CISTEOIR GAA CLUB OFFICER PROGRAMME

Transcription

1 CISTEOIR GAA CLUB OFFICER PROGRAMME 1

2 CLÁR Introduction Duties of an Cisteoir Records and Reporting Duties at the AGM Budgeting Financial Planning Tax Relief on Donations Workshop. 2

3 1:INTRODUCTION An Cisteoir is responsible for: The safe-keeping of the funds of the Club in conjunction with the Chairman and Secretary Ensuring that the personal property of the club is protected. Organization and management of the Club finances Note: The treasurer must not commit the Club to any expenditure for which prior approval has not been given. 3

4 Qualities of Treasurer 1:INTRODUCTION A Planner An Organiser A Controller A Recorder A Reporter Ideally chairman of Finance Committee Assist in organising fund-raising Day-to-day cash receipts & disbursements Accurately record all financial transactions Provide Executive with financial information Note: Does not have to be an accountant, but must have the ability to keep accurate records 4

5 2:RESPONSIBILITIES Main Duties Receive money on behalf of the Club and collect all fees due Pay money out on behalf of the Club Lodge all monies to the Club accounts Keep a record of all transactions and enter into appropriate books Forward through An Rúnaí appropriate fees to appropriate bodies 5

6 2:RESPONSIBILITIES Main Duties (continued): Present up to date financial statement to each Club Executive Prepare annual statement for members - AGM Give the club ample warning of impending financial difficulties Ensure that all tax requirements are met, where applicable Ensure that the club has tax exemption. Note: Clubs in 6 Counties applying for CASC consult Ulster Council 6

7 3:RECORDS AND REPORTING Club Accounts - Cheque Book and Bank Statements The club must open a bank account (R 11.1) All cheques drawn must be signed by the treasurer and co-signed by the Secretary or Chairman (R 11.1) Note: Cheques should not be pre-signed To ensure accountability, all financial transactions in the club should only take place by cheque 7

8 3:RECORDS AND REPORTING Club Accounts - Rule 11.2 The Executive Committee shall cause proper Books of Account to be kept in respect of:- (a) (b) (c) All sums of money received and expended by the Club, and the matters in respect of which such receipts and expenditures take place; All Sales and Purchases of goods by the Club The Assets and Liabilities of the Club. 8

9 3:RECORDS AND REPORTING An Cisteoir should keep the following record books: - Income Record book - Payments Book - Invoice Book - Receipt Book - Notebook in which to enter monies received at matches, meetings and functions etc. 9

10 3:RECORDS AND REPORTING Keeping Records Make payments by cheque and retain cheque stubs. Pay nothing using cash! Retain all bank statements and ensure that cheque numbers correspond to those on the bank statement. All Bank statements to be forwarded to an officer other than cheque signatories 10

11 3:RECORDS AND REPORTING Keeping Records - Continued Use a lodgement book for all lodgements into the account. Enter transactions in Income and Expenditure Books. Give receipts for cash received and get receipts for cash paid out. Keep receipts on file. 11

12 Club Executive meetings. 3:RECORDS AND REPORTING The financial report to all Executive meetings should include the following details: - Income - Expenditure - Bank Balance(s) with statements reconciled - List of accruals & prepayments (where appropriate) - Details of investments & bank loans (where appropriate) - Financial Commitments 12

13 4:DUTIES AT THE AGM 1: The main duty of the treasurer at the AGM is to prepare an Annual Financial Statement and Balance Sheet (Rule 11.8) 2: Report placed before the AGM for consideration 3: Copy of financial statement should be forwarded to clubs members prior to AGM (R 8.5.3) 4: It is recommended that Annual Accounts should be audited independently. 5: Financial statement to be approved by the Executive Committee prior to AGM, and signed by two of three officers Chairman, Secretary and Treasurer (Rule 11.7) 13

14 4:DUTIES AT THE AGM The financial report presented to the AGM must include the following: - Income - Expenditure - Bank Balances with statements reconciled - List of accruals and payments - Debts. - Details of investments and bank loans 14

15 4:DUTIES AT THE AGM Income and Expenditure Account Schedules Summary Previous Year Current Year Amount Amount Income for 19xx Expenditure for 19xx SOURCE OF INCOME 1 Gate Receipts 2 Membership 3 Commercial Income 4 Grants received 5 Fundraising activities 6 Financial Income 7 Contra Receipts 15

16 4:DUTIES AT THE AGM Income and Expenditure Account Expenditure: Insurance and Public Liability Affiliations and Registrations Team Expenses Administration Expenses Repair & Maintenance of Club Facilities Medical Expenses Prize Fund Expenses Coaching & Games Development Contra Expenses Excess of Income Over Expenditure 16

17 Benefits of Budgeting: - Encourages future planning 5:BUDGETING - Difficulties will most likely occur when least expected - Measures performance i.e. Are we overspending or raising enough cash. Note: - Plans must be co-ordinated i.e. between current & capital expenditure - Must be realistic - Must be approved by Club Executive 17

18 5:BUDGETING Preparing a budget: - Identify income/trends over previous three years - Identify the financial needs of the club - Estimate income/expenditure in those areas during the coming year - Make provision for expenditure in new areas - Initiate fund-raising schemes - Set financial targets for the club 18

19 5:BUDGETING Income Planning Club should select personnel to work with the Treasurer to devise an Income Plan, preferably finance sub-committee Sample Income Headings - Sponsorships - Membership - Development draw, Lotto draw income - Commercial income (rents, bars, functions etc.) - Other 19

20 5:BUDGETING Sample Expenditure Headings Insurances and affiliations Team Expenses, Playing Equipment Medical Expenses Pitch maintenance Administration costs, Bank Charges, Stationery etc. Physical Development Other 20

21 6:FINANCIAL PLANNING Capital Projects Before any Capital Development Project is undertaken or contracted by a Club, the Project and financial plan must be approved by the superior Unit (Rule 10.2) 0-50,000 County Committee 50,000 to 150,000 County + Provincial Committee 150,000+ County + Provincial + Central Council 21

22 6:FINANCIAL PLANNING Bank Loan Application - What is required? Income and expenditure accounts Authorisation to borrow from County Board / higher body Audited accounts (previous 2-5 years). Independent signing of accounts Balance sheet. Cash flow forecast for repayments The Club Constitution 22

23 6:FINANCIAL PLANNING Preparation of Cash Flow Forecast There are four distinct stages: 1. Establish expected cash inflow 2. Establish expected cash outflow 3. Compare inflow with outflow and establish the net position 4. Add the opening cash balance to establish the net cash inflow or outflow for the period in question 23

24 6:FINANCIAL PLANNING Sample Plan Receipts Jan Feb March Lotto 1, ,200 Fundraising Membership Dev. Draw 1,000 1,000 1,000 Total Receipts (A) 2,700 1,900 2,800 Payments Hurleys ,600 Medical 400 Insurance 1,000 Maintenance Total Payments (B) 1, ,250 Net Cash Inflow (A - B) (C) 1,200 1, Opening Balance (D) 1,000 2,200 3,450 Closing Balance (C+D) 2,200 3,450 4,000 24

25 7:FUNDRAISING. What to do Take account other projects in the area Consider how the project is marketed Proper planning of the initiative is critical Set realistic goals - monitor and review Try to be innovative Show appreciation of effort Note: Fundraising seminar available to all counties 25

26 Qualifying Criteria Club: 8:TAX RELIEF FOR DONATIONS Club must have a tax exemption certificate Club must have a tax clearance certificate Donations: Only donations for a specific approved project will qualify for tax relief Note: Donations to underwrite general running costs not included 26

27 8:TAX RELIEF FOR DONATIONS Donation must be Greater than 250 Not be otherwise tax deductible Unconditional and non-refundable Made by an Irish tax resident Note: Project must involve construction of a club facility or purchase of additional grounds 27

28 WORKSHOP 28

29 WORKSHOP - EXPENDITURE Workshop Questions - Chart Exercise 1:What are the main expenditure items in our clubs? 2: How can we help contain spending on these items in our clubs? 29

30 WORKSHOP - FUNDRAISING Workshop Questions Chart Exercise 1: What are the most effective fundraising projects? 30

31 WORKSHOP CLUB AND COUNTY Workshop Questions Chart Exercise 1: Identify the Importance of the County Committee and Clubs working together for mutual financial benefit 31