Transcript Mr Bloggs – Arts Convenor

Treasurer Training
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Communication
• Participate to general meetings and report the
expenses and income from activities.
• Collect the money from members for the events
that have a fee.
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• At the end of the year you have to make a report
with all the income and the way those money
were spent and to send it to all members of the
society.
Annual Budgets
• Each society will get an annual budget from
the Guild
• Meet with your committee to discuss plans –
talk to last year’s committee for advice!!
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• The treasurer must complete the budget form
by the 3rd term deadline – look for email
• They must include ALL predicted expenses and
incomes, making sure not to overestimate or
underestimate
• If, during the year, they incur any additional
costs, they must complete a supplementary
budget form
Union Fund vs Club Fund
• Union Fund – Can only be spent on approved
budgeted costs.
• Union Fund – Made up from membership money
+ any grant given by the Societies Guild
• Club Fund – Can be spent on anything other that
alcohol, anything illegal and only if it benefits all
members. i.e. no exec hoodies.
• Club Fund – Made up from unspent membership
money from previous year + any money
fundraised by society.
Weekly Reports
• You will receive an weekly report with everything that your society owns and
has spent.
• Keep track of the expenses and make sure everything is alright
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Claiming back
expenses
• All the expenses are paid from your money and after you claim
them back.
• You can only claim the expenses that are approved in your budget
from your Union fund
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• Expenses not in budget come from Club Fund but must benefit all
members!
• Treasurer’s must sign all expenses
• If you are claiming back your own expenses you need the president
to sign up the forms.
http://www.essexstudent.com/pageassets/newsocguild/help/How-tofill-an-expenses-claim-form.pdf
VAT
• Societies are subject to VAT
• This means if membership price is £5 the
society will receive £4.33
• You can work out what the society will receive
by dividing by 1.2 i.e. £5/1.2=£4.33
• They can also claim back VAT on expenses if
they have a VAT receipt.
External Speakers
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You are not allowed to use the society’s
funds to pay for external speakers.
However, you are allowed to pay for his/her
transportation and other expenses such as
printing, food.
Refunding for the members of the society
that are driving (to bring the external
speaker, guest) is available and it is 25p per
mile.
Sponsorship
• Societies are allowed to seek external
sponsorships
• HOWEVER: the companies cannot be in direct
competition with the SU, e.g. Nandos
• Societies CANNOT sign a contract on behalf of
their society – this is FRAUD, they need to get
contract sent to Rae
Bank Accounts
• It is ILLEGAL for societies to open a separate
bank account!
• All incomings and outgoings MUST be paid in
their societies account
• No charity money should go into their account
but go through RAG account
Help
Familiarise with this section it contains valuable information
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Contacts
SAD Office – [email protected]
Michelina Chindiya –
[email protected]