Student Group Finance

Understanding your Student Group’s finances is key to your success throughout the academic year.

The Treasurer is the primary lead for the financial management of your Student Group, however it is the responsibility of all Committee Members to be aware of the Student Group’s finances.

Click here to read more about Student Group Financial Management, including further guidance on:

Your Student Group’s Funding Account
Expenditure and Income
Raising Money for your Student Group
Raising Money for Charity
Practicing Successful Financial Management in Your Committee
Making your Experience Transferable

Find our Finance Documentation Below

Booking the SUMUP Card Reader

Why?

As a Students’ Union, we have a ‘SUMUP’ Card Reader that we can rent to Student Groups. This can be booked through the Event Notification Form. We can only book the card reader out to one Student Group a day so submit your form early to avoid disappointment!

Please Note: For each transaction made using the SUMUP Card Reader there will be a charge of 2%.

Resource(s)

Event Notification Form

Notifying the Students' Union of Charity Fundraising Donations

When?

Straight after completing your charity fundraising event

Why?

The Students’ Union itself is a registered charity, and as such, all affiliated Student Groups are part of the registered charity. This means that all money that is fundraised for charity must be banked through the SU in order to comply with UK Charity Law. This applies for all Student Groups all year round, including out-of-term time.

After Submission:

We use this notification to donate funds to your chosen charity and to add them to the RAG totaliser for the year.

Resource(s)

Charity Fundraising Donation Form

Applying for Student Group Grant Funding

When?

Applications are taken at any time but reviewed once a month.

What?

Every year, the SU has funds to support affiliated Student Groups in their development, and achieving their constitutional aims and objectives. This money is awarded to help cover the costs of Student Group events, campaigns, trips, equipment and much more.

It is important that you read through the 2023-24 Grant Funding Guidelines carefully. You should also read through the example applications before starting to fill out your own application form.

After Submission:

The Societies Council reviews all Grant Funding applications once a month.

Resource(s)

2023-24 Grant Funding Guidelines

Grant Funding Application Form

Gaining Sponsorships

When?

Sponsorship contracts can be created at any point in the year but must be reviewed by the Activities & Volunteering Department by sending the filled in template to unionactivities@le.ac.uk.

What?

Sponsorships are a fantastic way to build a relationship with a company whilst sometimes also getting a financial bonus.

After Submission:

The Activities & Volunteering Team reviews all sponsorship agreements to ensure that your Student Group is getting the best deal.

Resource(s)

Sponsorship Guidance Booklet

Template Sponsorship Contract

Generating an Invoice

What?

You can use the Invoice Template to invoice a third party, such as a sponsor, for money owed to the group. This contains the bank details and address of the Union finance office. Be aware that if the third party doesn't reference your group, the funds will not be allocated into your account.

Resource

Invoice Template