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Essentials

 
  • All club funds and assets belong to the club, not to any individual members.
  • All club funds, whether allocated by SSAF or raised through other means, must be spent in pursuit of the club’s aims and objectives.
  • Funding applications must be submitted and approved before any club funding is spent.
  • Clubs must create a designated bank account for all funding, with at least two signatories from the Executive.
  • All records of income and expenditure must be kept.
  • The financial year, for club reporting purposes, is January 1 - December 31.

Although the Treasurer is responsible for general financial oversight, the whole of the Executive Committee is ultimately responsible for the financial management of the club. Remember that club funds and assets belong to the club as a whole, so they should never be distributed to individual members – even Executives.


Throughout the year, the Club Treasurer must keep a record of all receipts, tax invoices, and bank statements, and keep a record of all finances in the clubs Financial Journal (see the Financial Journal Template).

Your club can apply for up to $2000 per year SSAF funding to spend on club events, activities and purchases, using our Funding Application form (included in the Events Application form). Spending must be broken down into student and non-student attendees, to ensure SSAF money is spent on students only.

UNSA will reimburse clubs only under certain circumstances – for example: if your club were to host a movie and pizza night and you had 15 club members register and 20 showed up, UNSA may reimburse you for the cost of buying extra pizza if you have all the correct receipts.

Please don’t expect UNSA to reimburse you – reimbursement is done on case by case basis.

In order to receive SSAF funding, your President and Treasurer will both need to complete an online Generation Governance course (and send your certificates through to unsa-clubs@newcastle.edu.au ), and you’ll also need to open a bank account in the club’s name where funding can be deposited.


SETTING UP A BANK ACCOUNT

 
  1. At your IGM or AGM, discuss which bank you will set up an account with and decide on the bank account name. The bank account must be opened under the clubs name – it cannot be opened under someone’s name e.g. The Floral Club is allowed, John Smith’s Bank Account is not allowed.
     
  2. When setting up the account, make sure you state what the account will be used for (e.g. to hold money that has been raised at fundraisers, to collect membership fees, or to pay for events).
     
  3. State who the signatories will be (one of whom must be the Treasurer), and how many you will need to make transactions (this must be at least two Executive Members).
     
  4. Bring all of these documents to the bank, along with 100 points of ID for the signatories. This is usually photo ID such as a drivers’ license, passport, bank cards or a proof of address.
UNSA welcomes and encourages your club to raise funds in other ways! This can be through fundraising, sponsorship or even charging for events. It is up to the club whether you choose to charge a membership fee or not, but this must apply equally to all members, and must not exceed $30. If you want to charge a membership fee, please specify this in your affiliation form.


Click below for templates.



 

Click below to read the full chapter in the guidelines.