Finance & Funding

Treasurer

Budgeting

Cashflow Forecasting

Accounting Record System

Financial Risk Management

Asset Protection

Tax & Reporting Obligations

Grants

Sponsorships

Fundraising

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Financial Risk Management

The treasurer is responsible for ensuring the club’s finances are protected against risk through policies, procedures and financial controls.

POLICIES AND PROCEDURES

Policies state the rules or principles of the club’s accounting and financial practices. Procedures are the instructions that outline what people must do to abide by the policies.

The club should consider financial policies and procedures for situations like how to handle petty cash, quotes required for large purchases, authority for purchases and debt collection.

The Institute of Community Directors Australia have a rage on template policies available for use.

ACCESS

Restrict access to accounting systems, cash storage and bank accounts to volunteers who require access to perform their duties. This will make it easier to find the responsible person should something go wrong.

CHECKS

Regularly check the club accounts and accounting system. Complete regular reconciliations of bank accounts and budget actuals and follow up on any discrepancies.

SUPERVISION

Consider requestion police checks from volunteers who will handle large sums of money or who have access to accounts.

Also, consider measures that divide responsibility among volunteers e.g. a volunteer receiving the cash should be a different person who is doing the cash reconciliation at the end of the day to reduce the likelihood of fraud.

 

 Tips and Strategies to Protect your Club's Cash and Assets

 TEMPLATE Financial Transation Card Policy

 TEMPLATE Petty Cash Policy

 TEMPLATE Reimbursement Policy

 TEMPLATE Sponsorship Policy

 TEMPLATE Fundraining Policy