Budget Planning

Effective money management is the key to running a successful club or society throughout the academic year. This guide will help you understand how to plan, manage, and monitor your finances to ensure your group thrives.

• Agree an annual budget as a committee.
• Track all income and expenses using an up-to-date spreadsheet.
• Treasurers must monitor and report financial updates at committee meetings and AGMs.
• All memberships must be requested and set up at the start of the year and purchased via the SU website. We will not be adding on or changing membership fees during the year from 2025-26 so you must decide what you need during reaffiliation or when your society is set up (if a new society). This may include annual membership, semester 1 and semester 2 memberships.
• Reach out to the Student Experience Team if you're struggling with finances or foresee difficulties.
• Avoid debt. Your club and society manage real money, and you are liable for this. We will not approve finance requests that force your club or society into debt so ensure you have the funds before agreeing payments with suppliers.

Societies often have multiple income sources, including:

• Membership and ticket sales via the SU website
• Invoices and bank transfers
• Cash, cheques, grants, and sponsorships
• Fundraising platforms like JustGiving

You must also track all expenditures, such as:

• Invoice payments
• Member reimbursements
• Charitable donations

A budget is an estimate of income and expenses over a set period. It should be:

• Based on previous years’ spending
• Adjusted as circumstances change
• Used to plan, monitor, and manage your society’s financial performance

A good budget helps you:

• Set membership prices and targets
• Track spending and income
• Identify missing funds
• Reduce financial risk

1. Use the SU Budget Template (available below).
2. Draft your budget with your committee. Include all planned events and essential costs.
3. Balance your budget—if it doesn’t balance, revise your plans.
4. Agree on the final version as a committee.
5. Be realistic and detailed—overbudgeting is better than running out of funds.

Budget Template

• Bottom-Up: Plan your activities first, then calculate the costs and required income.
• Based on Past Figures: Use last year’s data and adjust for changes in prices or participation.

• Previous year’s figures – Email us for a finance report.
• Current balance – Request this via email (the online balance you can see only updates weekly).
• Access to Excel or similar software
• A plan for the year – Include events and expected costs

• Only spend money your group has access to.
• Be transparent with members about how their fees are used.
• Ensure spending benefits the whole group.
• Do not reimburse personal or alcohol-related expenses.
• Budget for emergencies—don’t spend 100% of your funds.

• Do not assume you will receive a grant—applications are reviewed against strict criteria.
• Use membership income for core costs (e.g., facility hire, instructor fees).
• Grants are for development opportunities and unforeseen expenses.
• Provide detailed, thoughtful applications.

• Fixed Costs: Stay the same regardless of activity (e.g., room hire).
• Variable Costs: Change with participation levels (e.g., event supplies).

Understanding these helps you answer questions like: “How much will this event cost if 30 members attend?”

We’re here to support you! If you’d like us to review your budget or need assistance, please book a meeting or email the Student Experience Team.