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Whenever you want to spend more than £200 on anything (an event or any one-off purchase) you will need to get that expenditure approved by the Union before you can make it. You do not need to submit the form if you are spending less than £200. 

The procedure for doing this is by submitting an Event Budget Approval Form. A budget is a realistic prediction of the income and expenditure of your Club or Societies specific events, activities or purchases.  Event budgets do not have to be complicated or exact, but they must be realistic and cover all possible areas of income and expenditure. For more in depth details about how to draw up a good budget, take a look at the training week presentations that can be found here.

Need more information on how to spend  club/society money? Take a look at the How to Guide for Spending Money from your Club/Society Account.

Step 1

Work out what process you need to follow when drawing up your budget. The following table describes what you need to do and when you need to do it before you begin spending money:

Level of Expenditure

Approval Process

When?

£0-200

No approval needed; you can make your purchase without consulting the Union using the Payment Request Form.

When necessary

£200-1000

Complete an Event Budget Approval Form and submit it to .

Minimum 2 weeks before the event.

£1,000 or more

Complete an Event Budget Approval Form and submit it to .

Minimum 4 weeks before the event. Out-Turn Budgets should be submitted within 2 weeks after the event.

Any event involving the hire of an external venue or facility for £2,000 or more.

Complete an Event Budget Approval Form  and submit it to . Provide the Student Activities Officer with a copy of the venue/facility hire contract. Please ensure you keep copies of all receipts for proof of purchase.

Minimum 8 weeks before the event. Out-Turn Budgets should be submitted within 2 weeks after the event.

Step 2

Obtain the balance of your Grant and Non-Grant Accounts (see the guide on How to get your Club or Society Account Statement).

Think about where your income is coming from. You should include:

  • Contributions from either your Grant or your Non-Grant accounts
  • Ticket sales (never budget for more than 50% ticket sales)
  • Membership contributions
  • Bar sales
  • Food sales
  • Selling merchandise

Think about how much you will need to spend. You should include:

  • Paying for the venue
  • Paying DJ’s or technicians
  • Decorating the venue
  • Buying merchandise or food
  • Printing and publicity
  • All other costs

If your total in the income column is less than the total in your expenditure column, you are predicting that you will make a loss. In this situation you will need to look at alternative sources of income and/or reducing your costs. If you have money in your Non-Grant account you may be able to make up the deficit from there. The Union will not approve events that make a loss.

Step 3

Complete the Event Budget Form and email it to the Student Activities Reception in line with the relevant deadline explained in the table above. Budgets will usually be approved or rejected within a week and a half of them being submitted.

Step 4

Await approval to spend the funds on your event. If you have any doubts about whether your event budget has been approved or if you have any questions, pop into a surgery time with either the Activities Officer, or one of the Student Activities Team. (Find out when they are by phoning the Union reception on 0207 679 7239 / 3830). 

Step 5

If your budget is approved then you are free to begin spending money or to order tickets etc. Check the appropriate guides for details on how to do this.