Applying for funding:
All student groups can bid for funds from the Student Group Executive Committee (SGEC), for activity and events. In order to access these funds student groups must complete a grant application form, outlining how much money they're asking for and how it'll be spent, then send this form to firstname.lastname@example.org.
There are monthly funding deadlines during term time (September-May) which will be released to all societies and groups at the beginning of term. The grant application form can only be submitted by student group committee members and must be emailed to email@example.com before the deadline each month. You will recieve the verdict of your bid within a week of the deadline. The next funding deadlines are as follows:
- Sunday 12 January
- Sunday 9 February
- Sunday 8 March
- Sunday 12 April
Student groups should check their society account balance before bidding for funds, because if funds are already within your account you may not be granted funding from the SGEC. Once the funding deadline has passed, the SGEC will meet to discuss all bids and an MDXSU staff member will get back to you within 5 working days of the meeting.
The Student Groups Executive Committee can't accept a bid from a society for funds which have already been spent, so make sure your society prepares and submits a funding bid in advance of any activity.
Spending the funds:
If you're successful in your funding application, you can access the funds in two different ways: via expenses or outgoing costs. You will never have access to cash from the account.
An expense form would be used if goods/items have already been approved and purchased by student group's committee. The expense form would need to be signed by two other members of the team and submitted to the Student Groups Coordinator along with all original, itemised receipts. Please note that the receipts must be the original copies and that invoices cannot be used as receipts. Invoices are a request for payment, not proof of payment (see below for how to pay via invoice).
An outgoing costs form would be used if your student group wanted to pay for goods/services via invoice. In this situation, a member of your student group committee would need to have asked for an invoice from the company you are purchasing goods/services from, and submit the invoice to the Student Groups Coordinator, along with an outgoing costs form signed by two members of the committee. Invoices will then be paid within 30 days. When asking a company for an invoice, please ensure the document has the following information on:
- MDXSU details (name and address)
- Contact details of person raising the invoice (e.g. company/artist/speaker)
- Bank details (account name, sort code and account number)
- An invoice number
- The date the invoice was created
- Brief description of the work being charged for
- Amount that is being charged
Student groups should not spend any of their own money before confirming that they have the money in their SU account to be reimbursed (either through income, such as ticket sales, or funding from the SGEC), otherwise they risk being left out of pocket. Student groups should always check they have enough money in their account before making any purchases.
All forms must be hand signed, as MDXSU cannot accept a typed name as a signature. Payments will be made on the 15th and the final working day of the month. For payments on the 15th of the month, forms must be handed into the Student Groups Coordinator by the 8th of the month and for payments at the end of the month, forms must be with us by the 21st of the month.
Below are some FAQs about student group finances. You can also contact the Student Groups Coordinator directly with any questions on - firstname.lastname@example.org
Student Group Finance FAQs
What’s my society account number?
- If you don’t know it already, email the Student Groups Coordinator and they’ll let you know. It’s good practice to always refer to it when enquiring about your society’s finances, as it makes finding out information a lot quicker.
Can I spend my own money and then get it back from MDXSU?
- You can only spend your own money and get it reimbursed from MDXSU if you know you have money in your society account. We recommend that you never spend your own money on society activity before checking your society account balance. If you have no funds in your society account, you can bid for funding via the Student Groups Executive Committee. If you spend your own money and don't have funds in your society account, you won't be able to reimbursed.
If I have sent a bid to the Student Groups Executive Committee, can I spend my own money and then get it back from MDXSU?
- We only recommend spending your own money on society activity once the Student Groups Executive Committee have confirmed your bid. If you spend your own money and then the Student Groups Executive Committee decline your bid, you're at risk of being left out of pocket. Please wait until you hear back from the Student Groups Executive Committee before using your own funds to buy goods/services. The Student Groups Executive Committee can't accept a bid from a society for funds which have already been spent, so make sure your society prepares and submits a funding bid in advance of any activity.
How much is in my account?
- Email our Finance Team (email@example.com) referencing your account number and they will give you a society balance.
Why haven’t I been paid?
- There are two payment runs every month, which means if you miss one you may have to wait a further two weeks to be paid. It you contact the Student Groups Coordinator or the Finance Manager, they will be able to tell you when you’ll receive the money.
Can I withdraw cash from my society account?
- No. Funding can only be accessed by reclaiming expenses or paying companies directly via invoice.
What if I need to pay cash in?
- We always recommend using the MDXSU website for ticket sales/membership fees, however if you have cash that needs to be paid into the society account, take the money to the MDXSU welcome desk along with your account number, and a member of staff will assist you.
I have an international bank account, can I still be reimbursed?
- If you’re a student with bank account outside of the UK we will reimburse you by issuing you with a cheque. You’ll just need to fill in a copy of the ‘expense form – international version’, hand it your receipts and we’ll do the rest. You can then have the cheque posted or come collect it from MDXSU.
I've been supplied with an invoice, what do I do with it?
- If you've been supplied with an invoice from a company or person (e.g. a guest speaker, a DJ etc), you'll need to first ensure it has all the correct details on. We've compiled a checklist of what the invoice should have on it, which can be viewed here. If the invoice is OK, you'll need to complete an outgoing costs form and hand this in, along with the invoice, to MDXSU.