NSC Team Treasurer Information
The Team Treasurer is appointed by the Team and is responsible for managing the team’s finances. The Team Treasurer is only responsible for funds associated with team members.
Duties of the Team Treasurer
- Manage team funds
- Team funds include fees for tournaments, reimbursable expenses (hotel, meals and travel costs), and general team expenses (bench, canopy, party).
- Keep a record of the fees paid by each player.
- Team Treasurers should provide a report of team income and expenses on a quarterly basis.
- Players who are receiving scholarships or hardship funding are considered confidential information. Players that receive a scholarship are still responsible for team fees unless the team decides to cover them.
Guidelines for Team Checking Accounts
- The Checking account must be non-interest bearing.
- The “Team” checking account should be used for team expenses and team fees.
- The “Team” checking account may not be used for retaining money raised from team fundraising.
- The Account name shall not include “NSC” or “NYSA”. The NYSA Tax ID number cannot be used to open a team account.
- Check with local banks for low fees and minimum balances.
- All fundraising must be approved by the NSC Executive Committee.
- NYSA holds all funds collected by a team from fundraising activities in a NYSA held Team Account.
- The purpose of this is to document that funds raised and matching funds are used for activities and not simply to raise money which would violate our tax exempt status.
- To access these funds, the Team Treasurer shall submit a properly completed “NSC Team Expense Report Form” along with copies of appropriate receipts documenting the expenses claimed. These should be submitted to the NSC Treasurer by email firstname.lastname@example.org.
Is the account a personal account or an account filed under the NYSA charity?
A: It is personal, but should be a separate account from the treasurer’s personal funds.
What local banks do this for free?
A: BECU has done this for teams for no-cost in the past.
Can Accounts be reused when you get a new treasurer?
A: No. A new account is required.
Can we use Venmo/Paypal/ZellePay/Etc?
A: Electronic forms of payment can be used to collect the money that can then be transferred into the Team bank account. Check with the bank you are using to make sure they allow transfers to and from that source prior to accepting payments.