1. Budget workshop NTU Sport Committee Training 2015/2016

2. We are here to help Zhanna.Shchetkina@ntu.ac.uk – Finance Officer Joel.Moore@ntu.ac.uk – Finance Assistant Mike.Smith@ntu.ac.uk – Sport Development Officer (Outdoor Activities) Dan.Corlett@ntu.ac.uk – Sport Development Officer (Intramural) Louisa.Boddy@ntu.ac.uk – Sport Development Officer (Competitive Sport) TBC – Sport Development Officer (Participation Sport)

3. What is a budget and why is it important? Itemised summary of likely income and expenses for a given period Allows you to determine in advance whether you will have enough funds to do the things you want to do Invaluable tool to help you prioritize your spending and manage your money

4. Club’s budget Expenditure, income, grant Grant request: contribution to the clubs operating costs for the following academic year Reviewed and approved by the management team

5. Grant allocation guidelines Two club categories – different allocation guidelines apply Funded (generally 1/3) and non-funded costs To be spent on specified areas only Cannot be carried forward to next year if unspent!

6. Expenditure Better to over budget VAT – clubs pay pre-vat prices. However, VAT cannot be claimed back on zero-vat goods and when using non-vat registered suppliers Refer to the funding guidelines Trip calculator

7. Income Better to under budget VAT – clubs pay 20% on ALL income raised

8. It is the Treasurer’s responsibility to:  keep track of all transactions  monitor actual expenditure against the budget Actual expenditure and income

9. Budget summary Shows expenditure and income totals, total grant allocation and balance Final balance cannot be zero! Will be used for monitoring income and expenditure on clubs’ accounts

10. Summary Budgeting is the starting point of planning any activities Budget requests are used for determining clubs’ grant allocation Actual income and expenditure need to be tracked and regularly monitored against the budget