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Finance for Clubs & Societies

Finance for Clubs & Societies. Your Accounts. We split your money into two accounts Sponsorship account – core running costs Fundraising account – non-core costs Your responsibility to make sure there is the funds in the account

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Finance for Clubs & Societies

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  1. Finance forClubs & Societies

  2. Your Accounts We split your money into two accounts Sponsorship account – core running costs Fundraising account – non-core costs Your responsibility to make sure there is the funds in the account For up to date balance – check with Student Activities Co-ordinator
  3. Sponsorship Account Equipment Entry costs Transport Officials First Aid Admin Publicity Affiliation fees Coaching These are some of the core things to keep you going
  4. Sponsorship Account We’ll meet with you before the end of May to discuss what you want The Students’ Union will put in 50% of the money This year, we put in over £41,000 into clubs & societies The remaining 50% is paid through a membership fee – we’ll talk you through this at the meeting There is extra money available from the Students’ Union
  5. Fundraising Account Used to pay for your non-core running costs Social kit, equipment, anything else We won’t pay for socials or alcohol Money paid to your club/society goes in here Aim is not to spend it all!
  6. Collecting Money All money raised must go into Union held account Membership External sponsorship Profit from fundraising Funds to pay for clothing / socials / trips To protect you, we recommend you use the Union’s website to collect money
  7. Spending Money All expenditure is authorised by Co-ordinators and must: Fulfil the aims & objectives of your group Be beneficial to all members Be a reasonable cost Be submitted using the right paperwork Have enough money in your account! Three ways to spend money from your account: Claim Form (eg petrol costs, things bought from shop) Order Form (eg kit, things ordered through company) Union’s credit card
  8. Other Pots of Money Activity Development Fund Develop existing or set up new project or courses Purchasing equipment, staging events, etc Up to 50% supported by Union sponsorship Activity Representation Fund Individuals and teams that represent area Not for activities that take place at usual level Volunteer Fund Community projects
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