1. UC Induction Course 2004 1 Union Council, the 10 th Session Induction Course 2004 Auditing Commission (AC) 核數委員會

2. UC Induction Course 20042 Content Roles and Responsibilities of AC General knowledge of Financial Reports Preparation of Function Financial Report Preparation of Report on Purchase Assets Preparation of Interim & Final Financial Report General Reminders

3. UC Induction Course 2004 3 Roles and Responsibilities of The Auditing Commission

4. UC Induction Course 20044 Roles & Responsibilities of AC 目的： 監察及輔導學生會組織財務狀況、確保學 生會組織財政健康，以保障學生會會員利 益。  核實各學生會組織財政報告  核實各學生會組織的資產及存貨  向評議會作出有關學生會組織帳目及財政 政報告運作的建議

5. UC Induction Course 20045 Financial Reports 行政收支活動收支購買固定資產 全年財政預算 - 行政收支部分 活動預算及 活動申請表 全年財政預算 - 購買固定資產部分 及購買固定資產申請書 中期財政報告 (Interim) 終期財政報告 (Final Financial Report) 活動財政報告 (Function Financial Report) 購買資產財政報告

6. UC Induction Course 2004 6 Preparation of Function Financial Report

7. UC Induction Course 20047 Function Financial Report Without FundingWith Funding Copy of Function Form (with the approved Budget) 1 1 Receipt Memo & RecordDepends Copy of Memo from SAODepends Payment Voucher & Record 11 Cash Book 11 Function Financial Report (with original copy) 45

8. UC Induction Course 20048 Function Financial Report – Receipt ReceiptSupporting Document Subsidy from SU/Subsidy - SAO FundingSAO Memo SponsorshipLetter confirming the amount of sponsorship Admission FeeReceipt Book issued by SU SalesReceipt Book issued by SU

9. UC Induction Course 20049 Attached every supporting document to a receipt memo Fill in all details of the receipt memo Reference the Receipt Memo by: - 1 st Function listed in Master Budget : BR - 2 nd Function listed in Master Budget: CR Function Financial Report – Receipt Memo

10. UC Induction Course 200410 Reminders on using Receipt Book Attach a receipt memo to each Receipt Book Each used receipt in the Receipt Book should be stamped and signed freshly Void receipt should be accompanied by the original receipt Indicate on the cover of the Receipt Book the computation of the total amount of receipts for that Receipt Book Function Financial Report – Receipt Memo

11. UC Induction Course 200411 Function Financial Report – Receipt Memo

12. UC Induction Course 200412 Function Financial Report – Receipt Record Enter details of each receipt except for the “Amount confirmed by AC” Hand in a photocopy version with the financial report if Sponsorship or Admission Fee were received (original copy kept by the society) The audited receipt record will be returned to the society with the audited financial report

13. UC Induction Course 200413 Function Financial Report – Receipt Record

14. UC Induction Course 200414 Function Financial Report – Payment Voucher Attach each supporting document to one payment voucher Determine the usage of the payment, then enter the “Name of Account” by the respective account name in the Budget Reference the Payment Voucher by: - General Adm Expenses : APXXX - 1 st Function listed in Master Budget : BPXXX - 2 nd Function listed in Master Budget: CPXXX “Payer” and the “authorized person” should not be the same person

15. UC Induction Course 200415 Function Financial Report – Payment Voucher

16. UC Induction Course 200416 Function Financial Report – Payment Record Fill in the record each time a payment has been made (note: the no. of rows entered = the no. of payment voucher used) Enter details of each payment except “Amount authorized by AC” Hand in a photocopy version to AC if expenses are incurred in organizing the function (original copy kept by the society) The audited payment record will be returned to the society with the audited financial report

17. UC Induction Course 200417 Function Financial Report – Payment Record

18. UC Induction Course 200418 Function Financial Report – Cash Book Cash book is a summary of all Receipt Memo and Payment Voucher Enter all details of the RM and PV Enter each receipt once, each payment twice in the cash book The right hand side of the cash book helps to compute the total expenses incurred for each account

19. UC Induction Course 200419 Function Financial Report – Cash Book

20. UC Induction Course 200420 Function Financial Report Copy the budgeted amount from the Approved Function Form to the “Budgeted amount” column in the financial report Enter the actual amount incurred by summing up the amount incurred for each account in the cash book Enter the budgeted and actual no. of participants (if applicable) Do not fill in the last column “authorized amount by AC” and the “for office use” box The preparer must be the financial secretary of the Society/function.

21. UC Induction Course 200421 Function Financial Report

22. UC Induction Course 200422 Function Financial Report

23. UC Induction Course 2004 23 Preparation of Report on Purchase Assets

24. UC Induction Course 200424 Report on Purchase Assets Documents submitted: A Stamped copy of the Application for Purchase Asset Form One original and one photocopy version of the Report on Purchase Asset Payment voucher(s) and supporting document(s)

25. UC Induction Course 200425 Report on Purchase Assets Fill in the budgeted amount according to the approved amount in the master budget The report is applicable for more than one purchase Deadline of submission: two weeks after the last purchase

26. UC Induction Course 200426 Report on Purchase Assets

27. UC Induction Course 2004 27 Preparation of Interim & Final Financial Report

28. UC Induction Course 200428 Interim & Final Financial Report InterimFinal Copy of Master Budget 11 Payment Voucher & Record 11 General Cash Book 11 Asset Record Sheet 22 Stock Record Sheet 11 Copy of Bank Pass Book -1 Function receipt and payment record -2 Financial Report (with original copy) 44

29. UC Induction Course 200429 Interim & Final Financial Report – Payment Voucher & Record Expenses should be incurred for general and administrative purposes only Do not fill in functional expenses Refer to slide 14 & 16 for illustration

30. UC Induction Course 200430 Interim & Final Financial Report – General Cash Book Only general and administrative expenses are to be filled in Refer to slide 18 for illustration

31. UC Induction Course 200431 Interim & Final Financial Report – Asset Record Sheet Asset Record Sheet shows the amounts of assets possess by the society as at the year-end / half-year-end date Assign an item no. to each type of asset Fill in the “Remark” column if the assets are lost or damaged

32. UC Induction Course 200432 Interim & Final Financial Report – Asset Record Sheet

33. UC Induction Course 200433 Interim & Final Financial Report – Stock Record Sheet Stock Record Sheet shows the amounts of stocks possess by the society as at the year-end / half-year-end date Prepare one stock record sheet for each kind of stock

34. UC Induction Course 200434 Interim & Final Financial Report – Stock Record Sheet

35. UC Induction Course 200435 Interim Financial Report (General Administration) Use the same form as Function Financial Report For the “Name of Function”, fill in “General Administration” Record only expenses incurred for general and administrative purposes

36. UC Induction Course 200436 Interim Financial Report (General Administration)

37. UC Induction Course 200437 Final Financial Report Fill in “surplus”, “subsidy claimed for functions” and “deficit” in the “Actual Amount” column from the official use boxes of all audited function financial reports Purchase Assets are to be regarded as functions, fill in the amount approved from the audited Report on Purchase Assets No funding/sponsorship/admission fee is too be filled in

38. UC Induction Course 200438 Final Financial Report Fill in the “Amount approved by AC at Interim” for the general expenses from the Audited Interim Financial Report DO NOT fill in the “Amount finalized by AC” column

39. UC Induction Course 200439 Final Financial Report Hand in all function payment and receipt records (both original and photocopy) Hand in a copy of the bank pass book, indicate on the copy the amount of opening and closing bank balances for the respective session Latest version: 02.2004

40. UC Induction Course 200440 Final Financial Report

41. UC Induction Course 200441 Final Financial Report

42. UC Induction Course 2004 42 General Reminders

43. UC Induction Course 200443 General Reminders Deadlines for Submission of Reports ReportDeadline Function21 Days after Function Date InterimOne Month after half-yr ends FinalOne Month after year ends Purchase AssetsTwo Weeks after last purchase

44. UC Induction Course 200444 General Reminders 1. Stick to the budget 2. Submit financial reports with approved budgets 3. Hand in reports on time 4. Original copy must be submitted 5. Check if all documents needed have been included before submission 6. Prepare with the most up-to-date formats, Auditing Commission reserves the rights to reject documents prepared with the old format

45. UC Induction Course 200445 7.Keep all function financial reports, receipt and payment records properly 8.All 機單 must bear fresh chop 9.All receipts must bear fresh chop and approved signature 10.Keep the Bank Pass Book/Bank statement properly throughout the year 11.All general expenses incurred before the half-year-end date (interim) must be claimed when Interim financial report was submitted. The Auditing Commission will NOT approve any expenses incurred before Interim date to be claimed when Final Financial Report was submitted. General Reminders

46. UC Induction Course 2004 46 Special Reminders for O’Camp 2004 Refer to supplementary notes

47. UC Induction Course 2004 47 Our Contact Room C324