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Treasurer Training. Picture?. Participate to general meetings and report the expenses and income from activities. Collect the money from members for the events that have a fee.

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communication

Participate to general meetings and report the expenses and income from activities.

  • Collect the money from members for the events that have a fee.
  • At the end of the year you have to make a report with all the income and the way those money were spent and to send it to all members of the society.

Communication

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annual budgets

Each society will get an annual budget from the Guild

  • Meet with your committee to discuss plans – talk to last year’s committee for advice!!
  • The treasurer must complete the budget form by the 3rd term deadline – look for email
  • They must include ALL predicted expenses and incomes, making sure not to overestimate or underestimate
  • If, during the year, they incur any additional costs, they must complete a supplementary budget form

Annual Budgets

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union fund vs club fund
Union Fund vs Club Fund
  • Union Fund – Can only be spent on approved budgeted costs.
  • Union Fund – Made up from membership money + any grant given by the Societies Guild
  • Club Fund – Can be spent on anything other that alcohol, anything illegal and only if it benefits all members. i.e. no exec hoodies.
  • Club Fund – Made up from unspent membership money from previous year + any money fundraised by society.
weekly reports

You will receive an weekly report with everything that your society owns and has spent.

  • Keep track of the expenses and make sure everything is alright

Weekly Reports

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claiming back expenses

Claiming back expenses

  • All the expenses are paid from your money and after you claim them back.
  • You can only claim the expenses that are approved in your budget from your Union fund
  • Expenses not in budget come from Club Fund but must benefit all members!
  • Treasurer’s must sign all expenses
  • If you are claiming back your own expenses you need the president to sign up the forms.
  • http://www.essexstudent.com/pageassets/newsocguild/help/How-to-fill-an-expenses-claim-form.pdf

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VAT
  • Societies are subject to VAT
  • This means if membership price is £5 the society will receive £4.33
  • You can work out what the society will receive by dividing by 1.2 i.e. £5/1.2=£4.33
  • They can also claim back VAT on expenses if they have a VAT receipt.
external speakers

You are not allowed to use the society’s funds to pay for external speakers.

  • However, you are allowed to pay for his/her transportation and other expenses such as printing, food.
  • Refunding for the members of the society that are driving (to bring the external speaker, guest) is available and it is 25p per mile.

External Speakers

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sponsorship
Sponsorship
  • Societies are allowed to seek external sponsorships
  • HOWEVER: the companies cannot be in direct competition with the SU, e.g. Nandos
  • Societies CANNOT sign a contract on behalf of their society – this is FRAUD, they need to get contract sent to Rae
bank accounts
Bank Accounts
  • It is ILLEGAL for societies to open a separate bank account!
  • All incomings and outgoings MUST be paid in their societies account
  • No charity money should go into their account but go through RAG account
contacts
Contacts

SAD Office – sadteam@essex.ac.uk

Michelina Chindiya – mchind@essex.ac.uk