Finance

Here you will find all the forms and resources you need to run your student group finances.

Paying Money In

Your membership fees and ticket sales will go directly into your budget line when being purchased online or at the SU reception, but if you have been raising funds or have on the door ticket sales to pay in please complete the paying in form and hand in to the SU reception with money you wish to deposit. Remember to give yourself enough time to count the money out with a staff member when you pay the money in.

Paying in Form

Charity Fundraising Form (this MUST be submitted at least 2 weeks in advance to the SU)

Accessing Funds in Your Budget Lines

If you wish to spend your student group funds, you can access them in two ways.

1) The SU will pay for the items/services you wish to receive when you submit a purchase order form with an invoice. Make sure you supply links to the product(s) and any design work we may need so we are able to place the order on your behalf.

2) Pay for the items yourselves and claim the money back. Submit a Student Activities Claims Form and relevant receipts to studentsunion@city.ac.uk. Remember to check with your Union staff contact that it will be reimbursed before purchasing anything over £50.

Forms for Accessing Funds

Purchase Order Form

Student Activities Claim Form

NB: Purchasing promotional materials; The Union will not reimburse or purchase any publicity materials where the designs do not adhere to requirements outlined on Marketing and Communications Resource page. Please submit your publicity designs when submitting claims forms and/or purchase order forms for any promotional material.

Budgeting

As a student group you are responsible for keeping track of your student group funds and budgeting your events well so you do not become overdrawn. Any debt occured must be paid by the end of the academic year. We advise you leave some money in your budget line for the next incoming committee. 

Here's some resources to help you track your budgets well:

Budget Line Finances Template

(Simple Event Budget Plan and Detailed Event Budget Plans can be found on the Events tab in the Resource hub)

 

Seeking Additional Funding

Some groups may wish to seek additional funding. You can do this through applying for funding through the Societies Development Fund from the Societies Board, seeking sponsorship from external companies and seeking donations from your School or external organsiations.

The funding rounds are:

Round 1: August 1 - October 2 (to be considered in Societies Board Meeting on October 9)

Round 2: October 10 - November 6 (November 13)

Round 3: November 14 - December 4 (December 11)

Round 4: December 5 - January 15 (January 22)

Round 5: January 23 - February 12 (February 19)

Round 6: February 20 - March 18 (March 25)

Here's some resources to help you with the above:

Funding Application (Societies or Media Outlets only)

Funding Criteria (Societies or Media Outlets only)

Sponsorship Guide

Sponsorship

Always get contracts checked by the SU before sending to potential sponsors and submit an income request form found in the guide above when you have secured sponsorship. We will draw an invoice for the company from this form.

Donations

Donations are when nothing is received in return for the money donated. This includes from Schools. If you advertise their courses as a thank you to the money they have donated this could be seen as the School getting something in return and would be sponsorship which is VAT applicable. Ensure nothing is given from the student group to the donor in return for their kind donation for it to be classed as a donation.

 

Understanding VAT

Get to know what income you pay VAT on and what you don't in the table below:

Income

How Does it Enter Your Budget Line?

VAT?

Memberships

Paid directly into budget line from purchase

Yes 20%

Ticket Sales

Paid directly into budget line from purchase

Yes 20%

Sponsorship

Income request form needs to be submitted

Yes 20%

Donations

Income request form needs to be submitted

No

Fundraising

Paying in form needs to be submitted along with the cash

Yes 20% Unless for Charity