Naydenov Gymnastics
Booster Club
Budget &
Financial Procedures
Effective Date
2009
The purpose of these procedures is to supplement the standing by-laws of Naydenov Gymnastics Booster Club (Booster Club), and to further clarify the budget and financial activities of the organization.
Fiscal Year
The
fiscal year of the club runs from September 1 through August 31.
The Annual
Budget
The
Booster Club’s annual Budget is divided into two components – 1. The Administrative Budget, and 2. The
Competitive Budget.
The Administrative Budget. Within the first three months of the Booster
Club’s fiscal year, the Club will approve an Administrative Budget. The Administrative Budget is a reconciliation
of the Club’s Administrative Fund from the previous year, and includes an
estimate of the costs needed to run the business of the Club for the current
year. Included in the Administrative
Budget is reconciliation and recommendations relating to the Club’s National
and Elite Fund.
The
Club Treasurer will chair a committee to assist in the preparation and
presentation of the Administrative Budget.
Included in this budget will be.
1. An itemized list of expected Administrative Expenses for the current year, such as coach’s fees and licenses, the cost of coach’s training, postage and supplies, bank fees, and tax preparation fees. Coaches training consists of two separate line items; Amount for Optional Coaches and an Amount for Compulsory coaches. Details are outlined below:
a. Optional Coaches – As funds are available as determined during the budget process, Optional Coaches are to be supported by the Club to attend one national training session and one local or regional training session. Amounts budgeted may not cover all costs necessary to attend but should include registration fee, airfare and may include a portion of the hotel costs.
b. Compulsory Coaches – As funds are available as determine during the budget process, Compulsory Coaches are to be supported by the club to attend one local or regional training not to exceed $250 per coach.
c. If funds have been budgeted for the Optional Coaches to attend a national training program and they decide not to attend. Those funds previously budgeted may be made available for use by the Compulsory Coaches. The funds are to be divided by the total number of Compulsory coaches who have been a team coach for longer than 12 months. That amount if not used by the Compulsory coach will then rollover to the next year’s budget. The funds may not be transferred between Compulsory Coaches. The Compulsory coaches are required to first attend a local or regional training camp and may only attend a National Training Camp sponsored by the club every other year.
2.
An estimate of income derived from any General Fundraisers for the
current year.
3.
A summary of excess/deficient funds resulting from the previous year’s
activities, with a recommendation of how to apply/cover these funds.
4.
A summary of excess/deficient funds resulting from inactive Optional
and Compulsory Accounts, with a recommendation of how to apply/cover these
funds.
5.
A recommendation as to the handling of any reserve funds.
6.
A recommendation as to the amount to be added to each Optional and
Compulsory gymnast’s assessment for the purpose of covering administrative
expenses.
7.
A summary of funds remaining for National Competitions as a result of
previous year’s activities.
8.
A recommendation as to the amount to be added to each Optional and
Compulsory gymnast’s assessment for the purpose of supporting National
Competitions.
9.
A recommendation as to the amount of funds available for National
Competition which will be made available for current year events.
10.
Other recommendations as determined by the Board.
Procedures
for approving, amending and dealing with variations to the Administrative
Budget are detailed in the By-Laws.
The Competitive Budget. One month prior to the first competition of
the year, the Club will approve a Competitive Budget. The Competitive Budget is the estimated costs
needed for a gymnast to participate in a competitive season, excluding
post-season competitions.
The
Vice President of Competitions and Communications will chair a committee which
will include the Club Treasurer and each Team Representative, to assist in the
preparation and presentation of the Competitive Budget. The process to complete this budget is as
follows:
1.
A representative of the committee will gather input from the coaches to
determine the meets that will be attended by the competitive teams.
2.
The committee will estimate the costs of each meet by team, including
coaching costs and meet fees. The
estimate will include coach’s costs for Sectionals and State. The estimate does not include meet fees for
State or Sectionals, or any costs for other post-season meets.
3.
Total meet costs by team will be allocated to each team member to
determine total meet costs per gymnast.
4.
Other competitive costs will be added, such as annual USAG registration
fees and competitive clothing, to determine an estimated total competitive cost
for each gymnast.
Procedures
for approving the Competitive Budget are detailed in the By-Laws.
The
Assessment
The
Assessment is the amount of money needed to fund your child through a
competitive season. It includes the
administrative fees and national fund contributions as determined by the
Administrative Budget, and the estimated competitive costs for your child as
determined by the Competitive Budget.
Each
parent/guardian will be asked to make donations into the Club equal to their
individual Assessments. Donations may be
made outright, or by earnings through fundraisers. Assessments
may also be satisfied by excess donations carried over from
previous years.
In
conjunction with the approval of the Competitive Budget, the Club will
determine dates for which Assessment donations are due. Parents/guardians who do not have enough
money in their account at the time the assessment is due will need to make a
donation to the Club for the difference, unless otherwise approved by the
Board.
Because
the Assessment contains only an estimate of competitive costs, variances may
occur when actual costs are incurred. At
the end of the competitive season, the actual costs will ultimately be the
amount that parents/guardians are asked to donate.
Fundraisers
Fundraisers
will be organized by the Club to help offset the costs of competition. Fundraisers will be designated as either:
1.
A General Fundraiser. General Fundraisers are for the benefit of
the Club as a whole, where the use of the earnings is determined in the next
year’s administrative budget process. All “new” fundraisers that become known
and available to members on short notice and without being able to hold a
booster club meeting will be designated general fundraisers. All other
fundraising designations will be determined at the monthly Booster Club
meetings, as they become known, by approval of the members present.
2.
An Individual Fundraiser. An Individual Fundraiser is one where the
efforts of the individual are directly credited to a member. Volunteers may work for the benefit of other
gymnast, but must declare this intent prior to the event.
3.
Level-Specific Fundraiser. A Level-Specific Fundraiser is for the
benefit of a specific level of competition.
An example would be a fundraiser designated for the Elite Fund.
Fundraising Chairpersons. Individuals who volunteer to chair an NBC
fundraising event. Chairpersons are
nominated by Booster Club members and approved by those present at monthly
Booster Club meetings. Fundraising chairpersons have the responsibility of
collection of funds resulting from the event and appropriately accounting for
all member funds earned. If a fundraising event results in a shortage of money
either due member participants or the club, the Fundraising chairperson is
responsible for the shortage at the time it becomes known.
Donations will be credited to members as they are received. Costs will be applied to members as they are incurred. Specific policies relating to member donations and costs are outlined below.
Coach’s Costs. Coach’s costs for competitions will be
divided equally between all the members of the team. If teams share a coach, the costs for the
coach will be allocated between the gymnasts from both teams.
The following are a list of coach’s costs:
1.
A session fee will be paid for each session a coach works during the
course of a competition.
·
$50 per session will be paid to
Compulsory Team coaches with 0-4 years experience and to all level four coaches
regardless of experience.
·
$75 per session will be paid to
Compulsory Team coaches with 5 years of experience or more and Optional Team
coaches with less than 0-4 years experience.
·
$100 per session will be paid to
optional team coaches with 5 or more years experience coaching a level seven or
higher competitive team and who participate in coaching two or more events per
session.
·
$75 per session will be paid to
an Optional Team coach (w/ 5 years or more experience) that participates in
only one event per session.
·
Only two coaches per session per
practice team will be compensated by NBC.
·
Practice sessions for fly-away meets will be paid to Optional Team
coaches at a rate of $25 per hour of practice per coach not to exceed $100 (per
coach) for any one session.
2.
Hotel costs will be provided for competitions outside the
3.
Mileage expense at standard mileage rate per the IRS for competitions
held more than 50 miles away.
4.
Meal Per Diem will be paid as follows:
Location
|
Portland/Seattle Area
|
Major US Cities |
Breakfast |
$10 |
$10 |
Lunch |
$10 |
$15 |
|
Dinner |
$15 |
$20 |
|
Total |
$35 |
$45 |
Partial days will be paid
depending on the time of day worked.
5.
For fly-away meets, other travel expenses will be paid as follows:
§
Airfare in coach or economy class at the lowest available fare.
§
Transportation costs, including car rentals for compact or mid-sized
cars, airport shuttles, taxi fares when no other less expensive alternative
exists, and parking. Coaches must select the supplemental rental agency insurance
if their personal insurance coverage does not cover them while out of town on
business.
Prior
to each competition, Coaches will be provided a check/form prepaying them for
the expenses listed above. Coaches will
attach all receipts, sign and return the form within seven days following the
meet. Coaches may also be asked to
minimize expenses by sharing expenses, i.e., rental cars, and hotel rooms.
Team Definition for
Assessment Purposes. Individual gymnasts will be assessed and share costs
as defined in their assessment with only their “practice team.” Within their practice team it may be further
divided by level or other means. But, no
practice team will incur the costs of another practice team or other practice
team coach for regular season meets, sectionals and state meets.
Post Season Meets. Post-season meets are not considered in the
competition budgeting process. Examples
are Regional and National meets, and any other “added” meet following the
season. Fees for these meets are paid by
only those gymnasts attending the meet.
Meet Attendance. Gymnasts who do not attend a regular season meet are
still responsible for their portion of the coach’s costs. If the meet fee has already been paid for the
gymnast, it will be credited back to the gymnast only if a refund is granted by
the host gym.
Injury. The club has specific policies that apply if the
gymnast is unable to participate in a portion of the season due to injury.
1.
If the gymnast is unable to compete due to illness, injury or coaches
discretion for at least three consecutive meets (one-half of the regular
season) then the gymnast will be responsible for ½ of the regular season
coaching costs, and all of the administrative and National Fund assessment.
2.
If the gymnast is unable to compete due to illness, injury or coaches
discretion for the entire season, then the gymnast is responsible for only the
administrative and National Fund assessment.
Year-end Excess Funds. Any remaining member funds after the competitive
season is over will be carried over to the subsequent year to help offset
future competitive costs for the gymnast.
However, after the season and prior to July 31st,
parents/guardians may submit receipts for reimbursement to the extent that
funds are available for their gymnast’s travel expenses.
Fees paid directly to a competitive coach for choreography of a competition routine and the purchase of floor music may be included in reimbursable expenses.
Inactive Members. If a gymnast no longer qualifies as a “competitive
gymnast” as defined in the by-laws of the club, the assets of the member will
be placed in an “inactive” status. The
inactive status will remain for one year.
If the gymnast returns to competitive gymnastics at the gym, the member
assets will be reactivated. If after a
year the gymnast has not returned (i.e. left the gym), then the assets will be
donated, to the NBC general fund. Any deficit will be accounted for in the next
Administrative Budget process.
Transfer of Funds. Transfer of funds between member’s is not
allowed. The lone exception to this is
for transfers between family members.
The
National Fund
The
National Fund is the portion of donations that have been designated to support
National Competitions.
The
Booster Club will support the following National Competitions.
1
Level 8, 9 and 10 Regionals.
2
Level 9 Westerns.
3
Level 10 Nationals.
4
One Elite National or International Competition.
To
the extent that funds are available, the following guidelines will be applied
to cover National Competitive Expenses.
1.
The funds available will be divided between the National Competitions
attended by Naydenov Competitive gymnasts.
2.
Each year, the Booster Club Administrative Budget will include a
maximum amount of funds that can be applied against any National Competition,
based upon the total funds available.
3.
Available funds for each National Competition will first be applied
against coach’s expenses.
4.
To the extent that available funds exist after coach’s expenses, these
funds will first be applied equally against unpaid coach’s expenses from other
National Competitions supported by the Booster Club.
5.
To the extent that funds exist after all national fund allocations,
funds can be applied against gymnast’s airfare, lodging costs and meet fees
upon application for these funds. The
gymnasts may apply for these excess funds to help offset their expenses.
6.
Any coach’s expenses not covered by the Booster Club are split equally
between gymnasts attending the meet.
See
attached examples of National Fund Expense Allocations.
The Elite
Fund
In
addition to the single Elite Competition supported by the Booster Club in the
above National section, the Booster Club may raise additional funds
specifically to assist the competitive costs for an Elite gymnast.
The limitations to the distribution of these funds will also be approved on an annual basis in the budget.
Prize Money
From
time to time prize money may be earned by NBC gymnasts at meets. Prize money is usually awarded for team
placement but not always. Prize money
received will be distributed as follows:
Amounts < $0-500 – 100% to
applicable team coaches
Amounts > $501 – 50% to
applicable team coaches and 50% to NBC.
Moneys
earned will be accounted for in the annual administrative budget as approved by
the general membership.
NAYDENOV BOOSTER CLUB GIRLS SCHOLARSHIP FUND
The Naydenov Booster Club will annually provide a scholarship for any gymnast that has completed three full and consecutive seasons, who without scholarship funding would be unable to participate in competition (Provided that there are sufficient funds) due to extraneous circumstances (i.e. loss of job, death, divorce, etc). Monies allotted for this program will be recommended by the budget committee during the annual budget process and approved by a vote of the general membership. These funds will come from NBC as well as specific fundraisers designated to the NBC scholarship fund. Funds then will be divided between those who qualify after General Membership approval.
QUALIFICATIONS:
1. The
gymnast must have competed for three consecutive and full seasons
for
Naydenov Gymnastics.
PROCEDURES:
1.
The scholarship funds may
only be used to help offset the competitive assessment, and will be dispersed
in increments to offset competition costs as they come due. (Not to exceed the
amount allotted by the General Membership).
2.
The scholarship funds may
only be used during the competitive season.
3.
Any scholarship funds not
used during the competitive season will revert back to the scholarship fund.
4.
Prior recipients may not
carry over funds to a future season; they will be required to re-apply each
year for re-evaluation.
5.
Assessment costs exceeding
the scholarship monies allotted to the recipients will be required to be paid
in accordance to the assessment payment schedule. If these payments are not met
all applicable procedures and by-laws will apply.
Naydenov
Gymnastics Booster Club
National Fund
Expense Allocations
Example 1.
Amount
allocated in Administrative Budget for each National Competition =
$3,000.
Regional
Competition in Hawaii. National
Competition
Attended by 4 coaches. Attended by 1 coach.
Attended by 8 gymnasts. Attended by 1 gymnast.
Coaches Costs =
$4,000 Coach
Costs = $1,200
Allocation
of Funds Available.
Funds Available for Regional Meet $3,000
Regional Meet Coaches Costs 4,000
Deficit from Coaches
Costs ( 1,000)
Paid by National Meet Excess Funds 1,000
Balance $ 0
Eight attending gymnasts pay own meet fees and travel
expenses.
Funds Available for National Meet $3,000
National Meet Coaches Costs 1,200
Excess Funds 1,800
Allocated to Regional Meet Coaching
Costs 1,000
Excess Funds $ 800
Upon application for and approval by the Board, one
attending gymnast may submit receipts for up to $800 for meet fees, airfare and
lodging costs.
Naydenov
Gymnastics Booster Club
National Fund
Expense Allocations
Example 2.
Amount
allocated in Administrative Budget for each National Competition =
$3,000.
Regional
Competition in Hawaii. National
Competition
Attended by 4 coaches. Attended by 2 coaches.
Attended by 8 gymnasts. Attended by 2 gymnasts.
Coaches Costs = $4,000 Coach Costs = $2,500
Allocation
of Funds Available.
Funds Available for Regional Meet $3,000
Regional Meet Coaches Costs 4,000
Deficit from Coaches
Costs ( 1,000)
Paid by National Meet Excess Funds 500
Balance ($ 500)
Eight
attending gymnasts are assessed pro-rata portion of unpaid coaches costs
($62.50 each) and pay own meet fees and travel expenses.
Funds Available for National Meet $3,000
National Meet Coaches Costs 2,500
Excess Funds 500
Allocated to Regional Meet Coaching
Costs 500
Excess Funds $ 0
Both attending gymnasts pay own meet fees, airfare
and lodging costs.