In this collection, we will explore the types of expenditure that may be available to your Club or Society,
In order to maintain some degree of control on how much we spend, there are limits on the amount people can authorise.
A Club or Society Chair or Treasurer can approve expenditure up to £50 and anything over this amount must also be approved by your Management Group. For items over £1,000 the Activities Team Coordinator (Finance) must also approve the expenditure, and items over £10,000 must additionally be approved by an Activities Manager or the Deputy President (Activities).
It can take up to 10 working days for our Team to process your request from the time that the next highest authoriser in your authorisation chain has approved your submission. Please be aware that your request may be sent back to you with feedback at any time and make sure you allow sufficient time to respond to any feedback and make any required changes before your deadline.
Requests that are fully approved before 12pm on Wednesday will be paid to suppliers on the following Monday. Requests approved after 12pm on Wednesday will be included in the next payment run and paid on the Monday of the following week.
Summary
| Claims | Claims are used for smaller expenditures (under £250) when you or another member of your Club or Society spend your own money and need to be reimbursed by the Union from your group’s accounts. It can take up to 10 working days for our Team to process your request from the time that the next highest authoriser in your authorisation chain has approved your submission. |
| Purchase Orders | When making larger purchases (over £250) from suppliers you should use a purchase order. These should be raised in plenty of time before payment is needed to ensure that they can be approved in time and that the purchase order number can be given to the supplier to quote on their invoice. (If the purchase order number is on an invoice it allows the Union Finance Team to quickly see that the expenditure has been authorised and so payment will be made faster). |
| Internal Charging | If purchasing goods/services from another group or from a Union department, they will raise an internal charge which you will need to approve to pay them. |
| Credit Card | The Union has a credit card that can be used where no other method of payment is acceptable to the supplier. |
| International Payments | International bank transfers can be made when an overseas supplier requires payment, a hostel for a tour for example. |
If you're uncertain which type of expenditure is suitable for your activity/event please contact icu.finance@imperial.ac.uk for guidance.
Still have questions after reading the articles in this collection? Check out the rest of our knowledge base articles or submit a ticket to the Activities Team.
