Student Group Finances

Your society will be provided with a fundraising account which should be used to process all financial transactions your group makes.

We appreciate it might seems 'faster' or 'easier' to do things in other ways, but as a business with audited accounts we have to be able to show all income and outgoings for all areas of the Students' Union.

This means all tickets, merch and memberships need to be bought via our website, or using another approved method. If there are other platforms you're keen to use, speak to your coordinator who will be able to establish if it's possible to do so.

Any society making transactions in other ways, or who are using personal bank accounts to process society funds, are liable to being suspended immediately and will be subject to the Union's disciplinary process.

There are three main ways you can buy items for your society.

Making the purchase yourself

For low-value items, you can make the purchase yourself and submit a reimbursement request. We reccommend you don't use this process for larger amounts of money which could leave you out of pocket.

Purchasing via your coordinator

Your coordinator can make the purchase for you and take the money directly from your account. This is prefereable for low to mid-range purchases from companies like Amazon. We also have an Amazon Business account which makes purchases easier.

Invoicing

If you're buying more expensive items, or a regular supplier or contracter is billing you for their services, they'll likely want to invoice you. Invoices should be addresed to the society and processed through the Student Group Finance module. More detail can be found on the dedicated page on the Toolkit.

To make a reimbursement claim for items you have bought for your society, or to process an invoice, you should refer to the information on the dedicated webpage.

BCUSU have bought a number of Sum Up card reader's that we can loan to societies as an alternative way to take payments in certain circumstances.

These can be booked through our Reception Team, giving details of the date and time of your event as well as letting them know when you'd like to collect the machine.

Any society wishing to use the machine will need to have an account set up for them so please factor this into the booking process. One member of your team will also need to download the Sum Up app (Android/iOS) to their device.

NB: For each transaction made using the Sum Up card reader, there will be a charge of 2%.

All of our societies are primarily self-funded. This means that the money they use to cover running costs is generated through membership purchases and fundraising efforts.

However, every year the Activities and Representation Team have funds to support affiliated Student Groups in their development. This money is awarded on a case-by-case basis to help cover expenses including event costs, campaigns, trips, equipment and more.

It is important that you read through the funding guidelines carefully. When you're ready, you can submit an application.

Any affiliated society is able to get sponsorship for all, or part, of their activities. This sponsorship can be:

• Financial 
  Where an organisation offers money for a society fulfilling a particular requirement. This could be displaying a logo or holding a specified number of events at their premises.
   
• In-kind
  Where a company provides goods or services instead of money. This could take the form of branded clothing or specialist kit.
   
• Promotional 
  Where an organisation with a proven 'footprint', particularly on social media, agree to advertise your society (or a specific element or activity).

In each instance, as a committee you're welcome to explore opportunities with companies who approach you, or businesses you seek out yourselves.

However, PLEASE DO NOT AGREE TO ANY ARRANGEMENT without first discussing the offer with your coorinator.

Your coordinator will work with you to complete a simple sponsorship form which will then be authorised by our Head of Central Services and Union President.