University treasurer

Hi, I am currently a treasurer for a student society. We are using my personal bank account for ticket sales from events and I have recently realised that it is not permitted. I thought it was, as every society that does similar events as ours operate through transfer to personal accounts. I just thought that we would eventually transfer to the union account at the year end. I have kept a record of all transfers, I have however also reimbursed expenses as the usual system was down from the sales account and made donations after fundraising events from my personal account (which I also now realised is also against my university's policy). I have found no society which uses personal transfer and transfer into the union account as well, there are either societies that by pass the union entirely or they follow their rules. I feel really uncomfortable with this because as the treasurer I am responsible, but my president is against fixing this procedure as it has been like this for numerous societies for over 3 years now and has just advised that I start to reimburse all expenses from our sales revenue so that by year end I have no money leftover from the society income. Friends also said to just go along and transfer any leftover profits to the next treasurer or president as others have done in the past. I want to fix this but I also do not want to get in trouble. What do I do?

Reply 1

Daniel - UOS

Official Rep

Put your hands up, admit you made an error, apologise, and then get help fixing everything. Failing to do so when you know it's wrong reflects poorly on you more than admitting fault. These rules are in place to prevent fraud. Covering things up now that you know it's wrong could open you up to a fraud enquiry by the SU, somenthing they could be forced to do due to their charitable status. Make an appointment with the society's lead, and take an independent witness (unconnected to the society) with you. Get ahead of this quickly, if you are the first to come forward about an endemic issue within societies, it'll look so much better than if you get randomly found out

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