Good financial management is essential for your club’s survival and is an important part of good governance. It involves being able to review financial information, effectively manage funds, implement sound financial practices and understand your club’s financial position and obligations.
Often clubs appoint a financial director with some accounting experience to take on this responsibility. However, every board member should have an understanding of a club’s accounts and financial reports. This knowledge will help with strategic planning, accountability, corporate governance and effective risk management.