Spending Student Group Money

In order to ensure your suppliers can receive payment on time and your budget is adhered to, our finance procedures need to be followed.

finances

Managing Club Finances

 

Preparation

  • Your Treasurer should prepare an annual budget forecasting expected costs and income.
  • Do not spend money your club does not have.
  • Read the guides on: making money as a club, securing sponsorship, and applying for the Development Fund.

What Can Society Money Be Spent On?

You may spend group funds on group activities or outings that benefit your members, such as:

 ✅External venues (e.g. for sports training or a society ball)

 ✅Equipment (e.g. games, speakers, sports equipment)

 ✅Transport (e.g. for competitions or trips)

 ✅Food and Non-Alcoholic drinks

Note: Once purchased, equipment is owned by the society not an individual.

Not Allowed:

  • Alcohol
  • Personal expenses — this is fraud and a criminal offence

Ask your Coordinator if you are unsure.

 

Making Payments

1. Confirmation of Spending

  • Before any payments are made, spending must be approved by your Coordinator.
  • Log the activity on the Activities Dashboard.

2. Making the Payment

Three methods are available:

1. Invoice:

  • Best method as funds are paid directly from your club account, and you are not out of pocket. 
  • Mandatory for large amounts. 
  • Send the supplier invoice to your Coordinator once spending has been approved.
  • Payments take at least 2 weeks to be processed and can take up to 30 days.
  • Ensure invoice details are correct and use the GSU address:

Your Club/Society Name
Greenwich Students' Union
Dreadnought Building
30 Park Row
Greenwich, London
SE10 9LS
    

2. SU Credit Card

  • Used only when invoices are unavailable.
  • Purchase is made by your Coordinator using the SU credit card, funds are taken directly from the club account.
  • Card cannot be taken off campus, used for online purchases only.

3. Reimbursement

  • For low-cost items, once spending has been approved by your Coordinator, purchase items yourself and claim the money back.
  • Any club member can submit a reimbursement request.
  • Submit a reimbursement claim via the Student Group Finance Tool (SGFT) with a clear, itemised receipt.
  • Your Treasurer or President will need to approve on the SGFT, then your Coordinator, then the SU Finance Officer.

 

 ❗Reimbursement Requirements

This criteria must be met for money to be reimbursed:

  • All spending, no matter how small, must be approved by your Coordinator beforehand
  • Related activity must be logged on the Activity Dashboard
  • Upload a clear photo of the itemised receipt on the SGFT
  • Transaction receipts without items listed will not be reimbursed
  • Receipt amount needs to match the claim request amount

Note: Reimbursement payments are made every two weeks, once approved. Allow 30 days before raising queries.

 

Treasurer Responsibilities

  • Create a budget plan for the year
  • Track income and spending throughout the year
  • Monitor member purchases
  • Approve claims via the Student Group Finance Tool

 

FAQs

Why are there so many steps to spending club money?

Misuse of funds is illegal and considered fraud.

 

How do I actually make a reimbursement claim? 

The Admin Tools Guide can be found here, with step by step instructions on how to make an online claim. 

 

Students' Union Address (for invoices)

Your Club/Society Name
Greenwich Students' Union
Dreadnought Building
30 Park Row
Greenwich, London
SE10 9LS
    

Invoice Requirements

  • Date of invoice
  • Supplier name, address, contact email & phone
  • Invoice number
  • Addressed to GSU with current staff or society Treasurer/President with club/society name
  • PO/customer number (if any)
  • Detailed description of service or product
  • VAT/Company/UTR number
  • Bank details for payment

 

 

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