Page 31 - OSEP Management Module 4_Neat

AppENDIx

Glossary

Balance — when a budget’s income equals its expenditure.
Budget — written or electronic statement of planned expenditure (money spent)
and income (money received).
Expenditure — money spent.
Income — money received.
Invoice — written or electronic notice of payment required.
Loss — when a budget’s income is less than its expenditure.
Receipt — written or electronic record of payment.
Strategic plan — a document that outlines what a club/federation wants to
achieve (goals), how it will achieve its goals, who will do the work and when it will
be done.
Surplus — when a budget’s income is more than its expenditure.
Treasurer — person whose role it is to manage the finances of the club/
federation.

OSEP MANAGEMENT IN SPORTING ORGANISATIONS TRAINING PROGRAM — LEARNER’S GUIDE OSEP MANAGEMENT IN SPORTING ORGANISATIONS TRAINING PROGRAM — LEARNER’S GUIDE