provides free, convenient, practical resources to help organisations to develop, grow and become more sustainable and successful