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► Document D: Section 11
SECTION ELEVEN:
STANDING ORDERS GOVERNING FINANCIAL MATTERS
11.1 GRANTS TO COMMITTEES, SOCIETIES AND CLUBS
11.1.1 Any Committee, Club or Society requiring financial assistance from the Guild shall submit an estimate of the year's expenditure together with an estimate of any income to, in the case of:
Committees or Sub-Committees – Vice President (Finance and Advancement).
Societies – Vice President (Student Involvement)
Athletic Union Clubs – Vice President (Student Involvement).
11.1.2 The claims of the Athletic Union Clubs and Sporting Societies will be considered by the Societies Executive and the Athletic Union Management Group respectively, who will in turn submit their block estimate for the succeeding year to the Vice President (Finance and Advancement) on a date decided by him/her.
11.1.3 No grant shall be made to any Society or Club not recognised by the Guild.
PREPARATION OF TOTAL GUILD ESTIMATES
11.1.4 The Vice President (Finance and Advancement) and the General Manager will jointly prepare estimates of the income and expenditure for the coming year for discussion at the meeting of the Executive. The final forecast account, along with the Executive's recommendation on the size of the block grants, will be placed before the Guild Council for approval before the end of the preceding academic year. At the same time, as a guide to previous expenditure, an estimated account for the current year will also be placed before the Guild Council.
ALLOCATION OF THE BLOCK GRANT
11.1.5 Societies Executive and the Athletic Union Management Group shall be responsible for allocating the block grant to the Societies and Athletic Union Clubs respectively.
11.2 APPROVAL OF EXPENDITURE
CLUBS, SOCIETIES AND COMMITTEES
11.2.1 Clubs, Societies and Committees have the power to approve all running costs chargeable to their account. The responsible committee can approve capital expenditure up to the level given in the Financial Schedule (Document F). Capital expenditure above this level must be referred to Executive Committee for approval.
11.2.2 All records of expenditure shall be submitted to the next possible meeting of the Club or Society Committee for approval and recorded in the minutes.
11.2.3 After payment has been approved by the Club/Society Committee, the invoice or order form must be signed by the Treasurer or Chairperson or Secretary of the Club/Society and passed on to the AU/Societies Executive.
11.2.4 The Vice President (Finance and Advancement) shall have power to pay bills in advance of the Club or Society Committee approval, providing s/he is satisfied that the item is in order and delay cannot be accepted.
PERMANENT STAFF
11.2.5 The General Manager may authorise expenditure to meet all running costs for the Guild building eg wages, cleaning materials, etc. S/he may authorise capital expenditure up to the level given in the Financial Schedule, but any capital expenditure exceeding this amount must be submitted to the Executive for approval. In cases of extreme emergency, the General Manager may authorise capital expenditure for sums exceeding this level providing that s/he notifies the Vice President (Finance and Advancement) first.
EXECUTIVE
11.2.6 The Executive may authorise capital expenditure of up to and including the level given in the Financial Schedule. Capital expenditure involving sums of more than this level must be submitted to Guild Council for approval, after consideration by the Executive Committee.
GUILD COUNCIL
11.2.7 Guild Council may authorise capital expenditure of up to and including the level given in the Financial Schedule. Capital expenditure involving sums of more than this level must be submitted to University Finance Committee for approval, after consideration by the Executive Committee and Council.
11.2.8 If at any time the Guild Council shall pass a resolution authorising the Executive to borrow money, the Executive shall thereupon be empowered to borrow for the purposes of the Guild such an amount of money either at one time, or from time to time, and at such rate of interest and in such form and manner and upon such security as shall be specified in such resolution, and thereupon the nominees of the Executive shall, at the discretion of the Executive, make all such dispositions of the Guild property or any part thereof and enter into such agreements in relation thereto as the Executive may deem proper for giving security for such loans and interest. All members of the Guild Council, whether voting on such a resolution or not, and all persons becoming members of the Guild Council after the passing of the resolution, shall be deemed to have assented to the same as if they had voted in favour of such resolution.
OFFICERS' EXPENSES
11.2.9 The expenses of Executive Officers shall be countersigned by the President or Vice President (Finance and Advancement) and submitted to the Executive for approval by the Vice President (Finance and Advancement)
11.2.10 TRAVEL
Persons representing the Guild will normally be entitled to claim the return rail fare to their destination at the Student Rail Card rate. Any other level of fare will be paid at the discretion of the Vice President (Finance and Advancement)
.
11.2.11 A person may only travel by car if there is no public transport available, or if it is cheaper to travel by car by virtue of the number of passengers being carried. Other exceptions to this rule are at the discretion of the Vice President (Finance and Advancement), (e.g. the carrying of equipment, etc).
11.2.12 Car drivers will receive a mileage rate as laid down in the Financial Schedule.
11.2.13 Out of pocket expenses will be paid to all persons representing the Guild. This is to cover such incidentals as bus fares, tube fares, taxi fares, coffee etc. No receipts will be required for these expenditures. The payment of out of pocket expenses will be made at the discretion of the Vice President (Finance and Advancement) and in line with the Financial Schedule. A breakdown of expenditure shall be given when submitting petty cash forms.
11.2.14 ACCOMMODATION
If no accommodation is provided for in any Conference fee, then an individual representing the Guild may submit receipts up to the levels laid down in the Financial Schedule.
11.2.15 In the case of any of the above procedures not being adhered to, then the matter shall be brought before Council.
11.3 ORDERING OF GOODS AND SERVICES
11.3.1 ON CREDIT
No order shall be placed for goods or services unless accompanied by an official Guild Order Form, irrespective of the manner in which the preliminary enquiries were made. All order forms should bear full details of the goods or services required the name and address of the supplier and should state the price to be charged as well as the name of the Club/Society/Committee placing the order. for a Club/Society, this should be signed by one of the relevant officers concerned. All forms need to be signed by the relevant officer of the standing committee concerned (usually the Treasurers - i.e. Societies Executive Treasurer normally signs the forms for Societies) and then by the Vice President (Finance and Advancement) or his/her authorised deputy. If a Guild Order Form is not used or if the order is not countersigned by the Vice President (Finance and Advancement) or deputy, the Guild may not be prepared to pay for the goods or services. The debt would then be the responsibility of the member placing the order.
11.3.2 CASH PURCHASES
Any member of the Guild may make a petty cash claim for expenditure on the Guild's behalf. Cash payments shall not exceed the level given in the financial schedule of the Constitutional Regulations) except at the discretion of Executive. Payments over the level will be by cheque.
11.3.3 In the case of cash purchases, a claim should be presented to the relevant officer of the area from which the person wishes to make a claim. The procedure for getting approval of a claim is the same as listed in 11.3.1.n Claims should be submitted by full and proper receipts for all money listed on the claim form.
11.3.4 Each Club and Society Committee will determine the amount that its officers are permitted to spend without the Committee's prior approval. The amount will be notified to the Vice President (Finance and Advancement). Expenditure for sums greater than this amount may be authorised by the Committee's Secretary concerned without the Committee's prior approval in cases of extreme emergency only.
11.4 SUBSCRIPTIONS
11.4.1 All members shall pay such fees as may from time to time be prescribed by the Council of the University. Any proposals for a change in subscription shall be made by Student Affairs Committee on the recommendation of the Guild Council.
11.4.2 The Aston Graduates Association shall pay a block membership fee, which shall be 25% of their annual subscription paid by graduates joining in that year.
11.5. INVESTMENTS
11.5.1 The General Manager and the Vice President (Finance and Advancement) will keep the Guild's investments under continuous review and advise Guild Council where changes or additional investments are necessary. The Guild Council will have complete authority to decide on all matters relating to investments, subject to a report being made to University Finance Committee of any changes or additions.
11.6 CLUB AND SOCIETY FINANCES
11.6.1 HANDLING OF MONEY RECEIVED
All money received on behalf of any Club or Society must be paid in to the Guild Finance Office as soon as possible and in any case not later than two working days after receipt. Each Club or Society Treasurer should possess a counterfoil receipt book serially numbered, from which s/he should issue receipts for money received.
11.6.2 Any income (ie subscriptions, collection, entry charges), must not be used in whole or part for the payment of expenses, but shall be handed over intact as required above. Any payment, which would fall as a charge against such income shall be authorised and paid as laid down above.
11.6.3 RESPONSIBILITY FOR THE ACCOUNT
The General Manager is responsible for maintaining the Guild account and the accounts of all Guild Committees, Societies and Clubs. Details of transactions will be entered into the ledger as soon as they are made.
11.6.4 CLUB AND SOCIETY ACCOUNTS
The balance on the accounts of a recognised Club or Society of the Guild shall only be carried forward at the end of the session where the Club or Society is financially independent of the Guild. This shall be interpreted to mean that where the income of a Club or Society (not including grant income) is greater than its expenditure, the balance so accruing shall be carried forward.
11.6.5 ISSUE OF STATEMENTS
The General Manager will be responsible for issuing interim statements to every Committee, Club and Society, comparing income and expenditure against budgets each month. S/he and the Vice President (Finance and Advancement) will be jointly responsible for drawing attention to adverse trends.
11.6.6 A full statement of each account will be prepared at the end of each term and submitted to the Committee, Club or Society concerned at the first meeting of the following term for approval. The Executive Committee should also receive a copy of this statement.
11.6.7 QUERIES FROM COMMITTEE, SOCIETY AND CLUB TREASURERS
The Vice President (Finance and Advancement) will be responsible for answering all queries from Committees, Society and Club Treasurers relating to their accounts if the Treasurer of the relevant Standing Committee is unable to do so. S/he will arrange a regular time when s/he will be available to answer such queries and during these periods will take over the ledger from the permanent staff
11.6.8 POWER OF THE VICE PRESIDENT (Finance and Advancement)
The Vice President (Finance and Advancement) may freeze any account, which in his/her opinion is being improperly controlled or is in danger of overspending or has overspent its budget. S/he will report his/her action to the Executive who will determine any further action necessary.
11.7 ARRANGEMENTS FOR BANKING, PAYMENT OF CHEQUES AND KEEPING THE GUILD'S FINANCIAL RECORDS.
11.7.1 The Executive will have full authority to make or change all arrangements for banking, the payment of cheques and the keeping of the Guild's financial records, including the following:
11.7.2 The nature and the keeping of the Guild's financial books and records. The Executive may call for the production of such books and records at any time.
11.7.3 The signature on cheques and contracts, except that:
11.7.4 The General manager or his/her authorised deputy and relevant student officer will sign all cheques.
11.7.5 The General manager will sign all contracts. Any difficulties arising from the signing of contracts or cheques will be referred to the Executive for decision.
11.7.6 A nominee company shall be authorised by University Finance Committee to hold, as nominee for the Guild, stocks and shares and to accept instructions from any two of Vice President (Finance and Advancement), General Manager with regard to such securities or any other securities from time to time held by the Nominee Company for the Guild, and as to any application of the income there from and the process of sale thereof.
11.7.7 INVENTORY
The General Manager will arrange for an inventory to be made of all property belonging to the Guild. S/he will arrange for an inventory check at least once every six months.
11.8 LOANS TO STUDENTS
11.8.1 Loans may be advanced to individual students in cases of exceptional emergencies only. Any member of the Guild Executive may nominate loans for amounts given in the Financial Schedule. This must be authorised by a Guild Senior Manager, as well as either the President or Vice President Finance and Advancement. This procedure is set out in the “Guild Extraordinary Loan’ form. The Executive Committee will be informed of loan amounts made, however student information will be kept confidential. Loans exceeding the amounts stated in the Financial Schedule will be referred to the Executive Committee for consideration.
11.8. 2 Loans shall be repaid before the end of the academic year in which they are made, unless the Executive Committee decides otherwise under extraordinary circumstances.”
11.9 IRREGULARITIES
11.9.1 If any student or member of the Permanent Staff suspects any irregularities concerning the keeping of the Guild accounts, then he/she will immediately report his/her suspicions to the General manager, the President and the Vice President (Finance and Advancement). The latter will take whatever steps they think fit to investigate the complaint and if, after such investigation, they are satisfied that there are grounds for suspicion or complaint, they will report the matter to the Executive who will determine what action should be taken.
11.10 FINANCIAL SCHEDULE (SEE DOCUMENT F)
11.10.1 There shall be a Financial Schedule which shall state the degree of financial responsibility of each Guild committee, the fee for Associate Membership, transport and other expenses and all other statutory amounts of money applicable to this constitution. The Financial Schedule shall normally be agreed by Guild Council on a recommendation from Executive at the first Ordinary Meeting in the first term.
11.11 INDEMNITY
11.11.1 Every Officer, appointee or member of staff of Aston Students' Guild shall be entitled to be indemnified out of the assets of Aston Students' Guild against all losses or liability which h/she may sustain or incur in or about the execution of his/her office or otherwise in relation thereto. No officer, appointee or member of staff shall be liable, providing that nothing in this section shall affect their liability for the consequence of any negligent act on their part.
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