Reporting for a sports charity

mrb82

Good morning members!

I have been asked if I can provide some sort of management information for a local sports club. It's only a small operation, and they currently keep all transactions on a spreadsheet, basically showing what's going in and what's going out.

This will be the first time I will be doing something like this so will be great experience, but I don't know where to start? Will it be best for me to prepare ledgers, TB and then income statement? Or shall I just group transactions together and say "this is where your cash is coming from, and this is where it's going"? By the look of it, the majority of their income is from membership fees.

I want to do this well but am intimidated by my lack of experience (I have to start somewhere though!).

Thanks if you have time to reply

deanshepherd

Assuming it is just a local sports club and not a registered charity then a simple receipts and payments account is usually sufficient for the AGM.

JodieR

I think that these things look nicer and make more sense to the members if you list the income streams on the left and the corresponding costs on the right with a 'surplus/deficit' column for each activity. But yes, i agree that receipts & payments basis will be fine.

mrb82

Thank you both. I'm quite nervous about this as want to do a good job to start my experience!

borofan20

At my local sports club a simple income and expenditure statement is all that is produced for the AGM. Good luck with your first assignment I'm sure you'll do a great job!

Hollysan

You will earn extra brownie points if you produce some notes for the Treasurer to explain some of the most important points at the AGM.... You will feel ready to do this when you have prepared the I&E.

Good luck,

Hollysan

deanshepherd

Have a breakdown of everything (full nominal ledger) to hand at the AGM. I find members have very little interest in the accounts other than 'Why are we paying so much subs when there is £5k sat in the bank account?'

However, there will always be someone who asks why court hire has gone up or why there is insurance in this years accounts but not in last years.

mrb82

Thank you everyone for your replies!

This is quite daunting as there are a lot of different transactions! How do you group them? Do you plop things in quite vague descriptions (ie General Expenses, Coach Expenses and Rents/Rates), or do you have analysis for each type of specific expense?

Odeko

Hi mrb82,

I am the treasurer for my local football club and I do the following.

I just keep a simple excel spreadsheet the rec the bank and cash pot and supply a cash flow summary at each months meeting. Just basically saying this was balance last month, this is what came in, this is what came out. The management members really just want to know what is in the bank!!

At the AGM I produce a P&L, Bal and cash flow sheet. I then give a report just saying what we did well, explain any differences and then look to see if we need to cut costs or increase fees.

As for the breakdown, this is what I do:

Income
Membership fees
Sponsorship
Donations
Events
Tea bar income
Other

Expenses
Affiliation fees
Equipment costs
Tea bar costs
Kit costs
Ref Fees
Pitch fees
training fees
Coaches training / CRB
Event costs
Fines
Other

Hope this helps you out, good luck.

Kind regards,

Ode.

mrb82

That's brilliant! Thanks!