Budget Management
Fundraising Cash Flow: Managing 50/50s, Raffles, and Team Funds

Fundraising Cash Flow: Managing 50/50s, Raffles, and Team Funds

Effective fundraising can significantly reduce the financial burden on families while building team spirit. However, managing multiple fundraising activities requires careful tracking and clear separation of funds to maintain transparency.

Understanding Fund Types

Operations Funds

Operations funds are unrestricted money that can be used for any team expense:

  • General fundraising proceeds
  • Surplus from team activities
  • Donations without specific restrictions

Restricted Funds

Restricted funds have specific purposes and cannot be used for general expenses:

  • Tournament-specific fundraising
  • Equipment fund donations
  • Memorial or scholarship funds
  • Funds earmarked for specific players or activities

Popular Fundraising Activities

50/50 Draws

50/50 draws are highly effective but require careful management:

Best Practices:

  • Track ticket sales by seller for accountability
  • Record draw results and winner payouts
  • Maintain clear documentation for gaming regulations
  • Set aside 50% immediately for the prize pool

Common Pitfalls:

  • Mixing 50/50 proceeds with general funds
  • Poor record-keeping for regulatory compliance
  • Not accounting for gaming licence fees

Raffles and Prize Draws

Raffles offer excellent profit margins with proper planning:

Planning Tips:

  • Source donated prizes to maximise profit
  • Price tickets competitively
  • Track sales by individual for incentives
  • Plan draw timing for maximum participation

Financial Management:

  • Record prize costs separately from ticket sales
  • Track net proceeds vs gross sales
  • Account for licence fees and administrative costs

Bottle Drives and Recycling

Consistent revenue streams that engage the community:

  • Track collection by family or player
  • Record depot receipts carefully
  • Consider transportation costs in net calculations

Tracking and Documentation

Essential Records

Maintain detailed records for each fundraising activity:

  1. Activity Planning

    • Projected costs and revenues
    • Licence requirements and fees
    • Volunteer assignments
  2. Sales Tracking

    • Individual seller performance
    • Payment methods and timing
    • Outstanding receivables
  3. Financial Settlement

    • Gross revenues
    • Direct costs (prizes, licences)
    • Net proceeds
    • Fund allocation decisions

Regulatory Compliance

Different provinces/states have varying requirements for fundraising:

  • Gaming licence requirements for 50/50 draws
  • Raffle licence thresholds
  • Record retention requirements
  • Reporting obligations to regulatory bodies

Separating Restricted and Operations Funds

Creating Clear Categories

Establish distinct budget categories in your financial system:

Operations Categories:

  • General fundraising revenue
  • Unrestricted donations
  • Surplus from team activities

Restricted Categories:

  • Tournament-specific funds
  • Equipment replacement fund
  • Player assistance fund
  • Memorial or special purpose funds

Fund Allocation Process

  1. Immediate Classification: Categorise funds upon receipt
  2. Clear Documentation: Record the purpose and any restrictions
  3. Separate Tracking: Maintain distinct accounting for each fund type
  4. Regular Reconciliation: Ensure fund balances match intended purposes

Best Practices for Sustainable Fundraising

Planning and Goal Setting

Annual Fundraising Plan:

  • Set realistic revenue targets
  • Diversify fundraising activities
  • Schedule activities to avoid conflicts
  • Plan for seasonal variations

Goal Allocation:

  • Determine what percentage goes to operations vs restricted funds
  • Set targets for specific needs (equipment, travel, tournaments)
  • Communicate goals clearly to families

Communication and Transparency

Regular Reporting:

  • Monthly fundraising summaries
  • Clear breakdowns of restricted vs operations funds
  • Progress towards fundraising goals
  • Recognition of top contributors

Clear Policies:

  • Written fundraising policies
  • Fund allocation guidelines
  • Family participation expectations
  • Conflict of interest policies

Volunteer Management

Engagement Strategies:

  • Rotate responsibilities fairly
  • Recognise volunteer contributions
  • Provide clear instructions and support
  • Track volunteer hours for appreciation

Accountability Measures:

  • Clear cash handling procedures
  • Regular reconciliation of sales and deposits
  • Multiple signatures for large transactions
  • Annual review of fundraising results

Technology and Tools

Using TeamBook for Fundraising

TeamBook's features support comprehensive fundraising management:

Budget Categories:

  • Set up distinct categories for each fund type
  • Track restricted vs operations funds separately
  • Monitor progress towards fundraising goals

Transaction Tracking:

  • Record fundraising revenues with detailed notes
  • Track associated costs and expenses
  • Generate reports for transparency

Reporting:

  • Create fundraising summaries for families
  • Track individual family contributions
  • Generate compliance reports for regulatory requirements

Additional Tools

Consider supplementary tools for specific needs:

  • Point-of-sale systems for event sales
  • Online ticketing platforms
  • Inventory management for prizes
  • Volunteer scheduling applications

Common Challenges and Solutions

Cash Flow Timing

Challenge: Fundraising proceeds often come in large, irregular amounts.

Solutions:

  • Plan major fundraising around known large expenses
  • Maintain adequate operating reserves
  • Consider advance funding for large purchases with fundraising repayment

Family Participation Equity

Challenge: Some families contribute significantly more than others.

Solutions:

  • Set minimum participation expectations
  • Offer alternative contribution methods (time vs money)
  • Create tiered recognition systems
  • Consider need-based adjustments

Regulatory Compliance

Challenge: Keeping up with changing gaming and fundraising regulations.

Solutions:

  • Annual review of regulatory requirements
  • Consultation with provincial gaming authorities
  • Professional advice for large-scale activities
  • Detailed record-keeping systems

Financial Planning Integration

Budget Impact

Integrate fundraising into your overall budget planning:

  • Conservative revenue estimates
  • Plan for fundraising costs and time investment
  • Balance fundraising with registration fee requirements

Risk Management

Protect your team from fundraising-related risks:

  • Appropriate insurance coverage
  • Clear volunteer guidelines
  • Secure cash handling procedures
  • Regular financial reviews and audits

Conclusion

Successful fundraising requires careful planning, meticulous tracking, and clear communication. By separating restricted and operations funds, maintaining detailed records, and engaging families effectively, your team can build sustainable revenue streams that reduce financial pressure while strengthening team community.

Remember that fundraising should enhance your team experience, not become a burden. Start with simple activities, build systems gradually, and always prioritise transparency and compliance.

Need Help?

For assistance with setting up fundraising tracking in TeamBook or questions about best practices, contact our support team at [email protected].