Finance & Funding

 
Development Fund
Sheffield Hallam Students' Union Sports Clubs are eligible to receive a 'Development Fund' grant each academic year to support participation and performance within their sport. The funds are to be used solely for the delivery or development of the sporting programme (e.g. equipment, transport, competition entry fees, and accommodation) and will only be allocated on receipt of a fully completed Development Fund request form, to be submitted to the Sports Club Programme Leader during Semester 2.
 
Completed Development Fund request forms will be reviewed by the Sports Manager and the Sports Club Programme Leader. Development Funds for each club will subsequently be approved and communicated to clubs no later than the last Friday in August.
 
Development Fund grants are allocated based on a combination of factors including; the number of registered members in the club during the preceding season, the development needs of the club, safety considerations, programme specific costs and committee engagement during the preceding season.
 
Allocated funds will be available to spend from the first Monday in September and must be spent by the last Friday in June. Unspent funds will be reabsorbed into the overall Sports budget and may be reallocated to other clubs after that date.
 
Club Account
The club account holds the money that the club has raised through memberships fees, subs, Hallam Nation ticket sales etc. Money paid to your club by external parties will be credited to this account. The funds are 'restricted' which means that any money left in the account at the end of the academic will be carried over to the following year.
 
An up-to-date club account balance and list of transactions will be sent via email to the club Treasurer and Chairperson weekly throughout term time. If you would like the information sent to another member of your committee or have any questions about your finances, please contact the Finance team at hubsfinance@shu.ac.uk.
 
Please note that your club account does not have an overdraft facility and you may only spend the funds you have available. Any transactions that will take your club account into deficit may be declined and students' who have incurred unauthorised expenditure on behalf of the club may be personally liable.
 
Paying money into your Club Account 
As far as is reasonably possible clubs should try to avoid cash transactions. 'Products' can be set up on your club webpage to collect in money for a variety of purposes, such as; trip deposits, merchandise sales, subs and team kit sales. Your Chairperson and Treasurer can set up products on your page. If you are having any difficultly with 'products' please contact the Sports Club Programme Leader for support.
 
Spending club funds
To spend money from either your Club Account or Development Fund the following process must be followed:
1. Obtain a quotation (multiple quotations (2+) required for orders in excess of £75)
2. Ask your club Treasurer to email your preferred quotation to the Student Activities Administrator
3. If the club has sufficient funds The Student Activities Administrator will then raise a purchase order with the chosen supplier and the purchase order will be passed to the Sports Manger for approval. Please note; if the supplier is being used for the first time there may be a brief delay while we establish them as a supplier on our accounting system.
4. The company should then send us an invoice detailing the purcase order number and payment will be made by BACS transfer to their nominated account. Suppliers who do not accept BACS transfers, may be paid via the Students' Union credit card.
 
Goods will only be delivered to Sheffield Hallam Students' Union, Paternoster Row, Sheffield, S1 2QQ. When the item(s) arrives, a member of the Sports team will contact your Equipment Officer to arrange collection.
 
IMPORTANT - If goods or services are ordered without following the process above then the Students' Union is under no obligation to pay any resulting invoices and the individual who raised the order could be personally liable for the settlement if the order request is declined by the Students' Union or the club has insufficient funds available. 
 
Expenses claims
For expenditure that cannot be paid for in advance such as fuel for a hire car, students' must keep all receipts and fill in an expenses claim form and email it to the Student Activities Administrator who will seek the Sports Manager's approval before payment is made. 
 
Claims or £50.00 or less can be paid in cash or via a BACS transaction. Claims over £50.00 must be paid by BACS transaction and will be paid into a nominated bank account within 10 working days of the claim submission, subject to approval by the Sports Manager. BACS transfers are made on Wednesdays and will clear accounts on the following Friday.


Affiliations (National Governing Bodies)
The Students' Union will centrally fund each club's national governing body (NGB) affiliation at the beginning of the academic year. Please note this only applies to the affiliation of the club to the relevant NGB. Individual player affiliations/licences (e.g. British Rowing racing licences) are to be paid by individual athletes or by the club from their Club Account (subject to available funds). The Development Fund cannot be used for individual player affiliations.

Selling Club Assets
If your club would like to sell unused equipment you must consult with Sports Manager before doing so. All club assets are the sole property of Sheffield Hallam Students' Union and unauthorised misappropriation will be regarded as theft and could lead to disciplinary or criminal proceedings against individuals involved.

Printing
Each club is allocated £5.00 towards the cost of printing at the start of each season. To use this, a club committee member should email any documents to the Student Activities Administrator who will print them ready for collection from the HUBS. Any club who exceeds their £5.00 allocation will have charges for any additional copies allocated to their Club Account or Development Fund, subject to the availability of sufficient funds.

 
£0.04 per sheet of colour A4
£0.01 per 2 sheets of B&W A4
£0.08 per sheet of colour A3
£0.01 per sheet of B&W A3
 
All printing expenditure will be tracked by the Student Activities Administrator. Any expenditure over the £5.00 limit will initially be allocated to a general Reprographics code bbefore being allocated to your club.
 
Representative Funding
Sheffield Hallam Students' Union has specific funding to support performance athletes who qualify to compete at international competitions for SHU, Great Britain or Home Nations squads (for example: World University Games, European Universities Sports Association Championships, English/Welsh/Scottish or Northern Irish University Championships).
 
To be eligible for funding, athletes must first contact the Performance Athlete Support Officer to discuss their requirements and confirm eligibility.
 
Standard funding is 65% of the athletes competition costs after any NGB or sponsorship funds have been applied (i.e. 65% of the actual cost to the athlete not the cost of the overall competition). Funding requests must be approved by the Sports Manager.
 
Sponsorship
Please refer to the Student Activities Sponsorship Guidance document available HERE before agreeing any sponsorship for your club.
 
Subs
Team Hallam clubs are eligible to charge their members subs in addition to the Team Hallam membership fee. Subs must be agreed with the Sports Manager before charging club members and funds must only be collected through your club page on the Students' Union website to ensure adequate records of who has paid are accessible by committee members and Students' Union staff.
 
Equipment Insurance
All items detailed on your club equipment itinerary are insured through Endsleigh Insurance Services. The policy excess is £75. if you wish to make a claim please contact the Sports Manager.