How will these be funded? One of the most essential parts of running a successful activity group is effective budgeting learning how much things cost, and making sure you end the year – without spending more than you have! There are two ways groups are funded: 1. Self-Funding Most funding for groups comes from a combination of the following: Membership fees Sponsorship Tickets for events/activities Fundraising (such as bake sales etc) Bids Union provides support in developing all of these for your group, with The Students’ money going into your can spend it on whatever the group ‘unallocated’ funds (you wishes to spend it on). 2. Grant Funding Groups can also apply for funding directly from the Union, in the form of a Students’ grant (the caveat for this is that it can only be spent on items you have requested it for, and will be reclaimed by the Union if not spent in that year). This funding is allocated by the Student Activities Executive at the start of each term, with over 100 groups requesting money. The SAE allocates full or partial grants by considering the following principles: That the activity group provides unique activities as set out in its objectives. The aims contribute to the strategic aims of: proposed group’s Students’ Union’s Supporting academic success, employability and personal development. Providing a fun and enriching student life. Looking after student wellbeing and finance. The breadth and depth of impact on students, specifically considering: How many students will directly participate (the number of members) How many students will indirectly benefit The length and duration of the activity Actions that maximise the accessibility of the activity The sustainability of the activity, specifically: What is fundamental to the groups existence How members and beneficiaries contribute The potential to secure non-SU financial support through sponsorship, advertising and alternative grant support That club finances are managed in accordance with HSU procedures The costs involved in the activity The financial and resources in kind required to run the activity As part of the ratification pack, you are asked to specify costs in your activities this –
How will these be funded? One of the most essential parts of running a successful activity group is effective budgeting – learning how much things cost, and making sure you end the year without spending more than you have! There are two ways groups are funded: 1. Self-Funding Most funding for groups comes from a combination of the following: Membership fees Sponsorship Tickets for events/activities Fundraising (such as bake sales etc) Bids The Students’ Union provides support in developing all of these for your group, with money going into your ‘unallocated’ funds (you can spend it on whatever the group wishes to spend it on). 2. Grant Funding Groups can also apply for funding directly from the Students’ Union, in the form of a grant (the caveat for this is that it can only be spent on items you have requested it for, and will be reclaimed by the Union if not spent in that year). This funding is allocated by the Student Activities Executive at the start of each term, with over 100 groups requesting money. The SAE allocates full or partial grants by considering the following principles: That the activity group provides unique activities as set out in its objectives. The proposed group’s aims contribute to the Students’ Union’s strategic aims of: Supporting academic success, employability and personal development. Providing a fun and enriching student life. Looking after student wellbeing and finance. The breadth and depth of impact on students, specifically considering: How many students will directly participate (the number of members) How many students will indirectly benefit The length and duration of the activity Actions that maximise the accessibility of the activity The sustainability of the activity, specifically: What is fundamental to the groups existence How members and beneficiaries contribute The potential to secure non-SU financial support through sponsorship, advertising and alternative grant support That club finances are managed in accordance with HSU procedures The costs involved in the activity The financial and resources in kind required to run the activity As part of the ratification pack, you are asked to specify costs in your activities – this
Student_Activities_Ratification_Pack_2016-17.docx