refreshe rs training 2016 transport fixtures 1 organise your finances

REFRESHERS

TRAINING 2016

Transport & Fixtures 1

Organise Your Finances

REFRESHERS

TRAINING 2016

Transport & FixturesTransport & Fixtures

Session Goals• Understand the principles of

budgeting and group finance• Understand the Student Activities

finance processes• Develop essential practical knowledge• Inspire the confidence to budget and

deliver a financially sound year in office

REFRESHERS

TRAINING 2016

Transport & Fixtures

Key ContactsBrianna Middleton-MacphersonCP Societies & [email protected]

Alex ReillyCP Sports & [email protected]

Ian StewartStudent Activities [email protected]

Alex VinceDevelopment [email protected]

Nelson MendesFinance [email protected]

Matt ScalesDeputy Finance [email protected]

mailto:[email protected]









REFRESHERS

TRAINING 2016


Accounts

Tran

spor

t Ac

coun

t

Soci

al A

ccou

nt

Spec

ial

Acco

unt

Mai

n Ac

coun

tCore activitiesCapital investmentNew projects and initiatives

Social EventsGroup clothes and extra kit

Transport to and from fixtures and training

Can be used for setting up reserves, productions and toursContact Student Activities if you require one of these

REFRESHERS

TRAINING 2016


Getting Money

Membership Fees

Your members pay membership fees that go into your account

Societies•Membership fees from £3-10

•Fees are split between Main and Social accounts

Clubs•Tier fees differ from club to club

•Usually covers all costs of the club (incl. kit)

Sponsorship

Local or national businesses

• Monetary donations• On-going

offers/discounts

Two way contract

• Obligations• Terms of

sponsorship• Do not sign until

checked by Student Activities

Student Activities

Annual Budget Setting

• Plans for next year

• Requirements for spending

• Bidding process

REFRESHERS

TRAINING 2016


Financial Processes – Money In

Membership Fees

Money goes directly into

your account. Though it

may take a few weeks to appear as it is

processed through our

Finance Office.

Sponsorship

Reliant upon the contract• Cheques• Invoice for

funds• Written

agreement for goods and services

Student Activities

Grant credited to

your account at the start of

the year

REFRESHERS

TRAINING 2016


Financial Processes – Money Out

Spend and reclaim - £100 limit

1. Spend your own money on the item or service

2. Keep the receipt3. Submit a claims form with the

receipts attached to the Treasurer. This must then be emailed by the Treasurer, with a picture of the receipt attached to [email protected].

4. Student Activities check the claim and pass it on to the Finance Department (or reject the claim)

5. Finance Department process claim and send payment via BACS transfer (7-10 days)

Purchase Order Forms1. Decide what you want to buy/hire2. Fill out a Purchase Order Form

and send it to the Student Activities Office

3. We check the purchase order against your accounts to see if you have sufficient funds

4. Contact the supplier and either ask for an invoice or pay by credit card in the Office

5. When asking for an invoice ask for it to be supplied to “SURHUL”

6. We hand to the Finance Department for processing

7. The invoice is paid directly from you groups’ account


REFRESHERS

TRAINING 2016


Forms

• Claiming money from your accounts• Yourself or othersClaims Forms

• Depositing money into your account• Can also be used for other accounts• Specify whether for RAG

Paying-in Forms

• Used for ‘special’ purchases• Usually online or for invoice• Must be done in the Student Activities Office

Purchase Order Form

• Moving from one group’s accounts to another• Typically used for transactions such as

Socs/Colours Ball Payment, Equipment Rental, etc.Internal Transfer

Request

REFRESHERS

TRAINING 2016


REFRESHERS

TRAINING 2016


Referee receipts

Referees are usually paid cash in hand on the day of the match. Get referee to fill out referee receipt like this after match and claim it back just like with any other receipt.

REFRESHERS

TRAINING 2016


Good Practice• When assessing your club / society

finances you should take in to account:– Timing differences– Yet to be unclaimed amounts– Pending internal transfers

• It’s good practice to keep your own records of spending and reconcile these to your actual accounts

REFRESHERS

TRAINING 2016


Account statements• Request them from us regularly – at

least once a month!• Only Ian, Alex.V, Brianna or Alex.R

can email them or print them• Make sure the statements match

your records – sometimes we make mistakes!

REFRESHERS

TRAINING 2016


Main Account v Social Account• The two accounts work slightly

different:–Main Account rests each year and holds

your allocated– Due to this the “Account Balance” at the

top isn’t always accurate, but the “History Balance” at the bottom will tell you what has happened this year

– Social Accounts roll over so you can always read the “Account Balance” at the top

REFRESHERS

TRAINING 2016


REFRESHERS

TRAINING 2016

Transport & Fixtures

Working with Student ActivitiesWhat we can do for you• Accept and process forms• Deposit money• Provide copies of your accounts• Explain your accounts to you• Provide access to the Finance

Office• Provide financial advice and

guidance

What you need to do for us• Keep accurate and up-to-date

record and budgets• Fully justify claims (evidence

and explanation)• Know who is claiming what and

who is spending money on what• Ensure claims are processed in

a timely fashion

Claiming Money BackWhen you are expecting money back you will get a cheque that can be picked up from Reception when is has been processed. You will receive an email confirming when it is ready.

REFRESHERS

TRAINING 2016


Annual Budget• Physical document submitted at the end of each

academic year, serving as:– A review of the past year’s accounts– Learning exercise for the new committee

• It should include information about:– Membership numbers and fees paid– Major transactions– Major capital investments– A full inventory of your equipment

This should be completed and submitted along with the Annual Grant Application

REFRESHERS

TRAINING 2016


Annual Grant• Sum of money awarded to your club / society

by the Student Activities Office• Based on the strength of application and the

reasonableness of your planned spending• You must show:

– What you will be spending the money on– How it will benefit your members– What other fundraising efforts or financial

contributions you will be engaging in

Money will not be awarded without purpose or to clear debts. Development projects and new ideas are always welcome.

refreshe rs training 2016 transport fixtures 1 organise your finances

Documents