3.17 Students' Union

3.17.1 The Students’ Union is a separate legal entity from the University, but is recognised to fulfil a valuable role in relation to the University’s students. The constitution of the Students’ Union is subject to approval by Council.

3.17.2 Subject to any constraints imposed by HEFCE, Council shall determine the level of grant to be paid annually to the Students’ Union. Council requires the Union to provide, for information, details of its proposed budget to assist in determining the appropriate level of grant.

3.17.3 The Students’ Union is responsible for maintaining its own bank account and financial records and preparing its own annual financial statements. The Students’ Union may not borrow money from its bank or elsewhere, without approval from the Finance Committee.

3.17.4 In accordance with an agreement between the University and the Students’ Union, the Union will provide monthly statements of income and expenditure to the Director of Finance and the Finance Committee for information purposes only.

3.17.5 At year end the Students’ Union financial statements will be audited by an appropriately qualified firm of auditors and will be presented to the Finance Committee for information.

3.17.6 In accordance with an agreement between the University and the Students’ Union, the University’s internal auditor shall have access to records, assets and personnel within the Students’ Union in the same way as other areas of the University.

3.17.7 The Students’ Union is responsible for maintaining their insurance arrangements. These much be declared to and agreed with the Director of Estates.

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