2010 Treasurer s report

Transcription

1 2010 Treasurer s report In 2010 we introduced a number of initiatives to make it easier to pay fees, reimburse expenses, make communication easier and ensure continuity from one committee to the next. These included: Debit & credit card payment for fees. This facility cost around $450 Set up online access to the bank accounts to enable electronic funds transfer to creditors including team managers Opened an account with Clickatell, a web based SMS facility which was used by the committee and some team managers also chose to use the facility to communicate with their teams Opened a post office box at Five Dock and established a gmail account for the club. Equity RLWSC s finances are in a healthy state at the end of the 2010 season. A comparison since we joined CDSFA in 2006: Players Teams Total Equity $7,000 $3,900 $10,000 $6,000 $13,350 Target equity is around $8,000. This is the approximate cost to replace all our field equipment nets, benches, corner posts, benches, ropes, mini s goals etc. The growth in equity this season has been due to unbudgeted profit from uniform and canteen sales. The committee will use these surplus funds to buy office equipment to help with registration (laptop, printer & camera), training of coaches and referees and additional training equipment for next season. Income The club s main sources of income are fees, profits from canteen & uniform sales and grants. Fee income was $62,194 and unpaid fees reduced from $5,400 in 2009 to $241 for 2010 season. Fee collection is an incredibly onerous task for the Treasurer and the Committee will be looking closely at our registration procedures for 2011 including introducing a policy that player cards will not be issued unless all fees are paid & all relevant paperwork has been completed so if you paid by instalments this season, start saving for It was pleasing to see the canteen return to profitable operation this season after a disappointing 2009 season which was marred by break-ins. Thanks to John McIntosh for stocking the canteen and to John Elliott for purchasing the snags and rolls most weeks. Profit from canteen operations was $4,500 and thank-you to all those parents and players who took their turn manning the canteen. Uniform profit was $2,100 RLWSC received grants from o Canada Bay Club (CDSE) used for Equipment Purchases: $3,000 o Woolworth s Fresh Food to purchase Mini s goals $2,000 o City of Canada Bay Council for SSG equipment $1,000 $6,000 The club opened an online saver account midway through the year and this account is currently earning around $60/month

2 Expenses Major expenses are CDSFA/Football NSW registration, ground hire, referee fees, equipment and team kit Registration and other CDSFA expenses were $28,000 Ground Hire was $9,400 most of which is for lights. Of that amount, some $2,500 was for paid to council for the 25 evenings during the season where QEP was closed. The committee will be approaching council for a credit for that cost. Of those 25 evenings, all grounds were closed on ½ of those and on the other ½, some fields were open but not QEP. The spread between Tuesday, Wednesday and Thursday evening was even, so there s no best evening to train at QEP! Referee fees were $6,575. On the Half fields teams had referees at about 25% of games, so thank-you to the parents that volunteered to fill that void. For U12-U17, the strike rate was around 56% (typically a referee and maybe an assistant referee sometimes) and for seniors, slightly higher at 65%. Equipment expense was just over $10,000 which included new field equipment for minis and SSG which were new formats for RLWSC this season. With a nearly 30% increase in player numbers, expenses included new equipment as well as replacement. We spent $1,500 on jerseys this season mainly kitting out new teams. Next season, we hope to modernise the RLWSC strip, subject to finding a sponsor to support this expense. So if you know any-one who has a business that would like to align itself with an all women s soccer club with 18 junior teams and 6 senior please get in touch with the sponsorship committee or the President. Sustainable Operations Clubs seeking affiliation with CDSFA for 2011 will be asked to submit annual reports including audited accounts showing they are financial as ongoing concerns. RLWSC is well placed to demonstrate this to CDSFA. This season, RLWSC has taken a medium term view to setting fees. Players pay fees annually but expenses occur in peaks and troughs from one season to the next. In our estimate for expenses we assumed that team kit and training balls & some match kit are replaced on average bi-annually and other items in the match kit each year. However, it may be that for example, ¼ training balls are replaced one season and ¾ the next, so ¼ of the budgeted amount would be carried forward for the next season. This season we have carried over $6,750 for uniforms, training and match kit We have also set up a provision to replace field equipment and canteen equipment assuming these items have a 5-10 year lifespan. Without this provision, future committees may struggle to find funds to replace broken gear immediately so that play at QEP is not disrupted. This season s provision is $700. The other provision in the accounts is for training of coaches. We budgeted to spend $1,000 on training this season. 3 coaches obtained their Junior Licence and 3 others attempted to but were foiled by bad weather in June. We did want to bring in a specialist to give coaches one on one advice but we weren t able to make that happen this season. For any initiative undertaken by RLWSC to be successful, it needs a volunteer to champion it. We don t have any paid employees that the committee can delegate tasks to so any great ideas will only happen if some-one steps forward and takes ownership. This season, with most of the committee being new to their role, we were stretched to the limit just doing the core functions of registration, forming teams, running the ground every week, banking, monitoring the finances and managing incidents so extras like web site, coach training etc were done at the most basic level. Jenny Hart

3 Russell Lea Women's Soccer Club Inc PO Box 610 FIVE DOCK NSW 2046 Balance Sheet 18/09/2010 3:13:45 PM As of August 2010 Assets Cash on Hand General Cheque Account $4, Undeposited Funds $1, Online Saver $15, Total Cash on Hand $21, Debtors Debtors $3, Total Debtors $3, Inventory Inventory - Uniform Stock $2, Total Inventory $2, Total Assets $27, Liabilities Current Liabilities Prov'n for Operating Expenses $5, Prov'n for General & Admin Exp $ Prov'n for Equipment Exp $7, Provision for Canteen Exp $ Total Current Liabilities $13, Total Liabilities $13, Net Assets $13, Equity Retained Earnings $6, Current Earnings $7, Total Equity $13,353.05

4 Russell Lea Women's Soccer Club Inc PO Box 610 FIVE DOCK NSW 2046 Profit & Loss Statement 18/09/2010 3:12:42 PM 1/09/2009 through 31/08/2010 Income Registration Fees $64, Registration Fee Refunds -$2, Uniform Sales $5, Canteen Sales $8, Sponsorships $6, Ground Hire Sublet $1, Interest $ Total Income $84, Cost Of Sales Cost of Sales - Uniforms $3, Cost of Sales - Canteen $4, Total Cost Of Sales $7, Gross Profit $77, Expenses Operating Expenses Ground Hire-QEP $9, CDSFA Registration $21, CDSFA Team Entry $3, CDSFA Other $1, CDSFA Bond $1, Referee Fees $6, Trophies $3, Presentation Day $1, Gala Days $ Total Operating Expenses $49, General & Admin Expenses Advertising $ Bank Charges $ Meetings $60.00 Office Supplies $41.07 Printing $ Postage $ SMS $ Telephone $59.95 Regulatory Compliance $18.00 Training $1, Volunteers Amenities $ Total General & Admin Expenses $2, Equipment Expenses Canteen Equipment $ Field Equipment $1, Office Equipment $14.82 Training Equipment $6, Match Equipment $3, Team Uniform $5, Total Equipment Expenses $17, Canteen Expenses Kitchen Supplies $86.85 Total Canteen Expenses $86.85 Total Expenses $70, Net Profit/(Loss) $7,084.73

5 RUSSELL LEA WOMEN'S SOCCER CLUB Notes to 2010 Financial Report Fee Revenue Analysis Full Fees for all players $63,430 Undercharges $1,236 Actual Fee Revenue $62,194 Reasons for Undercharges No Value Reason Undercharge (U10 & U11) 26 $520 Error in Fees list on 7th Feb Undercharge (U8) 8 $120 Error in Fees list on 7th Feb Playing up Age Division 5 $150 To balance teams, registrar moves players up an age division Debtors (part paid) 3 $ season estimated ounpaid fees was $5,385 Very Late Rego 1 $105 Registered end May to replace injured discount rate 4th Child (free) 1 $100 As per fee schedule $1,236 Refunds 10 $2,105 Decided to cancel registration due to : Pre existing injuries, couldn't train on team night, no suitable team, decide that they were over committed on further reflection Grants & Sponsorships Canada Bay Club $3,000 Woolworths $2,000 City of Canada Bay Council $1,000 $6,000 Uniform Stock Estimate Units Opening Purchase Sale Closing Opening quantities as per Anna Rowntree 25/1/10 Shorts Socks Shorts $2, $ $1, Socks $ $ $ $2, $ $2, Trading Profit Revenue COGS Profit Canteen $8, $4, $4, Uniform $5, $3, $2, $6, Season Income received after 31 August Sponsorship (Council) 1, Sydney Uni 1, Registration Fees , Season Expenses payable after 31 August Ref Fees Balls Trophies 3, Gala Days COGS Canteen Gas Bottle Tape for Goals Presentation Day Disco Presentation Day Jumping Castle Presentation Day Food , Provisions for Sustainable Operation 2011 Uniforms 3, Training Equipment 2, Match Equipment 1, Coach Training Canteen Equipment Replacment Fund Field Equipment Replacment Fund , Total Liabilities on Balance Sheet 13, Financial Report.xlsx Page 1 of 1