2015/16
Sports Clubs Committee Finance Training
2015/16
Seminar Workbook
VAT
You are organising a competition and have budgeted for the following costs:
Venue hire: £30/h x 3 hours = £90.00 (Inc. VAT)
Judges: 3 judges for 2 hours. Agreed pay rate- £20/h
Trophies: £12 x 3 = £36 (Inc. VAT)
DJ, light technicians: provided by the same company, total quoted price £300 (Exc. VAT)
5 other universities have expressed interest in taking part in the competition (one team from each
uni). Your charge per team is £30.
You also have 100 spectator tickets to sell at £5 each.
a) Calculate the total cost to your club: (£90 + £36)/1.2 +£300 + £20*3*2 = £525.00
b) Calculate the total club income: (£30 *5 + £5*100)/1.2 = £541.67
Purchasing
1. You need to purchase a few things for the Fresher’s Fair. How will you do it?
a) Contact the supplier-> Place an order-> Inform your SDO and ask the Finance Officer to pay
b) Complete a purchase request-> Send it to SDO -> Wait for approval and further instructions
from the Finance Officer-> Place an order
c) Complete a purchase request-> Send it to SDO-> Place an order
2. It is Friday. You need to book a venue for an event the following Tuesday. As you are running out
of time you book the venue without submitting a purchase request. How are you going to pay?
a) Ask the supplier to send an invoice to NTU Sport and ask the Finance Officer to pay
b) From your own pocket
3. What is the correct NTU Sport invoice address?
a) Nottingham Consultants, Burton Street, Nottingham, NG1 4BU
b) <Club name>, Lee Westwood Sports Centre, Clifton Lane, NG11 8NG
c) NTUSU, SU Building, Shakespeare Street, NG1 4BU
4. Find errors/ missing information:
INVOICE
To: Nottingham Trent University
Sports and Lifestyle
Clifton Lane
DATE?
INVOICE NUMBER?
PO NUMBER?
Nottingham NG11 8NS
From: College Farm Equestrian Centre
West Markham
Tuxford Nr Newark
Notts
POST CODE?
Invoice for delivery of team training x 2 sessions 6.5.14
£90.00
Invoice for delivery of team training x 2 sessions 13.5.14
£90.00
VAT?
Total
PAYMENT DETAILS?
£180.00
Account
Complete the blanks
Income
Opening balance
Sponsorship
Sports kit
Ocean
Trips
Subscriptions
Other
9642
9485
9486
9644
9481
9698
Club XXX
Total
Forecast Actual
Variance, %
£ 7,121.04 £ 7,121.04
0.00
£ 2,083.33 £ 500.00
-76.00
-£76.00
£
£
£ 920.00 £ 200.00
-78.26
£
£
£ 5,333.33 £ 6,000.00
12.50
£
£
£ 8,336.67 £ 6,700.00
-19.63
Expenditure
Internal coaches
External coaches
Affiliation, entry fees
Equipment
Venue hire
Transport
Accomodation
Sports kit
Referees, Umpires
Miscellaneous
Internal transfers
Stationary, printing
Total
1150
3460
3110
3125
3127
4820
2480
3368
3475
7399
7373
5151
£
£
£
£
£
£
£
£
£
£
£
£
454.17
2,800.00
1,575.00
2,500.00
200.00
7,529.17
807.50
£ 50.00
£ 50.00
££1,500.00
1,500.00
£ 100.00
£ 300.00
-88.99
-46.43
£ 1,500.00
£ 100.00
-4.76
-96.00
£ 250.00
£ 3,850.00
£ 2,850.00
25.00
-48.87
X1111
Grant
1/2 up to Xmas Spent
£
£
£
£
£
£
£
75.52 £ 50.00
£ £462.00
462.00 £ 462.00
£
75.00 £ 75.00
£
£
£
£
£
£
£
£
N/A
£
£
£ 1,225.04 £ 612.52 £ 587.00
Allocated
£
£
£
£ 151.04
£ 924.00
£ 150.00
£
£
£
£
-
Club contribution
Remaining
£
£
£
££25.52
25.52
£
£
£
£
£
£
£
£
25.52
£
£
£
£
£
££
£
£
£
£
£
£
£
50.00
1,038.00
25.00
£25.00
300.00
1,500.00
100.00
250.00
3,263.00
£3,437.00
£ 3,437.00
Overall club balance- will be transferre
Seminar Workbook
Ocean Tickets
Important Info;



There are 29 weeks of University in the academic year
Each club receives £2 per Ocean ticket sold
There are 20 Ocean tickets per book
1. If your club is allocated 2 books every week and sells on average 80% of their tickets.
How much money will your club raise over the course of the year?
2 books = 40 tickets, 80% of 40 tickets = 32
32 29 weeks x £2 = £1856
2. How much money is the club missing out on by not selling the remaining 20%?
20% of 40 tickets = 8
8 x 29 weeks x £2 = £464
Remember you have to reach your sales percentages otherwise your book allocation will
be reduced by 1:
 3 books – sales of at least 85%
 2 books – sales of at least 80%
 1 book – sales of at least 75%
Sponsorship Agreement
1.
2.
3.
4.
5.
Club name is wrong. Should be NTU Canoe Club
Company number is a contact number. Address is missing postcode
Missing printed name. Not dated
No invoice address and includes number requirements.
The deal should not be accepted as a minimum spend is in the agreement.
Seminar Workbook