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Clubs and Societies

Finances & Grants

Finances & Grants

CLUB BANK ACCOUNTS
1.HOW TO OPEN UP A CLUB BANK ACCOUNT
  • Have a minimum of 2 authorized signatories (authorized signatories is more than one person who can sign or access the clubs/societies bank account)
  • Choose a bank to go with. We recommend ANZ. The process is easier if you select a bank, one of your signatories personally banks with.
  • Book an appointment
2.WHAT TO TAKE ALONG TO YOUR MEETING
  • Your clubs letter of affiliation from your Clubs Development Officer
  • Your IGM minutes with your signatories listed,
  • The New Club Signatories Form filled out,
  • Your signatories - if your signatories bank with your clubs new bank, then all they will need to take is their ID (Drivers Licence or Passport), and their eftpos card. If your signatories do not bank with your clubs new bank, eg. the clubs bank is ANZ, but your signatory banks with westpac, then they will need to bring their ID (Drivers Licence or Passport) and a proof of address, this could be a bank statement, or utilities invoice.
 
3.ARE YOU AN EXISTING CLUB WANTING TO CHANGE SIGNATORIES?
  • Make an appointment with your bank!
  • Take your most recent AGM minutes with your signatories listed,
  • The Change of Signatories Form filled out and
  • Your signatories - if your signatories bank with your clubs new bank, then all they will need to take is their ID (Drivers Licence or Passport), and their eftpos card. If your signatories do not bank with your clubs new bank, eg. the clubs bank is ANZ, but your signatory banks with westpac, then they will need to bring their ID (Drivers Licence or Passport) and a proof of address, this could be a bank statement, or utilities invoice.

4. Has your bank hit you with a form called TAX RESIDENCY AND FOREGIN TAX INFORMATION?

In New Zealand, Financial institutions are required to identify and report customers that are tax residents in foreign to jurisdictions to New Zealand Inland Revenue Department (NZ IRD). This information will be shared with the relevant competent Tax Authority of each country with which New Zealand has an agreement. What your bank is asking you for, is your club's primary nature of business, the club's customer number, the type of entity, and for your signatories to declare their country of tax residence. If you get confused we can put you in touch with Dunedin Community Accounting to fill out the form.

 
OUSA GRANTS

Each year OUSA sets aside funding for specified projects, expenses, and events of affiliated clubs and societies. We also have designated funds for individual students who have been selected for particular events and competitions.  While there is a "ceiling" and conditions on those funds it is a helping hand to facilitate the overall operations of our clubs (and aid individuals with specific endeavors). 

The Application Process
  1. Read the current OUSA Grants Policy
  2. Scan over historical grants to gauge what kinds of grants have been awarded and to what degree
  3. Familiarise yourself with "good application" examples:

Otago Varsity Woman's Basketball Club - Playing Uniform - click here to see the application 

Otago Samoan Students Association - Conference - click here to see the application 

Otago University Snow Sports Club - Safety Gear - click here to see the application

Otago University Cambodian Club - Pull Up Banner - click here to see the application 

Otago Malaysian Students Association - Cultural Show Case - click here to see the application 

4. IN ADVANCE of making an application discuss your idea with the Clubs Development Officer

5. Submit your application, uploading various supporting commentary and "evidence". For clubs this means:

  • Information about the club
  • Information about the project - avoid making assumptions that the grants panel knows you and what you are doing, tell your story!
  • Letter of support - this could be from a member of the community or your club president showing their support for the project. 
  • Quotations - a minimum of 2 quotes for your project to show the panel you are getting the best deal.                                                                                    
  • Budget - an accurate budget that showcases all incoming and outgoing costs.
  • Bank account name and number - must be a club bank account in the form of either a deposit slip, screenshot of a statement or of account. Club name and account number must be visible and cannot be typed into a document. The account name needs to match the quotes provided.
  • Quote, invoices, and receipts from organisations need to be formal in nature. If it is a quote, the document should state it is a “quote”, if invoice, then “Tax Invoice”, etc. 

For individuals this means:

  • Information about the event/project.
  • Confirmation from the event organizers that you/your team are involved in the event/project.
  • Letter of support - you must be selected to attend the event to be eligible for a grant, this letter of support must come from an official. Feel free to also provide a letter of support from a coach to support your application.
  • Quotes - provide 2. 
  • Budget - an accurate budget that showcases all incoming and outcoming costs.
  • Bank account name and number - in the form of either a deposit slip, screenshot of a statement, or of account. The name and account number must be visible and cannot be typed into a document.
Timeframes (Grants are a Slow Burner)
  • There are 7 grant rounds over the year. 
  • There is 1 remaining round for 2021, applications for this are due October 31st, 5 pm.
  • As per policy, you need to submit your application no later than 14 days prior to your project/event taking place
  • 1 - 2 weeks post a round closing the panel will meet to discuss your application
  • Recommendations are then made to our executive (who meet weekly) for ratification
  • Once approved the Club Development Officer will formalize the grant via a contract, to be agreed to and signed
  • Pending all supporting information has been received, your grant will go to our accounts team for processing
  • You can expect payment 1 - 2 months from the grant round application closing date
Contextual Information

When looking to fund an application the panel looks at alignment with the grants policy, purpose and intent, measurable outcomes, must-haves verse wants, community impact, applicant investment, vision and mission alignment, fair quotations, credibility, accuracy and membership base.

Covid

The grants panel uses its discretion through COVID to award and where required suspend grants. Discretion is used on the basis of risk management, staffing capabilities, and administration practicalities. 

Apply for a Club Grant now >

Apply for an Individual grant online now >

 

EXTERNAL FUNDING

You (or your club) may be eligible for funding outside of OUSA. This could include sources like

For more suggestions head to Sport NZ Funding or the Dunedin Public Library for free access to GIVEUS