UCLU

UCLU

University College London Union

How to draw up a Budget for an Event

Whenever you want to spend more than £150 on anything (an event or any one-off purchase) you will need to get that expenditure approved by the Union before you can make it. The procedure for doing this is the EVENT / BUDGET APPROVAL PROCEDURE. A budget is a realistic prediction of the income and expenditure of your Club or Societies specific events, activities or purchases.  Event budgets do not have to be complicated or exact, but they must be realistic and cover all possible areas of income and expenditure. For more in depth details about how to draw up a good budget, look in the Club and Society Development Pack, which is included on on this website.

Step 1

Work out what process you need to follow when drawing up your budget. The following table describes what you need to do and when you need to do it BEFORE you begin spending money:

Level of Expenditure*

Approval Process

When?

£0-150

No approval is needed; you can make your purchase without consulting the Union using a BACS reclaim procedure.

When necessary

£150-1000

Complete an EVENT / BUDGET APPROVAL FORM and submit it to uclu-csactivity@ucl.ac.uk

Minimum 2 weeks before the event.

£1000 or more

Complete an EVENT / BUDGET APPROVAL FORM and submit it to uclu-csactivity@ucl.ac.uk

You will also need to submit an OUT-TURN BUDGET (what actually happened) to the Union.

Minimum 4 weeks before the event. Out-Turn Budgets should be submitted within 2 weeks after the event.

Any event involving the hire of an external venue or facility for £2000 or more.

Complete an EVENT / BUDGET APPROVAL FORM and submit it to uclu-csactivity@ucl.ac.uk. Provide the Student Activities Officer with a copy of the venue/facility hire contract.

You will also need to submit an OUT-TURN BUDGET (what actually happened) to the Union.

Minimum 8 weeks before the event. Out-Turn Budgets should be submitted within 2 weeks after the event.

Step 2

Obtain the balance of your Grant and Non-Grant Accounts (see the guide on How to get your Club or Society Account Statement).

Think about where your income is coming from. You should include:

  • Contributions from either your Grant or your Non-Grant accounts.
  • Ticket sales (never budget for more than 50% ticket sales).
  • Membership contributions.
  • Bar sales.
  • Food sales.
  • Selling merchandise.

Think about how much you will need to spend. You should include:

  • Paying for the venue.
  • Paying DJ’s or technicians.
  • Decorating the venue.
  • Buying merchandise or food.
  • Printing and Publicity.
  • All other costs.

If your total in the income column is less than the total in your expenditure column, you are predicting that you will make a loss. In this situation you will need to look at alternative sources of income and/or reducing your costs. If you have money in your Non-Grant account you may be able to make up the deficit from there.

Step 3

Complete the EVENT / BUDGET APPROVAL FORM and email it to uclu-csactivity@ucl.ac.uk in line with the relevant deadline explained in the table above. Budgets will usually be approved or rejected within a week and a half of them being submitted.

Step 4

Await approval to spend the funds on your event. If you have any doubts about whether your event budget has been approved or if you have any questions,  book into a surgery with the Activities and Events Officer aeo@uclu.org  or one of the CSC team (by phoning the CSC reception on 0207 679 7239). 

Step 5

If your budget is approved then you are free to begin spending money or to order tickets etc. Check the appropriate guides for details on how to do this, especially the guide on How to spend money from my Club or Society Accounts