Clubs & SocietiesFinancial Administration Guide

• Your Role

• Managing your accounts

• How to increase your funds

• How do you fit into the club development process?

• Equipment ordering & Inventories

• Accountability

• How to track your money

Ask the following questions;

Why do this role?What is this role?Who can support me?

Treasurer Equipment Officer

https://www.hallamstudentsunion.com/get_involved/sports/clubcommitteeresources/

Paying money in

• Your members can pay their membership fees via the website

• If you receive money via cash or cheque please pay it in via the finance office in the Students Union. You must provide the name of your club/society and a description of what the income is for.

• If you are obtaining money from an organisation please contact the administrators with full details who will send an Invoice Request Form to the finance office.

• We will only record the income on your accounts when the money is received.

Paying money in part 2:

• If you have a significant number of members paying for the same thing (such as buying hoodies or paying for an event) then you must inform the sports/societies administrators who will provide a Collection Sheet for the finance office (on website shortly)

• ALL purchases must be authorised by the clubs/societies admin staff.

• The money raised by your membership fees and fundraising belongs to your club/society. However, it is all held in one bank account that is also used for the Student's Union, so if you overspend it becomes the Union's money! For this reason:

Spending your money:

• You must send an email to the sports/societies administrators with full details of your request and they will email back confirming if the purchase has been authorised and the order has been placed.

• For transport orders and large purchases the admin staff will obtain quotes to find the cheapest supplier.

• For purchases under £50 then we will not usually raise a PO and you should pay for the expense and claim the money back.

Spending your money part 2:

• Claim Forms

If you do not go through the procedure of creating a Purchase Order and have paid for something yourself you can fill in a claim form.Payments up to £50 can be paid in cash.Payments over £50 are only paid by bank transfer, every Friday. Forms must be authorised and presented to the finance office by 4pm on Tuesday.

However, if you have not had the expenditure approved beforehand you run the risk of your claim not being paid.

We intend to set up a system for referee costs where a number of referee bookings will be pre-approved and you will be able to collect cash from the finance office without additional approval.

The Finance Office will email you an excel spreadsheet every week that will show all transactions and a summary of your financial position:

AMERICAN FOOTBALL AMERICAN FOOTBALL - COMMISSION AMERICAN FOOTBALL - EXPENDITURE

INCOME 1657.24

EXPENDITURE -1090.00 04/11/13 AMERICAN FOOTBALL PAID IN BY AIDEN FLANNAGAN 409.00 16/10/13 BRITISH AMERICAN FOOTBALL REFEREES ASSOCIATION 940.00

13/11/13 PAID IN BY M TORCATIS FOR BUS FARES & SUBS 324.04 12/11/13 REFUND FOR OVERCHARGE FROM BAFRA 80.00

FUNDS REMAINING 567.24 23/01/14 AMERICAN FOOTBALL SUB, LEAGUE REGISTRATION & REFEREE 480.00 18/02/14 PO ACCRUALS 240.00

06/02/14 CREDIT NOTE FROM AFL 55.80 01/03/14 PO ACCRUALS 240.00

09/04/14 SUBS PAID IN BY JOSH MARSLAND 500.00 15/03/14 COACH HIRE 230.00

Keeping Records

Income and Expenditure codes have two columns each - negative entries are for costs reversed, refunds given and other adjustments.

Keeping Records - 2

• Accruals

You may find an entry "PO Accrual"This is a Purchase Order Accrual:

The cost of the event or purchase is taken from your available funds WHEN THE EVENT OCCURS - NOT when it is actually paid for.

Example:Event in March costing £300 in coach hire - invoice from coach company not received until April

In MarchTaking the value of the Purchase Order for the coach hire, accounts department will create a value in your March accounts for £300

In AprilThe accrual is reversed at the start of April. The invoice for £300 is received in April. The 2 values cancel each other out so the value in April is zero

(example)coach hire in March costing £300- invoice from coach company not received until April

AMERICAN FOOTBALL - EXPENDITURE

#REF! #REF!31/03/14 PO ACCRUAL 300.0001/04/14 PO ACCRUAL 0.00 300.0014/04/14 NEILSENS COACHES 300.00 0.00

The following sports clubs will have £10 per member deducted by the Sports Union for the benefit of shared events:

BoxingCanoeClimbingCyclingDodgeballEquestrianFMCSailing & WindsurfSnowsportsSub Aqua            

Find quotes

Email them into the union & Check you have enough

funds

We will raise PO and company will release the goods

Payment will be dealt with by our

finance department

Add equipment to inventory list

Research Quotes

Check your club have enough

money

Bring receipts into the Hubs

and fill in a claim form

Will receive the Money back

within 2 weeks.

Add Equipment onto inventory

list

Ordering New Equipment & Kit

Do you know exactly what equipment and kit your club currently has?

Storage Safe? Quality Enough?

- Budget Request forms

- Selling Crystal tickets

- Sponsorship

- Fund raising

- Funding Grants

- Subs

- Any others?

How can I get more money into my club?

• Budget Request forms

Later in the year you will have a chance to submit a request for additional funding.

• Crystal Tickets

You are able to collect tickets for the Crystal nightclub from the finance office and sell these to your members. You club will receive £1.50 from each ticket sale. The money is returned to the finance office and we will allocate accordingly.

Any questions about your club/society finances please contact hubsfinance@shu.ac.uk

Matthew Leese Management AccountantJames Hancock Finance TechnicianSameena Kauser Finance Assistant

Any Questions??