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

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Sports Clubs and Societies expenditure

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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

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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