Club Finances

Club Finances

Sport cannot operate without financial support. An effective community sport association will guarantee the delivery of its programs by ensuring the association’s budget is accurate, the money is raised appropriately, and any shortfalls are addressed.

Financial Management

Financial management is a responsibility of all community sport associations. It means controlling and directing the associations’ financial resources through:
  • Budgeting
  • Purchasing
  • Accounting
  • Reporting
  • Fundraising
A budget is a monetary plan. It is a forecast of revenue and expense over a future period, usually one year. A community sport association should develop an annual budget for its members to review prior to the beginning of any fiscal year. The budget is usually developed by the president and treasurer. If your association is getting started and needs help, ask your sport branch for assistance.