REFRESHE
RS
TRAINING
2016
Organise Your Finances
Transport & Fixtures
1
Session Goals
REFRESHE
RS
TRAINING
2016
• 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
Transport&&Fixtures
Transport
Fixtures
Key Contacts
REFRESHE
RS
TRAINING
2016
Brianna MiddletonMacpherson
CP Societies & Media
Brianna.middletonmacpherson
@su.rhul.ac.uk
Ian Stewart
Student Activities Manager
Ian.stewart@su.rhul.ac.uk
Alex Vince
Development Co-ordinator
Alex.vince@su.rhul.ac.uk
Nelson Mendes
Finance Manager
nelson@su.rhul.ac.uk
Matt Scales
Deputy Finance Manager
Matt.scales@su.rhul.ac.uk
Transport & Fixtures
Alex Reilly
CP Sports & Development
Alex.reilly@su.rhul.ac.uk
Transport&&Fixtures
Transport
Fixtures
Transport to
and from
fixtures and
training
Can be
used for
setting up
reserves,
productions
and tours
Contact
Student
Activities if
you require
one of these
Special Account
Social
Events
Group
clothes and
extra kit
Transport Account
REFRESHE
RS
TRAINING
2016
Social Account
Core
activities
Capital
investment
New
projects
and
initiatives
Main Account
Accounts
Getting Money
REFRESHE
RS
TRAINING
2016
Membership
Fees
Sponsorshi
p
Student
Activities
Your members pay
membership fees that go
into your account
Local or national
businesses
Annual Budget
Setting
• Plans for next
year
• Requirements
for spending
• Bidding
process
Societies
•Membership fees from £3-10
•Fees are split between Main
and Social accounts
• Monetary donations
• On-going
offers/discounts
Two way contract
Clubs
•Tier fees differ from club to
club
•Usually covers all costs of
the club (incl. kit)
Transport&&Fixtures
Transport
Fixtures
• Obligations
• Terms of sponsorship
• Do not sign until
checked by Student
Activities
Financial Processes – Money In
Membership
Fees
Sponsorshi
p
Money goes
directly into your
account.
Though it may
take a few
weeks to appear
as it is
processed
through our
Finance Office.
Reliant upon
the contract
Transport&&Fixtures
Transport
Fixtures
• Cheques
• Invoice for funds
• Written
agreement for
goods and
services
REFRESHE
RS
TRAINING
2016
Student
Activities
Grant credited
to your account
at the start of
the year
Financial Processes – Money
Out
Spend and reclaim - £100
limit
1.
2.
3.
4.
5.
Spend your own money on the
item or service
Keep the receipt
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
saclaims@su.rhul.ac.uk.
Student Activities check the claim
and pass it on to the Finance
Department (or reject the claim)
Finance Department process claim
and send payment via BACS
transfer (7-10 days)
Purchase Order Forms
1.
2.
3.
4.
5.
6.
7.
Transport&&Fixtures
Transport
Fixtures
REFRESHE
RS
TRAINING
2016
Decide what you want to buy/hire
Fill out a Purchase Order Form and
send it to the Student Activities Office
We check the purchase order against
your accounts to see if you have
sufficient funds
Contact the supplier and either ask for
an invoice or pay by credit card in the
Office
When asking for an invoice ask for it
to be supplied to “SURHUL”
We hand to the Finance Department
for processing
The invoice is paid directly from you
groups’ account
Forms
REFRESHE
RS
TRAINING
2016
Claims Forms
• Claiming money from your accounts
• Yourself or others
Paying-in Forms
• Depositing money into your account
• Can also be used for other accounts
• Specify whether for RAG
Purchase Order
Form
• Used for ‘special’ purchases
• Usually online or for invoice
• Must be done in the Student Activities Office
Internal Transfer
Request
• Moving from one group’s accounts to another
• Typically used for transactions such as Socs/Colours Ball
Payment, Equipment Rental, etc.
Transport&&Fixtures
Transport
Fixtures
REFRESHE
RS
TRAINING
2016
Transport&&Fixtures
Transport
Fixtures
REFRESHE
RS
TRAINING
2016
Transport&&Fixtures
Transport
Fixtures
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.
Transport&&Fixtures
Transport
Fixtures
REFRESHE
RS
TRAINING
2016
Good Practice
REFRESHE
RS
TRAINING
2016
• 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
Transport&&Fixtures
Transport
Fixtures
Account statements
REFRESHE
RS
TRAINING
2016
• 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!
Transport&&Fixtures
Transport
Fixtures
Main Account v Social Account
REFRESHE
RS
TRAINING
2016
• 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
Transport&&Fixtures
Transport
Fixtures
REFRESHE
RS
TRAINING
2016
Transport&&Fixtures
Transport
Fixtures
REFRESHE
RS
TRAINING
2016
Transport&&Fixtures
Transport
Fixtures
REFRESHE
RS
TRAINING
2016
Transport&&Fixtures
Transport
Fixtures
Working with Student Activities
What 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
us
•
•
•
•
REFRESHE
RS
TRAINING
do for
2016
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 Back
When 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.
Transport & Fixtures
Annual Budget
REFRESHE
RS
TRAINING
2016
• 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
Transport&&Fixtures
Transport
Fixtures
Annual Grant
REFRESHE
RS
TRAINING
2016
• 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.
Transport&&Fixtures
Transport
Fixtures