How Can I Strengthen my Sport Club Budget? How to estimate your clubs revenues and expenses for the future!

Some Helpful Advice Set realistic goals Setting tough, but achievable goals gives you something to work for and has a greater reward when reached. Always go back into your clubs history Use previous budgets and budget requests to guide you. May find old sources of income in other on campus accounts. May find past donors or sponsors. Can use historical numbers and thus eliminates guessing on your part. Stay in contact with Alumni Most experiences for graduating students was very positive and are willing to give back, especially for a cause they were involved with. Be transparent Let club members know where funds are going and what the benefit to all of the clubs hard work is for. Let them be involved. Guide them to your clubs goals!

Where do I start? Determine what goals your club has? Simple – raise enough money to cover league fees Complex – make my club a “brand” on campus Short Term – recruit enough students to have a B team Long Term – compete at nationals every year Determine how much money club raised last year Dues Fundraisers Rec Sports Allocation Donations Grants – through your National Governing Body Determine how much money club spent Entry Fees (Leagues and Tournaments) Travel Equipment Uniforms

Club Income: Dues Most Common Source of Club Income How Can I estimate this? Club Growth University Enrollment Will decreasing cost per player increase participation? Always Round Up! Shows you want the club to grow. Never settle, always look to improve!

Club Income: Fundraisers Most Time Consuming Effort How Can I estimate this? What did we do last year? Was it successful? What are other clubs doing? SC is a community, clubs do not compete against each other. Will discuss ideas later in meeting.

Club Income: Donations Hardest to Come By How Can I estimate this? Have we done this before? What was the outcome? Who can we solicit? Family, Friends, Local Businesses Meet with Rec Sports and Athletics to see if there is a list of who you cannot contact! Do not put donations in request unless you seriously expect a donation.

Club Income: Other Items Sources: NGB Grants Usually require some sort of community service in return. Volunteering at Athletic or University events Refunds Anything that may not come from the previous sections.

Club Expenses: Entry Fees Most Important Expense! Where can I find this? Can be found on league or club websites. If unsure you can refer to previous purchase requests. National Events Request through Contingency and Club Sport Council.

Club Expenses: Equipment Evaluate how important the equipment is to your club and why. Is it Essential, An Enhancement, or a Luxury item. Use quotes from websites and vendors. See Rec Sports for specific vendors or discounts.

Club Expenses: Miscellaneous Items Any unforeseen expenses. Coach Salaries Come from fundraised funds, but good when evaluating budget. Referee Fees Facility Rental Fees Team Liability Insurance Policies

Club Expenses: Travel Use most up to date schedule. Lodging Expenses Where have you traveled? How likely are you to make the same trip? Look at hotels that you have recently stayed in. Lodging Expenses Be sensible. How many rooms do you need to fit comfortably? Rental Cars Plane Travel Used as alternative for more expensive land travel. Rec Sports or University Discounts.

Rec Sports Allocation: Factors that Contribute to what you Earn Current Sport Club Standing How Long your Club has been Active Sport Club Tier Competitive or Recreational Red, Black, White Level Club Need More active clubs have priority. Essential Expenses Willing to provide support to help you operate. Our Example: Shows High Need for Allocation Proposed Tier System Red Tier Highly Competitive Clubs Black Tier Moderately Competitive Clubs White Tier New and Recreational Clubs

Going Forward Aim to raise more funds than you spend. Allows for carryover into next year, making your future budget larger. Use Checkbook Method. Guide your club to the goals you set. Your budget is a reflection of your club, your hard work, and effort. Where do you see yourself next year? Set yourself up for success in the future. Evaluate club successes and failures. Did you run out of funds? Where did you need financial help? Where did you use less funds than you planned? Where can you cut costs?

Don’t Hesitate to Ask Questions Jason Harrington Coordinator of Intramural and Sport Clubs 409-880-2306 Sportclubs@lamar.edu www.lamar.edu/recsports