Exeter Guild Finance Office - Financial Business

The Exeter Guild Finance Office is the central hub for managing all financial aspects of the University of Exeter Students’ Guild. It plays a crucial role in ensuring the Guild’s financial stability, transparency, and accountability, supporting its various activities and services for students. The office is responsible for overseeing income generation, expenditure management, budgeting, and financial reporting, essentially acting as the backbone of the Guild’s operations.

A primary function of the Finance Office is budgeting and financial planning. They work collaboratively with Guild officers, societies, and other affiliated groups to develop realistic and sustainable budgets. This involves forecasting income streams like membership fees, sponsorship revenue, and grants, while also meticulously planning for expenditure across various categories, including events, campaigns, staffing, and operational costs. The team provides guidance and support to student groups navigating the budgeting process, ensuring they understand financial procedures and best practices.

Managing the Guild’s diverse income streams is another critical area of responsibility. This includes processing membership subscriptions, handling payments for events and services, and securing and managing sponsorship deals. The office ensures that all income is accurately recorded and deposited, adhering to strict financial regulations and audit requirements. They also actively explore opportunities to diversify income sources and enhance the Guild’s financial resilience.

Expenditure management is carefully controlled to ensure value for money and compliance with the Guild’s financial policies. All spending requests are scrutinised, and approval is required to maintain budgetary control. The Finance Office provides clear guidelines on procurement processes, expense claims, and payment procedures. They also manage payroll for Guild staff and handle invoices from suppliers, ensuring timely and accurate payments.

A key aspect of the Finance Office’s role is providing comprehensive financial reporting. They prepare regular financial statements, including income statements, balance sheets, and cash flow statements, to provide a clear overview of the Guild’s financial performance. These reports are presented to the Guild Council, trustees, and other stakeholders, allowing them to make informed decisions and monitor the Guild’s financial health. The office also manages the annual audit process, working with external auditors to ensure the accuracy and integrity of the Guild’s financial records.

Beyond the core financial functions, the Exeter Guild Finance Office also serves as a valuable resource for student groups and staff seeking financial advice and support. They offer training on financial management best practices, provide guidance on fundraising activities, and assist with navigating the Guild’s financial regulations. The team’s expertise helps ensure that the Guild operates efficiently and effectively, allowing it to focus on its primary mission of representing and supporting the student body.