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How to get Additional Funding

In addition to your membership income, ticket income and any grant you are awarded, there are a number of potential extra sources of funding available from UCL and Students’ Union UCL for your Club or Society.

Hiring and borrowing goods or equipment

Hiring equipment externally

Step 1

If you are hiring or borrowing any equipment you must firstly make sure that the level of expenditure is approved. This may involve completing an Event Budget Approval Form.

In addition, you should also make sure that any equipment you hired is insured, via the short-term insurance procedure. You will need to include the costs of insuring the equipment in any Event / Budget Approval Form that you complete.

How to draw up an event budget

If you are spending more than £200 on an event, you will need prior approval from the Students’ Union. If you are organising an event which will cost you less than £200, you will not need to seek prior approval from the Union. 

How to arrange Sponsorship for my Club or Society

Sponsorship is external support, either financial or for goods in kind, in return for some form of acknowledgement. We strongly encourage you to look into all possible Sponsorship opportunities, and the procedure for doing so is laid out in this guide.

If you want some more information, you may find our sponsorship training 2018 slides helpful.

Club Income and Expenditure Codes

In order to let us know what you have been spending money on, or how you have generated income, you’ll need to use a five digit code. The codes you are most likely to need are listed below.

How to get my Club or Society Account Statement

We are currently in the process of rolling out a new more efficient financial statements system which allows presidents and treasurers to gain more control over their club’s statements. In the meantime, presidents and treasurers receive their financial statements directly from the Activities Reception at least once a month, and whenever they request it. This will show both Grant and Non-Grant income and spending. Please note that some money takes time to appear. (e.g. online shop ticket sales & sponsorship brought in at the end of the month).

How to spend my own Money on Club or Society Purchases

In the majority of cases your club of society must order things in advance. However, there are some exceptions, e.g. buying small stationery items, impromptu purchases at a shop, when this will not be possible. Therefore we have a procedure, outlined below, to allow you to spend your own money and then reclaim it from your club or society account.
Please note that there is a separate procedure for sports travel reclaims – please see the guide on How to reclaim travel expenses.

How to Spend Money from your Club/Society Account

Budgeting and Spending

On this page:

The money in your club/society account (especially in your grant account) is there to be spend. There are different procedures in place depending on the amount you’d like to spend. The procedures allow the Union to: