MANAGING YOUR FOOTBALL CLUB'S ACCOUNTS.
Club finances should be managed and administered by the Club Treasurer. It is important to ensure that income exceeds or at least matches expenditure and that adequate records are kept.
It's important for Clubs to raise funds to cover essential expenditure such as Club Affiliation fees, League membership fees, pitch hire charges, kit and equipment.
The Club Treasurer has a key role to manage Club finances and accounts, and should think about the following:
- All Clubs should operate a separate bank account for the transaction of Club business, which should be registered under the Club name.
- Any cheques or withdrawals should require a minimum of two signatures from committee members. When a new Club official with the authority to sign cheques is appointed, the bank must be notified immediately and a new bank mandate must be completed.
- Clubs should think about setting up a subscription rate for players and members to meet your costs for the season.
- Any petty cash should be balanced against receipts. A cash book and all vouchers must be retained by the Club for at least two seasons preceding the current season to be available to Birmingham FA whenever required.
- A financial statement must be prepared, which must be verified each year by an appropriately qualified person. A copy of the financial statement shall, on demand, be forwarded to The FA.
- Every member of the Club is likely to be a joint owner of any assets of the Club, but also jointly liable for all or part of any debts. Clubs should therefore consider suitable insurance.
- It is also important to make provision for how any cash, kit, or other assets will be dealt with if the Club ceases to exist.