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Section 5: Financial Sustainability

Financial Sustainability

Regional organisations play an important role in managing resources responsibly and planning for the long-term sustainability of waka ama in their region. Good financial management supports clubs, paddlers, events, volunteers and regional priorities.

Our Kete Karapu contains information on day-to-day financial management, including treasurer responsibilities, financial systems, budgets, audits, funding and fundraising.

At a regional level, the focus is on financial planning, oversight, sustainability and governance.

Regions should develop an annual budget that aligns with their regional plan and priorities.
The budget should consider:
  • Expected income and expenditure
  • Regional events and programmes
  • Funding, sponsorship and affiliation income
  • Major purchases and future costs
  • Contingency for unexpected costs
Major events and projects should also have their own budgets. Budgets should be reviewed regularly against actual results.

At a regional level, the focus is on financial planning, oversight, sustainability and governance. Regions should have clear processes for:
  • Spending and financial delegations
  • Payment approvals
  • Managing conflicts of interest
  • Financial record keeping
  • Managing financial risks

Regions should regularly monitor their financial position and plan for future needs. This includes:

Financial resilience – maintaining appropriate reserves, managing risks and planning for unexpected costs or changes in income.
Financial reporting – providing regular, clear reports on budget performance, cash flow, income, expenditure and upcoming commitments.
Accountability – ensuring financial decisions are transparent, approved appropriately and communicated to the board, clubs, funders and key stakeholders.

Good financial oversight helps regions make informed decisions, remain financially sustainable and use regional resources responsibly

Regions should develop a funding and sponsorship plan and aim to have a range of income sources.
These may include:
  • Grants and community funding
  • Sponsorship
  • Club affiliation fees
  • Event income
  • Fundraising
  • Merchandise or other appropriate income
Successful funding and sponsorship is based on good planning, strong relationships, clear communication and demonstrating the impact of regional activities.

A financially sustainable region:
  • Plans ahead
  • Has a clear budget
  • Monitors its financial position
  • Has appropriate financial controls
  • Diversifies its income
  • Maintains suitable reserves
  • Manages financial risks
  • Communicates clearly with clubs and stakeholders
Financial sustainability is about kaitiakitanga - looking after the resources entrusted to the region so they can continue to support our people, clubs, paddlers and future generations.

Waka Ama Aotearoa NZ also provides regions with access to Xero to assist with financial management.

WAANZ are also happy to provide any guidance and share knowledge in this space. Email [email protected] for more information.

Reflective Questions

  • Does our budget align with our regional priorities?
  • Do we understand our current and future financial position?
  • Are financial decisions and approvals clear and consistent?
  • Are we building long-term financial sustainability?
  • Are our income sources diverse enough?
  • Are we prepared for unexpected financial challenges?

Key Links and Resources

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