Assets are items owned by an organisation. They can include cash at bank, plant and equipment, and accounts receivable. As the finance director your role is to manage and monitor these assets.
Consider these tips to help administer your club’s assets.
| Asset register | Do you have a register or list detailing your club’s equipment including purchase date, purchase price and where it is stored? |
|---|---|
| Lease records | If you lease equipment, do you maintain records of when the lease expires and what (if any) lump sum may be payable to acquire the equipment? |
| Equipment replacement | Have you planned the cost impact of replacing ageing equipment? |
| Equipment insurance | Do you have appropriate insurance for your equipment? This may not fit precisely within the role of finance director but as you maintain the asset register you will have the appropriate information to organise the insurance. |
| Accounts receivable | Do you review accounts receivable to ensure that money owing is received in an appropriate timeframe? |