Finance
Finance Policy
Milford Pumas YFC is a not-for-profit organisation which exists in order to provide football activities and opportunities as set out in its General Statement of Purpose and its various policies. It charges its members a registration fee and will also charge players a match subscription. It seeks to achieve its objectives whilst maintaining players' registration fees and other charges at as low a rate as possible without compromising the financial viability of the Club. Accordingly, the financial policy of Milford Pumas YFC is to:
- appoint a Treasurer to exercise such control over financial matters;
- produce an audited set of accounts in respect of each financial year and to receive regular reports in respect of the Club's financial position;
- use volunteer unpaid helpers;
- set reasonable controls and procedures in force to ensure the proper accounting and control over income and expenditure (recognising the voluntary and unpaid nature of the officers);
- maintain balances or reserves only at a level suitable for the financial circumstances of the Club;
- to maximise income from sources such as: subsidy, grant, sponsorship or donation;
- collect all income due to the Club in the form of registration fees, match subscriptions, fines and reimbursements from players/parents;
- undertake fund-raising events as necessary;
- minimise unnecessary expenditure without compromising safety;
- pay expenditure due from the Club promptly;
- use and control its assets and resources wisely and seek to prolong their useful lives; and
- require reimbursement from Committee Members for any expenditure arising from actions by that Member for which that Member is not authorised.
The Committee will consider cases of financial hardship from prospective players and may, at its discretion, make individual financial arrangements in respect of that applicant.