Introduction to the Finances of your Association
AL MacEWEN
(TREASURER)
DAVE ROGERS
(HEAD OF FINANCE)
Why Know about BUSA Finance?
– It impinges on many aspects of decision-making
– affects all committees
– accountability
– value for money
Types of Accounts:
– Annual statutory accounts - Known as Financial Accounts
– Management Accounts
budgets
quarterly & annual management accounts
Sources of Income
Where does the money come from?
– Member Income
– Sponsorship
– Sports Councils
– Specific Sports Governing Body Grants
– Interest on our investments
Income from Members
– Main form of income for BUSA
– Following future funding review in 2001/2 charge is in three Parts
• Option K Charge - set at 625K for 2003/4
• Team entry Levy - £40 per team
• Individual Entry Levy - Sports Specific charge (50p to £120)
– Option K is calculated according to:
• Fixed Charge based on student numbers
• Multipliers for team entry and individuals
• Income– 20% per capita
– 80% user pays system
• 10 to 1 waiting applied to Team Entries
• e.g 2004/05 £640k multiply by 20% = £128k per capita £640k - £128k = £512k 80% user pays element.
How Affiliation Fees are Calculated
•Team Entries 02/03 4,048•Individuals 02/03 15,453•Add the two together with a 10 to 1 waiting •Total Entries 40,480 + 15,453 = 55,933•Divide £512K by 55,933 = 9.1538•User pays element will be £9.15 per individual entry & £91.53 per team.
Expenditure
• Domestic Championships Costs of running team & individual championships
SMG expenses, medals & trophies, etc
• Domestic Representative Home Nation Events incl BUGs,
Other Representative matches
• International Representative Mainly ‘ring-fenced’ grants (UKS & NGBs)
World University Games (WUGs + WUCs)
• Staffing :direct: sport-related (Sport Programme Managers,
clerical)central office support (CEO, Head of Finance, etc)
• IT/Results Web site/Infrastructure
Capital & Recurring (License Fee & Web Hosting)
• Non Staff Office Costs :Paper, photocopiers, postage,
• Committeesdirect costs + staffing
Expenditure
Management Accounts
• Budget Proposal:projected by activity areas income &
expenditure for next yearapproved by F&H and Executive Board
• Quarterly Management Accounts Shows income/expenditure quarter end highlights anomalies Identifies problems Ensures accountability - F&H
Finance & House Committee
• Chairman - Senior Vice Chair • Treasurer• Student Vice Chair• Three Students• A Senior non Student Member• Currently 1 co-opted member
Finance And House Committee
• Chief Executive• Head of Finance• Finance Assistant
Finance & House Committee
• Two Year Budgeting• Additional Income Streams• Vat Liability• Reserve Funds• Health & Safety Audit &
(DDA)• Building Review• Online Entry System & Data
Capture
• Staff Contracts• Staff Secondments • Staff Training Requirements• Job Titles• Pay Awards (AUT
Increases)• Appraisal System
What are our aims for next year?
• Deliver the budget - No 1 aim• Accommodation - 8 Union Street• Continue to focus on our cost base
– Suppliers– Telephone/Postage– Meeting Costs
• Funds for the Sport• Obtain a title Sponsor
Can you help us?
• Travel – book ahead • Ask for help• Get Involved
Finance and House
1. Controls the money
2. Good overview
