C LUB F INANCE The Treasurer is the Manager and accountable person for all Club finance.

CLUB FINANCEThe Treasurer is the Manager and accountable person for all Club finance.

CLUB FINANCE

All members have a responsibility to help raise the necessary finance to run the Club.

All activities should be examined to ensure value for money is being achieved.

All expenditure should be approved in advance and be in compliance with Club policies and procedures.

CLUB FINANCE

Club Executive should regularly review financial statements.

A full report on all financial affairs should be presented to members at AGM time.

Clubs should have a tax exemption certificate from Revenue.

Clubs with taxable activities should ensure tax compliance.

CLUB FINANCE

All Clubs should operate a current bank account.

All payments should be made by cheque with details on cheque stub.

All monies received should be lodged to bank account using a lodgement book with details on lodgement stub.

Bank statements should be sent to Club Secretary.

CLUB FINANCE.

Report to AGM should include the following, Income Expenditure. Bank balances (with statements reconciled) List of accruals and pre-payments. Details of all investments and loans.

CLUB FINANCE. The income and expenditure account

should categorise all items of cost and income in the relevant year with a comparison to the previous year’s accounts.

Every Club should set a budget for each year and report on variances at Club Executive Meetings.

It is recommended that Club accounts be independently Audited.

Copy of Accounts should be forwarded to County Board after AGM.

CLUB FINANCE

Any plan to provide new or additional facilities must take account of the revenue costs that will accrue for maintenance, light -heat etc.

Capital projects should only be undertaken after a detailed feasibility study is done.

The real property of the Club should be vested in the GAA.

Only vested property is elegible for GAA Grants.

CLUB FINANCE.

Property is vested in 5 Trustees----3 from the Club and 1 each from County Committee and Provincial Council.

Clubs require permission for borrowings as follows, up to €50,000 County Committee, €50,000 to €150,000 County + Provincial and for sums in excess of €150,000 County, Provincial and Central Council.

Borrowings are in the name of the Club Trustees.

CLUB FINANCE.

Loan Requirements, Income and expenditure accounts. Authorisation to borrow. Balance sheet. Financial Plan----cash flow forecast. The Club Constitution.

SOURCES OF FUNDS

Fundraising. County Committee draws. Local Lotto. Donations and Sponsorship. Interest Free loans. Local Authority Grants. Sports Capital funding.

DONATIONS

To qualify for tax relief on donations, the Club must have a Tax exemption or Tax compliance certificate.

The donation must be for a specifically approved Capital project and does not include any element for running costs.

Donations must be at least €250, paid by an Irish tax resident, be unconditional, non-refundable and not otherwise tax deductible.

CLUB FINANCE. Club finance should always operate in

an open and transparent fashion which gives confidence to the community and encourages involvement and support.

The operational procedures at Club level should be managed in a manner which minimises the opportunity for mis-appropriation of funds or fraud.

This is best achieved by regular reporting and sharing of documentation by Chairman, Secretary and Treasurer and regular reporting to Club Executive.