September 12, 2011 Please Sign In!

Announcements Club Addresses Club Paperwork due 9/16/11 Schedule 1 on 1 meeting time with Clint ○ You Tube Video (Recruiting Tool for Individual Sport Clubs and Entire Program) Current YouTube Channel Is Up ○

Learning Objectives  At the end of this workshop you will be able to: Explain the importance of budget creation and management Create and implement a Ledger for the School Year Create and Implement a Club Budget for the School Year Prepare for SA Budget Meeting/Presentation

Budget Overview Key points: Budgeting is a year round process Track all expenses throughout the year (Use of a Ledger…) Track all opportunities – Even though you didn’t take advantage of them (i.e. a missed tournament, a possible chance to get a speaker talk to your team, chance to get uniforms – Mostly due to low funding. Keep in mind when requesting money from SA, you will rarely get 100%. Do not be scared to aim higher – Just be able to justify what you need and why. Be prepared to work on budget before and during summer time. DO NOT WAIT UNTIL SCHOOL STARTS TO BEGIN THE PROCESS With proper budgeting, last minute fundraising or meeting for supplemental funds does not need to occur!

Why Use a Budget  Planning (Short and Long Term) Purchases ○ Equipment ○ Marketing Materials Fees ○ League/Conference dues ○ Coaches/Instructors ○ Officials Travel ○ Transportation ○ Tournament Fees  Organization Keep an up-to-date record of all income and expenditures

Goals and Needs VERY IMPORTANT to set GOALS when financial planning GOALS should be specific, measurable, attainable, realistic, and timely. (SMART) What are your needs for the year? For 5 years? Brainstorming – Create a list of all needs and wants

Goals and Needs - Examples Example – Needs and Wants: New Footballs (6), New Flag Belts (12), New Uniforms (18), University Bus for Travel to 1 Tournament, Conference Dues, Tournament Fees (3 Tournaments), and New Marketing Banner (1) Example – SMART GOALS: Our club will purchase 6 new footballs and 12 new flag belts in the Fall Semester with money we fundraised in summer Our club will request funds for 18 new uniforms and one marketing banner for FY13 in our SA budget meeting in Fall 2011.

The Books  Why keep a Ledger? Why is record keeping important? What information should be recorded for all income and expenditures? How long should your club keep financial records?

The Books continued….  Filling in a Ledger Club Ledger MonthDayNameDescriptionIncome (+)Expenditures (-) subtotal $0.00

Budget Management  Track all Expenses No matter the size and amount of expense If using SA allocated funds, be sure to follow proper procedures ○ Expenditure Forms ○ Travel Request Form

Income Management  Track all Income Dues Donations Fundraisers Sponsorships  Deposit into Club Checking Account or SA Account ○ For Club Account: Can not use NIU in checking account name Must provide SA with bank statements upon request Club Treasurer should be filing all bank statements with club Ledger

Creating a Budget

The Budget Meeting - Dress  Business Professional  Make a Great First Impression Dress as you would for a job interview for your dream job. Dress your attitude (they will listen more, if you have a inviting attitude)

The Budget Meeting – Presenting  Tips for Presenting: PRACTICE! PRACTICE! PRACTICE! ○ Present to someone before going into your SA Budget Presentation Meeting ○ Know the material…not a lot of umm umm umms ○ Act professional ○ Sell your club to them, make them so interested they want to join ○ Show your passion!!!!!!!

Activity – Working with Budgets  Step One – Brainstorm  Step Two – Prioritize  Step Three – Make the Choices and Justify Them  Step Four – Record choices into Budget/Budget Proposal  Step Five – Evaluate Budget Proposal  Step Six – Present Budget Proposal  Step Seven – Brainstorm for following year