While your golf club is likely a not-for-profit organisation, it is as equally a not-for-loss organisation.  The only sustainable way to accumulate and maintain sufficient financial reserves is for the club to avoid operating at a deficit.

To avoid this, the club's board/committee should ensure adequate controls and reporting systems are in place to understand and monitor the club's operations, risks and finances.

To compliment operations, the board/committee should also have a good understanding and management of the club's value proposition (how much members are prepared to pay for services), membership pricing structures and other major sources of revenue including green fees and hospitality (food and beverage).  Also, it should look at ways to diversify revenue to reduce its dominant dependency on membership fees.

The following is a useful link* to CPA Australia to assist Boards, Committee members and Managers with running the club's finances.

CPA Australia Professional-resources/ not-for-profit * Provided with the permission of CPA Australia. Documents are not to be reproduced, re-published, communicated, sold or otherwise dealt with for a commercial purpose.

The resources available for download below will provide you with information regarding financial management for not-for-profit organisations and finance templates, including a comprehensive strategic financial model. 

Fuel Tax Credits Clubs of all sizes can claim Fuel Tax Credits on their Australian Business Statements.  Many clubs have received rebates of tens of thousands of dollars.  FInd out more here: Interview-with-odette-yen-of-HPL Group-regarding-fuel-tax-credits in golf clubs/  Clubs can either make their own arrangements for a fuel tax credit or arrange for speak with HPL group, a company with experience in arranging fuel tax credits for golf clubs. ATO information is available here: https://www.ato.gov.au/business/fuel-schemes/fuel-tax-credits---business/

Treatment of Entrance Fees - Change in Accounting Standards effective first full year from 2019. The way clubs treat revene from entrance fees may need to change. Please read article on p.3 in the link and discuss with your club's auditors.  AASB-15 Acc standards re enrance fess -effective 2019.pdf Note: the original dates have been deferred to first full period after 1 Jan 2019.

A useful site for financial management for small clubs may be found at http://www.leoisaac.com/fin/index.htm

Related documents:

• Club Template – Strategic Financial Model (320KB)

• Club Template – Function Costing (35KB)

• Club Template - Course Scheduling & Costing (56KB)

• Club Template - 12-month Cashflow forecast tool

• Club Benchmarking: What makes a club tick, financially? (2122KB)

• Damn Good Advice for Treasurers (11727KB)

It is vital that your club protects its assets with adequate insurance.

Insurance is a common risk management tool that may minimise your club’s liability. However, insurance is a reactive rather than a pro-active risk management tool and therefore other risk management strategies should be adopted in order to reduce the risk from occurring.

Examples of legal claims that clubs can be exposed to:

• negligence claims – e.g. personal injury or decisions made

• criminal liability – including claims for sexual offences and discrimination

• occupier’s liability

• work health and safety

• employment liability – e.g. unfair dismissals

Insurance is a common risk management tool that may minimise your club's liability. However, insurance is a reactive rather than a pro-active risk management tool and therefore other risk management strategies should be adopted in order to reduce the risk from occurring.

Types of Insurance

Your club’s risk assessment process will identify the type of risks that the club could be exposed to. This will then help determine whether insurance is available and appropriate.

Some policies that may be applicable to your club include:

• Public liability insurance

• Professional indemnity insurance

• Directors and officers liability insurance

• Associations liability insurance

• Personal accident insurance

• Work health and safety cover

• Workers compensation

• Property contents insurance

• Fidelity insurance

• Building insurance

• Travel insurance

• Cyber insurance

It is recommended that an Insurance Checklist should be used on an annual basis to manage your club’s insurance.  See attachment below.

Players Personal Liability Insurance

Golf Australia maintains a Player’s Personal Liability Insurance Policy for all members of affiliated golf clubs. Broadly this policy covers the legal liability of your members to pay compensation for personal injury or property damage which occurs while playing or practising golf or attending a golf event or venue as a player, guest or spectator. 

Effective March 1, 2025 changes will be made to the policy to ensure Golf Australia can maintain protection for members in the event of serious personal injury. 

What is changing?    

Exclusions: Specific exclusions have been added for any claim, loss, damage, liability or costs and expenses incurred directly or indirectly in connection with third party property damage to:    

• golf carts; and   

• personal electronic devices include phone, iPad, watch, rangefinder or anything similar.   

Excess: There are now three categories of insurance claim:   

1. Personal injury claims – NO excess will be payable   

2. Property damage where a golfer is found to have followed all expected duty of care, local rules and the Rules of Golf – NO excess payable   

3. Property damage where golfer is found to have acted in a negligent manner and caused damage to a third party property - $1,000 excess is payable    

Please refer to the FAQ documents below for more detailed information. Updated Policy Wording and Policy Schedule will be available prior to the changes becoming effective on March 1, 2025. Related documents: 

Related documents:

• Players Personal Liability Claim Form

• Players Personal Liability Policy Wording (Effective to 28.02.2025)

• Players Personal Liability Schedule Document

• Players Personal Liability Insurance FAQ – Clubs & Facilities

• Players Personal Liability Insurance FAQ – Golfers

Green Fee Players Liability Insurance

Golf Australia has worked with Marsh to develop an insurance product for players that are not members of your club that mirrors the coverage provided to members.

The product can be accessed from the Marsh website, and a webinar launching the product with detailed information is here.

Business Insurance for Golf Clubs

Australian Golf Insurance (AGI) is an exclusive insurance scheme that provides tailored, quality cover for golf clubs.

The policies include cover for golf club's property, liability, professional indemnity, management liability and voluntary workers risk.

The policy is accessible by golf clubs through any licensed insurance intermediary (broker) and therefore clubs are not required to change their broker relationship.

For brokers, if you have further inquiries or to obtain a quote, please visit https://victorinsurance.com.au/

Related documents

• Insurance Checklist (147KB)

Fundraising

Fundraising is a critical source of income for many golf clubs around Australia. The typical activities of sausage sizzles, quiz nights and open days are great fun and worthwhile, but may be leaving some some money on the table for your larger projects.

Not being charitable organisations, clubs are usually unable to offer tax deductable donations. Setting up a project through the Australian Sports Foundation can change that, and encourage your donors to contriubute more generously to your projects.

Visit the Australian Sports Foundation website for more information.

Wills & Bequests

Encouraging people to leave your golf club money in their will can be a touchy, emotional and difficult fundraising subject. However, this can be a useful source of fundraising income. When people make their wills, most feel moved (or at least obliged) to leave bequests to people who are related to them. They rarely think of their golf club, but there are great reasons to encourage them to do so. Many members have had many years of enjoyment from their club and with the right oppourtunity, would donate a percentage of their estate to ensure others can have the same enjoyment for years to come. For further information on how to set up a bequest program, visit the funding centre.