Sported members - Financial Management

Sported guides

Upskill in key areas to help support and grow your group

Bid writing

Governance

Planning

Impact practice

Financial managment

Start the unit:

This unit:

Financial management

Budgeting

course content and navigation

Glossary

Cashflow

Self-assessment quiz

Managing accounts

Budgeting

Email events@sported.org.uk if you need technical help with this course

Quiz

Introduction

Keeping records

Sported guides overview

Cashflow

Managing accounts

Keeping records

Financial management

Unit content and navigation

Feedback - rate this course!

Financial management

Questions or problems? contact Sported

Sported guides overview

Budgeting

More learning modules

Introduction

Quiz

Cashflow

Keeping records

Managing accounts

This unit:

Download the 5 minute guide from the Charity Commission

This unit aims is a walk-through on the basics of financial management for your group. Use the menu on the side of each page to navigate. The unit covers four main areas and is divided into chapters. At the end there is a self-evaluation quiz to help you understand if you have any gaps in your knowledge.

would be really nice to have a volunteer talking head or a sported branded animation with an intro to the course

Financial management

Sported guides overview

Sported guides overview

Budgeting

Introduction

Quiz

Keeping records

Cashflow

Managing accounts

check your recall

Good practice

What records do you need to keep?

How to keep good records

Why keep records?

bank reconciliation

expenditure

income

safety

in your head!

on paper

integrity

charitable status

income

spreadsheet

accounting software

What are the main expenses in your group? How are these tracked and recorded?

Does your group have charitable status? Do you know what you have to report?

Financial management

Budgeting

Introduction

Quiz

Keeping records

Cashflow

Sported guides overview

Managing accounts

Self-evaluation

Start

Check your understanding of what you've learned in this course

There are 6 questions relating to all of the areas covered, with an explanation and link back to the page for more details.

No prizes (sorry!) and it's totally optional - it's to give you an idea of how much you know.

Self evaluation

Rules

Safeguarding

Rules

Safeguarding

Self evaluation

Insurance

Even if you don’t have staff, you may still need insurance. It’s about keeping yourselves and the public safe.Even if you're just renting a room for your activity, and are covered by the building's insurance, you may still need your own policy.Take a look back at this page and review this area if you need more information.

Next question

Self evaluation

Rules

Safeguarding

Rules

Safeguarding

Self evaluation

Your board

Your board of Trustees/Directors steers and guides your group. Make sure you have the right mix of people to delivery your group's aims and vision.It's good practice to limit conflicts of interest and related board members.Take a look back at this page and review this area if you need more information.

Next question

Self evaluation

Rules

Safeguarding

Rules

Safeguarding

Self evaluation

CIC

A Community Interest Company is still a company and does not have any special tax breaks. The benefits of a CIC are around asset locks and ensuring continuity of benefit to the community.Take a look back at this page and review this area if you need more information.

Next question

Self evaluation

Rules

Safeguarding

Rules

Safeguarding

Self evaluation

Governing documents

Articles of Memorandum is a document which sets up a company, signed by the Directors. The Articles of Association set out how the company is to be run.Take a look back at this page and review this area if you need more information.

Next question

Self evaluation

Rules

Safeguarding

Rules

Safeguarding

Self evaluation

Next question

Liability

If your group is unincorporated, board members could be personally liable for any debts.Check out the Structures part of this course if you're unsure.

Rules

Safeguarding

Self evaluation

Rules

Safeguarding

Self evaluation

CASC

A Community Amateur Sports Club (CASC) is a status which can be added to your group. It is not a legal structure, but a status which has requirements and benefits. If you'd like to refresh your knowledge of this, go back to this page.

Finish

Sported Governance

Thank you for completing this course

If you'd like to know any more about Governance or any other aspect of running your group, head over to the Sported Hub.We run webinars and workshops to help you upskill on all areas of running your sport for develpment group as well as having volunteer support and a library of guides, templates and videos.

If you have any queries, or would like some extra help, you can contact info@sported.org.uk

Financial management

Budgeting

More learning modules

Introduction

Keeping records

Managing accounts

Cashflow

• Why you need to keep records
• What you need to record
• How to keep good records
• Best practice

Keeping records

In this clip, Sported volunteer consultant Maleana Provan puts the case for keeping records.Watch the full recording of this webinar on the Sported Hub.

How to use this unit

This unit is divided into topic chapters, use the navigation on the left to see each area.

You can dip in and out as required, either work through the whole unit, or just the sections where you need to upskill. Work at your own pace, and time.

Work through, or dip in and out

The unit has a self-evaluation quiz to help you understand if you have any gaps in your knowledge.You can contact Sported if you would like more information and help with Governance

Self guided and assessed

Glossary of terms

B

CASC

C

D

Committee

Charity

CIC

CIO

Board

Directors

R

Review

I

Insurance

A

Articles of association

This is a constitutional document that defines the rules of how the company will be run. It is a legal contract between the company and its directors and allows the company to become a legal entity. See more here and on the Governing documents page

Quorum

Q

Policies

P

Constitution

Safeguarding

S

M

Memorandum of association

Trustees

T

Conflict of interest

Structure

Templates

Documents

A group of people who direct the organisation. In a charity these are the Trustees, in a company they are Directors. Both are bound by rules and regulations, see the chapter on Boards for more.

Community Amateur Sports Club A legal status that can be applied to a sports club allowing some tax benefits. See the chapter on Structure for more.

The founding document of a charity. See the chapter on Documents for more.

A group of people who direct the organisation. In a charity these are the Trustees, in a company they are Directors. Both are bound by rules and regulations, see the chapter on Boards for more.

Charitable Incorporated Organisation. A status that allows for charities to use a simpler regulatory regime, see the chapter on Structures for more.

Community Interest Company. A legal structure with restrictions to ensure it is set up to benefit the community. See the chapter on Structures for more.

Where board members have interests, financial or otherwise, that may cause a conflict. See the chapter on Boards for more.

Your group will need insurance to operate safely. Visit the Sported Hub insurance resource for more information.

A group of people who direct the organisation. In a charity these are the Trustees, in a company they are Directors. Both are bound by rules and regulations, see the chapter on Boards for more.

A document that outlines the foundation of a company. See Documents chapter for more

All organisations have legal documentation to ensure they are compliant with Charity or Companies law.

Amongst other policies, you will need to have a Safeguarding, Health and Safety, and GDPR policy. See the chapter on Legal matters for more.

The number of board members required to make a decision. This can vary and is set out in your organisation's rules.

Your policies should be reviewed regularly, with a defined schedule for this.

A legal structure ensures your group has a legal 'personality' and is a separate entity to the individuals who are part of the organisation.

A group of people who direct the organisation. In a charity these are the Trustees, in a company they are Directors. Both are bound by rules and regulations, see the chapter on Boards for more.

To ensure safe operation, your organisation will need a safeguarding policy which is shared and followed by all members of the group.

The Sported Hub has many templates for you to adapt and use.