2.00 - Budget Committee Procedures
2.00.01 The Budget Committee shall be composed of the Treasurer, Ice Director or designate, Equipment Director-House League, Equipment Director – Representative Teams, Referee Director, Registration Director, Vice Chair – Representative Teams, Vice Chair – House League and such other directors as the Treasurer shall appoint. The Budget Committee shall meet to assess the financial needs of Sarnia Hockey Association each season.
2.00.02 The Budget Committee shall estimate the cost for replacing House League equipment as recommended by the Equipment Director-House League. Same as 5.09
2.00.03 The Budget Committee will review the ice costs expected for the upcoming season as presented by the Ice Director or designate.
2.00.04 The Budget Committee will present their findings and a proposed budget to the Association, for approval, no later than one of the regularly scheduled meetings in June.
2.00.05 The Audit Committee shall be composed of the First Vice-Chair and two (2) or more directors appointed annually by the Association. The Audit Committee shall review the financial records of the Association monthly and arrange for an annual audit by an organization outside the Association.
2.00.06 Incidental expenses will be approved monthly by the Vice Chair – Administration.
2.00.07 Expenses incurred by the House League Referee Assignor will be evaluated annually by the Association.
2.00.08 Sarnia Hockey Association may advance money to Representative teams. Monies to be used for entry fees into tournaments, such monies will be repaid to the Treasurer no later than November 1st of the current hockey season.
2.00.09 A loan to a Representative team will be capped at $5,000
2.00.10 The financial signing authority for Sarnia Hockey Association account will be any two (2) of Chairperson, First Vice-Chairperson, Past-Chairperson, and the Treasurer.
2.00.11 All Sarnia Hockey Association tournaments must have their budgets submitted to the Treasurer 30 days before their tournament begins.
2.00.12 Every tournament sponsored by Sarnia Hockey Association will submit all income and expenses to the Treasurer. A complete report of tournament finances will be submitted within 45 days of the end of the tournament.
2.00.13 All approved clinics will be conducted through the ALLIANCE.
2.00.14 Representative A/AA, MD and Select Team Budgets
The SHA Team Budget Policy is a requirement for teams as they prepare their budgets for the season. The budget must be prepared and approved by the team parent group prior to when the team’s season begins, fundraising activities start or the team’s first game is played. Interim reports must be prepared and presented to the parent group prior to December 31 and a final report must be prepared at the end of the season, preferably prior to April 1. The initial, interim and final reports must be backed up with bank statements and presented to the SHA First Vice Chair for review.
Teams may raise funds for tournament and travel expenses (or for extraordinary play down travel expenses), tournament entry fees, keepsakes (up to an approved amount), team functions (Christmas Party or Year End), tournament accommodations for non-parent officials and team supplies.
Teams may not raise funds to offset the cost of registration fees, ice assessments, tournament accommodations for players and meals for parents or siblings at tournaments.
Due to the onerous licensing requirements by the Alcohol and Gaming Commission of Ontario (AGCO), lotteries or raffles are not permitted for team or group fundraising under the Sarnia Hockey Association.
Any fundraising that the team participates in, is to be used for team expenses. Fundraising is not to be used for the financial gain of the parents, therefore, fundraising cannot exceed the Teams budget.
Failure to abide by the Team Budget Policy will result in forfeiture of ice privileges.
Sarnia Hockey Association will not be held responsible for the direct handling of team funds.