Bill Lennon

What Is A Team Treasurer?

The team treasurer plays an important role in any youth sports organization.

Usually a parent volunteer, the treasurer helps the team function by handling the financial side of the game. The team treasurer should be prepared to spend 3-7 hours per week on work related to the role.  Get more details in our Team Treasurer Manual.

What Does A Team Treasurer Do?

BEFORE THE SEASON

Create A Budget

Creating a budget is a crucial first step for a team treasurer. There’s a lot of expenses over the course of a season, and the better a team can plan for them, the more prepared they will be to pay them when the time comes. By creating a good budget before the season starts, teams can set player fees to the right amount and avoid asking for more money halfway through the season.

Some things to make sure you include in your budget are team fees, coaching fees, facility fees, uniforms, equipment  and the cost of the tournaments the team will attend. For more team budget tips, check out our blog post on what you should consider when budgeting for a travel/club sports team.

Once you have a budget of what the team expenses will be, you can break them down into payments for each player. Sharing the budget with players’ parents to show where the fees are going is a good way to add accountability and transparency to the process.

Need help budgeting? At the end of this blog post, you’ll have a chance to download our free, customizable team budget tool!

Open A Team Bank Account

The finances of the team should be handled through a team bank account, not a personal one. A team bank account provides a hub for the team to handle payments, deposits, and checks. If your team is part of a larger club organization, they may already have a bank account where you can create a sub-account for your team.

For example, The Pleasanton Rage, a youth soccer club in California, has a relationship with a bank in the area that offers them free team checking accounts and free checks.

If you want more information on opening a team bank account, check out our recent blog post: How To Set Up a Bank Account For A Youth Sports Team.

DURING THE SEASON

Collect Money

During the season, it’s the treasurer’s job to collect money owed to the team and deposit it in the team bank account. This is primarily the process of collecting team fees from parents, but also includes money from fundraisers and sponsorships.

Payment collection varies from team to team, as some teams stick to cash and checks as methods of payment, while others use Paypal or an online tool. Here at Snap! Spend, we created a system to streamline the payment collection process for youth sports teams and clubs. It gives parents an easy way to pay online, making the process easier on both parents and team treasurers.

Interested in Snap! Spend? Head over to our full website to learn more and/or schedule a demo.

Pay Out and Track Expenses

Another major part of a treasurer’s role is to pay out money for team expenses. When it’s time to pay for next month’s tournament, or the team needs a new bucket of baseballs, it’s the treasurer’s job to pay out the money from the team account.

It’s also the job of the treasurer to track and record each of these expenses as they occur. You can compare the log of actual expenses to the estimated figures in the budget created before the season. This will show you whether the team is over- or under-budget in different areas.

For example, the team may be spending slightly less on tournaments than expected, but slightly more than expected on equipment and practices. This is information that you can relay to coaches and parents.

Communicate Finances With Team and Parents

As mentioned in the section above, communicating what’s happening with the team’s finances is important for the team to stay on budget throughout the season. Reports are a great way to keep everyone on the same page.

The structure of your organization will have some impact on who you send reports to and how often. Many larger-sized clubs have a Director of Finance that a treasurer should have regular communication with. In smaller clubs, the head coach may want to receive reports on an ongoing basis.

It’s important to also keep parents up-to-date with their payments. Sending reminders for upcoming payment dates, letting parents know what they have paid and what they owe, and communicating any upcoming potential expenses are all tasks that a team treasurer should do on an ongoing basis throughout the season.

Deal With Unexpected Issues That Arise

There are situations that arise during the season which will involve team finances. A player gets injured, a parent doesn’t want to pay fees, someone quits the team – How do you deal with that?

While you can’t predict what the exact situation will be, you can build a buffer into the budget at the beginning of the season to account for these situations. This ensures you are prepared for a situation during the season that could have an impact on the team’s finances. If the team doesn’t end up needing this extra money, it can always be refunded to parents at the end of the season.

These situations are usually taken on a case-by-case basis, but with the buffer in place, there’s room for more flexibility in coming to a fair agreement between teams and parents.

AFTER THE SEASON

Handle Remaining Money in Team Account

At the end of the season, it is the treasurer’s responsibility to execute whatever end-of-season plan the team has for leftover money. Some teams refund the money evenly to parents, while others prefer to roll it over to the next season.

Some teams choose to have a team banquet or buy a gift for the coaches after the season ends. Coordinating this effort with parents is another task that a team treasurer may be asked to do.

Create a Final Report

Creating a final report is the final step for the team treasurer. The report should show how much money came in and how the money was spent over the course of the season.

In addition to being transparent with the team’s financials, the final report will serve as a great resource for creating a budget for the following season.

Open A Digital Bank Account with Snap! Spend

Here at Snap! Spend, our digital bank account has everything you need to manage your team or club finances. Snap! Spend helps you budget for expenses, track player dues, accept online payments and track spending all integrated with your digital bank account.

So, you’ve decided to use Snap! Spend for your upcoming season and are looking forward to a life free of chasing down checks. Not so fast. Snap! Spend is a powerful tool that can help you achieve this, but only if you use it right.

Here are our top tips for teams to succeed with Snap! Spend this season.

Set up your account in advance

You’ll want to sign up for your Snap! Spend account a few days before you start collecting. Once your account is activated, you’ll be able to start setting up teams and customizing player payments immediately. However, we need to verify your bank account before parents can start paying, and that takes about two business days. Be sure to give yourself enough time and signup in advance.

Let parents know about Snap! Spend

Give parents a heads-up that you’ll be using Snap! Spend this season and that you will provide them with an email invitation or signup link. If you’d like a template email to use, let us know and we’ll provide one.

Use Snap! Spend to collect all of your fees

We want to make your collections headaches a thing of the past. That’s why we’ve poured our heart into building Snap! Spend . To get the most out of Snap! Spend , you have to go all in and make it the only way you collect payments. If Snap! Spend is just another way for parents to pay, you’re still going to be chasing checks. Let parents know that all payments will be collected online through Snap! Spend.

Collect a non-refundable deposit

Non-refundable deposits are great for a number of reasons. They give players the ability to reserve their spot on the team and force indecisive players to make a decision and stop shopping around. Collecting a deposit is also the easiest way to get parents signed up to Snap! Spend and in the system. To pay your deposit you have to pay online, to pay online you have to signup to Snap! Spend. Once parents are signed up, they’re either paid up in full or on autopay which makes your life easier for the rest of the season.

Open a Digital Bank Account with Snap! Spend

Here at Snap! Spend, we’re dedicated to making managing your club’s money easy, starting with opening a bank account. Snap! Spend’s digital banking platform gives you an online bank account with built in online payments to collect dues and budgeting tools to track spending. It’s the easiest way to manage your club’s money.

Being part of a travel sports team is a serious commitment. Parents, coaches, and players all have to put in lots of time and effort for a team to be successful.

At Snap! Spend, we believe that participating in competitive sports develops kids into both better athletes and better people. The principles of hard work, sportsmanship, teamwork, and leadership are just a few of the benefits that come with being on a youth sports team.

As travel teams grow, so too do the administrative needs of the team. Between travel accommodations, scheduling practices, games, and tournaments, ordering new equipment, and keeping up with the finances of the team, it can become overwhelming.

There comes a time when it makes sense to automate team payments to simplify the back-office needs of the team and put the focus back on the field. Here’s why it makes sense for the top teams to do just that.

The Benefits of Automating Youth Sports Payments

1. Get Paid on Time.

By using an automated payment system, travel teams can cut down significantly on missed or late payments. You don’t have to worry anymore about forgotten due dates, misplaced checks, or this month’s cash flow. Getting paid on time makes it easier to run the team and budget each month of the season. Tournament fees due soon? No problem. You can be confident that you’ll be paid on time and have the money for the tournament by the due date.

2. No more time spent collecting checks and running to the bank.

Collecting team payments by hand is a hassle. First, you have to worry about everyone knowing when payments are due. Next, you have to count on coaches, parents, and players to all remember to get the money in on time. Then, you have to stay organized with all of the cash and checks collected, plus spend time running them to the bank. With an automated payment solution, you cut out all of these issues.

3. AutoPay is easier for parents

Between a full-time job, running a family, traveling on weekends with the team, and dozens of other things on their plate, writing a check for travel team dues each month is one additional thing to remember for parents. With AutoPay, parents can be confident that travel team fees will be taken care of each month. Plus, they can work it into their monthly budgets as they’ll know exactly when and how much will be taken out each month. With all that parents put into the team, it makes sense to make paying as easy as possible for them.

4. Know in Seconds What is Paid and What is Owed

Keeping track of team payments can be a logistical nightmare. The team has to keep track of exactly who has paid what, and so do parents. Each payment has to be logged by hand, and there has to be communication between teams and parents about what exactly has been paid and what has not. With a serious travel team organization, organizing team payments can end up taking a large chunk of time. By using team payment software, parents and team administrators can log in at anytime and see exactly what has been paid and what is still owed.

5. It’s Easier To Space Payments Out Across the Season

It’s no secret: travel teams can be expensive. But without a payment system in place, some teams feel the need to take a majority of the fees upfront, rather than space them out evenly over the season. This makes the strain on parents even bigger. The rationale is that the team needs to be able to count on having that money to pay for their upcoming costs. Automating team payments provides teams the confidence that they will continue to get paid on time throughout the full season.

6. Enables Travel Team Organizations To Grow

Some small teams can get away without automating team payments. Sure, it may take time and effort, but maybe someone has volunteered to handle payments for the season. But if your travel team organization wants to have multiple teams at multiple age levels, collecting by hand quickly becomes unsustainable. Imagine trying to keep track of 50+ players across 5+ teams. It becomes a full-time job! Any travel team organization with multiple teams or that expects to grow in the future should have a reliable payment system in place.

7. Cut Coaches Out of The Collection Process

Once payments are automated, coaches can go back to what they do best: developing youth athletes. Oftentimes, coaches get bogged down with a lot of the administrative tasks of a team. This can have a couple of effects. First, coaches can become distracted, and not spend as much time on the actual coaching. And second, this can drain coaches’ passion for the position, as they end up “managing” the team more than coaching it. By automating team payments, coaches can put their full focus back on the field.

8. Add Transparency and Accountability to Team Collections

Without a system, team payments are mostly made in the dark. Recordkeeping can be inconsistent, and occasional disagreements about what has been paid can arise. There have also been instances of embezzlement, such as this New York Times article titled “The Trusted Grown-Ups Who Steal Millions From Youth Sports.” A payment system can add transparency and accountability to this process, and help cut down on these conflicts.

9. Having A Professional System To Stay Organized and Attract Serious Players

A team payment system is a sign that your team runs efficiently and effectively. When top players in your region are looking for a new team, having an automated collections system can be an advantage that you have over other teams. Parents love the system because it makes things easier on them, and having a system in place lets them know that your team is run professionally.

Open a Digital Bank Account with Snap! Spend

Here at Snap! Spend, we’re dedicated to making managing your club’s money easy, starting with opening a bank account. Snap! Spend’s digital banking platform gives you an online bank account with built in online payments to collect dues and budgeting tools to track spending. It’s the easiest way to manage your club’s money.