Review of the Registered Clubs Industry in NSW - Clubs NSW

8 Establishing a Club Viability Panel
8 Establishing a Club Viability Panel
IPART considers the recommendations for improving clubs’ financial reporting and
performance benchmarking (discussed in Chapter 7) require the support of a body to
help implement them and drive the agenda for change. In particular, IPART
considers that a Club Viability Panel (the Panel) should be established to perform this
role, and provide other assistance to the registered clubs industry. The sections
below discuss:
the Panel’s purpose and functions
that the Panel’s role should be advisory rather than supervisory
the Panel’s membership and secretariat
the Panel’s main tasks and activities
how the Panel’s purpose and activities differ from those of other bodies
established to support the clubs industry
how the Panel and its activities should be funded
that the Panel’s effectiveness should be reviewed after three years.
8.1 The Club Viability Panel’s purpose and functions
IPART considers the main purpose of the Panel would be to help identify clubs that
are at risk of being in financial distress, and to offer those clubs further assessment,
advice and support to help them improve their financial viability. As Chapter 6
discussed, the earlier the signs that a club may be in financial distress are identified,
the sooner the club can put in place strategies to promote its long-term viability
(either in its own right or as a viable prospect for amalgamation). In turn, this helps
to retain the club’s assets as community assets.
IPART considers that the Panel’s primary functions would be:
facilitating the process of transitioning clubs to a standardised reporting format
for their financial management accounts (as previously discussed in section 7.1)
producing industry benchmarks and communicating them to the clubs industry
on an annual basis (as previously discussed in section 7.3)
identifying those clubs that are at risk of being in financial distress, advising these
clubs of its findings, and offering to further investigate their financial position and
advise them of their options for improving their financial position (as previously
discussed in section 7.4)
126 IPART Review of the Registered Clubs Industry in NSW