Napierstudents.com Introduction to your financial plan.
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Transcript of Napierstudents.com Introduction to your financial plan.
napierstudents.com
Introduction to your financial plan
Short term actions required to get the Club on the right path to achieving its long term vision
Learning Outcomes
• Students to improve understanding of club finances
• Clubs to understand the importance of a SWOT Analysis
• Students to be able to link club finances to club development plan
• Students are prepared for summer budget planning and setting of membership fees
Let’s look at club membership fee in more detail….
Task 1
Group Work
• What was your total membership income? (membership fee X member numbers)
• Discuss any further income generated by clubs? (Sponsorship / Fundraising and additional membership fees)
Comparison Between Clubs
Club Income
SportMship
No.NSA Mship
PriceOfficial Mship
Additional Mship
Sponsor/fundraising/trips
Total Income
American Football 59 £ 70.00 £ 4,130.00 Not recorded £ 1,017.95 £ 5,147.95
Football (Men) (4 teams) 77 £ 80.00 £ 6,160.00 £ 610.00 £ 180.00 £ 6,950.00
Snowsports 142 £ 40.00 £ 5,680.00
not recorded £ 5,680.00
Surf 39 £ 40.00 £ 1,560.00 £ 180.00 £ 2,000.00 £ 3,740.00
• Do you notice any differences?
Let’s look at club membership fee in more detail….
What will your club membership fees be used for?
General AreasTransportAffiliations to National Governing BodiesCompetition feesOfficials / Umpire / Referee FeesEquipment*Playing and Leisure WearStorageMedicsFinesKit MaintenanceSocials and FundraisersAdditional competition Fees (e.g. Scottish Student Sport)
* Some clubs equipment costs are high
Transport
Start Away VenueRound Trip Mileage Approx Fuel Costs
Mini Bus Costs
Edinburgh Glasgow 90 £25 £65Edinburgh Stirling 70 £20 £65Edinburgh Dundee 120 £35 £65
Average Mini Bus Costs for away fixtures
For Example = Edinburgh to Glasgow• 1 trip = £90• 10 trips throughout season = £900
Real life club examples
Sport Transport (Hire) FuelHockey (Women) 416.88£ 308.12£
Kayak 1,751.37£ 289.65£
• Varies between team fixtures and recreational clubs• Trip based clubs – training at specific venues• Clubs with fixtures – varies annually with location
Transport during the year…
Real life club examples
National Governing Body (NGB) Affiliations during the year:
Affiliation to NGB
American Football £ 1,236.50
Badminton £ 95.00
Cheer £ -
Snowsports £ -
Real life club examples
Competition Entry Fee’s during the year:
Competition Entry Fee's
American Football £ -
Badminton £ 240.00
Cheer £ 1,761.00
Snowsports £ 2,870.00
Real life club examplesReferee, umpires and officials during the year:
Real life club example Recap
• Variation of Sports – require different expenditure
• More teams can be more expensive
• Manage expectations
• Fee’s Linked to Financial Plan and Club Development Plan
Correct Membership Fee
Income+
Money Raised=
Sustainable Club
Affiliations
Competition Fees
Umpires / Officials /Support
Staff
Equipment
Additional Competiti
ons
Socials
Kit Maintena
nce
FinesPlaying and
Leisure Wear Storag
eTransp
ort
The Ideal Club
Introduction to your club development
plan
Learning Outcomes
• Understanding a club development plan
• Understanding the club development cycle
• Understanding the 6 stages of creating a development plan
Club Development Plan
• Vision for the future
• Sustainability – linked to SportMark Starter Level
• Aims over a specific period of time
• Tool for club management
• Implemented through an action plan
Strategic Benefits of Club Development (Daire)
Club Development Cycle
Planning
Stage 1 – Where are you now?
• Use SWOT to determine internal and external club environment
Stage 1 – Where are you now?
SWOT EXAMPLE
Strengths Weaknesses
High membership numbers
Not enough courts for club members
Opportunities Threats
New Facility opening 15 mins away
People wanting to play squash – too expensive to travel
and play
Group 1 – American Football, Men’s Football and Women’s Football – Greig
Group 2 - Kayak, Sub Aqua, Surf – Joyce
Group 3 - Snowsports, Rock Climbing, Archery – Max
Group 4 - Golf and Badminton – Daire
Group 5 - Basketball (M+W), Netball and Volleyball (M+W) – Mike
Group 6 - Cheer, Dance - Robyn
Task
SWOT analysis for a sport in your group
(Flipchart paper and pens)
Stage 2 – Where do you want to be?
Vision - The ability to think about or plan the future
Objectives - A specific result that a person or system aims to achieve within a time frame
Example
• “To be an inclusive American Football Sports club and further develop links in the community”
Our vision is underpinned by the following values:
• Being open, responsive and accountable• Seeking best value for money for our members• Promoting sustainable development• Putting service to 'our community' first• Working in partnership
To achieve our vision we will:
• Provide sporting opportunities from recreational to elite• Provide quality sporting facilities• Ensure the club is well run• Improve club’s equipment• Regularly seek views and respond to suggestions• Celebrate our successes
Stage 3,4 and 5 – Forming a plan – Delegation and Implementing the plan• How you will get there?
• Who is responsible ?
• Putting plan into action
Specific (specify what the club wants to achieve) Measurable (is the club able to measure whether it is meeting the objectives or not?) Achievable (are the objectives achievable and attainable?) Realistic (can the objectives realistically be achieved by the club with the resources it has?) Timed (when does the club want to achieve the set objectives?)
An Example Action Plan – Rock Climbing
Objective Where are you now
Where you want to be
How will you get there
Who is responsible?
When?Target date
Cost and Evidence
Achieved?
1.1
FortnightlyIndoor Climbing Sessions
Weekly indoor climbing and bouldering sessions.
Encourage members to attend more sessions, and help to create an identity and place for members within the club.
Club President / Secretary / Social Secretary
Sept 15th Indoor Climbing £20 per session at Alien Rock Event Schedule and the improved climbing ability of our members.
1.2
1.3
Linking your financial plan to club
development plan
Learning Outcomes
• Understanding how to link your financial plan to development plan
• Understanding how to draft a financial plan and the key areas of the plan
Financial Plan Example
Microsoft Excel Worksheet
Napier Tennis Club
Task Group Work
Expenditure and Income
• What you will realistically need to buy and why?• What you realistically want to buy and why?
• What will the club be spending money on?
• How will the club generate income?
• How will the club still be functioning and be financially stable in years to come?
• Report back with how your club will flourish linking Development and financial planning
napierstudents.com
Summary
• Link between club finances and development plan will allow club to stabilise direction
• Club Committee Importance – vision – communication – buy in of others
• Finances of club not just an annual account
• Avoid Fire Fighting - Plan ahead
“Short term actions required to get the Club on the right path to achieving its long term vision”