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18.TEAM FINANCIAL REPORTING

A parent consensus of approval for a team budget should occur at the first team meeting.  A copy of the approved team budget should be forwarded to the President and Director, Hockey Operations no later than November 1st of the current season.

Excess funds in the team account at the end of the season should be returned to those team parents who made out of pocket contributions, after all debts to the Club have been dealt with.

Under no circumstances should excess funds be used in ways not allowed for under “FUND RAISING GUIDELINES” (Section 21.)

19.CONTROL OF CASH REVENUES

GRMHC, a non-profit organization, is staffed by volunteers.  Although we pay referees, no member or participant may receive a personal use benefit, cash or otherwise, without the written consent of the Club Executive.

THE BEST WAY TO PROTECT PERSONAL INTEGRITY IS TO ALWAYS OPERATE IN AN OPEN AND WELL-DOCUMENTED MANNER.

Uniform procedures for the control of all cash revenues and collections should be followed by all organizers associated in any way with minor hockey activities.  It is therefore appropriate and necessary to expect the following:

A bank account with two signers should be used for team, committee and other club funds and these accounts should have monthly statements provided.  All funds, statements as well as receipts, invoices and other financial records are to be held in Trust for the Club Executive by a team, committee or Treasurer.

All cash transactions should be evidenced by a receipt in writing.  

Year-end balances in team accounts shall be actioned by March 30th as follows:

a)

Team debt to Club has been paid off - refunded directly to parents;

b)Team debt to Club outstanding - sufficient team funds will be transferred to Club to clear team debt.  Any excess funds will then be refunded directly to parents.

RAMS Policy ManualPage 12

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