Annual Budgeting

This training pack contains the following pages:

Each year, all student groups must complete an annual budget for the next academic year.  This helps you think about the progress of your CSP, what activities you envisage doing in the following year, and how you will develop or change.  Writing an annual budget demonstrates that your CSP is planning and managing finances well and can be used as evidence of this when applying for other sources of income.  Annual budgets also aid the next committee as guidelines for their expenditure.

Annual budgeting is a requirement to be considered for Union grant. Each year, the College gives the Union a sum of money to be spent on our members. A large proportion of this is allocated directly to Clubs, Societies & Projects (CSPs) to support student-led activities.

You will find it useful to look at previous budgets and equally, your successors will find your budget useful if it is detailed and done well.

What is the Purpose of an Annual Budget?

Budgets must be written regardless of whether you are applying for a grant or not. ​You can consider your Annual Budget your ‘Master Budget’ for the year. Writing a budget will help you to:

What is the purpose of Union grant?

The grant exists to support activity, not fully fund it. The rest of your CSPs costs should be covered by a combination of:

  • Membership​ (your joining-fee, sometimes known as "subs")
  • Ticket income (e.g. for specific events or sessions)
  • Sponsorship ​(funding from external organisations)
  • Other funding sources where relevant (e.g. ICTrust for trips, Harlington Fund for large equipment purchases)
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