All management activities in a football club should aim to adopt best practices in financial management. After all, the club's future is dependent on its financial viability.
All football clubs, no matter their size, need sound financial planning to recover from the COVID-19 period, and to maintain financial flexibility through 2021 and beyond.
Some important financial topics to consider are:
1. Record Keeping - In the midst of club finances under stress due to the COVID-19 pandemic, monitoring cash flow of the club is a most important element of financial management. Your club may have carried over membership fees paid last year to this year or perhaps deferred some bills. Keeping a close eye on the club’s cash requirements – what is coming in and what is going out, even down to weekly basis, will ensure the club is well prepared for a successful season.
2. Delegation & Authorisation - It is good practice for a club committee to have documented authority levels for people within the club who may deal with external parties on the club’s behalf
3. Cashless Payment Systems - There are now numerous cashless payment systems out there that are quite cost effective, portable and are often deposited into your club bank account the next day. They might even increase club revenue, giving people the convenience of using their card across your club.
Helpful links
Financial Management Overview - All football clubs should aim to adopt best practices in financial management.
Treasurer – Role & Responsibilities - Helping to enable an accurate, true and correct understanding of the financial status of the club at all times.
Templates & Resources - These templates have been provided as a guide. Please edit and adjust them as needed to suit the needs and requirements of your club
Small Business Digital Adaptation Program – Victorian clubs can apply for $1,200 rebate to access digital products, tools and training to help build digital capability in their day-to-day operations. This could include paying for accounting software like Xero, website platforms like Squarespace and online payment systems like Square Readers.
