How to Run a Cricket Club: Finances
This is part of the How to Run a Cricket Club series on PitchVision Academy
Picture the scene, the first day of the cricket season and you are the new club Treasurer, entrusted with looking after the club's monies.
It's pure chaos. You are handling cash from players who are paying match fees (and chasing the guy who always slips away) while dealing with demands for payment for food and from umpires.
And ll the while you know that it all needs to add up at the end of the night. And that's just on the days where there is cricket!
On your other days you can find yourself preparing accounts, banking, looking for insurance, and setting budgets.
But you made a committment and in a way you are running the finances of a small business. So you need your ducks in a row. Here is a simple guide to the basics to get you started.
What you need
- Cash box. Keep all your cash together safely locked away.
- Cash book. Make a note of every cash payment (like match fees) you make or receive. There will be a lot.
- Receipt book. To ensure all the money you receive has a proper trail of paper.
- Bank account. Most clubs already have some kind of account for excess funds and to have the ability to write cheques (or use a credit card). It's good practice even in very small setups. Otherwise you are stashing money in the mattress!
- Filing. Have somewhere safe to keep your records. This is important even at a small club when passing the job on.
Chances are you will also need a computer for online banking and bookkeeping. There are very few people who deal totally in paper these days.
Good treasurers do more than just collect the cash and pay the tea lady. All clubs need to plan their finances.
You need to think about the types of costs and funding you will have in the next 12 months, then plan it in good time to make sure you can pay your bills.
Here is what income you need to plan for:
- subscription and match fees
- other income (like fundraising events)
Here is what expenditure you need to plan for:
- groundsman/curator fees
- utility bills
- umpire fees
- professional player/coach fees
- equipment (grounds, coaching and playing)
- social activities
- emergency fund
I'm sure you can come up with even more, especially if you are handling a budget at a bigger club.
At the very least you need to total up income against expenditure. Be clear and accurate about every penny.
Make sure there is no gap in finances.
(If there is you need to get started on a fundraising drive!)
When it comes to sitting down and keeping books the trick is to use the simplest way that you can manage compared to the complexity of the clubs finances. Most people use either spreadsheets or simple budget planning software to stay on top of things.
You will find your planning process will draw out a number of important actions for the club. A clever Treasurer is able to delegate tasks to members.
For example, at my club we have to have comprehensive insurance. One of our players works in the insurance industry and can get us a good deal, so the Treasurer entrusts the seeking out of insurance to this member before paying the bill when it arrives.
Of course, there are still things you need to do yourself, so set aside at least a couple of evenings a week (especially during the season) to keep everything ship-shape. Keeping control is much easier if you do it a little at a time rather than leaving it for weeks then untangling the mess.
I would recommend a system like GTD for staying on top of what needs to be done and when.
As always, if you have a pressing question about cricket club financial management then drop us a line. This has been a whistle-stop basic guide for a newbie treasurer but we are happy to get our hands dirty with more details, articles and questions.
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Hey Hi Admin I really need some help towards the Cricket , as am planning to start a cricket Foundation so is there any particular license to be taken or just a government business is enough.
and if required from where can i get the license for the foundation.