Transcript What’s in your club’s wallet

September 12, 2011
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Announcements
 Club Email Addresses
 Club Paperwork due 9/16/11
 Schedule 1 on 1 meeting time with Clint
○ You Tube Video (Recruiting Tool for Individual
Sport Clubs and Entire Program)
 Current YouTube Channel Is Up
○ www.youtube.com/NIUSportClubs
Learning Objectives
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At the end of this workshop you will be
able to:
 Explain the importance of budget creation
and management
 Create and implement a Ledger for the
2011-2012 School Year
 Create and Implement a Club Budget for the
2011-2012 School Year
 Prepare for SA Budget Meeting/Presentation
Budget Overview
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Key points:
Budgeting is a year round process
Track all expenses throughout the year (Use of a Ledger…)
Track all opportunities – Even though you didn’t take advantage of
them (i.e. a missed tournament, a possible chance to get a speaker talk
to your team, chance to get uniforms – Mostly due to low funding.
Keep in mind when requesting money from SA, you will rarely get
100%. Do not be scared to aim higher – Just be able to justify what
you need and why.
Be prepared to work on budget before and during summer time. DO
NOT WAIT UNTIL SCHOOL STARTS TO BEGIN THE PROCESS
With proper budgeting, last minute fundraising or meeting for
supplemental funds does not need to occur!
Why Use a Budget
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Planning (Short and Long Term)
 Purchases
○ Equipment
○ Marketing Materials
 Fees
○ League/Conference dues
○ Coaches/Instructors
○ Officials
 Travel
○ Transportation
○ Tournament Fees
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Organization
 Keep an up-to-date record of all income and expenditures
Goals and Needs
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VERY IMPORTANT to set GOALS when
financial planning
GOALS should be specific, measurable,
attainable, realistic, and timely. (SMART)
• What are your needs for the year? For 5
years?
• Brainstorming – Create a list of all needs
and wants
Goals and Needs - Examples
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Example – Needs and Wants:
• New Footballs (6), New Flag Belts (12), New Uniforms (18),
University Bus for Travel to 1 Tournament, Conference Dues,
Tournament Fees (3 Tournaments), and New Marketing
Banner (1)
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Example – SMART GOALS:
• Our club will purchase 6 new footballs and 12 new flag belts
in the Fall Semester with money we fundraised in summer
2011.
• Our club will request funds for 18 new uniforms and one
marketing banner for FY13 in our SA budget meeting in Fall
2011.
The Books
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Why keep a Ledger?
 Why is record keeping important?
 What information should be recorded for all
income and expenditures?
 How long should your club keep financial
records?
The Books continued….
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Filling in a Ledger
Club Ledger - 2011-2012
Month
Day
Name
Description
Income (+)
Expenditures (-)
subtotal
$0.00
Budget Management
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Track all Expenses
 No matter the size and amount of expense
 If using SA allocated funds, be sure to follow
proper procedures
○ Expenditure Forms
○ Travel Request Form
Income Management

Track all Income
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Dues
Donations
Fundraisers
Sponsorships
Deposit into Club Checking Account or SA
Account
○ For Club Account:
 Can not use NIU in checking account name
 Must provide SA with bank statements upon request
 Club Treasurer should be filing all bank statements with
club Ledger
Creating a Budget
The Budget Meeting - Dress
Business Professional
 Make a Great First Impression
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 Dress as you would for a job interview for
your dream job.
 Dress your attitude (they will listen more, if
you have a inviting attitude)
The Budget Meeting –
Presenting
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Tips for Presenting:
 PRACTICE! PRACTICE! PRACTICE!
○ Present to someone before going into your SA
Budget Presentation Meeting
○ Know the material…not a lot of umm umm
umms
○ Act professional
○ Sell your club to them, make them so
interested they want to join
○ Show your passion!!!!!!!
Activity – Working with Budgets
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Step One – Brainstorm
Step Two – Prioritize
Step Three – Make the Choices and Justify
Them
Step Four – Record choices into
Budget/Budget Proposal
Step Five – Evaluate Budget Proposal
Step Six – Present Budget Proposal
Step Seven – Brainstorm for following year