This section of the Club Guide is relevant to Club Management Team (CMT) members, SLSC Treasurer and SLSC Secretaries.
The application of financial resources has a significant bearing on the success of SLSCs that need to account for their financial resources and look at ways to use their financial resources effectively. The SLSC Treasurer has a key role in the effective management of financial resources, but the CMT has ultimate accountability for how SLSCs use funds.
All SLSC financial management systems need to provide a mechanism to record historical transactions and enable informed decisions to be made about the future of the SLSC, both short term and long term. This is to meet the various standards and legislation about the need for associations to keep proper accounting records and allow auditors to give a qualified opinion on an SLSC’s financial state. SLSC financial management systems also need to promote public confidence in the integrity of SLS entities as recipients of charitable contributions.
Requirements contained in legislation relating to charitable fundraising and incorporated associations, and those imposed by the Department of Fair Trading and the Australian Charities and Not-for-profits Commission (ACNC), are embodied in the procedures and recommendations contained in this Club Guide.