Download - Cambridge University Students' Union

students in their union: clubs and societies handbook 2002/3example financial regulationsextract from University of Liverpool Guild of Students Society Handbookyour accountAll society money is held in an account in the Finance Office.Accounts are in society names & you will be given an account number (88****).The account is divided into 3 sections that contain the different parts of your society funds:Subs:Grant:Money members paid to joinMoney the Guild gives to societies, upon receipt of an application (rules governing how this spent isdetailed below)Income:Money generated by the society through its activities (e.g. events, fundraising, sponsorship, donations).Only society officers (or a smaller group thereof) may access society funds.external accountsWe require that all society funds be paid into the Finance office.Any society found to have an outside bank account (unless previously authorised) will have all their activities frozen and,unless a satisfactory conclusion is reached, disciplinary action may be taken against the officers.chequesIt is important to remember that ‘accounts’ are merely records of your monies held by the Guild. The only BankAccount the money gets paid into is the Guild’s.Therefore, when receiving cheques it is vital that they are made payable to ‘Guild of Students’ not to your society.Also remember to write the number of a cheque guarantee card on the back of the cheque yourself. This ensuresthat the cheque will not bounce and that you will get the money. Fines incurred by bounced cheques will be passedon to the society.31