Nights away Session 8 cambridgeshire adult learning

finance

Key objectives Undertake the appropriate administration before, during and after camps and residential experiences. Prepare and manage accurate budgets for camps and residential experiences. Describe how camp fees may be calculated and explain possible payment schemes.

Run a camp bank. List the rules of the association, as stated in POR, which apply to finances at camp. Describe a suitable system for the administration of finances at camp. Describe methods by which young people who cannot afford to pay for a camp might be able to be helped to attend. Describe a method by which financial information might be published for use of the interested parties.

Rules for handling money No money should be processed through a private account. It is permissible to make legitimate purchases and then claim back the cost. Bank accounts and cheques must have more than one signature.

budgets Identify all the sources of expenditure. Obtain costs from campsite and activities and so on. Allow a small amount for contingency funds. Assume a realistic number of people will attend the residential experience

task In your groups discuss the following items: make a checklist of major budget areas to consider when drawing up a budget for a camp.

Possible sources of expenditure Transport/travel visits depreciation of equipment recce visit contingency fund food site fees training Fuel (gaz etc) activities equipment activities equipment (hire) insurance administration prizes and badges

benefits It allows everyone to know in advance how much it will cost. It helps identify expensive areas. It enables event leader to judge how finances are going during the event

task Discuss the different ways in which the leaders might handle the spending money that young people will bring on camp ( consider all the sections). For example, how much can be brought to camp? Who looks after the money? Do you set a limit and at what level? Should you advice on what they should buy

Hardship fund A loan from the group. Part payment or full payment by helping at fundraising events. Camp bank scheme. General fund raising

Camp bank It enables adults to hold money for young people whilst they are attending the event and set a limit for the amount of money that might be taken with them. It enables people to pay for their fees in installments that suit them over a longer period.

task What should the approach be to any left over funds? Should it be returned to the parents or put into the section/group funds? What is the best way of agreeing this?

Handling money Before the event: keep careful records of all income received (camp fees etc.). Particularly where payment is made in stages.

Handling money During the event: keep a note of all expenditure, together with receipts (it can be helpful to cross reference both). It can be convenient to clear some expenses (such as food) by credit card where a cheque will only be accepted when it is supported by a cheque guarantee card

Handling money After the event: settle all accounts by cheque - recording each in your cash book/ledger produce a final balance sheet, clearly showing both income and major areas of expenditure. Arrange for the group treasurer to check the balance sheet and audit the accounts. For some major residential events, it may be useful to publish the balance sheet, so that families can see how the camp fee was spent