Hull Roundheads RUFC

Finance Policy and Procedures

FINANCIAL PROCEDURES CONTENTS

Purpose of document

1. Organisational Information

2. Bank accounts and online banking

3. Books of account and records

4. Ordering supplies, services and payments

5. Payment authorisation

6. Handling of cash

7. Salaries, payroll and freelancers

8. Income

9. Budget setting

10. Financial monitoring and audit

Addendum 1

Purpose of this document
To define the financial systems used by Hull Roundheads Union Rugby Football Club and how they relate to all areas of the organisation (sometimes referred to as Financial Standing Orders).

A. To enable the Committee to carry out these responsibilities, the Financial Procedures detailed below must be followed at all times by all Committee, Coaches, Players and volunteers.

B. A copy of this policy and procedures will be given to all Committee members on their election and to all relevant staff and volunteers.

C. The policy and procedures will be reviewed annually by the Committee and revised as necessary.

D. Safeguarding the assets of the Club

E. Preventing fraud

F. Avoiding mistakes

1. Organisational Information

Hull Roundheads Rugby Union Football Club Financial Year runs from 1st August to the 31st July each year to coincide with the AGM.

Hull Roundheads Rugby Union Football Club bankers are:

Lloyds Bank plc

Current Signatories to the accounts:

I. Name: Liam Spivey

Role/Job: Title: Club Treasurer

Email: treasurer@roundheadsrufc.co.uk

II. Name: David Eldridge

Role/Job: Title: Club Chair

Email: chair@roundheadsrufc.co.uk

III. Name: Toby Roper

Role/Job: Title: Club Secretary

Email: secretary@roundheadsrufc.co.uk

2. Bank accounts and online banking
The setup of the accounts is as follows:

· All bank accounts must be in the name of the organisation.

· No account may ever be opened in the name of an individual or individuals.

· New accounts may only be opened by a decision of the Committee, which must be minuted.

· Changes to the bank mandate may only be made by a decision of the Committee, which must be minuted.

· All Internet Bank Transfers must be authorised by two signatories if over £50.

· The Treasurer is responsible for ensuring accuracy and completeness prior to transmission.

· The signatories are responsible for examining the payment documentation (purchase invoice etc) prior to authorising an Internet Transfer.

A sweep arrangement between membership, reserve, and direct debit accounts is operated. These arrangements are subject to review, in the light of what is most advantageous in terms of cost and service. All changes are to be authorised by the Executive Officers.

Access to the accounts is limited solely to the Executive Officers with a 2 signature authorization on all accounts except for reserve accounts which require 3 signatures this also includes online banking.

Persons authorised to have access to any Club online banking service

will be responsible for ensuring that relevant passwords/security details are

kept secure and that any computer/device used to access any of the services is kept up to date with anti-virus and firewall software.

Persons authorised to have access to any Club online banking service

will not use any computer to access said services that is accessible to the

general public.

Persons authorised to have access to any Club online banking service

will not divulge their security details for said services to any third party,

particularly in response to any email or telephone request to do so.

The details of all online banking transactions will be stored as part of the

bookkeeping records of the Club.

Cheques are to only be used in emergency with autherisation from the full Committee.

3. Books and systems of account and records

Proper accounting records will be kept. The accounts systems is based around computer facilities using Xero accountancy software, but manual/paper records will also be used if appropriate and transferred to Xero. Xero is able to be accessed by all Executive Officers members.

The organisation maintains an accounting system which records:

· Cheques and cash received and banked

· Internet Banking Transfers and other amounts paid from the bank accounts

· Every transaction will be entered onto the appropriate system and will include:

· The date of the transaction

· The name of the person money was received from or paid to and the full amount

· A brief description of why the money was received or paid

· An analysis of each amount under its relevant budget heading, where applicable

· All documents relating to receipts and payments will be filed in the month they are input into the system

· Records are kept for a minimum period of 7 years and that no records are

destroyed without the express authorisation of the Committee.

4. Ordering supplies, services and payments
All Committee members need to be aware that expenditure is committed when an order is placed on behalf of Hull Roundheads Rugby Union Football Club. Therefore, it is important that all orders are placed properly, and are within agreed budgets and delegated powers.

Committee members must request authorisation from the Treasurer first and foremost for all payments and or Executive Officers members if amount is above £50 as per Section 5 or the Treasurer is unavailable. Committee members, once autherised are to place orders for goods or services within their areas, subject only to cash-flow restraints. Standard procurement requests may be requested.

Suppliers must be requested to produce delivery notes and invoices, addressed to Hull Roundheads Rugby Union Football Club, and invoices either sent to the clubs address or the Treasures email. All documents must be provided to the treasurer.

5. Payment authorisation
All invoices must be authorised for payment by the Treasurer and/or Executive Officers if required. The Treasurer is responsible for checking invoices for accuracy in terms of figures and conformity with the order placed, that the services or goods have been received, and following up any problems.

All incoming invoices are to be passed to the Treasurer as soon as they arrive. Invoices will be recorded on to the Xero as soon as possible, unless there are coding problems. They are then passed on to the Treasurer and/or the Executive Officers for authorization if required. Once authorised as above, suppliers will be paid within the appropriate timescale. This is generally 14 - 30 days of invoice date, unless there are exceptional cash-flow difficulties or specific supplier arrangements. The latter must be communicated by the requesting Committee member to the Treasurer, who will inform them of any difficulties in meeting these.

Refunds of overpayments or cancellations of bookings/orders will follow the above regards the amount to be refunded and required authorisation.

Direct debits must be authorized in accordance to below.

Payments under £50.00 should be in writing where practical and emailed to the Treasurer with recipes/invoices attached. This can also be referred to as Petty Cash. Petty cash will be drawn from the relevant account, where the amount spent is reimbursed. It is intended for small items, up to £50.00. The Treasurer can solely authorise this payment or 1 Executive Officer if the Treasurer is unable to do so.

All payments over £50.00 or more must be authorised by two members of the Executive Officers and must be placed in writing and emailed to the Treasurer. Committee members will discuss in detail with the Treasurer appropriate parameters. Recipes/invoices will need to be provided.

Any lease, hire purchase agreement or other contract involving expenditure will be subject to the same authorisation procedure as above, with the appropriate expenditure amount being the total committed expenditure over the period of the contract, or where the contract is open-ended, over the first 12 months of the contract. Larger contracts should not be entered into without adequate advice from a relevant professional adviser (e.g. accountant, solicitor, surveyor). The exception to this is payments for pitch hire for games or training. The Treasurer can solely authorise this payment or 1 Executive Officer if the Treasurer is unable to do so though invoices must be provided in accordance to Section 4.

Payments or expenses submitted from the Executive Officers including the Treasurer cannot be self-approved and require the autherisation of another Executive Officer with the same accordance as above.

No two signatories may reside in the same household for autherisation unless in respect of time critical ad hoc expenditure only, when it has not been possible to obtain alternative persons authorised, may

authorise expenditure of up to £100, and in such an event, required to report it to the Committee as soon as practicable after the fact.

Under no circumstances can a signatory sign a blank cheque. A signatory who is asked to sign a blank cheque should report this to the Committee without delay.

6. Handling of cash
In the event payment cannot be taken electronically or cash is required (such as payments to referees), all cash/payments collected from Treasurer will be signed for, and receipts will be issued for all cash/payments returned.

The Treasurer will keep an allotted amount of £100 in a locked safe for such times. Both Chair and Secretary will be required to check this amount on a monthly basis.

Specific extra cash floats (for tills at events etc.) should be arranged with the Treasurer and other Executive Officers. The person signing for the float is responsible for ensuring cash and receipts are returned as soon as possible after the event etc. No further floats may be issued to that person, or another person for a similar purpose, unless the previous float has been accounted for.

Mixing money or receipts from different cash sources creates large accounting problems. In a real emergency, where another cash float has to be used for something, a clear record must be kept, and brought to the Executive Officers attention.

Any cash income from fundraising events will be banked, and not used for petty cash expenditure. Such cash will be passed to either Treasurer or other Executive Officers. Cash will be kept in locked safe until deposited into the bank. Appropriate arrangements will be made for till security.

7. Expenses
Expense claims from volunteers must be made on the Club’s expenses claim form on a monthly basis and must be signed by the claimant. The form must be accompanied by relevant receipts.

Expenses will only be paid when they have been approved by the

Treasurer and the Committee in advance of any actual expenditure. Claims must be for “out of pocket” expenses only as defined by HMRC (i.e. for fuel, parking etc.).

Mileage claims must detail the journeys made on Club business by the

claimant, documenting the address (including postcode) of the start and end

of the journey, the purpose of the travel, and the number of miles travelled.

Rates and guidance are in line with Guidance Travel - mileage and fuel rates and allowances from the HMRC. Claimants will need to provide business insurance proof before autherisation can be given.

The rate payable will be;

| | First 10,000 business miles in the clubs financial year | Each business mile over 10,000 in in the clubs financial year | Cars and vans | 45p | 25p
| Motor cycles | 24p | 24p
| Bicycles | 20p | 20p

Expenses claims must be authorised by the Treasurer before payment is

made and payments will be subject to the controls detailed in

Section 5. of this Policy. Expense claims made by the Treasurer must be

authorised by another member of the Executive Officers.

An annual summary of all expenses paid to each individual will be

reported to the Members at the AGM.

8. Income
The majority of income received by Hull Roundheads is from membership.

Information about grant/sponsorship/fundraising income must be passed to Treasurer who will discuss with the Executive Officers. It is the responsibility of the person gaining the grant/sponsorship/fundraising to ensure all grant/sponsorship/fundraising income is claimed as it becomes due or available, and that the Executive Officers and the Treasurer are aware of relevant grant/sponsorship/fundraising conditions and exactly how the grant/sponsorship/fundraising is to be expended.

9. Budget setting
12 monthly income and expenditure budgets will be prepared in time for final approval by the Executive Officers, before the start of the Club’s financial year under consideration. Budgets are prepared by the Treasurer. Central management budgets are prepared by the Treasurer in consultation with the Executive Officers. The Executive Officers will play a lead role in ensuring that budgets are set fairly, efficiently and in time. Approval of the budgets is by recommendation of the Executive Officers to the Full Committee.

The approved budget will be used as a base to construct a cash-flow forecast for the year, which will be updated quarterly.

The Treasurer is responsible for assessing, advising and reviewing membership rates in review with other IGR and local clubs to ensure financial viability of the Club and will make appropriate recommendations to the Committee for consideration at an AGM.

2021 – 2022 Season’s Membership Rates are as follows;

| | Union or Touch Team | Both Teams | Student and Unemployed | £6.25 | £7.50
| Employed | £12.50 | £15
| Supporters | £2.50 | £2.50

10. Financial monitoring and audit
All members will receive appropriate, quarterly reports of income and expenditure against budget.
All Committee members will receive appropriate, regular reports of income and expenditure against budget.
The Executive Officers will receive:
• Monthly snapshots of cash, total creditors and total debtors.
• Monthly reports of income and expenditure versus budget - within two weeks of month end.
(This will be available through access of Xero)

Detailed cash-flow reports will be produced as appropriate. Hull Roundheads financial year is from 1st August to 31st July. Annual accounts will be submitted for audit, as required under the Companies Act, charity regulations and grant conditions, prepared per SORP for Charities and any other relevant accounting conventions. Final draft should be ready for and passed by the Committee in July, with audited accounts signed for the AGM.

Addendum 1

Ideas Fund Grant;

Hull Roundheads RUFC has been awarded a grant from the ideas fund to

to better understand (and hopefully

overcome) the barriers and stigma that continue to exist within inclusive sport to further LGBTQ

participation (particularly within Hull’s diverse ethnic minority populations).

In partnership with researchers from the University of Hull and Hull Sport who have experience both in

empowering communities to tell their stories and of drawing other minority groups into sporting

activities, we will develop action research activities to

a) Explore, with existing gay, bi, trans and non-binary members of the team, the barriers to sports they faced prior to joining and the impact that had on their mental well-being, as well as any concerns that have arisen;

b) Design impactful approaches to framing and telling their stories in ways that can be communicated to other LGBTQ+ communities in Hull (including the development of dramatic

monologues)

c) Engage with LGBTQ+ individuals and organizations within Hull’s black, Asian and Eastern European populations and better understand any culturally specific barriers and stigma.

The club will not hold the money and this will held in an account on the Open Collective. This will follow Section 5 for autherisation on all amounts, relating to its development and delivery.

Contribution to Hull Roundheads

Financial contribution from BSA

Collective balance