Janet Vowles
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Maintaining the society accounts
Ensuring that all members register and pay their
memberships on-line. Please remember: - No Pay, No
Play!!
Ensuring that relevant class or session fees are collected
Maintaining a log of all the ingoing and outgoing payments
to the accounts
Organising payment of external facilities, speakers etc.
Being aware of specific financial tasks which may be
delegated by the society committee to other society
members
Assisting with the Development Plan in Term 3
Liaising with society chair i.e. president or captain on the
society spending
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Responsible and reliable with monetary matters
Serious about the position and liaise with the
Society chair, and or, Societies Activities Assistant
Someone who is available all year with no other
heavy commitments
ALL TREASURERS AND CHAIRS
MUST PROVIDE JANET GREAVES
WITH A PASSPORT SIZED PICTURE
OF THEMSELVES.
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Each Society fund is broken down into four main accounts:
A/C 1 : Travel costs
A/C 2 : Equipment
A/C 3 : Fees and Hire Charges
A/C 4 : Private
There are also four other private accounts which have been allocated
to each Society and can be used as necessary:
A/C 5: Other Private account – mainly used for clothing purchases
A/C 6: Meal account – enables Christmas meal and End of Year meal money to
be kept separate
A/C 7: Charity account – this is the account where the fundraising for your
nominated charity is paid in to
A/C 8: Events/Tour account – payments for specific events, competitions and
tours are kept separately
Please see hand-out for the more information.
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In the third term, it will be your responsibility to apply for a grant
for the following year. The Students’ Union has no obligation to
provide funding, however, the Students’ Union usually does so,
providing several conditions are met:
 The activities of the Society must be consistent with the aims and
objectives of the Students’ Union and in line with Students’ Union Policy
 The Society’s committees must attend all advertised meetings , failure to
do so may result in a fine being levied against your society
 The Society must be run in a way which is considered safe and
acceptable by the Students’ Union
 The Society must submit a completed Development Plan on or before the
stated deadline.
Before you order any goods from Suppliers you must
ensure that there are sufficient funds available in your
society accounts to meet the cost of the goods or services
and the expenditure is in accordance with the aims and
objectives of your society.
See hand-out for more information.
BE AWARE!!!
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It is important to remember V.A.T is chargeable on certain items. Society
memberships are vatable and 20% of your society membership fees will
be deducted and paid over to H.M. Revenue & Customs. V.A.T. may also
be payable on fund-raising events in aid of society funds and on most
equipment/clothing that is bought.
One specific area to be cautious about is the buying of personal clothing
and advice should be sought from the Finance Office before going ahead
with orders. Please make sure any quotations for clothing include
V.A.T.
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Please ensure you obtain a V.A.T receipt for any purchases as the
Students’ Union may be able to claim back V.A.T on your behalf.
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Please note: If your society is collecting money for personal clothing, you
MUST collect and pay in the full price of the goods including V.A.T.
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See hand-out for more information
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It is the policy of the Students’ Union that under NO
CIRCUMSTANCES are clubs or societies allowed to hold an external
bank account, nor must funds be held by a third party.
If a club or society is found to be operating such an account then
their funds will be immediately frozen and will be disciplined as
necessary - possible cessation of the activity.
It is the responsibility of the club/society captain and committee
members to ensure that the funds are being properly handled and
that at NO TIME should money be used to reward committee
members.
Accreditation schemes may be introduced to reward members if the
union recognises that individuals have worked very hard for their
club/society, however, this does not allow for money to be used
fraudulently.
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Many societies raise funds by finding an outside organisation
willing to provide sponsorship. It requires the two parties to
work together for different aims that benefit each other. It is a
business transaction with the sponsor providing the society with
funds in return for a service. It is vital that you clearly
identify what you as a society can offer to the sponsor
and what you require in return.
Please note: Sponsorship arrangements may be liable for
payment of V.A.T so please ensure that you take this into
consideration when agreeing an amount with your sponsor.
If your Committee need any assistance in finding a potential
sponsor, please contact Joanna Gunns, Marketing and
Communication Co-ordinator on [email protected] who will
be able to assist you.
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Provided that events have been carefully planned
and that all aspects of the activity have been
properly thought through, fundraising events can
often go a long way towards funding a society.
Fundraising events may include car washes,
raffles, charity events, rowathons, bag packs,
parties and much more.
Depending on the activity, you may or may not
need to pay V.A.T. - please speak to the finance
staff for more clarity.
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Financial reports for your society are available from the Students’
Union Finance Office and will provide information relating to the
current balance, year to date transactions and historical data if
required.
Please call up to the Finance Office at the start of term to collect the
report on your society balances going forward into the new financial
year. The Students’ Unions financial year end is 31st July and any
Private Account monies for your club are carried forward.
On an on-going basis, it is essential that as part of your role as
Treasurer that you collect your club reports and review them.
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The Treasurer’s Clinic is a service where you can
make an appointment to call in and discuss any
adhoc financial queries that you may have relating
to your society.
Feel free to email Janet Vowles, or make an
appointment via the Reception Staff, in which you
can discuss, in depth, the societies financial
situation.
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Janet Vowles (Finance Manager)
[email protected]
Janet Greaves (Finance Adminstrator)
[email protected]
The Finance Office is open for Society enquiries and
financial transactions between 9.15am-12.45pm and
2.15pm-3.45pm Monday and Wednesday - Friday.
For any additional assistance contact the Societies
Activities Assistant.