Chester u3a Group Accounts
Group financial accounts are required to be submitted annually to the Chester U3A Treasurer for all groups whose annual income exceeds £50. This figure includes all funds collected from members to cover (for example) rental for hall, hire of sports facilities or equipment, refreshments, speaker expenses.
The accounts should be submitted to the Treasurer in September to cover the reporting period 1 September to 31 August in line with the reporting for the Chester u3a accounts.
An example Excel spreadsheet for group accounts, Chester u3a Group Finance Template, can be used to guide co-ordinators in what they need to submit annually to the Chester u3a Committee.
Group co-ordinators can download a copy of the spreadsheet. Those who do not have access to Excel should contact the Chester u3a Treasurer who can make a Group bespoke version available on-line for editing.
The information required is:
1) The group name
2) The group co-ordinator, with contact details
3) Dates for the period the accounts cover
4) Opening cash balances held by the group, including that held by the U3A Treasurer (the closing balances are calculated automatically)
5) Details of all income and expenditure for the group
6) Details of amounts transferred to the u3a Treasurer, if appropriate
7) Details of amounts paid by the u3a Treasurer on the Group’s behalf (e.g. for hall rental), if appropriate.
The spreadsheet can also be used to record the member contact details, including membership number, which is required by Chester u3a. It also provides the facility to record regular income and expenditure to compile the annual accounts. The template has been set up to record weekly meetings, but the dates can be changed at the top to suit the group meetings.
For help or advice please contact the Chester u3a Treasurer
It must be noted that groups are not allowed to maintain individual bank accounts. Any transactions which require payment by cheque must be undertaken by the u3a Treasurer. Likewise, any cheques collected by the group co-ordinator must be passed to the u3a Treasurer.
October 2018