St. Cloud, FL – The Friends of the Southeastern Region kicked off their education series in Florida this past weekend.
To help teach this class, FOSER brought in special trainers Richard Waler, Jr. from Florida District 11, Jen Colvin, Southeast Region Director, and Dave Houseknecht, Senior Vice President Administration & Chief Financial Officer of Little League Baseball.
Local Little League attendees learned about how they may all be volunteers, they are, however also small businesses handling significant amounts of cash, and handling many vendors.
Dave Houseknecht started the training by discussing many of the common pit falls and accounting mishaps that are occurring in organizations nation-wide, including some other Local Leagues. Some issues that have become common are things as simple as missing receipts, all the way to complete and outright theft by board members.
To help protect your league, some of Dave’s recommendations are:
- Try to prevent related board members from serving together, especially in financial duties.
- The treasurer should not feel intimidated or be afraid to ask/demand receipts for all transactions.
- Debit/Credit cards should be avoided, and all of these transactions should be documented.
- The financial committee should be overseen by an audit committee, of which very few of the audit committee members are on the financial committee.
- League financial reports are due annually to the Region office.
- The crime insurance option on league charters is highly recommended.
After a lunch break, Richard Waler, Jr. went on to discuss more local topics such as Florida Sales Tax, Florida Corporation Registrations, and IRS non-profit status. Richard had even put together an outline that showed all the organization registration documentation a league would need to follow up with annually to maintain their status.
The FOSER League Financial Management Training seminar was a fantastic success, for FOSER, for our leagues, and for Little League Florida. 38 representatives from 19 different leagues were in attendance. With this partnership, Little League Florida looks forward to many more trainings and topics in the future.