1 / 12

Managing Your Money

Managing Your Money. Aurora Israelson Heather Bisher. Objectives . To understand how Hall Accounts work as well as the mechanics of how to use Hall Accounts (depositing, spending, S#s, etc) To learn how to effectively keep track of hall funds and budget them correctly

usoa
Download Presentation

Managing Your Money

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Managing Your Money Aurora Israelson Heather Bisher

  2. Objectives • To understand how Hall Accounts work as well as the mechanics of how to use Hall Accounts (depositing, spending, S#s, etc) • To learn how to effectively keep track of hall funds and budget them correctly • To learn how to work with SSMs and Hall Council treasurers regarding funding • To learn how to request funds for programs/events

  3. How to Get Started • 9 Student Staff Members • Hall Council • LLCs (i.e. SCP) The first coin minted in the US was a silver dollar. It was issued on October 15, 1794.

  4. S#s, Transfers, Deposits, and Reimbursements • It’s practice time! • Tips The Federal Reserve shreds 7,000 tons of worn out currency each year. As you probably guessed, the note most frequently replaced is the $1 bill. There are currently four billion $1 bills in circulation, and the life expectancy of each is approximately 18 months.

  5. A Matter of Style • Two examples • Excel Spreadsheets (see ORL website) • Tips/Suggestions • Ours • Returners A quarter has 119 grooves on its circumference. A dime has one less.

  6. Managing the Budget • Reconcile Monthly • Record S#s, Transfers, Deposits, etc as you go along (don’t wait 2 months to try to catch up!) • Keep ALL info in ONE location • Staple, paperclip, or keep all receipts in one location somehow During the American Revolution, inflation was so great that the price of corn rose 10,000%, the price of wheat 14,000%, the price of flour 15,000%, and the price of beef 33,000%.

  7. 15th of Each Month (new statements come out on MINE) You’ll go over your budget with your supervisor 3 times a year. October 15 February 15 Hall Closing ** These dates may vary! Dates to Remember Until the 20th century dogs’ teeth were used as money by Solomon Island natives.

  8. Utilizing Additional Funds • LLC vs. RHA Funds (see website) • Staff Development Funds It costs more to buy a new car today in the US than it cost Christopher Columbus to equip and undertake three voyages to and from the New World.

  9. Working with SSMs • Be clear in expectations of appropriate fund usage • Be clear in directions/instructions on how to get money • Some might get very confused so be very step-by-step with them • Keep reimbursements to a minimum America once issued a 5-cent bill.

  10. Working with your treasurer • It’s very similar to working with your SSMs! • Make sure you work with the treasurer so that they get the experience of managing an account • Share the responsibilities for fiscal oversight • Tips from returning staff Until the 19th century, solid blocks of tea were used as money in Siberia.

  11. Contact Info • Lindsay Hubbard • Prefers Email: hubbarlm@muohio.edu • Call: 9-6123

  12. THANK YOU! Happy Budgeting!

More Related