Management Group Chairs, Treasurers and Vice Chairs have financial responsibility over the Clubs, Societies and Projects contained within their Management Group. While Management Group Chairs and Treasurers can approve expenditure of all the Clubs, Societies and Projects in their Management Group, Vice Chairs can only do it for the Clubs, Societies and Projects in their Sub-Management Group. Management Group Officers have financial responsibility up to £1000.
Approving expenditure is primarily the responsibility of the Treasurer and Vice Chairs, though often the Chair will need to assist during busy periods. This forms a large part of the role of a Management Group, and it is crucial this work is carried out accurately and efficiently.
A Management Group Chair, Treasurer or Vice Chair will review all expenditure over £50 from the Clubs, Societies or Projects in their Management Group. There are some things to remember when reviewing expenditure (more details are contained in the Financial Transactions training pages):
- Make sure that the Club, Society or Project has the money they are trying to claim in their accounts.
If they don’t then reject the request, unless you have a good reason not to. Make sure there is money where they are asking for it to come from. If there isn’t money there, you should reject it, and ask them to contact you regarding whether they would like to take the money from somewhere else, or make other arrangements. - Make sure the receipts or invoices add up to the total amount indicated on eActivities.
Sometimes clubs start to make this confusing by separating things out into an item funded by Grant and the rest of the same item’s cost being made up from Self Generated Income (SGI). While this is perfectly acceptable, it takes a bit of getting your head around, this level of attention to detail is to be encouraged. Though, it might be worth asking them to leave you a note in the Notes box on the form just to clarify what it is they are doing. - Make sure that the receipts contain appropriate VAT evidence.
If they don't then either reject the request, asking for valid VAT evidence, or, if the VAT evidence is not possible to obtain, change the VAT code in the drop-down box to PN. Suitable VAT evidence allows Clubs, Societies and Projects to reclaim VAT on their expenditure, which can make a big difference to their financial health. - Make sure that the CSP Treasurer / Chair has applied the correct VAT code. If you are unsure as to which VAT code should be used you can clarify the issue with the CSP and Union Finance Team or Deputy President (Finance & Services).
- Make sure the Club, Society or Project hasn’t got frozen accounts - you can tell if they have frozen accounts because there will be a red box in the details summary page on eActivities. This will indicate which committee members have not completed the correct training or purchased membership. Don’t approve expenditure until they have done that paperwork.
If you have any queries about the above, please contact Deputy President (Finance and Services).
