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