Club Sport Finance

1 2 3 4 5 Sport Finance Title Club Sport accounts – Grant and Subs Claiming process 3 Potential Income 4 Role of the Treasurer 5 Key Considerations for the club

Accounts Grant Account Subs Account Funding provided by SU for; Coaching Facilities Affiliations Entries Refs/Umpires Travel Equipment This needs to be spent on what it has been allocated for above Funding received through; Club memberships Sponsorship Donations Charity events Collections This can be spent on whatever the club feels is suitable

Grant Accounts Coaching Facilities – these funds are for your training and match facilities, and have already been accounted for by Club Sport when bookings made. Affiliations – for any necessary affiliations that your club/sport has to adhere to – e.g. AFA (Amateur Football Association). This differs from club to club. Entries – for BUCS and/or LUSL – one entry per team is funded by Club Sport, other entries are funded by the club. Refs/Umpires Travel Equipment

Spending You will only be able to claim money back if the club has sufficient funds in its account, and a valid receipt can be provided, so check before making a purchase. A claim form needs to be completed correctly with all details specified where requested. Forms can be handed in at one of the 3 reception points – Qmotion, The Hub, The Box Office. Claim forms need to be submitted by Monday, for collection on Tuesday morning, to be processed and taken to finance on Tuesday afternoon. Make sure that you get a copy of your form with a date of submission for your records. Expect payment within 28 days from the Tuesday they will have been collected. Claim forms can be collected from each of the receptions, or downloaded from the Club Sport website under ‘expenses/payment request form’.

Claims Up to £50 We have recently introduced a method of receiving your funds back in a more timely manner, if the claim is under £50. You need to do everything as stated on the previous slide, handing the completed form in on a Monday for collection on Tuesday. You will then receive an email from CK stating the date that you will be able to collect your money in cash from The Hub. You will then need to take your Student ID to The Hub and sign for your money. This will be usually be the following week so reduces the time waiting for your claims significantly. If this process is not suitable please state this on the claim form.

Potential Income This can include Sponsorships, Fundraising, any other reimbursements to the club. Invoices need to be raised by finance for Sponsorship monies so contact CK with relevant information – completing a Students Groups Income Request Form. Bank Transfer to Queen Mary Students Union, (BARCLAYS) Sort code 20-57-06 / Account no 80737143 When paying money into the Queen Mary Students Union account ensure have enough info on the payment – which club/what it is for? Inform CK in an email that this will be happening so I can contact finance and let me know to be expecting the money, and where it needs to go to – Grant or Subs account (usually this will be subs account) Cheques – payable to QMSU Through the website – memberships, tickets, products

Role of the Treasurer Be aware of what the club has been awarded within their grant funding, and what is in the subs account from the previous year – check this with CK as it may differ from what you have been told in a handover. Keep a record of your club’s income and expenditure in both accounts – we recommend that you keep a separate spreadsheet for each account. Ensure that all expense claims come through the treasurer for signing off. Update spreadsheets on a regular basis - once a week should be sufficient. We recommend that the treasurer sends through the updated spreadsheets once a month to Club Sport, allowing for any differences to be picked up early. Complete any Paying out and Income Request forms for the club. Immediately bank any collected cash at The Hub or Box Office ASAP – do not keep this money at home!

Key considerations All treasurers should know what is in their respective accounts at all times. Be aware there is a delay in finance posting transactions, so what I look at will be around 2-3 weeks behind. Ensure that you plan for all costs for the year with your Committee so you have enough funds to pay for everything required. Claims or invoices will not be authorised if there are not sufficient funds available. Remember – no debts are allowed within either of the accounts. Look for further funding opportunities where possible – speak to your NGB’s, local businesses for Sponsorship, volunteer at events. If you have any concerns or questions please just ask.