GTHL Team Bank Account Policy: What Every Club Needs to Know

Imagine signing a letter every year that says your club's teams are following the GTHL's financial rules. Now imagine you're not entirely sure they are.

That's the position most GTHL club presidents are in right now.

The GTHL released its Team Bank Account Policy in June 2024. It applies to every team entered for competition by a Club member. The policy spells out exactly how team finances should be managed: who can sign cheques, how e-transfers get approved, what records need to be kept, and how reconciliation should work.

But the policy itself is a three-page PDF with no supporting guidance. No examples. No implementation tips. Just the requirements.

This guide breaks down every section of the GTHL Team Bank Account Policy in plain language. Whether you're a club president trying to confirm your teams are compliant, a treasurer figuring out what's expected of you, or a board member wondering what your legal obligations are, this is everything you need to know.

Why This Policy Exists

The Team Bank Account Policy didn't appear out of nowhere. It's part of a broader effort by the GTHL to strengthen financial governance across the league.

In April 2025, the GTHL released its Integrity Action Plan following an investigation by Special Integrity Commissioner Hon. David Watt. The investigation looked into allegations of financial misconduct among some member clubs.

Important context the GTHL itself provides: the allegations involved a small number of organisations relative to the size of the league. The GTHL explicitly commends the large majority of Club and Team Officials who devote countless hours to organising and running their programs. This isn't about assuming the worst of anyone. It's about giving good volunteers the structure they need to do the job properly.

The Watt Report found that while only one of six investigated allegations was substantiated by concrete evidence, the investigation revealed "patterns of misconduct, lack of financial transparency, and governance failures that necessitate structural changes to restore integrity and public trust in the league."

The Team Bank Account Policy is one of those structural changes. It takes financial controls that were previously best practices and makes them documented requirements.

The Policy Requirements, Explained

The GTHL Team Bank Account Policy has 19 sections. Rather than listing them one by one, we've grouped them by topic so you can see what applies to each part of your team's financial operations.

Setting Up the Bank Account (Sections 1-6)

Before your team collects a single dollar in fees, the bank account needs to be set up correctly.

A designated team account is mandatory. Club policy must require that each team's finances be managed using a bank account specifically designated by the financial institution as the account for that team (Section 1). The club must provide the team with a letter authorising the opening of the account (Section 2), and the account must be opened before the team collects any player or team fees (Section 3).

You need at least three signing authorities. That must include at least one Team Official and at least two parent representatives who are unrelated to and independent of any Team Official or Club Official (Section 4). Ideally, at least one of the signing authorities should have experience with finances and accounting (Section 5).

Debit cards are permitted. Where offered by the financial institution, each signing authority can obtain a debit card for cash withdrawals and deposits (Section 6).

Spending Controls (Sections 7-12)

This is where the policy gets specific about who can spend money and how.

An approval structure must exist for all spending. That includes electronic fund transfers, commonly known as e-transfers (Section 7).

Every cheque or withdrawal requires two signatures. At least one of those signatures must come from one of the parent representatives (Section 8). This means a team official cannot unilaterally write a cheque, even a small one.

E-transfers over $100 need dual approval. Two of the account's signing authorities must approve any e-transfer exceeding $100 and document that approval (Section 10). Given that most team expenses (ice time, tournament fees, equipment) exceed $100, this requirement covers the vast majority of team spending.

An independent reviewer must verify transactions. Any club that allows its teams to use e-transfers must ensure each team has controls in place where an individual who is not connected to the team's bank account, and is unrelated to and independent from any Team Official or Club Official, reviews each cash withdrawal or e-transfer and provides signed verification that the transaction is in order (Section 11).

All money goes into the team account. Period. All monies received or collected by the team must be deposited into the team account only. Personal accounts cannot be used at any time (Section 12).

Record-Keeping (Sections 13-15)

The policy is clear: if money moved, there needs to be a paper trail.

Receipts and invoices are required for all transactions. Supporting and underlying documentation, such as invoices and receipts, must be maintained for all incoming and outgoing transactions (Section 13).

No receipt? You need detailed notes and extra sign-off. When formal supporting documentation is unavailable based on the nature of the disbursement or source of funding, detailed notes must be made, and more than one of the account's signing authorities must be documented as involved in handling and approving these transactions (Section 14).

Every transaction needs full details. Team records must include the details of all transactions, including information about the use of funds: amount, purpose, date, and to whom payment was made, for all expenditures, regardless of the form or type of payment (Section 15).

Reconciliation and Independent Review (Section 16)

Regular reconciliation is expected. Team financial records must be reviewed and reconciled regularly, ideally monthly, to help identify errors and discrepancies in a timely fashion, allow for prompt corrective action, and ensure accurate reporting (Section 16).

The reconciliation needs an independent review. Someone other than the person conducting the reconciliation must perform an independent review to provide adequate oversight, segregation of duties, and review of the financial records (Section 16).

In plain language: the person balancing the books can't be the same person checking the books. If your treasurer does the monthly reconciliation, someone else (another signing authority, a board member) needs to review it independently.

End-of-Season Requirements (Sections 17-18)

Surplus funds follow club policy and cannot carry over. Any surplus remaining in the team's bank account at the end of the season must be dealt with in accordance with the club's stated policies. Surplus funds cannot be carried over to the following season (Section 17).

The bank account must be closed. A team bank account must be closed at the end of the season. It cannot be carried over from season to season (Section 18).

This means a fresh start every year. New account, new authorisation letter, new setup. It also means clubs need a clear policy for handling surplus funds (refund to parents, roll into the club's general fund, etc.) before the season ends.

Training and Communication (Section 19)

Clubs should educate parents and train finance handlers. The policy recommends that each club develop communications and training tools to educate parents about what to expect regarding team financial management, and provide training for the people handling team finances on the club's specific rules and requirements (Section 19).

Your Legal Exposure Under ONCA

Beyond the GTHL's own policy, there's a provincial law that raises the stakes.

The GTHL's Integrity Action Plan explicitly references the Ontario Not-for-Profit Corporations Act (ONCA), noting:

Here's what the statute actually says:

Section 43 (Standard of Care): Every director and officer must act honestly and in good faith with a view to the best interests of the corporation, and exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. You cannot contract out of this obligation. No provision in a contract, the articles, the by-laws, or a resolution can relieve a director from this duty.

Section 39 (Liability for Improper Payments): Directors who vote for or consent to a payment or distribution contrary to the Act are jointly and severally liable to restore that money to the corporation. This means if improper payments are made and you voted for or consented to them, you're personally on the hook.

What does this mean for a club president or board member? If your teams are handling $30,000 to $60,000 per season with no formal financial controls, no audit trail, and no independent oversight, you are not meeting the standard of care that ONCA requires of you. The GTHL Team Bank Account Policy gives you a framework for meeting that standard.

Rule 5.11: Financial Disclosure to Parents

The Team Bank Account Policy covers how money is managed. Rule 5.11 covers what you need to tell parents.

GTHL Rule 5.11 requires:

• Financial disclosure to parents before registration. Parents should know what they're paying for before they commit.
• Year-end financial statement within four weeks of the last team event. The statement must be signed by at least two of the signing authorities, including at least one parent representative.
• Interim financial updates. Teams must provide interim updates within ten business days of September 30 and January 31 regarding team finances and the approved budget.

GTHL family surveys conducted in 2022, 2023, and 2024 found that parents support policies that cap or control fees, don't know how to voice financial complaints, and feel that complaints would not be adequately acknowledged. Rule 5.11 is the GTHL's response: give parents visibility into team finances proactively, so they don't have to ask.

Compliance Verification: You're Already Attesting

Here's something many club presidents may not fully appreciate: you're already signing off on compliance with this policy every year.

Each year, when an organisation applies for membership in the GTHL, it must submit a letter signed by two of its officers (including the one responsible for financial matters) confirming that the organisation has satisfied itself that its teams are adhering to the GTHL Team Bank Account Policy.

That letter is your attestation. It says your club has reviewed its teams' financial practices and confirmed they meet the policy requirements.

If you're signing that letter without actually verifying compliance across your teams, you're taking on significant risk. Especially now that the GTHL has strengthened its enforcement mechanisms and the Integrity Action Plan is actively being implemented.

GTHL Financial Compliance Checklist

How to Make Compliance Manageable

Looking at that checklist, you might be thinking: this is a lot to track manually across every team in the club.

You're right. It is.

Most clubs are trying to meet these requirements with shared spreadsheets, folders of scanned receipts, and good intentions. That works for the record-keeping parts. But the dual approval, independent review, and real-time reconciliation requirements are nearly impossible to implement consistently in a spreadsheet.

HuddleBooks was built specifically for this problem. Here's how the platform maps to the policy requirements:

This isn't about replacing volunteers with software. It's about giving volunteers tools that match what's being asked of them.

What Comes Next

The GTHL Team Bank Account Policy is the foundation. But the Integrity Action Plan signals that more is coming.

Among the mid-term reforms (July 2025 to March 2026), the GTHL has committed to:

• Requiring clubs to actively oversee, approve, and disclose team budgets before each season
• Implementing a standardised team budget form that must be submitted to the GTHL for review
• Establishing a financial information hotline for complaints

The GTHL Governance Committee is overseeing implementation and issuing quarterly progress reports to members and the public.

Clubs that get ahead of compliance now will be in a much stronger position when these additional requirements roll out. The ones still managing finances in spreadsheets will be scrambling.

The Bottom Line

The GTHL Team Bank Account Policy exists to protect everyone: treasurers who deserve clear expectations, parents who deserve visibility, clubs who deserve clean operations, and the league that represents all of them.

Compliance isn't about distrust. The GTHL itself says the large majority of clubs and officials do excellent work. This is about giving those good people the structure and tools to prove it.

As the largest minor hockey league in the world, the GTHL is leading on financial governance. Other Ontario associations are watching closely. Getting your club compliant now is good governance, it's good risk management, and it's the right thing to do for the families who trust your organisation with their money.

Frequently Asked Questions