upsu financial report upsu financial report. introduction part of the purpose of the agm each year...

UPSU financial report

UPSUFinancialReport

Introduction

• Part of the purpose of the AGM each year is to report on the financial affairs of the Union to our members.

• We became a registered Charity on 31st August 2011 and are now regulated by the Charity Commission. Our charity number is 1143614.

• The 6 elected Executive Officers are currently the Trustees of UPSU and together with our 4 External Trustees and 2 Student Trustees form our Trustee Board

• We work in close partnership with the University

• The information shown in these slides is taken from our Trustee’s report & Financial Statements which is available on our website

UPSUFinancialReport

Financial Review 2014/2015

• Total income from all sources £5,664,666

• Total expenditure £5,518,808

• Operating surplus of £7,124 after transfers to reserves ( our savings)

• UPSU Reserves 2014/15

Reserve Fund 2014 2015 Reserve Fund 2014 2015 Free 53,000 60,000 Staffing 27,000 20,000 Designated 130,000 130,000 External/Matched Funding 45,000 36,000 Facilities Development 45,000 - Vehicle 15,000 30,000 Capital 330,000 406,000 Sports Development 30,000 75,000 Capital Commitments 137,000 188,000 Gym Equipment - 2,000 Total Unrestricted Funds £814,000 £951,000

UPSUFinancialReport

Where does our income come from?

UPSUFinancialReport

Summary of income over the last 9 years

UPSUFinancialReport

What do we spend our money on?

UPSUFinancialReport

Expenditure

UPSUFinancialReport

Representation expenditure

UPSUFinancialReport

Advice Centre expenditure

UPSUFinancialReport

Volunteering department expenditure

UPSUFinancialReport

Sports Clubs and Societies expenditure

UPSUFinancialReport

Sports Centre

UPSUFinancialReport

2014 2015 Change£ £ + / -

Memberships 255,329 284,701 29,372Other Income 76,603 93,305 16,702Total Income 331,932 378,006 46,074

Running Costs -259,996 -280,995 (20,999)Depreciation -10,320 -12,440 (2,120)Transfers to Reserves -16,435 -82,292 (65,857)Total Expenditure -286,751 -375,727 (88,976)

Surplus 45,181 2,279 (42,902)

Sports Centre

UPSUFinancialReport

Key commercial departments

UPSUFinancialReport

Affiliations

• (k) where the union is affiliated to any external organisations, a report should be published annually or more frequently containing-

o (i) a list of the external organisations to which the union is currently affiliated, and

o (ii) details of subscriptions or similar fees paid, or donations made, to such organisations in the past year (or since the last report),

o and such reports should be made available to the governing body and to all students;

Education Act 1994

UPSUFinancialReport

2015£

National Union of Students 50,958 NUS Services Membership 375 Advice UK 1,005 BUCS 14,141 NASMA membership 330 UKCISA UK subscription 325

Affiliation in 2014/15

UPSUFinancialReport

Our financial journey…. A bumpy road

UPSUFinancialReport

Recovery from our deficit position in 2001

UPSUFinancialReport

2014/15 has been one of our strongest years financially and our financial security continues to grow each year.

We aim to strengthen this position further in 2015/16 despite some ongoing financial challenges.

Any questions

UPSUFinancialReport