I was at middle school game recently that didn't have an AP arrow on the scoreboard or the scorer's table. Instead, they used a small orange traffic cone and tipped it over one way or the other to indicate possession. That was unique.

As far as the clock goes, the stopwatch is probably the cheapest idea. You might want to check and see if there is a local Moose Lodge, Elks, Rotary Club or other civic organization that might purchase one for the league. I believe these groups are required to spend x number of dollars each year for community type things.

This one below is under $600. Something worth pursuing.
http://www.hitrunscore.com/sk2222-vp...coreboard.html