Funding & Finance

Funding & Finance

This is of course a very important part of all clubs. The treasurer of a clubs should definitely be familiar with all finance forms and how they work. The treasurer or club captain are the only people who should fill out a finance form. If more than one form is filled out for an event, it will lead to confusion and a delay in the application being processed. As a guide – we want one person filling out one form for one event. The form must also be filled out with as much detail as possible (figures, people going, etc) and accompanied by receipts.

Important forms

• Budget
• Capital Capitation
• Instructor’s Wages
  

The finance forms are available in the PE office and come under several headings

• Intervarsity Home
• Intervarsity Away
• League Match/Tournaments
• Travel Subsidy
• Travel to Meetings
• Representative Travel
• Training for Coaches/Instructors
• Intensive Training
• Facility Hire
• Special Events
• New Club Fund

There are also Bank of Ireland Sponsorship forms.

So now you know the names of the forms what are they actually for?

Budget

The budget form is one of the most important forms of the year. This form helps our finance committee decide your Main Grant. The Main Grant is a large lump sum of money that every club gets at the start of the year. This money is to be used for day to day running of the club, buying hoodies, going to events etc. This is the clubs money and should be spent responsibly.

Capital Capitation

This form is for equipment that is property of the club and not property of an individual club member. Equipment that can be applied for under this form includes – nets, mats, footballs, boats, trampolines. Equipment that cannot be applied for under the form – hoodies, suits.

Instructor’s Wages

Also a very important form for obvious reasons. These forms must be filled in at Christmas and the end of the year if you want your instructor to be paid for the time they have put in.

Intervarsity Home

This one’s obvious. Expenditure other than meals will be considered. It must also be an officially recognised intervarsity.

Intervarsity Away

This is a nice easy one too. Again, it must also be an officially recognised intervarsity.

League Match/Tournaments

Money can be applied for any recognised league match or tournament where registered University/College/IT clubs are competing. The key parts of that sentence are recognised and registered.

Travel Subsidy

This form is to cater for mainly ‘outdoor pursuit’ clubs or clubs with a lot of travelling that isn’t covered by another finance form e.g. mountaineering, orienteering. Forms should be handed in at the end of each term with invoices/receipts to claim money.

Travel to Meetings

If you are representing your club, travel expenses to venues outside cork will be subsidise d. There are set rates for these expenses.

Representative Travel

This fund is available to support student who must travel abroad to represent their university/province/country. This form can also be filled in for travel within Ireland.

Training for Coaches/Instructors

This fund is for expenses for training courses for a club e.g. first aid, health and safety. This is not for general training in your sport.

Intensive Training

If your club has an IV coming up, you might want to put in a bit of extra training. This is only for extra training before an IV.

Facility Hire

If the club needs to hire out facilities that the college doesn’t have or cannot provide they can apply for money with this form.

Special Events

Any event that does not come under any other heading can be applied for under special events.

New Club Fund

All new clubs must apply for funding under this heading. The purpose the club needs funding should be specifically stated on the form.

Fund Raising

Although we can give money to clubs, we do not have a limitless supply of it. To raise some extra money for your club you can fund raise. Some ideas that have worked through the years are – quizzes, raffles, bag packing, nights out. Just use your imagination and initiative. We like clubs that fundraise because it shows that they are enterprising and working together.

Accessing Money

Okay, so now you have all your money in your club account you will want to access it. The club captain/treasurer needs to go to the PE office and fill out a cheque duplicate form. You write down the amount of money and the purpose for the cheque. You will also need to bring in receipts. Receipts are very important. They should be asked for and kept at all times when dealing with club funds. Accessing the club funds is a pretty easy process and should be learned quickly.

At any time during the year a member of the committee can ask for the clubs accounts. This will show the money in / money out of the club up to that date. This is useful to have to plan for events or equipment.

Bank of Ireland

Bank of Ireland gives the UCC clubs €150,000 each year. This is not to be sniffed at. For those of you who don’t like contracts, I’ll summarise it. We must have BOI on all our gear, on the main page of our websites; we must invite them to events and advertise them at our events. If a club is in breach of the contract they will be fined substantially.