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Why use our Services?
EXPERIENCE * INSIGHT * PEACE OF MIND
Committee / Board Members' are the stewards of a club. This honorary role is undertaken by a huge number of Victorians who donate countless hours to keep their beloved club running. Why then should these people subject their personal wealth to risk?
Committees are elected by club members to fulfill the objects of the constitution. Their roles and duties normally incorporate the safeguarding of assets, providing financial stability for the club and ensuring it operates as a going concern, and providing improved services to members.
Committee members' personal assets may be at risk in some circumstances e.g. incorrect decisions (negligence) and failure to detect fraud. Often insurance policies for officers will have clauses that do not provide cover in some circumstances.
Cummings Flavel McCormack has dedicated and experienced professionals that can provide the tools necessary for Committee members to safely carry out their duties and mitigate these risks.
Most clubs do not employ full time financial controllers because it is not cost effective. This is where we can help your club. We can assume the role of a part-time financial controller. The advantages to you are:
- Expert presentation of financial information.
- Value-adding commentary from Club experts on your club's financial performance.
- We ensure you satisfy your taxation and financial reporting obligations.
- Very cost effective financial management. Simply put - we reduce Committee members' risk, and increases the club's financial stability and governance.
In addition, with over a decade of experience within the clubs industry means that we can assist your club:
- Run more efficiently
- Optimise and grow profits
- Plan and strategise
- Minimise your tax liabilities
- Raise finances
- Operate compliantly
“CFMC have provided direction to the Committee on large renovations the Club has undergone, the recent gaming auctions, general trading issues and broader industry trends. CFMC’s knowledge and experience in our industry along with equally qualified staff has benefited us immensely and we will continue our partnership for many years to come. I would recommend CFMC to any new potential client looking for strong, correct and informative financial support for their business or company.
Robert Marino – Club Manager - Italian Sports Club of Werribee”
“With the help of Peter Vasta and his staff, the Club worked there way through it’s long outstanding taxation issue and eventually negotiated a mutual settlement with the Australian Taxation Office. The club in conjunction with CFMC has now built a long term Business Plan which helps us make financial decision making better and in particular long term Gaming forecasts. The Club now receives detailed Quarterly Reports that provide trading tips and trends throughout the industry that helps us better manage our business .”
Alan Jones – General Manager - The Lakeside Club Sale
Please call Peter Vasta on (03) 9252 0800 for a no obligation discussion about your club’s particular needs.
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