Financial Assurance
Well managed organisations tend to be more successful, sustainable and prepared in the event of an emergency. How does your sports club, association, group or charity ensure the longevity and future of your offer?
Is your structure set-up for the long-term and able to accommodate growth with interest?
You’ll find information and resources on the quality standards Jersey Sport recommend to create an inclusive, secure and reliable platform for all sport and physical activity provision on island, below.
Quality Standard 1
The organisation boasts strong financial assurance and on-going good practice for a sustainable and healthy financial position.
Recommendations:
- The organisation holds its own independent bank account
- There are two independent signatories on the organisation’s bank account
- Clear and guaranteed annual accounts are reviewed independently by someone other than the person who has prepared them
- All final accounts are made available to members or appropriate persons
- The organisation declares and identifies their tax position to the Jersey Comptroller of Taxes on an annual basis
Resources:
Quality Standard 2
The organisation clearly outlines their financial structure and intentions, abiding by legal and moral requirements as necessary.
Recommendations:
- The organisation’s constitution/governing document is supported by details of the financial structure – e.g. unincorporated, incorporated (limited by guarantee, by shares)
- Registration and adherence to the relevant financial controller, e.g. Jersey Financial Services Commissioner, Charities Commissioner
Resources:
Jersey Charities – Help to run your charity efficiently and effectively
Jersey Charity Commissioner – Main website
Jersey Financial Services Commission – Main website
Jersey Financial Services Commission – About non-profit organisations
Jersey Financial Services Commission – When would a non-profit organisation need to register?
Find out the benefits of your sports organisation becoming a registered Jersey Charity: