Introduction to the Finances of your Association

AL MacEWEN

(TREASURER)

DAVE ROGERS

(HEAD OF FINANCE)

Why Know about BUSA Finance?

– It impinges on many aspects of decision-making

– affects all committees

– accountability

– value for money

Types of Accounts:

– Annual statutory accounts - Known as Financial Accounts

– Management Accounts

budgets

quarterly & annual management accounts

Sources of Income

Where does the money come from?

– Member Income

– Sponsorship

– Sports Councils

– Specific Sports Governing Body Grants

– Interest on our investments

Income from Members

– Main form of income for BUSA

– Following future funding review in 2001/2 charge is in three Parts

• Option K Charge - set at 625K for 2003/4

• Team entry Levy - £40 per team

• Individual Entry Levy - Sports Specific charge (50p to £120)

– Option K is calculated according to:

• Fixed Charge based on student numbers

• Multipliers for team entry and individuals

• Income– 20% per capita

– 80% user pays system

• 10 to 1 waiting applied to Team Entries

• e.g 2004/05 £640k multiply by 20% = £128k per capita £640k - £128k = £512k 80% user pays element.

How Affiliation Fees are Calculated

•Team Entries 02/03 4,048•Individuals 02/03 15,453•Add the two together with a 10 to 1 waiting •Total Entries 40,480 + 15,453 = 55,933•Divide £512K by 55,933 = 9.1538•User pays element will be £9.15 per individual entry & £91.53 per team.

Expenditure

• Domestic Championships Costs of running team & individual championships

SMG expenses, medals & trophies, etc

• Domestic Representative Home Nation Events incl BUGs,

Other Representative matches

• International Representative Mainly ‘ring-fenced’ grants (UKS & NGBs)

World University Games (WUGs + WUCs)

• Staffing :direct: sport-related (Sport Programme Managers,

clerical)central office support (CEO, Head of Finance, etc)

• IT/Results Web site/Infrastructure

Capital & Recurring (License Fee & Web Hosting)

• Non Staff Office Costs :Paper, photocopiers, postage,

• Committeesdirect costs + staffing

Expenditure

Management Accounts

• Budget Proposal:projected by activity areas income &

expenditure for next yearapproved by F&H and Executive Board

• Quarterly Management Accounts Shows income/expenditure quarter end highlights anomalies Identifies problems Ensures accountability - F&H

Finance & House Committee

• Chairman - Senior Vice Chair • Treasurer• Student Vice Chair• Three Students• A Senior non Student Member• Currently 1 co-opted member

Finance And House Committee

• Chief Executive• Head of Finance• Finance Assistant

Finance & House Committee

• Two Year Budgeting• Additional Income Streams• Vat Liability• Reserve Funds• Health & Safety Audit &

(DDA)• Building Review• Online Entry System & Data

Capture

• Staff Contracts• Staff Secondments • Staff Training Requirements• Job Titles• Pay Awards (AUT

Increases)• Appraisal System

What are our aims for next year?

• Deliver the budget - No 1 aim• Accommodation - 8 Union Street• Continue to focus on our cost base

– Suppliers– Telephone/Postage– Meeting Costs

• Funds for the Sport• Obtain a title Sponsor

Can you help us?

• Travel – book ahead • Ask for help• Get Involved

Finance and House

1. Controls the money

2. Good overview