Rugby League

Financial Management

The financial policies should be appropriate for your Club and, whilst these may differ slightly from Club-to-Club, they should include:  

  • Planned budget and long-term forecast which is aligned to the strategic plan.
  • Controls on expenditure - who can spend how much and on what.
  • What expenditure needs special permission.
  • Limitations on credit card use.
  • Controls on travel and subsistence - when and what expenses can be claimed by staff and volunteers.
  • Banking - how income is banked, who can authorise direct debits and how bank accounts are reconciled. 
  • Procurement - how a Club ensures that effective competitive procurement processes are in place.
  • Reserves - target levels and how these will be monitored.
  • Accounting software used, password protocols and back up procedures.
  • Management accounts, frequency, timeline and level of detail required.
  • Cash handling procedures, including limitations on cash in safe or private dwelling.
  • Record keeping, including the fixed asset register (if applicable) and depreciation policy, debtors' policy, accruals policy.
  • Audit requirements.
  • Insurance obligations and requirements.
  • Membership fees should be regularly reviewed.
  • Financial policies are communicated to relevant people across the Club.