All Club/Society Execs – and especially Treasurers – must ensure that funds:
- are used in line with the aims and objectives of the Society/Club as defined in their recognised and approved Constitution
- are used in the interests of all members of the Society/Club
- are used in a manner that represents good value for money for members
- are not used in contravention of stated SU policy or in any fashion that has the potential to bring the Society/Club, the SU or the University into disrepute
- provided to the Society/Club in the form of grants or sponsorship are used exclusively in line with the documented purpose for which they were provided
Clubs and Societies must process all transactions through the SU’s Finance Office and are not allowed to operate their own separate bank accounts - Regulation 9
The SU does not expect individuals to pay for sizeable purchases from their own funds – anything beyond nominal amounts can be paid through the SU using the Online Finance System, Money Request (bank transfer or via credit card) or Purchase Order forms to avoid Execs or other Members having to use their personal money and await reimbursement.
Use of Funds - Specific Instances
The following guidelines apply to the use of Society/Club funds within the above overarching principles. Where special circumstances apply Coordinators within Student Activities can advise – in all instances it is worth checking with your Coordinator in advance to avoid any complications.
Where a decision is required as to what constitutes “reasonable”, the nature and scale of expenditure will be considered in conjunction with the aims and objectives in the Club’s Constitution and the balance of their accounts.
If you are in any doubt about what Society/Club funds can or can’t be used for please arrange a meeting with your Coordinator in Student Activities for advice.
Society/Club funds cannot be used to purchase alcoholic drinks, except:
It is stated within a Sponsorship Agreement that a sponsor’s money can be used to fund social events or the provision of refreshments.
Where alcoholic drinks are intrinsic to the nature of the Society/Club as defined within its Constitution (Real Ale Society, Warwick Cocktail Society, etc).
As part of a ticketed event, in which alcohol spend is clarified in the event description, at the discretion of Student Activities. Please note that an event where alcohol is being sold must take place in a regulated and licensed premises.
Alcohol cannot be reimbursed if a receipt is submitted for a Dinner, only food can be if it is pre-approved.
NOTE: The limit for balls is 3 standard wine bottles per 10 people/table.
Subsidising Event Costs
Funds can be used to subsidise members’ participation at the Society's/Club’s events, providing this is within reasonable levels and maintains a sensible level of retained funds to ensure the long term sustainability of the Society/Club.
Non-members cannot be subsidised.
Club and Society Clothing
Non-personalised clothing/kit that is owned and retained by the club/society can be purchased using club/society funds. Note that this clothing must be available for use by all members.
Exec hoodies can be subsidised by a maximum of £20 per Exec member from your society funds, as long as this is approved by the Student Activities Team and your Society has sufficient funds.
Gifts for Speakers
Gifts for speakers, coaches or other volunteers may be bought, provided the cost value does not exceed £20. This is to avoid issues around payment-in-kind (and associated tax implications) and bribery legislation.
Reasonable travel (standard, not first class, etc.) and subsistence costs can be covered, provided these are agreed in advance with your Coordinator.
Alcohol cannot be purchased as a gift.
Deposits can be made for an event, once an event planning pack has been approved. Tickets do not need to be on sale before the deposit can be made, however there needs to be sufficient funds in the Society account to cover this, and if the event doesn't go ahead, the deposit cannot be reimbursed.
Deposits should be made via the SU and contracts can also only be signed by the SU.
Prizes can be made available for competitions where success is a demonstrable matter of skill rather than luck – this is what differentiates a competition from a lottery (running a lottery requires registration with Coventry council and is covered by the Gambling Act 2005). The competition prizes must be wholly funded from entry fees and sponsorship specific to the competition – Society/Club funds cannot be used to subsidise prizes. The exception to this is where a donation is freely given with the stated intent to support the running of a free to enter event, such as a quiz, and the total amount to be offered in prizes does not exceed the total amount of the donation.
Alcohol cannot be used as a prize.