Curling Club Operations

Transcription

1 Curling Club Operations The Business Side of Things Presentation by Leslie Kerr

2 AGENDA 1. Finances 2. Meetings 3. Planning 4. Grants

3 Finances

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5 Computerized Accounting Ease of Information Reports are Easily Generated Employee Information Inventory Records and Tracking Projects Information is current Issue of invoices, cheques, receipts

6 What do we keep track of? Revenue Expenses Inventory Liabilities Equity

7 Good Financial Practices: BUDGET Why? Is a plan of action in monetary terms and a management tool for financial control. The process of developing a budget offers the club insight into programs, services, activities, and expenditures Provides board and staff with direction for spending money Reflects the operation s realistic goals and objectives Is a process based upon broad organizational input

8 Good Financial Practices: BUDGET How? Prepare prior to the end of the fiscal year. Be realistic and reflect the current and preferred state of the club Create based on a business plan for the coming year Can be as simple as an excel spreadsheet or a computerized accounting program statements Should not change through the year.

9 Good Financial Practices: Financial Statements Profit and Loss Statements Balance Sheet Inventory Budget

10 Reviewing Financial Statements: Presented and approved at a monthly Board or Executive meeting Should be comparative to the budget. Variances should be noted monthly. Should include a Profit and Loss Statement (revenue and expenses) and a Balance Sheet (assets and liabilities) Can include a Cash Flow projection for the coming month/period.

11 What to look for Any major discrepancies Between income and expenses Between budget and actual Unusual Expense or Liability amounts Unpaid accounts payable Unpaid government obligations Expenses that are not normal Any abnormal fluctuations From month to month In activity

12 Inventory: Conduct an annual inventory of all assets Necessary for insurance, financial applications, planning of future purchases Conduct regular inventory of bar and/or food items. Never to be done solely by the person who is responsible for the bar or food services Done on a regular basis depending on volume (minimum once a month)

13 Financial Controls Deposit funds on a regular basis Ensure receipts are issued for all incoming funds, use a cash register if possible Have a limit that the bookkeeper can spend without authorization Ensure Petty Cash is checked periodically, not by person who controls it Ensure forms/payments are remitted on time Reconcile bank account monthly

14 Financial Controls: Cheques NEVER pre-sign cheques Have at least two signers required per cheque, not both being employees Ensure that the cheque is accompanied by the appropriate documentation ABC Curling Club Authorization for payment Date: To: Invoice #: Cheque #: Authorized by:

15 Accountability and Liability You are accountable to your members, employees, funders, sponsors, government You may be liable for any incidents where due diligence has not been taken. Directors and Officers Insurance does NOT cover stupidity or negligence. Go to Steve Indig s session: Legal Liability and Board Responsibility!!

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17 Meetings

18 Regular Meetings Monthly Executive / Board meetings Agenda: 1. Call to order 2. Approve Agenda 3. Approve previous minutes 4. Business arising from previous minutes 5. Reports of Committee Chairs and/or Staff 6. Approval of reports (especially financial report) 7. New Business 8. Adjournment

19 Special Meetings Annual General Meeting: Must be held annually Appropriate notice must be given to members (as dictated by the bylaws) Agenda should be as dictated in the bylaws Special General Meeting: Can be called at any time during the year but appropriate notice must be given Called to approve a major change or report on something extraordinary (ie. bylaw changes or major policy change that affects the membership)

20 Planning

21 Good Planning Practices Strategic Planning: The process made by an organization to define goals and determine the actions required to achieve those goals Should be a 3-5 year plan Review the plan annually

22 Good Planning Practices Business Planning: Use the Strategic Plan to establish an annual Business or Operational Plan. Review the plan monthly Hold the people tasked with actions accountable

23 Strategic Planning Human Resources (paid or unpaid) Programs and Services Capital (Infrastructure planning) Governance Membership Finance Other

24 Planning: Strategic Planning Process What is the desired state of the club in 3-5 years? Analysis: Where are we now in relation to that desired state? Implementation: What do we need to do to achieve the desired state? Who is going to do it? When - what are the timelines? Monitoring and Evaluation: Are we getting there?

25 Planning and Analysis Plan: The club will have $25,000 in reserves for a new roof in 2019 Analysis: No reserve currently and no plan to achieve one

26 Implementation Implementation: Establish a member surcharge that is reserved for future capital expenses Hold Fundraising activities to grow fund Who: Finance Committee will set policy and implement fee Fundraising committee When: Annually as part of membership dues At least once annually

27 Monitoring and Evaluation Review Monthly and Annually What s working? What needs to be modified? Is everyone doing what they have committed to? Are we in sync with our timelines? What can we report on? (communication to members etc.)

28 Grants

29 Grant Writing What you need to know (Excerpt from presentation at CC Summit by Ron Hurtubise) What do funders want? Outcomes Outcomes Outcomes Good outcomes are Specific Measurable Logical Easy to Understand

30 Plan Research the funder s guidelines, funding parameters Evaluate your project s eligibility Relationship building Develop outcomes starting point for planning Evaluate sustainability

31 Write Stick to the funding guidelines Write in 3 rd person ALWAYS Be concise easy to read, subheadings Don t use jargon or acronyms Parrot funder s words (ie. if it is a Growth program, use the word growth)

32 Review Proofread Ask Funder for feedback Use a consistent voice (if there are multiple contributors) Don t reuse; REWRITE

33 Funding Organizations: Curling Canada C.A.P. fund: Ontario Trillium Foundation: Ministry of Tourism, Culture, and Sport: Northern Ontario Heritage Fund Corp: Government of Canada: Local Businesses and Municipal Governments, especially Tourism related departments

34 Thanks for Taking Time to Invest in the Future of Curling In Ontario!! For more information, contact: Leslie Kerr