Society Finances 🤑
Your treasurer is responsible for the handling and maintenance of the Society’s funds. In addition, your treasurer will be expected at certain points in the year to produce a summary of the Society’s accounts to the Students Association for auditing. Treasurers will also be required to present the Society’s financial accounts at the AGM.
Money In
When a society receives money they wish to deposit into the SA to be added to their funds from for items such as ticket sales, hoodies and bake sales the treasurer must complete the Money-in Form.
Money Out
If you wish to make or have already made a purchase that will use funds from your society you will need to complete a Money-Out Form.
Receipts & Invoices
The treasurer must ensure that all Society expenditure is correctly accounted for. All receipts and invoices must be kept safe. No reimbursements or payments should be authorised without proof of purchase. All receipts, invoices and proof of purchase must be sent to societies@abertay.ac.uk to accompany completion of the form
Grant applications
All societies will be eligible to apply for the Societies Grant. Societies with a balance of over ÂŁ200 will have to show how the extra funds will be spent alongside their balance before receiving an award. A grant application form is available in the committee hub. Once a grant application is submitted, a request for a panel will be called by the Vice President.
A grant application panel will be made up of:
- One member of Society Council (not belonging to the Society applying for the grant)
- The Vice President
- One Students Association staff member
If approved, the Society will have access to the funds and be responsible for managing the fund in line with the submitted budget; this will include submitting receipts of purchases. Balances at the end of the year
Societies cannot build up a large amount of funds without a clear purpose for planned activities. This will be overseen by SA staff as part of the end of year auditing and discussed with the treasurer.
Activities
We support Raising and Giving through societies, but you must comply with Charity Regulations when doing so. If you’re thinking of raising money for another organisation, please come and speak to us.
Societies must inform the SA in a reasonable amount of time if you are planning any social /ticketed events such as conferences, balls, ceilidhs, dinner dances, etc. This is to ensure planning and budgeting is fully considered and compliant.
You must give us sufficient notice before your event. As a guideline, you should tell us at least two months before your event, but a longer notice may be required for more complex events.
If insufficient notice is given for your event, we may not be able to support your event or grant access to funds. You will be asked to provide an event proposal that will include a full project plan, timeline and budget for the event. Help and guidance are available by contacting societies@abertay.ac.uk.
Whilst we fully encourage you to organise events with guest speakers, all external speakers must be approved by the University before speaking at your event. Please see the Universities external speaker policy found on their website.
Any equipment bought by societies remains, at all times, the property of the Student’s Association. Therefore, you should maintain an inventory of equipment that has been bought for your Society to use. All Society inventories should be stored in the Society Storeroom. Our insurance will not cover Society items that are not stored in the Society store.
Each Society has a box (labelled) in the Society store. If you need additional storage, please contact societies@abertay.ac.uk. No food or drink is to be stored in the storeroom. All refreshments bought for Society events must be consumed at your event or taken home by members.
