The following checklist can assist a club in managing it's finances through ensuring adequate security processes are in place, reporting is consistent and provide new methods of collecting and managing club funds and resources
✔ Club has a defined annual budget and cash flow projection. Does your club spending reflect this?
✔ A Regular financial report is provided by the treasurer to each meeting. Keeps committee well informed and ensures emerging issues are identified well in advance.
✔ The Club has an online accounting system to manage finances:
- Saves Time
- Reduces the risk of misplaced funds
- Assists with new incoming treasurers
- Easy reporting
✔ All funds received are receipted. This reduces risk of misplaced funds and ensures funds can be tracked.
✔ Payments by the club have an approval process (approved by 2 people, receipted and recorded appropriately)
✔ Cash registers are balanced. Ensures money is tracked and reduce the risk of theft or misplaced funds.
✔ Registers are cleared regularly during events. Ensures large amount of cash isn't in one place for too long.
✔ Clubs cash stores are secure. E.g. In a Safe
✔ There is 2 people present when counting cash. Reduces risk of miscalculation and theft.
✔ Cash amounts banked and all receipts are accurately recorded in clubs accounting system. Improves tracking
✔ Majority of funds are collected electronically (EFTPOS or online) i.e. memberships, apparel etc - easy to report and track, reduces time and easy for members.
✔ The Club uses online software for members to purchase tickets to events. Reduces risk of theft or misplaced funds, easy for members and easy for tracking.