1. How to run your group financially Tip: Not like this ->
Overview of Funding
How to run your group financially
Tip: Not like this ->

2. Money, money, money… SU is a charity funded by:
Block grant from University
Commercial activities (bar/shop)
Memberships (gym, Associate members, club/socs)
Advertising (beer mats, student guide etc)
Grants/Project funds - Sportivate

3. Students’ Union (dept 30) pays for:
Affiliation to BUCS
Insurance – Public Liability & personal cover
First Aid training & kits
Other training –eg driving the minibus
End of year awards

4. Your Club/Society pays for:
Referees/Officials
Equipment for your activities
Competition entry fees
Transport/petrol costs
Uniforms or kits - available for any members
Kit laundry (in most cases – especially when they end up like this…)
Photocopying
Event costs
Venue hire

5. Individuals pay for: Weekly subs/match fees Personalised clothing
Tour tops
Social events
Trips & tours
Tickets for awards nights

6. Other things you need to know…
AU Membership £31 minimum
£30 allocated to your club’s department
£1 for online fees & card processing
Society Membership £3 minimum
£2 allocated to your society’s department
£1 for online fees & card processing
Balance from is brought forward (even if it’s in minus)
Financial year is August 1st – July 31st
Match fees £3 per match (regardless of how much of the match someone plays in)

7. Setting budgets: Expenditure = Income

8. Setting budgets: Expenditure greater than Income

9. Step 1: What do you want to do?
Example 1: Basketball team
6 x home matches (3 in Term 1 and 3 in Term 2)
6 x away matches (3 in Term 1 and 3 in Term 2)
Train 1x week at hired facilities
Need new basketballs
Send 1 player on a coaching course
Spectacular Freshers Fair – merchandise & fliers

10. Step 2: How much will that cost? Example 1: Basketball
Nominal code
Sept
Oct
Nov
Dec
Facilities hire
£200
£100
Transport
£400
Umpires
£30
£60
Coaching course
£250
Equipment
£80
Printing
£10
Gifts and samples

11. Example 2: Surf Society Recruit loads of keen new members
1 x weekend surf trip away each term for <10 people
Enter the BUCS National Surf competition in Oct
Run weekly socials at the SU and around Bath

12. Step 2: How much will that cost? Example 2: Surf Society
Nominal code
Sept
Oct
Nov
Dec
Transport
£800
Comp entry fees
£100
Accommodation
£1500 
Equipment
£300
Printing
£10
Gifts and samples

13. Sources of Income (because money doesn’t grow on trees)
Match fees/ Weekly Subs
Sponsorship
Memberships
Extra-Curricular Activities Fund (EAF)
Positive balance from 15/16 (or deficit)
Fundraising – eg bag packs, Bath Half, car washes, events, SU cashback
SU Donation

14. Funding from the Students’ Union
The SU has a fixed amount to donate to clubs/societies
Donation is based on how much you need
But: unlikely to be 100% of what you need – you will need to fundraise the rest

15. Budgeting: Top Tips Costs – be pessimistic! Income – be pessimistic!
Don’t forget that costs will have gone up from 15-16
Save money in your spending – not in your budgeting
Fundraising trumps saving
Don’t forget to budget for equipment
We love talking about money – come and chat to us

16. Oh no! Time to talk about VAT…
Athletic Union Club
Sports Societies
Non-sporting societies
Membership
VAT exempt
Receive all membership income
VAT exempt – Receive all membership income
Not VAT exempt – Receive 80% of membership fees
Eg you charge £2, you receive £1.66
Expenditure
You pay the VAT: eg if an item is £100 + VAT, you pay £120
You reclaim VAT: eg if an item is £100 + VAT (£120), you pay £100 (you pay the £120 and we reclaim the VAT on your behalf)

17. If only it were that simple!
The following items are not VAT exempt (AU & sports societies only)
Socials and Trips
Kit/equipment for resale
Income including sponsorship, tickets, weekly fees (excluding sports) will have VAT deducted
Try to use VAT registered companies – you may be able to reclaim the VAT

18. VAT… …Is really complicated! Ask if you’re not sure
Assume you’ll have to pay it
Remember to factor it in to your budgets

19. Spending your ££££ To spend money:
Order items through the SU – invoice
Order items yourself – send the invoice to the SU
SU’s credit card
If there is no alternative it may be possible to claim back cash on expenditure of up to £50.
Ensure there are sufficient funds in your club or society’s account
complete a Cash Request Form (available from the Students’ Union)
attach the VAT receipt (no receipt = no money)

20. Common mistakes: Spending ££££
Losing the receipt
Only keeping the card receipt: we need the itemised part – we need to see what you actually bought
Spending money on things that aren’t in your budget (where is that money going to come from?)
Trying to reclaim money for alcohol
Relying on getting money back the same day

21. Next Steps Think through what you want to do – detail
Work out your costs
Find out if you are carrying over any funds from 15-16
Think about whether your membership rate is right
Introduce yourselves to Melissa – she’s your new BFF
Dates to return budgets: 31st August – Blank template available on Committee Resources

22. Thank you!