Managing your club finances
Funding for clubs
This information applies to clubs with FUNDED affiliation (Tier 1 & Tier 2 affiliation)
The Guild receives SSAF Funding (Student Services and Amenities Fees) 2023 expected funding = $2.0m to provide support services to students.
A portion of SSAF is allocated to clubs via;
- direct floats and grants
- indirect/support services/staffing costs
The Guild reports quarterly to ECU on spending progress and measurement of KPIs that gauge our levels of student support success/progress.
Systems/Resources for Clubs
Clubs page on Guild web site: clubs.ecuguild.org.au
Formstack: club management portal – access for each club and Guild to oversee all clubs – forms, finances, info etc
Vasco Prepaid Visa Cards: for all Guild funding support to be provided
- Can be used anywhere that accepts Visa Card, one card per club
- Individuals can only have 1 card allocated so if you are Treasurer for 2 or more clubs you will need to allocate only 1 and have another committee members for the others.
- Costs the Guild $6 activation fee plus $5 monthly fee
- Should NOT be used for Non-CLUB items
- Guild has access to block or claim back unused funds at year end
Vasco Cards
Money is provided to Clubs through the allocation of a VASCO Prepaid Visa Card to each club:
- Card is an ANZ bank backed Card is assigned to Club Treasurer or President – their mobile number and club email will allow app download and tracking of balance, limits, available funds etc
- Use the card for club purchases with Guild Funds
Initial Float;
- $300 for Tier 1, and
- $150 for Tier2
- Up to a maximum of 5 subsequent Float top ups paid into card
- Grant requests can also be paid onto card, once approved
Funding Options: Float or Grant?
Option: Float
Initial float is paid to the Vasco card for your club, which is then used by the club for incidentals and smaller operating costs (not exceeding $200 for any 1 item)
- A Float Top Up can be requested as required (eg when funds are low)
- Float Top Up will not be approved unless valid receipts provided
- Submit a Float top-up form via Club Float Top Up link with all previous expense receipts
- Receipts must meet ATO requirement – ABN and other tax invoice
We will only top up amounts that have receipts and/or can be appropriately substantiated
- Not an unlimited budget – approval is based on merit, with club activities, engagement and impact on students considered when approving.
Examples of appropriate float expenses
OK
NOT OK
- Monthly Bank fees
- Coffee Meetings with receipts for club business
- Promo/event costs such as food, drinks, decorations
- Activities for club members aligned to your affiliation
- Stationary/Printing
- Decorations for a club event
- Paying for coffee when not club related business
- Lunch/dinner for your mates
- Private/personal expenses
Option 2: Grants
For items that are above your Float value, do a GRANT request
- Available to MOU Affiliated clubs to access
- Submit In ADVANCE! Via Club Grant Form link on the website
- PRIOR approval by VP’s
- Specify if it is to be paid to Vasco Card, bank account or 3rd party provider – think about how you want to make payment and the providers accepted payment methods
- Approval required PRIOR to expenditure proceeding – try to allow 2 weeks notice so PLAN, PLAN, PLAN!
Examples are:
- Club Uniforms/Merchandise
- Functions/Events
- Year end AGM
Insurance Protocols
Guild Insurance policies
Guild Insurance policies are all renewed each January by the Guild. Club cover is only applicable to clubs once affiliated
Additional notes:
Once Affiliated: The Affiliated Club (Excluding Tier 3 MOU) will be included on our Insurance policies below;
- Voluntary Workers Personal Accident Covers Club Committee members
- Group Personal Accident Insurance Covers Club Members
- Public Liability Covers Guild Approved Events (For all those events processed and approved through the Club Events Form)
During the Affiliation Year
Report all incidents to the Guild’s HR & WHS Officer (Please refer to WHS Section)
The Guild will assist you with claims process
End of the Affiliation Year/ handover
Coverage expires 31st December each year
Who do you need to contact?
Guild HR & WHS officer Reporting incidents and damage: m.mcvicker@ecuguild.org.au
Guild Vice President Reporting incidents and damage:
- VPAcademic@ecuguild.org.au
- VPInternational@ecuguild.org.au:
- VPSocialresponsibility@ecuguild.org.au:
- VPActivities.sw@ecuguild.org.au
Finance & Business Mananger
When a claim is needing to be lodged/copies of policies required/certificate of currency etc: Finance@ecuguild.org.au