House League – Budget Policy

SAMPLE BUDGET (.xls – 74 KB)

The Coach and Team Staff must develop a team budget at the beginning of the season that reflects the program outlined by the Coach. All team budgets must be presented to the parents at a mandatory beginning of the season team meeting. Initial Team budget must be agreed upon by the majority of the parents. If conflicts arise during the team meeting, any issues should be put to a vote. The Team Budget will be derived from the Majority.

New this year – All parents must sign off, that they have seen the team budget, for each budget submission date.

Team Bank Accounts

To open a Team Bank account, KMHA requires (even if bank does not) a Bank Authorization Form. It is now mandatory to have 3 signing Officers, of which on should be the Coach. As well, each coach (or Treasurer/Team Manager or a Combination) must sign a Memorandum of Understanding, which highlights the Responsibilities of Team Fees.
To receive these forms, please email Lori Thornton, Office Manager with the names of each signing officer, and position.
All team bank statements must be mailed to the coach, or the coach must have access to it online, without the capability of withdrawing or transferring any funds. All Bank Statements must include copies of all cheques written.
No two family members are allowed to be signing officers on the same team.

Note: Bank of Montreal does not charge a service fee for KMHA members. However they do charge a small service charge for returned cheques that is required.

Team Budget/Income Statement Submission Dates

Team Budgets/Financials as per requirements below must be submitted on or before the following dates to the KMHA office and KMHA VP of Finance & Admin.

Initial Budget – by no later than October 31^st.
Mid Term Budget – By no later than January 31^st, up to December 31^st
End of Year Budget – By no later than April 30th, or within 1 month of last ice time, whichever comes first.

Items required to be Included in Team Budgets

All Team Budgets must be submitted on Standard Budget form, with each Worksheet filled out.

Work Sheets

SAMPLE BUDGET (.xls – 74 KB) Please do not use this, to fill in your budget. This is a Sample Budget Only

October 31^st – This is where you put in Dollar Value for your Team Budget. What you expect to receive in, Team Fees and any Fundraising and Sponsorship Events, as well as Expenses. Please ensure to note $ amount that each parent will be paying.

December 31^st – Budget amount will automatically fill in from October 31^st Budget. If you have decided to revise Budget amount, you can type in revised amount. Actual should be what you have received in and spent to date. Actual deposits received in and actual cheques you have written for Expenses. Difference, will automatically fill in as well. At the bottom, please list any cheques not yet cashed or deposited to give the reconciled Bank Balance.

Final – Columns are filled out the same as December 31^st. At the bottom, please list refund amount being issued to parents or amount being donated to a Charitable Organization. (Note this must be agreed upon by parents. If a parent chooses to request there refund instead, they may do so)

Teams Fees – this must be filled out. If Team staff is able to give the option of 2 installments, they may do so, and are encouraged to do so, for those parents that request it.
Fundraising – Each fundraising event must be clearly detailed in a separate worksheet. Items must include, Type of Fundraising Event, Bottle Drive etc. all Revenue received, detail listing of cash (only when necessary and cheques with chq #’s). And a detail listing of any and all Expenses.
NOTE: All details of Fundraising Events, Revenue and Expenses, must be sent out to all Parents for each Fundraiser within 30 days of Fundraising event.
Sponsorship – List of each sponsor and amount received. Note: Sponsorship money received, may not be used for an individual player.
Cheque Log – Please list all Cheques issued, including dates, Chq #’s amounts and who the chq was written to.
Deposit list – Separate Worksheet of all deposits made, including date of deposit that cheque was from, amount, and chq #. (Note this does not have to be listed on this spreadsheet. A deposit book may be used instead. But all funds received in must be recorded in detail.

Other

Each parent must sign off on an individual Sheet stating that they have seen the each Budget. Oct 31^st, Dec 31^st and Final. This signature page must be submitted with Budget.
Cash. Please do not accept Cash, unless absolutely necessary. If need be. A signed receipt must be given. Once copy given to person handing in Cash and one copy retained with Team Manager/Treasurer. For Fundraising events, please have 2 adults at Fundraising event. Both must count cash together and record and sign off.
Bank Statements – Copies of Bank Statements must be submitted in an enclosed envelope marked: To VP of Finance From: Team # and Team name. Envelope to be dropped off at KMHA office – VP of Finance Mailbox. You can also email a PDF of the statement to VP of Finance as well – vpfinance@kmha.ca.

Maximum Budget Amounts

A – $350 / player – Total including all Fundraising and Sponsorship $8,150.00
B – $225 / player – Total including all Fundraising and Sponsorship $5,625.00
C – $200 / player – Total Including all Fundraising and Sponsorship $3,850.00
IP – $125 / player – Total Including all Fundraising and Sponsorship $3,000. Note: it is recommended that parent fees remain closer to $50 – $100 per parent.

Team Apparel

The KMHA Board has decided this year, that it is no longer allowed to be included in the Team Budget. Although it can flow through the team bank account, as an in and an out, all Team Apparel, ie, Caps, T-shirts etc. are optional for Parents. KMHA has received special Pricing through Play it Again Sports, and although not mandatory, we encourage all Teams to use them. If this has already been included in your team budget, please advise all parents that this is optional. If they choose not to purchase, please reduce their team fees by the appropriate amount.

Team Parties

These amount will be closely review by the VP of Finance. Although team parties are fun, and important for team bonding, please remember that it is not necessary for Player Development. Not every parent can afford to pay for a Paint Ball year End party, and massive Christmas Party, or luxury meals at every tournament. All team party amounts and anything else, should only be for Players only. Not siblings and not parents. For any sibling and or parents, separate cheques should be written. These amounts should Never be taken out of the Team Budget

Coaches Supplies

Although it is important, for the coaches to have the necessary equipment to do their volunteer job, please remember that some of these items can be used from year to year. So please charge back the team, the appropriate amount.

Rule of thumb for Team Budgets to be Approved

As each Coach has a separate plan and or idea on how to reach their individualized goal for their team, to be successful not only on the ice for games and development, but also to have fun and make it an enjoyable year for each and every player and parent. Please remember, that you are spending 17 other player’s parent’s money. Some of these parents scrimp and save all year long, in order to save the funds, so that their child is able to play hockey.

Reviewing of Budgets

Budgets will be reviewed, and anything that seems out of the ordinary, questions may be asked to the person that has submitted the budget. If amounts seem too high or answers are not satisfactory, the Team may be asked to resubmit with changes requested.

Final Notes

Please ensure that all of the above is adhered to when submitting budgets. Although, it may seem rather detailed and cumbersome, they are imperative to ensure that all funds are accounted for and to ensure that each and every parent’s money is being spent responsibly. As well, if in fact there is a question or an issue concerning team funds, these regulations will help track where money came in and out of the Team Bank Accounts.

If you have any questions or concerns, please contact the KMHA VP of Finance and Administration – vpfinance@kmha.ca