Team Money Handling
Each team, should have an appointed Team Manager. The function of the Team Manager is to work with the Coach & each family to organize the season with the players, and parents. Team Managers are usually responsible for providing communication to the parents about practices, fundraisers, etc.
Team Managers collect money throughout the season for things such as ice/field time, tournaments, etc.
The Team Manager, along with appointed Team Treasurer should open a bank account for your respective team, (you should not be using a personal bank account) and request checks from the bank, in the Team Name (for example “NKCC 6 and Under” or NKCC 7 YR OLD SOCCER, or NKCC 9 YR RINGETTE. If you visit a Credit Union or Chartered Bank, they are usually helpful with team accounts, and can explain what is required to start up an account (ie: Credit Union by the Pizza Hut on Springfield Road).
Your team name, would be the “payable name” that parents would use for making payments to the team accordingly.
The bank will ask for two signing authorities on the account, and therefore, both the Team Manager and Treasurer should be persons that are available during the season for various reasons, according to the responsibilities involved.
The money collected by the team manager, should be reconciled, and given to the Treasurer to be verified, and then deposited into your account. This should all be tracked on a simple income statement.
Payments made to other facilities for ice time, or other reasons, should be written on a “team check” (not personal checks); each check must have two signatures (TM and Treasurer).
Income Statements should be readily available should a coach, parent, or NKCC require access to the accountability of the funds collected, and paid out per Team.
It is the responsibility of the Team Manager to submit monthly reconciled income statements to NKCC showing revenues (w/receipts) and expenses. NKCC then has a responsibility to submit income statements, per team, to GCWCC twice per season.
If there are funds remaining in the account, it is up to the Team Manager to approach the Coach/Parents, and decide how to disperse of those funds, to bring the account to zero at the end of the season.
Each Team Manager/Treasurer should close the account at the end of the Season with their respective bank. This can be done by going to the bank with a letter removing your name as signing authority and asking that the account be closed.
Under no circumstances should any Coach, Team Manager, or Treasurer be collecting monies, and using personal bank accounts for team transactions.
We’ve created an easy to use spreadsheet for Hockey Managers/ Treasures that you can use for communicating to parents and provide to the Club at the end of year.
NKCC Partners
