Planning your Finances
Managing finances can be a headache for any club. But if you plan ahead, you’ll quickly and easily be able to understand your club’s financial position and commitments.
We’re here with plenty of top planning tips and we’ve even got free planning tools that you can download.
If you’re in need of any further convincing, this is why we think planning your finances is a good idea.
Planning can help:
- Support the club in developing its future direction, helping to identify what needs to be done and by when
- Others to understand the cost of running your club
- Decide fees to make it affordable for members and participants
- Track your club’s progress against your plan
- The club to take action if things go wrong
- Identify areas for improvement
- Your club to be sustainable in the long term.
There are a number of tools to help you plan ahead.
Some of these are long-term and some are short-term:
- Strategic plans (long term)
- Reserves Policy (long term)
- Annual budget (short term)
- Cashflow forecast (both long and short term)
- Capital investment plan (long term)