It’s important to write a budget for your CSP. Without one, your group cannot be considered in Annual Budgeting or be allocated any Union grant
What is the purpose of an annual budget?
Writing a budget will help you to:
- Outline your plans for the following year; this will help the next committee to see what the CSP can afford
- Keep track of and manage your finances
- Reflect on the progress your CSP is making year on year
- Apply for Union Grant funding (if eligible) to subsidise the core activity of your CSP
- Provide evidence when applying for other sources of income e.g. sponsorship
Your budget should be used throughout the year and updated regularly so that you can keep track of your overall finances and reflect on the progress you have made
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. Bear in mind that the Annual Budgeting process has changed considerably this year (2018/19) and so any previous budgets should just be used for guidance; all CSPs will have to fully rewrite their budgets.
Annual Budgeting timetable
|8th January||Budgeting Opens for CSPs|
|4th February||Budgeting Closes for CSPs|
|8th February||MG1 Round Opens|
|25th February||MG1 Round Closes|
|1st March||MG2 Round Opens|
|18th March||MG2 Round Closes|
|19th – 30th March||Resolutions Period|
Please note the above timetable is subject to change at the discretion of the Deputy President (Clubs & Societies) and the Clubs, Societies & Projects Board (CSPB). For this reason please pay attention to emails from Student Activities and stay in touch with your Management Group or Constituent Union.
Appeals dates will be released after the third budgeting meeting.
Good luck with your budget!