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Finance and Funding Training
Transcript of Finance and Funding Training
Role of a Treasurer
Important things to Remember
Balances & Expenses
Balances & Expenses
The Finance Office
Where, when, what...
Where can I find out more?
Being a Treasurer
Download the App!
Role of a Treasurer
Important things to Remember
Finance and Funding
Group Leader Training
Free to download - search for '
' in the App Store (iOS - iPhone/iPad/iPod Touch on iOS 7.0 or later) or Google Play Store (Android - device running Android 4.0.3 or later).
Download the app now if possible so that you can use it later in the session. Tap '
' and enter your University email address, then follow the instructions.
Role of a Treasurer
What do you think the role of a student group treasurer is?
with those sitting around you. Try to come up with 3 ideas each.
Important Things to Remember
Use of invoices is the safest way to pay for things - "
a list of goods sent or services provided, with a statement of the sum due for these
Expenses refers to "
money spent or cost incurred in an effort to generate revenue or activity
". Receipts are always needed for any reimbursement.
All invoices and expenses must be authorised by the Treasurer. Presidents can only authorise these if the Treasurer is unavailable and cannot be contacted.
The cash machine is in the outer part of the Finance Office (B Floor, Portland). This is accessible whenever the building is open. Ask for assistance from Finance the first time you use it. Reprint your deposit receipt, add details on what the deposit is for then put one copy in the Drop Box to add this detail to your statement.
If handling cash, be aware that you as Treasurer are ultimately responsible.
Take care to avoid any situations where someone could question the cash handling process, or where an individual is in charge of a large sum of cash. Wherever possible, all amounts over
should be deposited in the cash machine.
You can sell Tickets and Products for events/merchandise/classes etc. online through the SU website. The money goes into your SU account within a couple of days, so means you aren't responsible for handling any cash.
Societies>Committee>Selling Tickets and Products
to do this.
Plan ahead - these can't be processed on a Friday!
GOLDEN RULE 2:
YOU ARE ONLY PERMITTED TO USE YOUR SU BANK ACCOUNT.
NO ACCOUNTS WITH EXTERNAL BANKS ARE ALLOWED, TO ABIDE BY CHARITIES LAW.
GOLDEN RULE 1:
Development Co-ordinators must authorise any payments (e.g. invoices/expenses) over £1500. Ensure you plan in appropriate timescales when making payments to bear this in mind.
Your account code will look similar to this:
The first part of the code will usually be three letters. These differ depending upon which type of group you are.
The second part of the code will either be three numbers, or a letter followed by two numbers
Available once a year - applications open in the Summer Term and allocated over the holidays.
Up to four rounds
There are 6 different funding streams available relating to different areas of activity. Groups can apply for funding support for activities that meet the criteria for the relevant fund.
Postgraduate Activity Development
Cultural Activity Development
Campaigning Activity Development
Volunteering Activity Development
Employability Activity Development
A more in-depth look at sponsorship takes place in the Events session and in Silver training sessions, but there is a golden rule regarding sponsorship...
GOLDEN RULE 3
- ALL SPONSORSHIP AGREEMENTS MUST BE REFLECTED IN A SIGNED CONTRACT. GROUPS MUST USE OUR TEMPLATE CONTRACT AND GET A SIGNATURE FROM OUR SPONSORSHIP TEAM
GETTING A SIGNATURE FROM THE SPONSOR.
Be of benefit to the wider student community
Assist students to engage with other communities (including alumni)
Provide significant benefit to a specific group of students
Exclusions include projects that don't directly enhance student experience, research funding, staff costs, projects where funding would normally be expected from somewhere else, applications that will only benefit a single society.
All applications must be endorsed by the Sponsorship Team and the SU President before being passed to Cascade. The next deadline is in the Spring term.
Sometimes groups are given a gift - this often comes from a former member, or an external person who has been heavily involved in the group. A gift is usually financial, but could also be something else. We define a gift as something being given without obligations.
If someone wishes to give a gift to your group, that will be fine - but you need to pass them on to the Sponsorship Manager (email@example.com) and he will help them complete the process.
Other Funding Opportunities
There are often other funding opportunities advertised throughout the year, such as for working with local schools. Please make sure you read all newsletters and emails from your co-ordinator so you don't miss out on any of these.
The Finance App
Person who is claiming here
Treasurer/ President (if treasurer claiming) here
VERY important to fill in this box
Use google maps for vehicle mile reimbursement
Services & Paying People
Paying for things through
way to work.
Committee members don't have to find the cash to pay for something themselves then claim it back
It leaves a clear and easy-to-follow trail for audit and future budgeting perspectives
Not all expenditure will be able to be processed through invoicing, but please try to use invoices as far as possible!
Ask for the invoice to be sent to your University email account
This means when you pass it on to Finance they are easily able to verify that you are the Treasurer
Is the invoice for over £1500? If so, please remember
GOLDEN RULE 1
all expenditure over £1500 must be authorised by your development co-ordinator.
If this applies, ensure you have received authorisation from your co-ordinator
you have committed to paying the sum.
When the invoice has been received, forward this on (with any required co-ordinator authorisation) to
along with the following details:
Your student group account code (e.g. SOC-999)
Your student group name
What the expenditure is for (e.g. equipment)
State that you are the treasurer of the group and you would like this invoice to be paid
Invoices are only paid
once a week
, on a
(some changes apply for bank holiday weekends)
Please ensure you have submitted any invoices to Finance by 4pm on the
Invoices take a few working days to hit the bank account of the recipient so if you have a deadline for payment, please
to allow time for this
we can process same-day invoices for urgent payment, however the bank charges us for this which can cost your group up to
Many student groups raise funds for charities, which is fantastic to see. There are a few things groups need to bear in mind in this situation though:
As your student group is part of a Charity, you
just give any funds that we have given you (through grant or development funding) to another charity.
You are permitted to use grant funds to support activity that
for another charity - for example, buying ingredients for cakes for a bake sale.
To pay funds you have raised to another charity:
1) Get the bank details from the nominated charity on their headed paper and signed by an appropriate person (an official email will be accepted).
2) Written request signed by the treasurer of the student group wishing to make the donation clearly stating the amount and your full account code.
3) Email both of these to
For more information, please contact the counter staff in the Finance office or email
This policy applies to guest speakers, training coaches, instructors, lecturers, performers, and all similar cases.
Is this a regular payment, such as a class instructor you use often?
Yes - ensure they are registered with us by emailing
. They can be paid by invoice or by going on the Union payroll, which would then be charged to your account.
If they can't issue an invoice or you have to pay them in cash on the day, they need to fill out a 'Student Group Service Fee' form.
This covers your group against employment law infringements. Pay the person after they have filled this in, then use the form (along with any receipts they may give you, such as train tickets) for you to claim your money back from the group account.
We have a credit card which we allow student groups to use in certain circumstances:
If the payment is for over
If the payment can
If the payment
be made through invoicing
The credit card cannot be taken out of the Finance office, so the payment must be made
Purchasing flights is one example - however, if you need to present the credit card at check-in then do not use the card as we won't let you take it away with you!
SB groups - Una can come to UP to use the card for you but you need to tell her as far in advance as possible!
As with all credit cards, there is a limit - so please only use it in exceptional circumstances!
B Floor, Portland Building, UP Campus
Monday-Friday (excluding Bank Holidays)
SB groups - speak to Una Lilley in the Barn, or Maria Brown who is over every Wednesday
Putting in expenses claims or asking for balance statements - but only if you can't do it on the App! These can also be emailed to
Ask for advice on how to do something - general enquiries can go to
Payment of invoices - can be submitted electronically to
, physically handed to the staff, or posted in the Drop Box if the office is closed
Putting cash into the cash deposit machine (remember we operate a cashless finance office, all cash must be deposited into the machine - ask for help the first time you use it!)
Review your key info lanyards that will be issued to Presidents
Check the Finance Committee pages information (
Ask your Development Co-ordinator if you have any specific questions
the events/activities that make your group unique
Group complete their application
Send to Co-ordinator for review
Co-ordinator will discuss/amend with group
Application goes to student panel for decision
Group complete their application
Staff lead gives initial review (may ask questions)
Stuent/staff panel decides allocation
Group must feedback on funding impact
Have a question on this? Discuss it with the Sponsorship & Fundraising team by emailing firstname.lastname@example.org.
Administered by the University
Available up to 3 times a year
Funds projects which "directly enhance the experience of students"
Groups can apply for up to £10,000 (smaller applications more likely to be successful)
All groups (except sport clubs) can apply
Jumpstart platform launched last year
Partnership with the University
Can be used to gain smaller levels of support from huge numbers of people
Projects must meet criteria before they'll be put onto the platform
All groups can apply - see Sponsorship session for more information
University Park/Jubilee/QMC groups
Sutton Bonington / Derby groups
SB groups can pay in any cash to the Guild Office in the Barn.
Derby groups should liaise with Una Lilley (email@example.com) who is over at Derby each week and can collect cash for you.
On your group admin tools, select Sales Reports
Sales Report shows overall number of sales e.g. 30 membership sales, 45 ticket sales for Summer Ball
Purchasers Report shows names of each individual who has purchased
Customisations shows all the responses to questions asked on each purchase, e.g. dietary requirements. Download as a CSV file then re-save it as an Excel file for most effective way to view for larger events.