EVERY CLUB SHOULD PRODUCE A SET OF ANNUAL ACCOUNTS
The Role of the Club Treasurer
Every Club needs to have a Treasurer who is appointed at the Annual General Meeting. Club treasurers do not have to be qualified accountants but they should be people who are well organised, good at record keeping, careful when handling money and confident when handling and presenting figures. They need to be scrupulously honest too!
Among other things the Club Treasurer needs to check club income frequently (such as match fee income and annual subscriptions) and take action where necessary if debts are building up. The Treasurer is also responsible for making sure the club pays its bills on time. It is a good idea to give team captains accounts sheets to be completed after each match recording fees collected and payments made (for example match official fees).
Club accounts should show opening balance, income, expenditure and closing balance.
These accounts should be prepared by the Club Treasurer and presented at the Club’s Annual General Meeting as part of a Financial Report which should be accepted and agreed by the Club members. A financial statement must be prepared and it is good practice to have the statement verified each year by an Auditor appointed at the Annual General Meeting (although most grassroots clubs are not legally obliged to have their accounts audited).
Every member of a club is likely to be a joint owner of any assets of the club and they are also jointly liable for all or part of any debts. Clubs should therefore consider suitable insurance against losses. It is also important to make provision for how any cash, kit or other assets will be dealt with if the club ceases to exist.
When required to do so by the County Football Association with which they are registered, Competitions and Clubs must provide a copy of the minutes of their Annual General Meeting and a copy of the Annual Finance Report, Balance Sheet and Statement of Accounts.
download club accounts template here
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