Introduction
At the Welland Soccer Club (WSC), we are committed to maintaining the highest standards of financial integrity and accountability. This Financial Policy is designed to ensure transparency in all our financial dealings, covering membership fees, refunds, and financial assistance. Our goal is to conduct club operations in a financially responsible manner, ensuring both value to our members and long-term sustainability for the club.
Membership Fees
- Setting of Fees: Membership fees are set annually by the WSC Board of Directors, based on the operational needs of the club and the value provided to members.
- Notification: Members will be notified of the annual fees and any changes from the previous year at least one month before the new season or membership year begins.
- Payment Terms: Payment of membership fees is required at the time of registration. Payment plans or alternative arrangements can be made on a case-by-case basis.
- Youth Competitive Registration Fees: Fees for the Youth Competitive program are set annually by the WSC Board of Directors. These fees reflect the additional costs associated with competitive play. It is mandatory that these fees be paid in full prior to the start of the season. Players who have not completed payment will not be eligible to participate until full payment is received.
Refunds
- Refund Policy: WSC has a clear refund policy for membership fees. Refunds may be requested within a specified period after registration, subject to an administration fee.
- Circumstances for Refunds: Refunds after the specified period may only be considered under exceptional circumstances, such as long-term injury, relocation, or other significant life events.
- Processing of Refunds: All refund requests must be submitted in writing and will be processed within 30 days of approval.
Financial Assistance
- Assistance Program: WSC is committed to ensuring that all individuals have the opportunity to participate in soccer, regardless of financial circumstances. A financial assistance program is available to support members in need.
- Eligibility and Application: Information on eligibility, application processes, and deadlines will be made available on the WSC website and through club communications.
- Confidentiality: All applications for financial assistance will be treated with the utmost confidentiality.
Financial Reporting
- Annual Reports: WSC will publish an annual financial report detailing income, expenditures, and financial position. This report will be made available to all members.
- Auditing: The club’s financial accounts will be audited annually by an independent auditor, and the findings will be reported to the membership.
Budgeting and Expenditures
- Budget Approval: The annual budget, including projected income and expenditures, must be approved by the WSC Board of Directors.
- Expenditure Authority: Expenditures exceeding budgeted amounts by a significant threshold must receive prior approval from the Board.
Transparency and Accountability
- Open Books: WSC maintains an open-book policy where members can request to view the financial records of the club.
- Member Queries: Members are encouraged to raise any financial queries or concerns with the WSC Board of Directors or the designated financial officer.
Policy Review
- Regular Review: This Financial Policy will be reviewed annually to ensure it continues to meet the needs of the club and its members.
Conclusion
The Welland Soccer Club’s commitment to financial transparency and accountability is foundational to our operations. By adhering to this Financial Policy, we aim to provide exceptional value to our members and secure the future sustainability of the club.