Information That the Team Treasurer Should Know

Team Treasurer

Information that the Team Treasurer should know.

WELCOME

Team Treasurer is an important position on the team. This person helps coordinate the collection of funds from team families, write checks for the team, and report to the Club on the team's financial activity.

If you need further assistance, let us know.

CONTACT: SCFC Treasurer, at [email protected] call 832-692-8190

RESPONSIBILITIES

Team Financial Record Keeping and Reporting

The Space City Futbol Club, Inc. is required by law to account for all monies collected at the team level. If the proper reporting is not adhered to, the organization could lose its tax-exempt and charitable status, which would create a financial hardship on the organization and possible monetary penalties for officers and board members. The team treasurer's have an important role in assuring the team's record keeping is maintained and certain documents are provided to the SCFC Treasurer on a timely basis.

BANK ACCOUNTS

Teams will need to set up a bank account for their use throughout the year.

1. Should be opened in the name of the team (Space City Futbol Club, Inc. (Gender/Year/ Color) is name of team). 2. It is recommended that team accounts should require 2 signatures on checks. 3. Account signers should include the team treasurer, team manager, and Club Treasurer. 4. The club’s taxpayer identification number can be used on bank accounts. Club Treasurer will provide a letter to bank to approve use of this number. 5. The team must submit the name of the account, the bank, account number and list of authorized signers to the SCFC Treasurer after opening the account. (Form due by July15th)

COLLECTION OF COMPETITIVE PROGRAM FEES

Collection and recordkeeping related to the payment of competitive program fees will be handled at the Club level. Team treasurers and team managers will receive a report monthly related to non-payment of training fees. Team treasuers will be asked to assist in the collection of the training fees for those listed as delinquent on the monthly report.

Training and field use privileges may be suspended until a player is current on training fee installments.

Training fees are due to the Club PO Box (PO Box 590852 Houston, TX 77259) 15th of the following months (July, August, September, October, November).

The actual costs for training fees vary based on the level of play, and season of play. Additional information regarding rates and payment schedules can be found at http://www.spacecityfc.org/

Players who do not attend training due to illness, injury, vacation etc. are not “credited” for training fees as the training fee is NOT session based.

PAYMENT TO TRAINERS

Each trainer must sign an agreement for services with the Club which details the services to be provided and their compensation. The SCFC Treasurer will make payments to the trainers for services. Payments to the trainer directly by the team are strictly prohibited. All payments MUST come from the Club for IRS reasons.

COLLECTIONS FOR UNIFORMS

The player registration fee covers the uniform fee for a basic uniform kit. Individuals can place orders for additional uniform pieces by contacting SoccerTime located at 5001 Red Bluff Rd Pasadena, TX 77503 or 281-479-1477

Teams may opt to place an order for any “extra” uniform pieces (i.e. extra socks, bags etc) that players desire. The team treasurers can collect the fees for the “extra” uniform pieces and deposit them in the team account. The team treasurer will write a team check directly to the uniform supplier to accompany the order.

Any uniform questions should be directed to the uniform coordinator at [email protected]. Orders will not be accepted without accompanying payment.

SPONSORSHIP/DONATIONS TO TEAMS

Donation checks cannot be deposited directly into team accounts. Donation checks should be made payable to SCFC and turned into the SCFC Treasurer when they are received. Donation checks must be attached to a Club sponsorship form. The Club has a written sponsorship policy. It is expected the each team will read and adhere to this policy regarding sponsorships and donations. Policy related to use of sponsorship funds as well as restrictions is contained in that document.

SCHOLARSHIPS

SCFC does not subsidize any team or player(s) other than those players with a Board of Directors approved training fee scholarship. Scholarships do not cover registration, uniform, tournament, travel, equipment or additional training sessions. Team treasurers are notified about scholarship players by a e-mail given to the parent to provide to the team treasurer. All players without an approved scholarship form turned into the team treasurer are required to pay training fees.

FUNDS REMAINING AT END OF SPRING SEASON

SCFC, is a non-profit organization. To retain our non-profit status, no individual can receive a personal gain from SCFC activities. Excess team funds should be remitted back to parents on the team that collected the funds as teams change each year. Excess team funds can not be carried over from year to year. A year is defined as Fall through Spring cup playing season. The Team Fee Tracking Form should be used the team treasurer to help facilitate which parents may be due a refund at the end of the season.

Team bank accounts should not have more than $10.00 remaining at the end of the Spring season. Any amount in excess of $10.00 should be forwarded to the Club Treasurer.

TEAM FINANCIAL STATEMENTS In order to prepare the Clubs tax return, a team Financial Statement is required for all teams which have collected any funds from parents. In addition to reporting to the Club; the team treasurer should provide an accounting of the collection and use of team funds to all parents on a monthly basis.

The financial statement with all supporting statements and canceled checks should be provided to the SCFC Treasurer by January 10 th of each year. They should cover the team's financial activities from the date of team formation through December 31st of the season year. Team documents will then be stored with club documents as they are required to be kept for seven years.

A second set of financial statements with supporting documents and canceled checks should be provided by June 10 th of each year. They should cover the team’s financial activities from Jan 1 of the season year through May 31st of the season year.

Further Assistance

SCFC Treasurer [email protected]

Space City Futbol Club, Inc. PO Box 590852 Houston, TX 77259-0852

832-692-8190 FORMS

Document Link Description

Team Bank (.pdf) This form is used to report the details of the team account to Account Report - the Club. This report is required and due no later than July 15 FORM prior to the season beginning.

Team Fee (.xls) This is an excel sheet that will help track the team fee Tracking - FORM (.pdf) income/outgo. printable

Financial (.pdf) The Team coach and team treasurer agreement regarding Responsibility use funds collected. Agreement

Team Financial (.pdf) A summary of Team Financial Deadlines. Deadlines

End of Year (.xls) Enter in the team's end-of-year financial information and Financials excel does the rest.

W-9 Form (.pdf) IRS Form Needed for independent contractors