Arts Student Union (ASU) financial package
Your financial package should include:
- Current term budget
- Previous terms treasurer’s report
- A reconciled copy of your most recent bank statement
A budget is a projection of what you expect to make and spend per term. Estimate your numbers based on:
- Previous terms’ ASU allotment (compare corresponding terms allotment, they can generally be used as as a strong reference for the next terms allotment size)
- A rational expectation of what you expect to make (it’s a good idea to be conservative on the revenues side and more liberal on the expenses side)
Elaborate on expenses such as specific social events. If you have “regular” expenses and you know you will spend a certain amount, put it in, otherwise, leave a sum under “miscellaneous”.
Please don’t use symbols such as question marks. Numbers to calculate allotments can be obtained from the vice president finance or the ASU office administrator, if your society records are missing. Allotments are calculated at $3.50 per registered student in each program, with a top-up to a minimum allotment of $200.00 per term for small societies.
A treasurer’s report is essentially created by taking your past term’s budget, filling in the actual numbers, and adding any additional information.
Please follow the sample budget (XLS), sample treasurer’s report (XLS), and sample bank reconciliation (XLS). This is a minimum. Large societies may have numerous items, please account for them all appropriately.
Submit your subsociety's budget to the VP Finance via email. If there is a problem, they will contact your society’s treasurer or other designated representative. Once your budget has been approved by the council at the ASU council meeting, the VP Finance will inform you that your funds have been released.
All budgets must comply with WUSA policies and regulations.
If you have any questions, please don’t hesitate to contact the ASU executive team!
Thanks for your co-operation, and have a great term!