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Finance Training

Finance Training. Holly May Roberts, Societies and Sports Manager Club Training Day 27 April, 2013. What is a Club Treasurer?. Challenging role in a committee Gives great employability experience and transferable skills Main Responsibilities:

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Finance Training

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  1. FinanceTraining Holly May Roberts, Societies and Sports Manager Club Training Day 27 April, 2013

  2. What is a Club Treasurer? • Challenging role in a committee • Gives great employability experience and transferable skills • Main Responsibilities: • Main person responsible for managing the finances of your club. • Ensure that the committee are kept up to date with the financial state of the club and consulted on all financial decisions. • The treasurer must not be a final year student. • The clubmust not hold external bank accounts.

  3. General Information • We offer a wide range of services to clubs:

  4. Private and Grant Accounts • Grant Account: accessible funds • Money available from the Students’ Union for day to day sporting activity (equipment, transport, kit etc) • Needs to be spent first • Private Account • Membership money, fundraising, sponsorship. • Can be spent on anything the committee decides (within reason!) • To get your account codes email sufinance@nottingham.ac.uk

  5. The Students’ Union Finance Office • Used to pay money in, claim expenses and get invoices paid. • On B Floor in the Portland Building • Drop Box available for paperwork/ requests. • General Enquiries email: sufinance@nottingham.ac.uk

  6. The University Finance Office • Portland Building E E123 floor • Take BUCS claims forms here. • Always come to Lynn in the Societies and Sports Office to fill in this claim form. • You MUST have a receipt attached. • For BUCS related expenditure. • Accommodation, travel etc.

  7. BUCS Claim form • Need photo ID • Come to the Sports Support Staff in the Societies and Sports Office to fill in form

  8. Depositing money into the Private Account • Fundraising, petty cash from subs etc. • To be depositing into the private account using the cash machine in the Finance Office. • Get help the first time you use the machine. • Contact last year’s Treasurer for password. • Always keep a record of what you have put in and keep receipts! • Good idea to write on the reciept! • Do not keep money lying around- you do not want to be responsible for lost cash. Your money is not insured if it is not banked in the Union.

  9. Getting Money Out: Expenses Claim Form- to your bank, not cash • One of the most used forms • Used to claim back expenses paid for by members of the committee/ club. • MUST have a valid receipt (apart from fuel) • Best to fill in on the computer • Can send by email but will need scanned receipts and signatures. • Fill in the form as fully as possible. • Always save copies and keep a record of everything. • If the Treasurer is claiming the money back it MUST be signed by another committee member.

  10. Getting Money Out: Other Forms • Credit Card Request Form • Can only use this during Finance Office opening hours. • Fill the form in and use the Card. • ONLY to be used in exceptional circumstances. • Purchase Order Form • To be used when ordering kit from Kukri • MUST do this during Finance Office hours • A guide to fill in forms will be available

  11. Getting Money Out: Paying for things by BACS • BACS is an electronic payment of money • BACS is the preferred option to pay for things • If you do pay cash in hand for something you MUST get a receipt. You MUST have a paper trail. • When purchasing anything (external facilities, equipment etc) always remember to get an invoice sent to your pigeonholein the Societies and Sports Office. • Asking for an email invoice is quicker and easier.

  12. Getting Money Out: Paying for things by BACS • Invoice must be addressed to the Students’ Union with reference to your club. • Invoices must be signed by the Treasurer, dated and the right code written. • Take the invoice to the Finance Office or send a scanned signed copy to SUPL&POqueries@nottingham.ac.uk • Invoices will be paid by the payment date (not necessarily straight away). • BACS payments are every Thursday.

  13. Paying for Officials

  14. Other Forms • Statement Request Form • To find out how much you have in each account. • The YTD (year to date) Balance on Grant Account figure is the amount of grant spent, not how much you have left. • The YTD Balance for your Private account should read (-). If it reads (+) then you have overspent. • Keep looking at the Statement User guide for information. • Easiest way is to Email: SUAccountRequest@Nottingham.ac.uk for statement requests

  15. Other Forms • Transfer Request form • Used to transfer money to another Students’ Union account (Club/ Society/ Department) • Forms found in the Finance Office • Paying in Form • Used for cheques only • To bank money into your Private account

  16. Things you need to know • BUCS Transport gets paid by the University (and normally ordered by the University). • Other transport costs will be paid out of your grant or private account. • All other BUCS costs currently get paid by the University up to a certain amount. • Always ask Lynn.

  17. Coach’s Forum • Thursday 2nd May • 18:30 • HighfieldsPavillion

  18. Keeping a Record of your Finances • Always a good idea to use your own accounts sheet • Important that you always know the financial activity of your group. • Look at the statements that the Finance Office give. If you see a problem with these and the Finance Office can’t answer your question, go to your Development Coordinator.

  19. Tips and Hints • Email angela.lee@nottingham.ac.uk to sell stash, tickets and equipment online. • Easy way to collect money off members and students. • You as a Treasurer don’t have to worry about handling cash- the money goes straight into your private account. • ALWAYS keep a record of who has ordered, their sizes and how much they have paid etc. • ALWAYS make sure money is paid for up front before ordering kit (even if this is a deposit)

  20. Tips and Hints • Use the Drop Box in the Treasury for invoice payments, statement requests and transfer requests. • Keep an up to date account of everything and present a report of the club’s accounts at every committee meeting. • Keep your committee involved in all decisions. • If you run into financial trouble: Don’t worry! Come and see your Development Coordinator or myself as soon as you can. • We can work any problem out together.

  21. Thank you!

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