What’s in your club’s wallet

1. September 12, 2011 Please Sign In! What’s in your club’s wallet

2. 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

3. Learning Objectives • 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

4. Budget Overview • 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!

5. Why Use a Budget • Planning (Short and Long Term) • Purchases • Equipment • Marketing Materials • Fees • League/Conference dues • Coaches/Instructors • Officials • Travel • Transportation • Tournament Fees • Organization • Keep an up-to-date record of all income and expenditures

6. Goals and Needs • 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

7. Goals and Needs - Examples • 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) • 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.

8. The Books • 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?

9. The Books continued…. • Filling in a Ledger

10. Budget Management • 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

11. Income Management • Track all Income • 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

12. Creating a Budget

13. The Budget Meeting - Dress • Business Professional • Make a Great First Impression • 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)

14. The Budget Meeting – Presenting • 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 ummumms • Act professional • Sell your club to them, make them so interested they want to join • Show your passion!!!!!!!

15. Activity – Working with Budgets • 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