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The Do’s and Don'ts to Creating a Successful Budget

The Do’s and Don'ts to Creating a Successful Budget. Sport Club Leadership Series Number One University of North Georgia. Sport Club Leadership Series. Budgeting Budget Request Form Budget Request Presentation. The Purpose of Budgeting . Communication:

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The Do’s and Don'ts to Creating a Successful Budget

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  1. The Do’s and Don'ts to Creating a Successful Budget Sport Club Leadership Series Number One University of North Georgia

  2. Sport Club Leadership Series • Budgeting • Budget Request Form • Budget Request Presentation

  3. The Purpose of Budgeting • Communication: • Important between officers and members because it helps affirm the mutual commitment to achieve club goals • Must communicate clearly with Sport Club Administrator on all budgetary needs/concerns • Planning: • Budget is ultimately the plan for the operations of the club • Many decisions are involved • Old plans and goals must be assessed • New plans and goals must be implemented • Determined what resources are available and what resources will be needed • IT’S BETTER TO ASK FOR PERMISSION RATHER THAN FORGIVENESS

  4. Purpose Continued • Control: • Once budget is finalized it is the plan for the operation of the club • Expenses and revenues must be monitored closely to determine whether the club is on target and meeting their goals • Without being monitored, the club cannot realize that it is not on target until it is too late to make adjustments • Evaluation: • Did the club meet monetary goals? • Was the budget spent effectively? • Was the budget spent with club’s best interest in mind?

  5. What is a Budget Request? • A budget that is created at the beginning of each year. • This will give your club a chance to reflect, analyze, and determine a very DETAILED list of the club’s financial needs for the upcoming year. • This will also help your club with future planning.

  6. Budget Request Information • Sport Clubs that wish to apply for a budget allocation for the current academic year must submit a Budget Request Form no later than September 6, 2013 at midnight. • Budget packets turned in after the above deadline will not be accepted and your club will not receive a budget for the current academic year. • Your completed budget form should be emailed to either jessica.brown@ung.edu or matthew.williams@ung.edu. • The Budget Request Form is required and must be filled out completely. • Any additional information may be included provided it pertains to information requested in the packet.

  7. Budget Request Instructions • The following recognized expenses are those in which money can be used from the allocated budget your club receives via the Recreational Sports Department (SGA): • Team Equipment • Team Entry Fees • Facility Rentals • Governing Bodies/Association/Conference/League Dues • Officials/Judges Dues • If your club asks for it, be prepared to spend it! • Give us your true request, but BE REALISTIC in your expectations.

  8. Budget Request Presentation • All clubs who submit a Budget Request are required to make a presentation to the Sport Club Council, members of the Recreational Sports Department, and the Sport Club Administrator. • Each club will present their budget at the Budget Presentation Meetings. These meetings will be held on Tuesday, September 10th from 7:00pm-9:00pm and on Thursday, September 12th from 7:00pm-9:00pm. Presentations will be held in the Rec Center classroom and will be presented at random. • Failure to attend ALL Budget Presentation Meetings will result in your club not receiving allocated funds for the current academic year.

  9. Budget Request Presentation • Each presentation should last at minimum 6 minutes but must not exceed 12 minutes. • You will need to bring in three hard copies of your budget. • The budget presentation should discuss 6 areas: • General overview of the club • Past year: highlights, accomplishments, amount allocated • Current year: goals • Fundraising: plans to raise money • Breakdown of requested funds for current year • Total amount requested for current year

  10. Budget Form Important Notes • Club Information Tab • Club Officers: Only President and Treasurer. • Membership: Differentiate between Association and Governing Body. • 2012-2013 Itemized Summary: • Facility Rental: See budget form. • Officials/Judges Fee: See budget form. • Coaches Stipends: See budget form.

  11. Questions???

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