Every DCAC Affiliated Club or Society has two routes through which it may gain funding, access to which depends upon the type of spending. These funding methods are detailed below, and the current budget is detailed here.
The Annual Consumable Grant (ACG):
The ACG is used to cover all expenditures during the year that the club/society incurs as part of its usual running costs. The expenditure is not intended to have any great lasting material value or use for the club/society, and is purely the funds needed to improve and run the club/society.
At the beginning of each academic year the JCR Treasurer will email the President/Captain of each (affiliated) society to remind them to apply for a grant, by submitting an ACG Application Form. In order to receive funding from the DCAC each society/club must also complete the College Societies Annual Registration (CSAR) form, and submit the completed form with the ACG application form to Rob Beardwell.
Any society which does not apply for a grant by the deadline specified by the JCR Treasurer, or that has not completed the CSAR, will receive no funding that year. Also, academic societies are not permitted to charge an annual subscription fee and, therefore, events should be hosted within the financial constraints of DCAC funding combined with any donations and industry sponsorship, where appropriate.
How to claim this money:
Send a completed ACG Reimbursement Form with accompanying receipts/invoices to the JCR Treasurer, following the ACG Reimbursement Procedure outlined below.
It is much easier for the Treasurer if applications for reimbursement are made throughout the year, instead of all at once at the end of the year. Claims must be submitted within the academic year to which they relate. Claims made after the academic year they relate to will not be reimbursed.
Provided the expenditure can be met within your ACG budget and meets the DCAC spending regulations (below) then it will be approved and reimbursed/paid by cheque as quickly as possible.
On the beginning of the new academic year, the new budget comes into affect. Claims can be made from the new budget immediately; however until the DCAC has allocated the budget, the society/club will not know the amount they will be receiving for the academic year. Therefore it is unwise to make a claim in Michaelmas term before the new budget has been announced and should be avoided unless necessary; if a claim is made, the JCR treasurer will confirm with the society/club that they understand the conditions surrounding this reimbursement.
All ACG spending must meet the following regulations:
- More than one member of the society/club directly benefits from the spending.
- The spending is for an item with no significant lasting material effect, i.e. is consumable within the financial year. For anything which lasts longer (e.g. new kit that will belong to the club) use the separate DCAC Depreciation Fund (below).
- The spending must be approved by the authorised holder of the budget, typically the captain or president of the club/society.
- Sports teams may only spend on sports-related expenses (no socials).
- Academic societies may be reimbursed fully for events which meet the aims and objectives of the society, this can include Speaker expenses.DCAC money is not to be spent on purely social events for academic societies.These societies may however obtain money for such events through different methods such as membership fees and other college funds.
- Annual Consumable Grant funding can be used to cover the cost of reasonable refreshment, which can include food and drink, but does not include subsidy of dinners.This funding will be provided at the DCAC's discretion, and must be approved by the DCAC committee at least 2 weeks before the event.
- Alcoholic refreshments served at society events must be served by college to avoid unnecessary opening of bottles.Any unopened leftovers must be returned to the DCAC and made available for future DCAC events.
- Abuse of this funding will lead to a discontinuation for the society in question.
The Depreciation Fund:
This is a communal fund, shared by all DCAC Clubs/Societies, as well as other interests. It is for the purpose of funding club kit and equipment purchases that are needed by clubs/societies.
There are two principles that guide the use of the Depreciation Fund:
- The expenditure should be for club kit and equipment that has a lifetime of more than one year, and therefore has a lasting benefit and effect on the club/society.
- The expenditure should be less frequent than annual, representing the fact that it is a substantial/significant cost that is only incurred over a period greater than the ACG provides for.
Applications for funding from the Depreciation Fund are authorised by the DCAC Committee during the budget allocation process. To access these funds, please complete an ACG Reimbursement Form and specifiy that the intended source of funds is the depreciation fund. In extraordinary circumstances, the DCAC committee may approve expenditure from this fund which was not factored into the budget - in this case, please contact the JCR treasurer (firstname.lastname@example.org) before any purchases are made.
ACG REIMBURSEMENT PROCEDURE
- Money spent should be within allocation.
- The invoices along with ACG reimbursement form must be given to the JCR Treasurer (not necessarily in person but the JCR Treasurer should be informed that the forms have been delivered to his/her pigeonhole).
- If extra funds are required beyond those allocated to the society/club permission must be requested from the DCAC, before any purchases are made. Moneys spent before permission will not be reimbursed. The JCR Treasurer should be contacted with the request and he/she will bring the matter to the DCAC meeting
- After the reimbursement forms are received the accounts (spreadsheet) are modified accordingly and the forms are signed with approval.
- All forms are brought to the Bursary who then issues the cheques. Richard will then issue the cheque signers.
- The cheques are signed and their respective numbers recorded.
- The cheques are delivered to the recipients
2. Societies Funds: Budgets
- All budget applications for societies must be received annually in Michaelmas Term. Societies which do not present their request on time will not be allocated funds for the year.
- The removal of funds can be appealed only once every three years.
3. Accessing Depreciation Funds
- All purchases that are to be paid from the Depreciation fund have to be approved by the DCAC committee. Hence, a request for consideration for the use of the fund must be sent to the respective treasurer (JCR/MCR) before purchase.
- If the purchase exceeds £100 then two or three quotations need to be presented with the request. If the amount is less than or equal to £100 the DCAC committee reserves the right to request quotations.
- For approved reimbursements see 1.
Society Bank Accounts:
February 2006: The DCAC has a policy to not fund society bank accounts directly. Only the following societies can keep bank accounts (though they are still reimbursed by the DCAC using the usual ACG Reimbursement Forms and paid via cheque):
- Downing Entertainments Society
- Downing College Rugby Union Football Club (DCRUFC) (due to Varsity match ticket sales and tours)
- Choir (has additional sources of funding and tours)
- Downing Dramatic Society (used for processing cash from event ticket sales)
- Cranworth Law Society (has additional sources of funding)
- Danby Society (has additional sources of funding)
- Maitland Historical Society (has additional sources of funding)
- The Griffin (has additional sources of funding) – April 2009
- Downing Big Band
Societies with bank accounts must keep an accounts book (in most cases a simple Black ‘n’ Red A5 Cash book is appropriate), which should be inspected by the JCR Treasurer at the end of Easter term.
All society presidents are asked to remember to change signatories when handing-over to their successors.
If your society wishes to receive sponsorship before entering into any legal agreements you MUST contact the JCR Treasurer; In addition the following two guidelines must also be met:
a) the signatory must have legal authority to sign a sponsorship agreement
b) all funds must be remitted and banked before merchandise, kits, etc are ordered (i.e. the money must be “up-front”)