Society allotment requirements

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.

Include your contact information and hand your financial package in the box marked “VP Finance” in the ASU office, AL 120, or at the next Arts council meeting. If there is a problem, I will contact your society’s treasurer or other designated representative. If your budget is approved, you will receive no notice from me, simply wait until your society has been represented at three council meetings and your allotment cheque will be available after we have received our funds from Federation of Students (Feds).

If you have any questions, don’t hesitate to contact the ASU executive team.

Thanks for your co-operation, and have a great term!

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