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Finance for Treasurers. Jane Webb -Finance Manager Linda Graham – Finance Assistant Contacts at SU – Ali, Helen, Paul, Elina & Jules. Contents of Session. Treasurer’s Role Finance and where the money comes from Society Grants Sponsorship Fundraising & Collections Budgeting Spending
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Finance for Treasurers Jane Webb -Finance Manager Linda Graham – Finance Assistant Contacts at SU – Ali, Helen, Paul, Elina & Jules
Contents of Session • Treasurer’s Role • Finance and where the money comes from • Society Grants • Sponsorship • Fundraising & Collections • Budgeting • Spending • Sage Training & notes • Overview – slide 28
The Role of Treasurer THE TREASURER’S ROLE INCLUDES: • Overall responsibility for the administration of club/society finances. • To ensure club/society funds are managed appropriately and accurate records kept – a simple incoming & outgoing spreadsheet template is available on the website to download • To submit applications for Union grants by a given deadline alongside appropriate supporting evidence. Application forms are available on the website. • To submit invoices/receipts for payment or reimbursement alongside appropriate Union forms. • To communicate regularly with the Clubs, Societies & Volunteering Coordinator regarding financial planning. Please get approval BEFORE spending any money
Finances WHERE DOES THE MONEY COME FROM? • The Students’ Union is a non-profit making charity • The Union receives a grant from the University • All other funds are raised through our bars, shops & events • All money is then re-invested in improving the student experience including our Societies and Sports Clubs
Society Grants GENERATING INCOME: Societies Only Ordinary Grants • A total of £2k will be distributed into society accounts in November based on the amount of members each society has (%, split between all societies). More members = more money. They cannot apply for this. It goes in to their account automatically, based on the amount of memberships they have in October 2014. Special Grants: Societies Only • Decisions are made at monthly committee meetings and available throughout the year. Every month has a different pot and sometimes these are set to occur on an Open Day. A total of £40k (although this has changed, Roger has sliced the budget and I don’t know what from – he hasn’t let me know. Do you know perhaps? • They can be used to cover the costs of guest speakers, conferences, events you wish to attend, events you wish to hold, publicity or equipment. • In order to apply an application form must accompany all requests and submitted in a timely fashion those in excess of £100 you must also include a planning documentfor your activity. Please discuss this with the Societies & Volunteering Coordinator (Elina) as she will distribute them.
Sponsorships Sponsorship: Societies/Sports • Think about what you want out of a sponsorship agreement • Think about what you are able to offer to an organisation in return • Don’t restrict yourself to purely financial benefits. • The Union must approve any proposal before it is distributed to organisations. • The Union must approve any contract before it is signed by the Committee. • Apply for a sponsorship from the SU by contacting Matt.Goode@northampton.ac.uk. Most of our Sports teams have set this up and are receiving £1000s of pounds to use on kit, equipment, events, trips etc.
Fundraising Fundraising: Societies/ Sports • Every society/club can organise a fundraiser either for themselves or for a charity. The SU will provide campaign cans and buckets and ensure these are legally compliant. • Fundraising events are encouraged and the most common one is to organise a bake sale in the library. It could also be a “Girls Night In at the Pavilion” or a competition of some sort. There are some things you cannot organise, but for details you can speak to the Sport or Societies Development Coordinator. If you are not sure please ASK. • Think about what activity specifically you are fundraising for. • Remember the Union is a charity and you must follow charitable fundraising regulations • Consider an online method such as Sponsorcraft ( Have a look at Google) Collecting • You need to contact the Societies Development Coordinator in order to ensure their collection is legally compliant. For example, no students are allowed to do fundraising without a permit. We have a permit for both campus and can apply for a street collection permit for the town centre but need at least 5 weeks to do that. Every society needs to ensure they have the charity’s consent prior to the collection.
Budgeting & Spending WHEN BUDGETING: • Your Society/Club will pay VAT on goods/services and not be able to reclaim it back. • Your Society/Club will NOT pay VAT on any income you generate. • When raising a PO always input the gross amount to be paid. SPENDING FROM YOUR SOCIETY/CLUB ACCOUNT: • All spending must meet the aims and objectives set out in your Society/Club Constitution • Spending must benefit all members YOU NEED: • Expenditure Form (found online, under Society/Club Documents) and completed electronically. (Expenditure form attached) • Two (2) signatures from committee members other than that of the payee • Receipts: Make sure the receipts are from a recognized vendor, with a VAT number. Hand written receipts will not be accepted. If you are not sure what’s acceptable please ask BEFORE you raise the purchase order.
Expenditure Request Form EXPENDITURE REQUEST FORM FOR SOCIETY EXPENDITURE • Fill out expenditure request form electronically • Send form to two of your committee for authorisation • Bring this form along with official VAT receipts/quotes to the Activities office (no scanned or handwritten copies) • Please get a member of the Activities Team to authorise your claim BEFORE you raise your purchase order. • Follow the procedures for raising a purchase order found in the Activities Office WHO IS TO BE PAID? – EXACT DETAILS FOR CHEQUE • Supplier: (Order to be placed) • Student: (Reimbursement) • DATE: • AMOUNT REQUESTED: £ • SOCIETY: • STUDENT NAME: STUDENT NUMBER: • DETAILS OF EXPENDITURE: (include product codes and descriptions: attach additional page(s) if needed) TREASURER CHECKLIST Committee Email 1: • Sufficient funds available CommitteeEmail 2: • Expenditure benefits club • Receipts provided • Goods Received & posted on SAGE Treasurer:___________________Date:______ SU Staff App:___________________Date:______ 09/09/2014 v.1
Sage P1- Sage Log-in & PO’s Creating a Purchase Order through SAGE • Please plan payments as far ahead as possible, on the rare occasion where an urgent payment is necessary please refer to Helen or Ali (Activities Admin). • Before creating a purchase order from Clubs and Society funds you will need a completed expenditure form, receipts/invoices. You will need two members of your committee to authorise the expenditure and a member of the SU staff Membership Services Team to sign it off. • Log on to SAGE: Using your allocated username and 3 digit password (which should be your Nominal Code)
Sage P3- checking your Funds • On the left hand menu you should be able to view Bespoke and Purchase Order Processing. Click onto Bespoke, this is where it will enable you to check club funding and create purchase orders. Checking your Funds • Double click on Club Funding Report • Enter your 3 digit code (N/C Nominal Code) or look in the drop down menu to find your society/club. This will give you a balance of your funds available, income and expenditure.
Sage P5 – Raising a PO Raising a Purchase Order • To raise a Purchase Order, go back to menu and double click on Club Order, click on New
Sage P7 – Raising a PO • 999A/C ref: Enter code: • C&S100: for one off expenditure, ie: the society fund is paying a member for outlay to the society • UN005 for printing through the university • UNI100: Internal transfer, ie: internal venue such as ESH or Dance Studio, SU venues • For buying goods from an outside supplier, regular suppliers the codes should already be set up; new ones will need setting up PLEASE ASK • TAB to Club, your Society should already be showing if not either enter its name or 3 digit N/C this should turn the screen green and show you club or society balance. Click OK. • Supply to: PARK • Click in area No items to display, this should create a line for you to enter expenditure details. This is very limited on how much information you can enter. For example: Chq to A Savage for Admin • Tab across to Nominal Code ie: sundry items, click on the drop down box and choose relevant code • Tab and enter amount. The gross amount being charged is the value to be entered on the PO, ie: the amount due as V.A.T cannot be reclaimed. Any V.A.T automatically added to the PO will be ignored
Training for the Role of Treasurer Sage P8 – Raising a PO • You can enter more lines if needed by repeating the above procedure. • For any payments to individuals, the invoice must include as a minimum the following: • Full name and address of the supplier and date of invoice • Date the services were provided and details of what was provided. Include hours etc • The word INVOICE (pro forma invoice not acceptable) • Statement quoting a UTR (Unique Tax Reference) to prove they are liable for their own tax. • Click OK and it should bring up create a PO, click yes and it will give you a PO number, WRITE THE NUMBER DOWN in the expenditure form before clicking OK. • Printing a Purchase Order to SAGE • From this screen choose pint orders (on next slide)
Sage P10 – Printing a PO • This will bring up the screen below, select print single order and enter your purchase order number in the yellow box, select display. This will bring up your PO, click on print. This will not print the order to the printer at this point.
Sage P12 – Printing a PO • Printing your Purchase Order to the Printer • Close the above screen and go to the Print Report icon at the top of the screen, this will bring up a list of PO’s yours should say unprinted, print and collect hardcopy from the printer.
Sage P14 – Receiving a PO GOODS RECEIVED • Go back to the welcome screen • It is essential to mark your PO as goods received ASAP • A) Goods have already been received: ensure that this is done at the time of raising the PO • B) Goods awaiting delivery: -when received: • Carefully check off contents of package to the dispatch note • Ensure that you then log on to SAGE and mark as received (as per above instructions)
Sage P16 – Receiving a PO • Enter A/C code ie: C&S100 your PO should be listed double click on it.
Sage P17 – Receiving a PO • Tab to Reference box: Enter the PO number and N/C (Nominal Code) • Tab to Narrative: enter a full version ie: Alison Savage Admin duties for SU • Click on order line and tab across to Qty received box: enter value 1, save
Sage P19 – Receiving a PO • Staple the purchase order behind the expenditure form followed by the receipts and put in the tray next to the printer. • If you only require a cheque to be raised by the SU it will need 2 staff signatures, this could take a couple of days to arrange. You need to email the claimant advising their expenditure has been approved and their cheque should be ready to collect from SU reception at Park Campus (open 10am-4pm) within 2 working days. • Cheques to be raised for goods: • Put all paperwork in the tray, you will be advised when the goods have arrived, please collet them ASAP not forgetting to check them and enter received on to SAGE. If unsure please ask
Sage P20 – overview Practice makes perfect ………. Regular use of these notes will help you get it right, but please, if you have any doubts at all, then please speak to a member of the SU Team who will be happy to help. It is easier to ask for help and get it right than it is to fix an error later!
