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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 fulfil 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 increase the Club’s financial stability and governance.
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