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Financial
Management Support Project
Background
The Financial Management Support Project emerged from industry feedback
to WA Sports Federation and the Department of Sport and Recreation.
The industry highlighted concern with the drain on resources required
to
do their accounts, potential issues pertaining to the accuracy, quality
and legality of information and the difficulty in finding personnel to
take responsibility for financial aspects of their organisation.
The three year project commenced in September 2008. The two
main aims of the project are:
- To design and implement a financial framework for sport and
recreation organisations, to improve the quality of financial
information, efficiency of processing and consistency of approach; and
- Train and support Boards, staff and volunteers to prepare and use
their financial information to better run and plan their organisation's
business.
Current
Situation
The Financial Management Support Project has expanded its original
aspiration to support state sport and active recreation associations
with their general finance management. The focus of the expansion is to
develop and implement resources and tools that will remain available
after the conclusion of the project. These resources include:
- A budgeting and reporting tool;
- A series of templates including financial policies and procedures
to support the financial framework; and
- A business planning tool designed to assist organisations to link
their operational planning with their financial planning.
The project remains open to state sport and active recreation
associations and further information can be requested though WA Sports
Federation on 9387 8100 or by emailing info@wasportsfed.asn.au.
WA Sports Federation recognises the valuable support of the Department
of Sport and Recreation and Lotterywest in delivering the Financial
Management Support Project.
 
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