Acton Villa Soccer Club    
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Financial Requirements


Budget and Financial Statements:

1)       Each competitive team will develop a budget for the anticipated income and expenses for the season and submit to the board for approval no later than the April board meeting. Any significant change in the budget is to be notified to the Director of Competitive Soccer and the Treasurer, and if deemed necessary, they may require that it be re-approved.

2)       Each team must have a bank account facilitated by the team manager. The Board may ask to see statements from time to time, and they are to be supplied within two weeks of request.

3)       The goal of Fundraising and Sponsorship is to support soccer and soccer-related activities.

4)       End-of-season financial status for each team is to be presented by Director of Competitive Soccer, target being the October scheduled meeting.

5)       Disposition of excessive balance in the team account is a Board decision.

6)       Distribution of funds when a team dissolves is decided by Treasurer, Team Manager, and Director of Competitive Soccer.

What This Means:

Most of the above is self explanatory. What it is doing is to give visibility into the team finances:

 - for the parents so they understand the costs they are paying,
 - the Club who is responsible for all aspects of conduct of their teams
 - to the team management so they make well-informed decisions.

An excessive balance for the team does not automatically mean any large balance. Sometimes, a team may carry a large balance through the winter because they have an expensive activity (tournament in Europe, say) planned for early in the new year. This is to be backed-up by a budget approved by all the parents.

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