Finance and budgeting for community sport and physical activity

This chapter demonstrates the importance of financial management within a community sport management context. Provision is made to equip you, as managers, with the necessary skills to communicate, in basic terms, the financial sustainability at a place of work. The cyclical process of planning, decision-making and control, coupled with the analytical techniques that can be applied to management accounting information, enhances the toolbox of skills that any community manager possesses. The importance of this process should not be underestimated in both profit and not-for-profit organisations, regardless of size or stature. The main objective of all community organisations should be to operate within their own resources so that they can be sustainable and so that people can appreciate their value. The tools identified in this chapter, including budgeting, should help this process.