The Team Treasurer, Team Manager and Head Coach, are responsible for the team’s finances. The Team Treasurer is responsible for budgeting, collecting, banking, distribution of funds, tracking of income and expenses, and providing accurate and timely reports.
Generally, the duties of the treasurer include:
Beginning of the season:
- Open a team bank account with the Team Manager. A minimum of 2 signatories are needed on the account including the Treasurer and Team Manager.
- Develop a team budget with input from the Team Manager and the Head Coach that sets out estimated expenses and team fees. (link to sample Budget template). The team budget can include options on number of tournaments and other team activities, as well as fundraising or sponsorship assumptions for discussion at a parents’
- Present the team budget with options at a Parents’ meeting at the beginning of the season. Have parents vote on an option to finalize the team budget and fees. Indicate payment options, name of team bank account and deadline for payment.
- Collect the team fees from parents and deposit the fees into the team back account.
- Submit the team budget to the Division Convenor by November 1. The Division Convenor will forward these budgets to the BMHA Vice President of Finance.
During the season:
- Track and document team income and expenses.
- Monitor and update team budget and provide regular updates to the Team Manager and Head Coach.
End of Season:
- Submit the team’s final financial statement (actual vs budget) to the Division Convenor by April 15th at the end of the season. The Division Convenors will forward the team statements to the BMHA Vice President of Finance.
- Reimburse any remaining team funds to parents.
- Close the team bank account with the Team Manager.
Examples of team expenses could include:
- Cost for extra ice for exhibition games or practices
- Registration fees for tournaments
- General operations (bank fees, name bars, game sheet labels etc)
- Coaches Gifts/Volunteer Appreciation Gifts
- Year-end activity and memento for players (e.g. medals or other)
- Debit cards should only be used for deposits.
- Ensure that the account requires two signatures.
- Parents have the right to ask financial questions or review the team’s financial statement.
- Unforeseen payments that arise should be discussed with the parents before any transaction takes place.
- Ensure receipts are obtained or a copy provided for all transactions that take place.
- When writing a cheque, include a description line.
Return to Hockey Updates
Look to the Return To Hockey Page for all the latest updates and news regarding how our Players will get back on the ice.