Society funds must be used to further -
(a) The interests, aims and objectives of the Society as written in its Constitution;
(b) The aims, objectives and rules of Goldsmiths Students’ Union;
Claiming back money from the society account
To be able to claim money, you will need all receipts and invoice forms. Bring the receipts to the Student Development Coordinator for authorisation and you can claim back from the finance office. You can have it transferred into your account or can get the money back in cash from the finance office.
If you are purchasing something that is more than £50 you will need a purchase order from the Activities Manager before you buy it, otherwise you may not be able to claim back the money.
To claim back money you will need a receipt – it can not be the credit card receipt or a print out of an Ebay page. Invoices must be printed.
You must claim back the money within 6 weeks of purchase.
You must have enough money in your society account to cover your expenses.
Reimbursements will not be authorised if the money is not in the account to cover it. There is no overdraft facility at the bank of GSU. If your society account is ‘in the red’ at the end of the year the debts will be carried over to the next year.
Only the president and treasurer of the society can authorise money to be claimed back, unless they have arranged for others to be able to do so with the Activities Manager.
If you need to get more than £500 in cash please give a weeks notice so that we can ensure we have enough in the safe.
Cash is not given without receipts – it is not given in advance of purchase.
Membership fees
Societies must decide how much they want to charge their members - £1, £3 or £5. All members must pay this subscription. Membership of a society lasts throughout the academic year and must be renewed each year. To be a society you need at least 10 members who have all paid the membership fee and filled in the membership form.
Where does my membership money go?
The membership money goes back into the society. The money from the first 10 members goes into the print budget and the money from any further members goes into the individual society’s ‘bank account’ with the Students Union.
GSU ‘bank account’
The society money must be kept in the Students Union bank account. The society code of conduct states that –
‘You must not Incur unauthorised expenditure of Union monies, or hold Club monies outside of the Union.’
There are two main reasons for this. The first is that if an individual is holding society money and loses it, the money is not insured and can not be reimbursed by the Students’ Union. The second reason is transparency – if a student asks where their membership/fundraising money goes, we need to be able to show them.
Photocopy budget
All societies have a photocopy budget and will be issued with a code for the photocopier when they are a fully registered society.
Grant/Loan applications and allocation procedures
Each society is eligible to apply for a grant or loan from a fund that is set each year by the Union Exec and allocated following applications from societies. The fund is for specific events or purchases that the society would like to make.
A Society must submit a grant application form (click here to apply). . Carefully consider what your Society needs the money for and ensure the activities you plan fulfill your aims and objectives. Please contact the Activities Manager for more details.
You can apply for a maximum of £250. If you are applying for less than £50 all you need to do is fill in the form. If you are applying for more than £50 the 2nd stage of the application process is to give a 5 minute presentation on what you would like the money for. The panel will be made up of the Activities Manager, the Societies Officer and a Sabbatical Officer. You will be sent guidance notes on what to cover but it should include -
- What the society has been doing this year, including any fundraising towards the activity the grant is for.
- How receiving the grant will benefit your society.
- A breakdown of what the money is required for.
The Activities Manager or Societies Officer will be able to help you write a proposal.
The fund is allocated by the Activities Manager and Societies Officer.
To be eligible to receive a grant your society must meet the following criteria:
• Have existed as a society for at least one full academic term.
• Been demonstrably active over the past academic term. This means that there must have been regular meetings and at least 1 event that was publicised to the wider student body (ie. not just to society members).
The money requested is subject to the following conditions:
• It must further the aims of the society.
• It must support the ethos of the Students’ Union, ie ‘…through representation we provide inclusive, accessible activities for Goldsmiths’ students’.
• There must be a clear plan to deliver on your aims and persons delegated to be responsible for ensuring these aims are met.
What the Students’ Union will not fund:
• Purchase of alcohol
• Events that are purely social, ie it should also further the aims of the society
• Personalised uniforms
Further notes:
It is preferable that the society do some fundraising to contribute towards what is planned or use a portion of their existing funds raised through previous activities or membership payments.
If you are organising a commercial/fundraising event in the stretch or the common room please ensure you email thestretch@gold.ac.uk.
Fundraising & Sponsorship
Societies should, where possible, use fundraising and sponsorship to fund their events and activities. If you are applying for a grant from the Union we will ask your society to fundraise at least some of the money. The Activities Manager and the Activities and Services Officer are here to help you with advice on how to fundraise for your society.
Ticket Sales
If you are selling tickets for a society event that cost more than £5 you will need to arrange for them to be sold by Students’ Union staff. You can not take the money and then pay it in bulk to the society account. If the tickets are under £5 you can take the money and then pay it into the account.
Carrying Money over to Next Year
If the society is continuing next year you need to notify the Activities Manager if you would like the money to be carried over to the next academic year. If we do not hear from you the money will not be carried over and the society will start from £0 in the next academic year.
Finance Office Opening Hours
9-5pm
Monday and Wednesday-Friday (not available on Tuesdays)
If you have any questions please get in contact with the Activities Manager.
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