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MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? • The Students’ Union is a non-profit making charity • The Union receives a grant from the University • All other funds are raised through our bars, shops & events • All money is then invested in improving the student experience including our Societies.
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MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

Mar 31, 2015

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Page 1: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

FINANCE

WHERE DOES THE MONEY COME FROM?

• The Students’ Union is a non-profit making charity

• The Union receives a grant from the University

• All other funds are raised through our bars, shops & events

• All money is then invested in improving the student experience including our Societies.

Page 2: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

INCOME

GENERATING INCOME:

• Membership Fees• Ordinary Grants• Special Grants•Sponsorship• Fundraising•Collecting

Page 3: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

INCOME

MEMBERSHIP FEES:• Set by individual Societies, you are recipient to 100% of these set fees.• Membership fees must cover any applicable membership fees to outside organisations e.g. Amnesty International/UNICEF or insurance premiums.• These are collected online through the website on joining a Society.

Page 4: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

• Income from the SU

Society Ordinary Grants

£2000 £2000

Society Special Grants

£1500 £1750 £1500 £1000 £1000 £1,250 £1,250 £500 £1250

Society Start Up Grants £600 £600 £600 £450 £450 £450 £450 £450 £450

Society Transport Subsidy

£300 £150 £120 £120 £120 £150 £120 £120

August September October November December January February March April May June July

Page 5: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

INCOME

ORDINARY GRANTS:

• These are grants provided to you automatically on the basis of your membership numbers.

• They are distributed in October and February.

Page 6: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

INCOME

SPECIAL GRANTS:• These are grants available each month that Societies can apply for.• They can be used to cover the costs of guest speakers, conferences, events you wish to attend, events you wish to hold, publicity or equipment.• In order to apply in excess of £50 you must have at least paid in £50 to your account.• In order to apply in excess of £100 you must also include a planning document for your activity.

Page 7: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

INCOME

SPONSORSHIP:• Think about what you want out of a sponsorship agreement• Think about what you are able to offer to an organisation in return• Don’t restrict yourself to purely financial benefits.• The Union must approve any proposal before it is distributed to organisations.• The Union must sign any contract of sponsorship.

Page 8: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

INCOME

FUNDRAISING:• Think about what activity specifically you are fundraising for. • Remember the Union is a charity and you must follow charitable fundraising regulations• Consider an online method such as Sponsorcraft

Page 9: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

VAT

WHEN BUDGETING:• Your Society will pay VAT on goods/services and not be able to reclaim it back.• Your Society will NOT pay VAT on any income you generate.

Page 10: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

EXPENDITURE

SPENDING FROM YOUR SOCIETY ACCOUNT:• All spending must meet the aims and objectives set out in your Society Constitution

• Spending must benefit all members

Page 11: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

EXPENDITURE

YOU NEED:

1. E-mail Expenditure Form: send to [email protected]

2. Two (2) confirmations from two committee members other than that of the person receiving the cheque

3. Receipts**Make sure the receipts are from a recognized vendor, with a VAT number. Hand written

receipts will not be accepted.

Page 12: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

Alison [email protected]

Page 13: MONEY, MONEY, MONEY FINANCE WHERE DOES THE MONEY COME FROM? The Students Union is a non-profit making charity The Union receives a grant from the University.

MONEY, MONEY, MONEY

ANY QUESTIONS?

YOU SHOULD NOW KNOW:

• What you can spend your Society funds on • How to spend from your Society account• The different ways in which you can receive funding from the Union• The different ways in which you can raise funds yourself