Society/Club Finances and Funding

Here you can find everything you need to know to manage your society or club’s finances effectively!

If you’re confused or have any further questions, drop the SU an email.

Activities | su.activities@keele.ac.uk

Athletics Union (AU) | su.athleticunion@keele.ac.uk

Click any of the headers to go direct to each section: 

Managing Money | Spending Money | Making Money

 

Apply for money here

Managing your Club/Society Money

As an affiliated Club/Society you will get access to a bank account within KeeleSU to make managing your group's money more easily. All the money collected from membership fees at the sign-up fair or online through your club/society web page will automatically transfer into this account. The President/Chair/Club Captain and Treasurer have access to spend money from this account, but any committee member can pay in and you can also use this account to store donations or sponsorship money.

Finance accounts stay open as long as societies are active if your society is inactive (doesn't put any money in or take money out) for three years, the account will be shut down and transferred to a big pot of money for student groups to bid for.

How do I know how much money is in my club/society account currently?

The quickest way is to email the Activities or AU departments. They will send you a PDF of your account, a finance statement like you would receive for a personal bank account. If you want a copy printed out you can also drop by their offices or the Finance office, they can be found on the top floor of the Students’ Union or the Sports Centre.

I'm not sure how to read my account statement...

There’s an example statement shown below so you know what to expect.  It’s a little difficult to get used to at first but once you’ve got the hang of it, you’ll find them useful when budgeting.  The statement shows the outgoings and incomings so can monitor what’s coming in and out of the account.

Reading Accounting Statement

Key

GREY: Date RED: The amount of money that has come out of your club/society account
YELLOW: The amount of money that has been deposited into your club/society account PINK: Your total balance available to use

 

How do I budget effectively for my club/society?

The best thing to do is think about all of the events or campaigns you want to run for the year and how much you want to spend on each of them. Look at your most recent account statement to see how much money you’ve got to play with, have a look at what the club/society spent in previous years and also take into consideration whether you could get any income from elsewhere: whether that’s fundraising, from your members, the SU, the university or external sponsors.


You can download an example budget sheet to fill out here.

 

Spending Money

How do I spend money from my club/society account?

We usually ask students to pay for expenses themselves, keep a receipt and then the society/club can reimburse them. Alternatively, you can ask a supplier for an invoice, and SU Finance will pay them directly using your club society/funds.  If none of your committee members can afford to pay themselves, we can arrange a credit card or PayPal payment online. 
 
All club and society expenses and payments have not been moved online; whether you want to claim back on purchases you've made for your club/society or need to pay a company, charity or organisation.
 

Check out our step-by-step guide on how to use the new system by clicking here!

 

Is there anything I can’t purchase or claim for?

Yes! There are a few important things to remember …

  • KeeleSU cannot make up a payment for anything if your club/society as insufficient funds to pay for an expense.
  • KeeleSU cannot receive or use any funds held by KeeleSU for any of the following:
    • Any activity prejudicial to equal opportunities
    • Any party political activity
    • Any activity in breach of the law, of Keele University Policy, or of the KeeleSU Constitution, Bye-Laws or Policy.
    • Any activity that excludes any current member of the society.
    • Any alcohol*.

*Certain circumstances may be permitted but this will be dealt with on a case by case basis by the relevant Sabbatical officers.

 

Making Money

If you club or society need to invoice a company, complete the form below and hand in to SU Finance Office who will produce the invoice on your behalf. Ensure you get the relevant signatures before handing into SU Finance Office.

Download the Invoice Request Form here.