located on 2 nd floor of suhq open throughout the year monday 10.00am ‘til 6.00pm new! tuesday to...
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Warwick Students’ Union
Managing Your Club’sFinances
The Finance Office
Located on 2nd floor of SUHQOpen throughout the yearMonday 10.00am ‘til 6.00pm NEW!Tuesday to Friday 10.00am ‘til 3.00pmContact us: [email protected]
We Are Not The Fun Police!
We are not here to confuse you about finance We are not here to tell how to spend your money We are not here to confine or curtail your activities
BUT…Club activities must be legal and compliant…
What We Do For YouWe’re here to help make the running of your
club as straightforward as possible…• Paying in cash, cheques and charity buckets
…but we can’t accept credit or debit cards• Payments to members and suppliers• Insurance and tax issues• Account deficits and debt planning
Don’t bury your head in the sand or drown in paperwork!
If you need help, please get in touch
Warwick Students’ Union
UK registered charity, number 1136894Charitable company, number 7297865
Memorandum & Articles of AssociationLays out the purpose of the Union and how it’s administered
Ultra vires – ‘beyond power’The SU – and its sports clubs & societies – must work within the Objects outlined in Section 4
SU ClubsA club…
is an unincorporated charitable membership organisation
is affiliated to, and subject to, the SU’s constitution, by-laws, policies & financial regulations
must have a President, a Secretary and a TREASURER
A club is NOT a small business with the aim of generating lots of profit or cash!
Finance WebGet your log in & password from your Co-ordinatorLog in regularly to check your account balance but…Don’t rely exclusively on Finance Web – keep your own records
Click on ‘Select’ in the Action column to drill down to
individual transactions
Coding StructureAccount code – Club Cost Centre – Department Code
Income codes always start with 19**Highlighted in GREEN on Finance Web
Expenditure codes always start 49**Highlighted in RED on Finance Web
Non-BUCS income & expenditure – use dept. X01BUCS income & expenditure – use dept. X09
An account code list will be emailed to you
Finance FormsSales Invoice Form – Money Request Form – Purchase Order
Form
Please ensure your forms…• are complete, accurate and legible• are authorised by an appropriate member of your Exec• include supporting documentation / invoices / receipts• are handed in at the Resources Room• are submitted in time for us to process to any deadline
Blank forms can be downloaded from the SU’s website
IncomeMembership fees & contributionsSU & UoW fundingSponsorshipDonations
Think strategically – and legally – abouthow you generate incomeRemember clubs cannot trade – it’s ultra vires
Paying In MoneyCash or cheques to bank?Deposit at the Finance Office as soon as possibleCheques payable to ‘WSU’
You will always be given a receipt when you deposit funds into your society account
ExpenditureRegular events & day-to day expensesOne-off eventsEquipment purchases
Grants: use it or lose it!
Is your club sustainable?
Remember: members’ funds shouldbe used to benefit members
Spending MoneyMembers Registered
Companies
Non-MembersSelf-EmployedPartnerships
CASHUp to £50 from Finance Office
Counter
Turnaround: 3 days*
Credit CardUse the card in
the Finance Office
Cannot use PayPal accounts
Turnaround: 3 days*
Foreign BACSBIC & IBAN
for EU & EEA
BIC & account number outside
of EU/EEATurnaround:Min. 5 days*
MRF
BACSSort code &
account number
Turnaround: 5 days*
* Turnaround times may be longer during vacation
Need More Training?Need further advice or training? - completed the online ‘Managing Your Money’ course - read the Role Guides for each of the Exec positions - contact your Co-ordinator
Warwick Sport grant applications for 2016-17 - training sessions will take place in Term 3
Exec Handover Training - Handover Sessions will be scheduled for Term 3
Useful ContactsAlex Roberts, Sports Officer [email protected]
Gerard Henry, Student Activities [email protected] Kiely, Sports Co-ordinator [email protected] Browne, BUCS Co-ordinator [email protected]
Laura Dickens, Campaigns [email protected]
Sarah Harris, Management Accountant [email protected] Anderson, Deputy Finance Manager [email protected]