1. Introduction to being a Treasurer
Number Crunching
Introduction to being a Treasurer

2. Aim of Today Role of the Treasurer Key tasks of a Treasurer
How the accounts work
What paperwork you need to complete & understanding procedures
How to order goods and services
Summary

3. Icebreaker

4. Treasurer
Oversee the financial accounts of the sports club/society as made available by the Students’ Union and be responsible for ensuring that the sports club/society follows the Students’ Union’s financial regulations at all times.
Collect all monies received from sports club/society events and ensure all money is banked with the Students’ Union along with the necessary documentation.
Liaise with the rest of the committee to complete the Grant Allocation forms and ensure they are handed into the Students’ Union by the agreed deadline.
Submit an annual financial report to the VP Student Activities
Be responsible for maintaining overall control over the sports club/society’s finances and ensuring all sports club/society activities or expenditure is financially viable
Ask what they think the key roles are

5. Key Tasks of the Treasurer
Take responsibility for the finances of the club/society
Take the lead on identifying potential sources of income, including fundraising activities, sponsorship opportunities and grant applications
Deal efficiently and effectively with all invoices and bills
Keep up-to-date records of all financial transactions
Ensure that funds are spent properly
Issue receipts and record all money received
Attend committee meetings and present reports on income and expenditure
Plan the annual budget, in agreement with the committee and in conjunction with the Students’ Union and monitor the budget throughout the year
Ensure that only authorised signatories are permitted to withdraw funds from club/society accounts

6. How do the accounts work?
Each Club/Society has an account with the SU. You should NOT have a personal account for your Club/Society.
Questions about your account can be directed to

7. Key Income and Expenditure Items
Income: membership fees, sponsorship, fund-raising, donations, match/training fees, kit money, tour fees
Expenditure: equipment, printing, event materials/promo, affiliations, travel expenses, accommodation, facility hire, coaching & referee fees,
Issues: chasing members for money, BACS payments, invoice payment dates, retaining receipts for personal claims, accountability of money, prompt payment into SU

8. Worcester Students' Union Departmental Balance Sheet
Accounts
Date:
07/09/2017
Worcester Students' Union
Page: 1
Time:
09:15:54
Departmental Balance Sheet
Tran Date From:
01/01/1980
Department:
899
Tran Date To:
31/12/2019
Department Name:
Darts
Chart of Accounts:
Clubs & Socs [PARTIAL]
Period
Year to Date
Current Liabilities
Opening Balance
balance at start of the year (-ve = in debt)
Membership Fees
e.g. Annual membership fees
Sponsorship
500.00
e.g. sponsorship from Tramps, McDonalds etc.
Subs
e.g. match fees
Kit & Clothing
350.00
Income
e.g. non -playing kit sales (ties/t-shirts etc.)
Trip Receipts
400.00
e.g. additional trips not included within membership
Competition Entry
50.00
e.g. entry to Rowing regatta
Fines
10.00
e.g. individual player fines, paid for by the individual
Fundraising
750.00
e.g. funds from organised events in The Hangar
Travel
e.g. Astons Coaches, petrol
Accommodation
e.g. Hotel as part of a trip or 2 day event
Officials
e.g. referees
Kit Purchases
NGB Registrations
e.g. National Governing Body registrations
Competition Fees
e.g. entry to Henley Regatta
Equipment Hire
Costs
e.g. scrum machine, video camera
Trip Expenses
e.g. costs associated with an organised trip
First Aid
Coaches
e.g. external football/basketball coach
Sundries
-2.50
e.g. small expenses not classified elsewhere
Events
e.g. Christmas Ball
Venue Hire
e.g. dressage ring, swimming pool
Payment to Charities
Primarily for RAG use
CURRENT BALANCE +ve in Credit, -ve = in debt

9. Finance Procedures Money In:
1. BACS – preferred option but you must let Finance Office know if a payment is expected via BACS so that it is allocated to the right Club/Society
Bank Details for BACS payments:
Bank: The co-operative bank
Sort Code:
Account No:
Cheque – must be made payable to ‘Worcester Students’ Union’
Cash – this option should be avoided but for fundraising events etc. take cash raised to either Students’ Union Welcome Desk or Finance Office (SU 001) promptly – please don’t collect cash for trips and then bring in large sums of money – this can be set up on MSL
Options 2 and 3 must have a completed Paid In form with payment.
Memberships can be purchased online and at Welcome Desk and will be processed through the purchasing system (MSL)
6. Trips, sweatshirts etc can be set up on the purchasing system as well and bought online or at Welcome Desk – please let Eleanor/Lyndsey know about new items you would like in system.

10. Finance Procedures (2) Money Out: 1. Claiming Expenses Claimant:
- completes a Clubs and Societies Paid Out form (available from WD or can be ed)
- provides evidence of expenditure (receipt or invoice)
- gets authorisation from Chair or Treasurer
- brings claim to Students’ Union Welcome Desk where this will be processed and, if accepted, paid into claimant’s bank account.
2. To make purchases:
- Obtain a quote
- Ensure you club/society has enough funds for expenditure
- Send details of expenditure including quote to Eleanor/Lyndsey who will process a Purchase Order and confirm expenditure acceptable
- Purchase item
- Send invoice to Finance Team for payment Or
- Students’ Union staff will purchase item on your behalf using credit card
PLEASE CONTACT STUDENT ENGAGEMENT CO-ORDINATOR OR STUDENT SPORT ADMINISTRATOR PRIOR TO MAKING PURCHASES OF EXPENSIVE ITEMS
3. Floats
- Floats for fundraising events can be provided – please let Finance Office know in plenty of time what you need.

11. Finance Procedures (3) Sponsorship:
You can get sponsorship from some organisations – please ask Student Engagement Co-ordinator or Student Sport Administrator about the process for this and which organisations can/cannot be approached – once a sponsorship contract has been set up the Finance Office will invoice the organisation.

12. Forms

13. Activity
Typical Year - new darts club - equipment £ £100 - Event £20 per ticket - Travel to event £700
25 members
Membership fee?

14. Real Examples
Training times not suitable, memberships 50% down on previous year and budget
Progressing in the Cup and need more money for transport
Buying new equipment without telling the SU, insurance implications
Verbally agreeing to a contract, that is then disputed, have everything in writing
Telling sponsors you will do something and then not doing it
Upsetting suppliers by not giving SU enough notice to pay the invoice
Turning up at the last minute to buy something on the credit card, that exceeded the card limit

15. Financial Responsibility
You are responsible for the finances this year and ensuring a solvent viable club is handed over to the next person
You have the right to say NO, don’t be pressured into spending money. If its not in the budget, question how it will be paid for
Keep the committee updated of the club balances, always know what costs you still have to incur
Always have a plan B - membership uptake not as high as expected - costs higher than budgeted, need new equipment
REMEMBER WE ARE HERE TO HELP YOU