The financial management of a club is by far one of the most important areas in the running of a bowls club.
No matter the size of the club, it is vital that all the club’s finances are managed in a responsible way and that includes having all the necessary insurance required in place.
Responsible financial management includes, but is not limited to, proper record keeping, systems of control and reporting to the Board and its members.
Given the importance of this area is it highly recommended that a person with an accounting or financial background carries out the role of Treasurer.
While your bowling club is likely a not-for-profit organisation, it is as equally a not-for-loss organisation.
The only sustainable way to accumulate and maintain sufficient financial reserves is for the club to avoid operating at a deficit.
To avoid this, the club’s board/committee should ensure adequate controls and reporting systems are in place to understand and monitor the club’s operations, risks and finances.
To compliment operations, the board/committee should also have a good understanding and management of the club’s value proposition (how much members are prepared to pay for services), membership pricing structures and other major sources of revenue including green fees and hospitality (food and beverage).
Also, it should look at ways to diversify revenue to reduce its dominant dependency on membership fees.
Setting a budget and monitoring your Club’s performance against budget is vital to running an efficient business.
We’ve enclosed a template below that can help you draft a budget and review performance.
Strategic / Business Planning
Successful clubs and associations plan. It is the most effective way to sustain, improve and develop your club or association and map out a better future.
Bowls Australia has a range of policies and you can find the full list by clicking on the following link:
Bowls Australia policies apply at all levels of the sport, however clubs, associations and all other entities within the sport are strongly encouraged to develop and implement a full suite of policies to safeguard your club from possible issues and encourage sound governance practices.
Risk management is a very important part of responsible management of any organisation.
As well as needing adequate insurance to protect the club and its members, managing existing risks is essential.
The documents below provide information on how to identify, analyse and control risk.