Financial Planning

Financial planning and management can seem daunting but once it’s worked out what needs to be done and who’s the best person to do it, you’ll find its common sense.
 
Good financial management is essential for your club’s survival and is an important part of good governance. It involves being able to
 
  • Review financial information,
 
  • Effectively manage funds,
 
  • Implement sound financial practices and
 
  • Understand your club’s financial position and obligations
 
If the financial ‘nuts and bolts’ are in place, your club will run smoothly and achieve its goals.
 
 
A starting point to gaining good financial management is below
 
  1. Have you appointed an effective treasurer?
 
  1. Have you established the right accounting system for your club? 
 
  1. Have you opened the appropriate banks accounts for your club? 
 
  1. Has an annual budget and cash flow forecast been written?
 
  1. Has an auditor been appointed, if appropriate? (check the requirements in your club or associations constitution)
 
  1. Has the Association or club acquired the appropriate insurance? 
 
  1. Has the Association or club registered your club for an exemption from GST (if applicable)? 
 
 
Please find below a list of resources that will assist you.
Please contact your appointed SNZ Softball officer for further assistance with the creation or the processes for any of the above 
Resource or link Description
IRD Smart Business
http://www.ird.govt.nz/forms-guides/number/forms-300-399/ir320-guide-smart-business.html
 		 A guide to tax obligations, record keeping and income and expenses for businesses and non-profit organisations.
Setting up a charitable Trust
http://www.charities.govt.nz/setting-up-a-charity/organisational-structure/		 Information on and for non profit organisations. This link provides information to help you understand the different legal structures available to groups wishing to create a new Charity, run or wind up a charity.