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Master Gardener Training. Cindy Buxton Extension Business Office 2008 http://osuebusiness.ag.ohio-state.edu. EMPOWERMENT THROUGH EDUCATION. Part of Ohio State University Use the County Office Checking Account Do not have outside checking, savings, CD’s, endowments, etc.

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Master Gardener Training

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Master Gardener Training

Cindy Buxton

Extension Business Office 2008

http://osuebusiness.ag.ohio-state.edu

EMPOWERMENT THROUGH EDUCATION


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Part of Ohio State University

Use the County Office Checking Account

Do not have outside checking, savings, CD’s, endowments, etc.

Use the University’s buying procedures

Use the County Director and office support for processing paperwork

Use the University’s lawyers

Use the University’s insurance

Use the University Foundation for accepting and using donations

What type of group?


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Not part of Ohio State University

Separate bank account(s)

Make purchases from those bank accounts

Have a club member that takes care of processing the paperwork

Have own legal counsel

Have own insurance coverage

Have own Federal Employer Identification Number (EIN)

Follow federal guidelines on accepting and using donations

What type of group?


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Part of OSU

Pros

Extension handles the deposits

You can use the Extension Office mailing address for correspondence

University handles the financial statements and sales tax reporting

Uses the University’s FEIN

Cons

Extension is responsible for the funds and must follow all University policies regarding deposits

Limited access to bank account information

Cannot have outside savings, cd’s endowments, etc.

Cannot earn interest on funds

Not Part of OSU

Pros

Faster processing of paperwork

Unlimited access to bank account information

Can earn interest on funds

Cons

Extension cannot handle any of the funds for the group

Cannot serve as the mailing address

Group has to follow all federal and state guidelines regarding sales tax reporting, financial statement creation, independent audit requirements, etc.

Need to get a separate FEIN

Bank Accounts


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Part of OSU

Pros

Extension handles the paperwork expenses

Get the support of OSU Legal for signing contracts

Covered by OSU insurance for liability claims if an employee is present.

Cons

Slow and restrictive guidelines regarding purchasing due to University guidelines

Limits vendors that you can use for purchases because of Ohio Ethics Laws

Not Part of OSU

Pros

Group has little restrictions on use of funds and what vendor to use.

Faster processing of paperwork

Less documentation requirements

Cons

Extension cannot process any of the expenses for the group

No legal support from OSU

No insurance from OSU

Making Purchases


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All purchases have to be pre-approved by the County Director.

Must use the University’s buying tools

Purchase Order, Payment Request, Purchasing Card, Checking Account, Internal Orders, eStores

Initiator on the form must be an employee

Can only use vendors that are not associated with OSU

(i.e. no purchases from family members)

Can not sign contracts on behalf of OSU

(i.e. Bus Charter agreements, room rental agreements, etc.)

Most purchases take at least two weeks to process

University can deny payment if not processed correctly

More on Making Purchases

If you are part of OSU


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Part of OSU

Pros

Extension handles the paperwork for expenses and deposits

Cons

Dependent on availability of Extension Office staff

Restricted to office hours

Not Part of OSU

Pros

No restrictions on timing

No restrictions on availability

Cons

Group will spend more time on the accounting functions.

One person may have the bulk of the responsibility

Paperwork Processing


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Part of OSU

Pros

Support of University Legal Department for signing contracts and reviewing/recommending changes

Cons

It is time consuming to process contracts through OSU Purchasing or OSU Legal

State restrictions do not allow us to agree to some common terms.

Not Part of OSU

Pros

No restrictions on timing

No restrictions on terms in contracts

Cons

Group or an individual will be accepting liability for some contracts.

Group may want to seek outside legal counsel for help. Cannot use OSU.

Legal


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Part of OSU

Pros

Covered by OSU liability insurance when an employee is present.

University covers over $10,000

Can be covered by OSU Volunteer liability insurance

There may be a fee depending on the County.

Cons

May need to create a reserve since the University’s deductible is so small.

Can purchase accident insurance, but must do this through a University Purchase Order which takes time.

University coverage requires that an employee be present during the entire event.

Not Part of OSU

Pros

Can purchase a smaller policy for the group that could have a smaller deductible

Can purchase Accident insurance without a Purchase Order

May still be able to be covered by Volunteer insurance

Depends on the County

Cons

Not covered under University Insurance

Insurance


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Part of OSU

Pros

Use the University’s FEIN.

Can use the University’s Foundation (501c3) for donations and gifts.

OSU Fund numbers 3xxxxx, 4xxxxx, 6xxxxx, 590000(osurf)

University creates financial statements.

University tracks and reports sales tax.

University follows all guidelines regarding Federal and State laws for Educational, non-Profit and grant institutions.

University files tax return.

Cons

University’s restrictions can be cumbersome and time consuming.

Not Part of OSU

Pros

No time restrictions

No documentation restrictions from the University.

Cons

Must apply for FEIN independently.

Must apply for 501c3 status for accepting donations and follow all reporting guidelines.

Must understand all the federal and state rules.

Must track financial paperwork and file financial statements if necessary.

Must track sales tax and report on this to the State.

May need to file a tax return.

Federal & State Guidelines


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Summary

  • It is important to weigh all options.

  • OSU Extension depends on the County and the Master Gardener Group to determine which is the best option.

  • Every program is different!

  • There can be no overlapping of responsibilities.


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