Financial reporting is how you prove your club is run well. It gives the committee a clear, accurate picture of the club's financial health, allowing them to make smart choices.

Good reporting supports the principles of:

• accountability
• transparency
• integrity
• inclusiveness
• effectiveness

Why financial reporting matters

Financial reports show how your club is performing and help guide smart decisions. They also give members confidence that the club is being run properly.

Your reports should:

• be available to all members
• allow time for review and questions
• be ratified at your Annual General Meeting (AGM)

Key financial reports

Your club should prepare the following reports regularly:

• Income and expenditure statement
  Shows money coming in and going out over a set period. Also called a profit and loss statement.
• Balance sheet
  A snapshot of your club’s assets, liabilities and equity at a specific point in time.
• Cash flow statement
  Tracks the movement of cash in and out of the club.
• Annual financial statement
  A full set of reports prepared to accounting standards. These may need to be independently audited or reviewed depending on your club’s legal structure.

Filing your reports

Your club must file financial reports with either:

• https://www.charities.govt.nz/ – if registered as a charity
• https://isregister.companiesoffice.govt.nz/ – if registered as an incorporated society 

Choose the right reporting standard

Use the correct reporting standard for your club’s legal status. For help:

• https://www.charities.govt.nz/reporting/reporting-standards/
• https://sportnz.org.nz/resources/reporting-standards-for-charities/ (placeholder link)

When to get professional help

Consider using a qualified accountant or financial advisor if your club:

• has annual revenue over $500,000
• makes complex transactions or investments
• is registered for GST
• receives grant funding with reporting requirements

Audits

Your club may need an audit depending on its legal structure and constitution. An audit checks that your financial statements accurately reflect your club’s financial position.

Audits can take 6 to 8 weeks. Your auditor will need:

• cashbooks, journals or accounting software records
• bank statements for the full year
• receipt books (used and unused)
• payment vouchers in order
• minutes from meetings showing financial decisions
• previous audit statements
• all financial statements for the year
• invoices paid
• income receipts and membership details
• any other relevant financial documents

You can use a qualified volunteer or a professional auditing service.

Related guidance

https://sportnz.org.nz/resources/financial-management-plan/ (placeholder link)

Sport NZ resources

https://sportnz.org.nz/resources/reporting-standards-for-charities/ (placeholder link) https://sportnz.org.nz/resources/finance-policies/ (placeholder link)

Find out more

For full guidance on your reporting obligations, visit: https://www.companiesoffice.govt.nz/