NORTON ATHLETIC FOOTBALL CLUB

FINANCIAL REGULATIONS POLICY

Version: 1.0

Effective Date: 1 July 2026

Review Date: Annually

Approved By: Board of Directors

 

PURPOSE

The purpose of this Financial Regulations Policy is to establish robust financial controls that ensure Norton Athletic Football Club operates in a financially responsible, transparent and sustainable manner.

The Club recognises that long-term success depends upon strong financial management, prudent decision making and the development of diversified income streams.

This policy shall apply to all officers, directors, committee members, volunteers and any individual authorised to commit Club funds

 

FINANCIAL OBJECTIVES

The Club’s financial objectives are:

• To maintain financial sustainability.

• To operate without unnecessary debt.

• To maximise grant funding opportunities.

• To build long-term financial reserves.

• To develop recurring income streams.

• To protect Club assets.

• To support football development.

• To create facilities that benefit the wider community.

The Club shall seek wherever possible to reinvest surplus income into improving facilities, equipment and community participation.

 

FINANCIAL YEAR

The Club’s financial year shall run from:

1 July to 30 June

unless otherwise determined by the Board.

 

BANK ACCOUNTS

The Club shall maintain one or more bank accounts in its name.

All income received on behalf of the Club must be paid into an approved Club bank account.

No individual shall maintain Club funds within a personal bank account.

The Treasurer shall maintain oversight of all banking arrangements

 

AUTHORISED SIGNATORIES

Authorised signatories shall include:

• Chairman

• Secretary

• Treasurer

Additional signatories may be appointed by the Board.

All payments above £1,000 shall require approval from at least two authorised persons.

 

ONLINE BANKING

The Club may operate online banking facilities.

Appropriate controls shall include:

• Secure passwords

• Two-factor authentication

• Restricted user permissions

• Regular monitoring of transactions

The Treasurer shall ensure all users are appropriately authorised.

 

DELEGATED FINANCIAL AUTHORITY

The following expenditure limits shall apply.

Individual Officer Authority

Up to £500

Within their approved budget and area of responsibility.

Executive Leadership Team Authority

Up to £5,000

Approval by any two of:

• Chairman

• Secretary

• Marketing & Growth Officer

Board Authority

£5,001 – £25,000

Requires Board approval.

Strategic Authority

Over £25,000

Requires Board approval and, where appropriate, Member approval.

 

EMERGENCY EXPENDITURE

Where expenditure is required urgently to protect:

• Club assets

• Health and safety

• Regulatory compliance

• Matchday operations

The Chairman and Secretary may jointly authorise expenditure.

A report shall be provided to the Board within 14 days.

 

PROCUREMENT POLICY

The Club shall seek value for money at all times.

For expenditure exceeding:

£1,000

At least two quotations should be obtained.

For expenditure exceeding:

£5,000

At least three quotations should be obtained wherever practical.

The Board may waive this requirement where:

• Specialist suppliers are required.

• Grant conditions dictate suppliers.

• Time-sensitive opportunities arise.

The objective is sensible commercial decision making rather than unnecessary bureaucracy.

 

BUDGETS

An annual budget shall be prepared by the Treasurer.

The budget should include:

• Football operations

• Ground maintenance

• Clubhouse operations

• Utilities

• Sponsorship income

• Membership income

• Merchandise sales

• Grant funding

• Development projects

The Board shall review performance against budget periodically.

 

CASH HANDLING

Cash collections shall be counted by two individuals wherever possible.

Examples include:

• Matchday income

• Clubhouse sales

• Fundraising events

• Membership subscriptions

Cash shall be banked promptly.

No cash shall be retained unnecessarily.

 

CLUBHOUSE REVENUE

The Club recognises the clubhouse as a major future income stream.

Income sources may include:

• Wet sales

• Food sales

• Venue hire

• Community events

• Private functions

• Business meetings

• Sponsorship events

Revenue generated shall be retained by the Club and used to support its objectives.

 

MEMBERSHIP REVENUE

Income may be generated through:

• Club memberships

• 1920 Club memberships

• Digital season tickets

• Supporter memberships

• Community memberships

Membership income shall be used to support football operations and facility improvements.

 

SPONSORSHIP REVENUE

The Club shall actively pursue sponsorship opportunities.

Examples include:

• Shirt sponsorship

• Pitch-side advertising

• Digital advertising

• Website advertising

• Matchday sponsorship

• Clubhouse sponsorship

• Scoreboard sponsorship

• Floodlight sponsorship

Sponsorship agreements may be approved under delegated authority limits.

 

MERCHANDISE REVENUE

The Club shall operate merchandise sales including:

• Replica shirts

• Training wear

• Hoodies

• Polo shirts

• Hats

• Scarves

• Accessories

The objective shall be to generate sustainable profit margins whilst maintaining affordability.

 

GRANT FUNDING

The Club shall actively pursue grant funding opportunities.

Potential funders include:

• Football Foundation

• Sport England

• National Lottery

• Norfolk County FA

• Local Authorities

• Community Foundations

The Executive Leadership Team may submit grant applications without requiring full Board approval where no financial commitment is created.

 

RESERVES POLICY

The Club shall seek to maintain unrestricted reserves equivalent to a minimum of:

Six months operating costs

where financially achievable.

The purpose is to protect the Club against unforeseen events.

 

CAPITAL PROJECTS

Capital projects may include:

• Clubhouse developments

• Car park improvements

• Floodlighting

• Pitch improvements

• 3G facilities

• Additional sports facilities

The Board shall consider:

• Cost

• Funding sources

• Return on investment

• Community benefit

• Long-term sustainability

before approving projects.

 

ASSET REGISTER

The Treasurer shall maintain an asset register.

Assets may include:

• Grounds equipment

• Machinery

• IT equipment

• Furniture

• Floodlighting

• Buildings

• Vehicles

• Minibuses

The register shall be reviewed annually.

 

FINANCIAL REPORTING

The Treasurer shall prepare:

Monthly Financial Summary

including:

• Income

• Expenditure

• Cash balances

• Outstanding liabilities

Quarterly reports shall be provided to the Board.

Annual accounts shall be presented to Members.

 

AUDIT AND REVIEW

The Board may appoint an independent examiner or accountant.

Financial records shall be available for inspection where appropriate.

The Club shall operate transparently and responsibly.

 

FRAUD PREVENTION

Any suspected fraud, theft or financial irregularity shall be reported immediately to:

• Chairman

• Secretary

• Treasurer

The Board shall investigate and take appropriate action.

The Club reserves the right to involve external authorities where necessary.

 

CONFLICTS OF INTEREST

Any officer or director with a financial interest in a proposed transaction must declare that interest.

The Board shall determine whether participation in the decision is appropriate.

Further details are contained within the Club’s Conflict of Interest Policy.

 

REVIEW

This policy shall be reviewed annually.

Minor amendments may be approved by the Board.

Material amendments require Member approval.

Approved by Norton Athletic Football Club

Version 1.0

Effective from 1 July 2026