Following the outcome of a couple of external financial reviews and audits it was highlighted that student groups whose banking and financial processes were undertaken externally from the SU needed to be brought in-house. This was approved by the Trustee Board.  This is a large project and is being rolled out in a phased manner.  Some student groups have already been transferred over . For those groups who still have external bank accounts and groups who do not have bank accounts but have not yet been contacted the SU Finance team will be in touch .  We can then discuss the new processes, and any questions / concerns can be discussed and addressed before moving ‘in-house’. Once administered internally the processes for income , expenditure and reporting will be done by the SU according to these procedures are in the document attached.

If you have any questions please contact lusugroupsfinance@lancaster.ac.uk.