Treasurer`s Guide - University of Leicester

Report
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How are Team Leicester Sports Clubs Funded?
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How is the Money Managed?
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How do I Budget for the Year?
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How do I Handle Cash & Paying In?
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How do I Record Transactions?
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Extra Hints and Tips
Grant Funding
Subscriptions and
Fees
Social Events
Sponsorship
Kit/Leisurewear
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Funded by the Students’ Union and the
University
Grants are allocated to affiliated sports clubs
to subsidise the costs involved in running
student sport, including:
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Travel
Affiliation Fees
Entry Fees
Match Officials
Professional Coaching
Hiring Sports Facilities
Equipment
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Clubs are expected to put their own funds
towards running sports activities – it’s very
unlikely that grant funding will cover all costs.
In the Spring Term, clubs submit a budget for
the following academic year in order to be
considered for grant funding.
More details regarding funding will work in
2012/2013 will be sent out at a later date.
Grant Funding
Subscriptions and
Fees
Social Events
Sponsorship
Kit/Leisurewear
SPORTS CLUBS
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All Sports Clubs charge a minimum of £25
subscription fee at the start of the academic
year.
Term Fees/Match fees/Training fees (Mat
fees)
◦ On top of the £25 subscription fee
◦ Collect the money each time
◦ Chase those who do not pay
SPORTS CLUBS
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Charge a slightly higher joining fee instead
Remember that Associate Members
(Alumni or Staff) should be paying more than
Full Members;
◦ Clubs should not be providing subsidised sport for
people who are earning a salary
◦ The subsidies are for students only
◦ They will need an Associate Sports Card
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Set your budget in the light of that
Grant Funding
Subscriptions and
Fees
Social Events
Sponsorship
Kit/Leisure Ware
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Active social scene - thrive and grow each
year
Why not make a profit?
At least break-even, however try to make a
profit if you can.
What you cannot do is use Student Groups
Grant funds to subsidise social events.
◦ It is Frowned upon to even use your Fundraising
Account to purchase Alcohol

Make sure everyone pays up front BEFORE
you make a firm booking for your event.
◦ No pay = No go
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Ask around before you commit the Student
Groups to any specific venue for an event;
◦ There are some places to be avoided and they may
well be the ones who are pressuring you to make a
booking.

Social events must either break even or make
a profit, you should never be left out of
pocket from an Event!
Grant Funding
Subscriptions and
Fees
Social Events
Sponsorship
Kit/Leisurewear
GETTING SPONSORSHIP

You can try to gain sponsorship from any
organisation which isn’t in contravention of
Students’ Union policy.
◦ Bear in mind that you will be allying the University’s
name to a sponsor and the University will take a
dim view of being linked to anything derogatory.

Check with Ian Read (Development Officers)
or Kerri Wheeler (Sports Administrator)
MEETING A POTENTIAL SPONSOR

Strength in Numbers! Best if two or three of you go to
talk to a prospective sponsor in the early stages.
◦ Explain how they benefit from being your sponsor, logos etc..
◦ What can they offer you? Money, Kit, food deals etc…
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Make notes of what they expect and what you have
indicated you can deliver.
Once you have worked out a deal, put it in writing
and get it signed by both sides.
◦ Keep a copy and give a copy to your sponsor.
TRICKS TO WATCH OUT FOR
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Hidden Costs:
◦ No good having £300.00 in sponsorship if it costs
the society/club £350.00 to have the sponsor’s
logo embroidered on a team strip or society hoodie.
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If part of the deal is regular attendance at, say, a
local pub or curry house, set up an attendance
book there which you all sign each time you visit. It
will provide evidence that you have kept your side
of the bargain.
No to bar tabs.
Be realistic! Don’t make promises you can’t. .
.
Keep
Grant Funding
Subscriptions and
Fees
Social Events
Sponsorship
Kit/Leisurewear

You should take either full payment or
deposit before you place an order.
 If no money is handed over to you, do not order that
individuals kit.
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All money needs to be in the account before the
kit/leisurewear arrives.
 If not the items will not be given over to the club until
payment has been received.
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Look to make a small profit of the leisurewear?
It is ADVISED, sufficient funds are in the
fundraising account before a purchase order is
raised by the ARC office.
Grant Funding
Account
Subscriptions and
Fees
Fundraising
Fundraising
Social Events Account
AccountSponsorship
Withdrawing
Kit/Leisurewear
Paying In
Money
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Grant Accounts – Money the SU gives you to
help run your student group
Fundraising Account - All the money that the
Student Groups pulls in for itself
(membership fees etc, mat fees, social
events, sponsorship deals, etc.)
Both accounts are kept within our Finance
department.
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All grants are administered by your Student Development
Officer in the ARC.
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Only costs for which grant funding has been allocated will
be paid or reimbursed.
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If you need to check how much grant you have left – go to
the ARC and ask your Student Development Officer
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Once you have spent your grant funds, any outstanding
payments will be taken from your fundraising account.
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Breakdown of Grant Funds will be sent to you during the
Summer Vacation.
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Get statements from the Finance Office
If you see a minus figure (-) next to the
number that means you are in credit.
All money that you take MUST be paid in to
the Students’ Union Finance Office. DO NOT
KEEP IT HIDDEN UNDER YOUR BED.
Please let Ian/Kerri know.
Grant Funding
Account
Fundraising
Account
Withdrawing
Money
Paying In

Money can be directly paid in with the Finance Office.
A paying in form must be FULLY completed for the
Finance Office to accept your payment.
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They will then issue you with a receipt.
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Cheques must be made payable to ‘LUSU’. You will
then need to inform the Finance Office which account
this money needs to be allocated to (e.g. Karate Club,
Men’s Hockey)
Always kept receipts from Finance.
LINK
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Please let Ian or Kerri know when you pay
money into your fundraising account.
◦ We keep a rough record of what is going in and out.

If you pay cheques into the account, remember
they will need at least five to ten working days to
clear before you can draw on them.
Grant Funding
Account
Fundraising
Account
Withdrawing
Money
Paying In
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Invoices Sent to Ian
◦ Sports Invoices e.g. coaches invoices or transport,
my be sent to the Sports Association
◦ Directly paid from the Finance Office and deducted
from the grant (or fundraising) account
◦ Ian may ask you to check some invoices before they
are paid by the Finance Office, e.g. coaches invoices
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Majority of withdrawals
MUST complete a withdrawal form – Both
accounts
Official Withdrawal Form accessed online.
◦ You will need to submit evidence such as
invoice/receipts with the form as proof of the
expenditure.
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All reimbursement goes through YOU
◦ If individual members come directly to the ARC for
reimbursement for, say, mileage costs, they will be
referred back to you to have their claim authorised.
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Two signatures – Treasurer & Club Captain
Proof – receipts, invoices, match official
payment form.
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Clear description on the front
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Tick Grant/Fundraising
◦ If from Grant – Why & How does it benefit your
members.
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Keep copies of all invoices, receipts etc
All transactions must be recorded on your
accounts sheet which is supplied by your
Student Development Officer.
If you do not cash a cheque, take it back to
finance so they can put the money back into
your account.
Grant Funding
Account
Recording
Fundraising
Systems
Account
Withdrawing
Money
Paying In
CASH/PETTY CASH
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Try not to have a petty cash system.
If you must have a petty cash fund, draw what
you need from the Finance Office, and keep a
record of its expenditure
◦ We recommend no more than £20 petty cash fund.
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For security and accountability, always put
your money into the fundraising account.
Then draw on it by completing a withdrawal
form for a cheque.
CASH/PETTY CASH
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NEVER retain cash to use as petty cash. You
will be putting yourself at risk of losing the
money, having it stolen, or being accused of
keeping it for yourself!
At the end of the year, pay any unused money
back into the Fundraising account.
Your record keeping should show an exact
balance between the amount drawn out, the
expenditure and the amount paid back in.
CASH/PETTY CASH
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To get Cash – must complete a withdrawal
form & attach a copy of proof e.g. invoice,
receipts or minutes.
Cash payments can be made by the Finance
Office up to the sum of £200
◦ Anything over £100 we advice you get receipts from
Finance.
SIMPLE ACCOUNTS SHEET
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Recommended that ALL transactions in and
out of the fundraising account are recorded
as soon as they happen.
There is a simple accounts sheet provided by
the ARC. This can be provided as a hard copy
for manual record keeping, and as an Excel
spreadsheet.
◦ Use whichever method suits you best.
CLUB
Ping Pong
ACCOUNT NO:
Fundraising EXXX
YEAR: 2012/13
1
DATE
OF
WITHDRAWAL
PAY-IN
01/10/2012
3
DETAILS
4
WITHDRAW
N
(-)
5
PAID IN
(+)
6
BALANCE
Balance in Fundraising account 2012/2013
0.00
0.00
500.00
01/11/2012
Hoodies
0.00
50.00
550.00
01/11/2012
Transport to friendly fixture on 26/10/12 @ Nottingham Driver
Bob Zen 0.20p x 70 miles
14.00
0.00
536.00
13/11/2012
Members accommodation fees from members = 2 nights 2
people
Entry Fees to tournament in Exeter 15.11.12
0.00
100.00
636.00
60.00
0.00
576.00
100.00
0.00
476.00
40.00
0.00
436.00
0.00
0.00
436.00
15/11/2012
15/11/2012
14/12/2012
Accommodation in Exeter 2 people - Nelson Hotel Invoice n.o.
XXX0X
Payment of hoodies to Kukri order n.o. D00734
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Always keep the records up to date so that
you know exactly how much money is in the
bank account at any point.
Request copy statement from finance office
to compare your records with theirs
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To find out your clubs opening balance
please contact the Finance Office directly.
An account print out from the Finance Office
won’t necessarily give you the same
information as it will only tell you the
transactions which have been cleared through
the account.
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A Budget is an estimate of your clubs
financial situation for following year
 How much will you generate?
 How much will you spend?
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Predecessor should have drawn a budget as
part of the application for grant funding.
If not - go through the accounts for the
previous two or three years and analyse the
sources of income and expenditure (if
available).
YOU NOW NEED TO THINK THE YEAR’S
ACTIVITIES THROUGH:
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What is the club hoping to do?
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What is that all going to cost?
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What grant funding is there & how has it been
split?
What income can the club generate for itself?
What can the club do without if there isn’t
enough money?
GET YOUR COMMITTEE INVOLVED
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Need to talk to your Club Captain and the
committee.
Involve them and get them to understand the
financial implications of running the club.
They are less likely to think that you have a
bottomless purse.
Present a financial report to them at least
once a term so that they can see where the
money is going.
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Don’t book a local hotel for 100 members at
the society/club ball if you have only got
payment from 40 of them.
Don’t let debts fester on.
◦ If a society/club member owes you money, make
sure they pay it. Write to them. Ring them. E-mail
them. Call round at their house. Catch them in the
pub when they will have cash on them!
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People who don’t pay up are being subsidised
by everyone else. None of you can afford that!
1.
2.
3.
4.
Check your e-mails and the student pigeonhole
regularly.
Don’t keep cash in your room. You are not
insured if it goes missing.
Don’t be tempted to keep cash you have
collected to use as a float. – Put it into Finance
If you need petty cash, draw out a small amount,
keep a separate record of cash expenditure, and
top up from the Finance Office as needed.
5. If you pay cheques into the account, remember
they will need at least five to ten working days
to clear before you can draw on them.
6. If, despite your best efforts, the club runs into
financial problems, get in touch with your
relevant Student Development Officer as soon
as you can.
7. There are always solutions.
8. Clubs cannot be in the RED at the end of the
academic year = affect Grant Funding
DON’T SPEND WHAT YOU HAVE NOT GOT!
More complicated on paper than in the doing,
so don't panic.
If, despite all your best efforts, the finances run
into trouble, don't despair - and don't just
shovel it under your bed in the hope it will go
away.
Bring your problems to the ARC as soon as you
can.
Together we will find a solution
Any Questions?

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