Managing the finances for a youth sports organizations can be quite an undertaking. Most clubs are managed by a board and have annual turnover of its members. US Youth Soccer has some great recommendations when it comes to managing the organizations’ finances

1. Use a minimum of two bank accounts. The first account should be used as an operating account. The second account should be used as an investment.
2. The name on the bank account should always be the name of the club not an individual’s name.
3. The bank used should be insured by the FDIC and the amount in the account should never exceed the maximum amount insured.
4. It is recommended that all checks be signed by two board members
5. The person that reconciles the bank accounts should not have check signing privileges.
6. It is recommended that the finances be audited every two years by an independent accounting firm not affiliated with the board of directors.
7. Cash and check deposits should be done on a daily basis. The person completing the deposits should not be the same person that makes the bank deposit.

Following these steps should allow your organizations to keep track of its funds and prevent any improprieties from happening.