About Your Group's Accounts
Each society has one account (Generated) and sports clubs have two accounts (Budget and Generated), all of which are held within the Union.
External bank accounts are not permitted. Any spending from either of your group's accounts must be pre-approved and reasonable estimated costs provided.
Generated Account (Societies and Sports Clubs)
This is the ‘fun’ account. There are fewer restrictions on what can be spent from this account; however money definitely cannot be spent on alcohol.
The money in this account continues year to year, and can be added to by external sponsorship and fundraising. Money from any products/tickets on sale on your SUUG webpage will be paid into this account.
For a society, all of your membership fee is paid into this account. For sports clubs, part of your membership will be paid into this account.
The Union does not put any Union Sponsorship into generated accounts, but does have the Development Funds which can be applied to for help with costs of activities.
Budget Account (Sports Clubs only)
This is where costs for your ‘core activities’ should come from. The costs of ‘core activities’ are the costs of getting your team onto the pitch and playing your fixtures.
Part of your membership money is paid into this account, along with funding from the Students Union. If you do not spend your Student Union funding within the academic year then it does not carry over to the next year.