Learn all about managing your club’s money. How to access it, how to spend it and how to keep track of your club money.
Clubs are required to operate according to an RMIT Student Life approved budget. The budget forms part of the club's Business Model Canvas, detailing the activities and programs to be undertaken by the club in the following calendar year, including new initiatives aimed at further developing the club.
Here are some key tips to help prepare your budget:
RMIT provides funding to all clubs via the Student Services and Amenities Fee (SSAF) which is payable by all currently enrolled students.
To apply for a grant, clubs must be affiliated with RMIT Student Life and have completed the relevant sections on their club's Business Model Canvas. Clubs are encouraged to submit a full, detailed list of items they wish to be funded by the RMIT grant.
Grant applications must be approved prior to the club committing any monies toward the program/activity/item.
Applications are due with the budget submission and will be considered with assessment criteria. Late applications will only be considered if club plans have changed markedly.
Clubs are required to submit a monthly financial report using the club budget and grant template provided by RMIT Student Life within ten (10) days of the end of the month. All clubs are to use the template which can be downloaded below. Clubs should ensure receipts are kept securely for proper record keeping and auditing if necessary.
Clubs are required to submit an annual summary using the club budget and grant template which can be downloaded below.
We've put together a template to help you plan your yearly budget and your grant application. It also includes your monthly reporting templates and your annual report template
Clubs are encouraged to seek sponsorship but should remember RMIT is the Club’s major sponsor and source of funding. Remember, sponsorship is not always financial but can be in kind too. This can include free room hire, donated prizes and discounts on food/ beverage or merchandise. Sponsorship agreements should not be in any way prejudicial to RMIT University or RMIT Student Life’ s name, reputation or standing in the community.
The Clubs & Societies Program Coordinator must be consulted before entering into a sponsorship agreement. Contact the Clubs & Societies Program Coordinator at clubs@rmit.edu.au.
All clubs have access to a bank account with the Commonwealth Bank and are required to maintain at least two executives as current bank account signatories. At least one of these people needs to be a current RMIT student. Clubs are required to attend a Commonwealth Bank branch to change their account signatories.
Based on current circumstances the Clubs & Societies Program Coordinator needs to be present. Please check beforehand. The following documentation may be required:
Acknowledgement of Country
RMIT University acknowledges the people of the Woi wurrung and Boon wurrung language groups of the eastern Kulin Nation on whose unceded lands we conduct the business of the University. RMIT University respectfully acknowledges their Ancestors and Elders, past and present. RMIT also acknowledges the Traditional Custodians and their Ancestors of the lands and waters across Australia where we conduct our business - Artwork 'Sentient' by Hollie Johnson, Gunaikurnai and Monero Ngarigo.