Tag Archives: controlling cash

Where is my money going? Why controlling the money for your soccer tournament is key to success

Often, we have requests from soccer tournament directors to set up their Web site so that the team fees go to this mailing address, the credit cards go to another, the t-shirt orders go off to yet another address and the pre-orders for the college showcase books go to another. While delegating different functions to different people is key to running an effective soccer tournament, delegating control of the money is not.

You don’t have to go very far to find a story about the trusted soccer club volunteer who was caught siphoning off the top. A soccer tournament pulls in a lot of cash. A lot of cash also goes out to pay referees, field fees, vendors, etc. For many organizations, acts of embezzlement can be the death of their club or tournament. And the less likely you think it will happen to you, the more at risk you place yourself.

When teams need you to research a lost check or provide a refund, they like to know that their funds are in the hands of you, the tournament director. They NEED to know there is a system of control in place.

Our Advice: Use one mailing address for ALL funds, from the team fees to the shirt pre-order to everything that the soccer tournament takes in. If you can send the money to a lock box at your local bank, that is even better. A PO Box is good, but checks should never be sent to someone’s home, especially when that person has a day job and their mail could potentially sit in an unattended mail box for hours.

Be transparent. Always have at least two people knowing about each transaction at all times.

An honest person would never object to tight controls in place. In fact, a prudent person would never want to handle or transport checks or cash alone or even at all.

Take control of the money. Always.

March 18, 2010 Update: Soccer America’s YouthSoccerInsider just published an article that is a must-read for all soccer tournament directors.