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STUDENT ORGANIZATION FINANCIAL FUNDAMENTALS

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  1. STUDENT ORGANIZATION FINANCIAL FUNDAMENTALS Gregg Jablonski Asst. Director – NE Unions Manager of Student Organization Financial Services (SOFS)

  2. YOUR ORGANIZATION IS HAVING A:DANCE, RODEO, CARNIVAL, CONCERT, BANQUET, PARTY, SPEAKER

  3. Go to STUDENT INVOLVEMENT For Event Planning Registration (EPR) ROOM 200 NEBRASKA UNION 472-2454 ROOM 300 EAST CAMPUS UNION 472-1780

  4. Have a friend DJ free of charge Must get zero-dollar contract Hire Jim’s DJ Service for $750 Must sign a contract and get a W-9 for 1099 Tax Purposes DO YOU…..

  5. FLYERS • Get cost object number from SOFS to be charged internally • Make copies at UNL COPY CENTER • Guidelines on where flyers (table tents) can be distributed from STUDENT INVOLVEMENT Nebraska Union

  6. ADVERTISING • Daily Nebraskan Ads can be billed internally • Just need your SOFS 4-digit number • Contact DAILY NEBRASKAN Room 20 Nebraska Union 472-2588

  7. POSTAGE • Bulk Mailing • Need SOFS Zip Code – 0455 • Contact MAIL & DISTRIBUTION SERVICES 1100 N. 17TH St. 472-9970

  8. IS THIS EVENT OUTSIDE? • Do you need tents? • Tables? • Trash Receptacles? • Electrical Service? • Sprinkler system turned off? Contact LANDSCAPE SERVICES 1901 Y St. 472-2679

  9. NOISE VARIANCE • Is your event outside after 10 PM? • If so, do you have $50 for a noise variance? • 14 day advance notice preferred • Contact LINCOLN-LANCASTER COUNTY HEALTH DEPT 3140 N ST. 441-8000

  10. ATTENDANCE • How large is the anticipated crowd? • Are non-UNL students invited? • What about security? • Contact CAMPUS POLICE 300 N. 17TH ST. 472-3555

  11. RISK • Is there added risk? • Do you need liability insurance? • Contact UNL RISK MANAGEMENT 501 Bldg. Rm. 128 472-8044

  12. Using UNIVERSITY DINING SERVICES (UDS) No problem! Making your own? Contact ENVIRONMENTAL HEALTH & SAFETY Prepackaged food is OK PURCHASING FOOD?

  13. TAXABLE Prepared foods If served with utensils Fountain drinks NON-TAXABLE Room temperature or cooler Not with utensils Bake sales SELLING FOOD?

  14. PEPSI? Must have 10 business days advance approval ALCOHOL? 75% of people must be over age 21 Need Vice Chancellor approvals & police enforcement HAVING DRINKS?

  15. DECORATIONS • Request an advance check • Have member purchase, keep all receipts, and fill out payment request voucher • Contact SOFS 222 Nebraska Union 472-5667 314 East Union 472-9630

  16. TAXABLE Selling for a profit Do not pay tax to vendor NON-TAXABLE Selling at face value Pay tax to t-shirt vendor T-SHIRTS

  17. PARKING • Do you need a hooded meter for your event? • Do you want to reserve a parking lot? • Contact PARKING & TRANSIT SERVICES Stadium Drive Parking Garage Ste. A 472-1800

  18. TRANSPORTATION • Do you have to rent a vehicle for your event? • If so, then will you also need Field Trip Insurance? • Contact TRANSPORTATION SERVICES 1931 N. 14TH ST. 472-2422

  19. TAXABLE Required admission fee Suggested donation amount NON-TAXABLE Free will donation ADMISSIONS • Will you need a cash box?

  20. RAFFLES • Raffle tickets are non-taxable transaction • Must keep extra raffle tickets and winner tickets • Get copy of Raffle Rules & Procedures

  21. GROUP TRAVEL • Can get an advance check for hotel fees, conference registration, and flights • Must have list of all members going, their NU IDs, and emergency contacts for Field Trip Insurance • Turn in 48 hours in advance of departure

  22. FACULTY MEMBERS • Payments for services must go through UNL payroll office • Reimbursements can be processed as normal

  23. MONEY MADE • All money must be deposited immediately into your RSO’s SOFS account • DO NOT use the money collected to pay for expenses • Deposit all money first, then request reimbursements

  24. SALES TAX • DON’T SHOOT THE MESSENGER! • See Sales Tax handout

  25. N-Card Use • Membership Dues can be paid using a student’s N-Card • Available at both City & East Campus SOFS • Must have 4-Digit SOFS number to make transaction

  26. UNL By-Law • All student organizations are prohibited from opening an outside account on behalf of an organization. • RSO may be funded by affiliated outside entity. • RSO may be funded by a University Department.

  27. Student Org. Need to Knows • Your four-digit student organization number is your student organization’s financial identity within SOFS and the university. • Budget Year = Fiscal Year 7/1/09 – 6/30/10

  28. SOFS PROCEDURES • Account Balance Confirmation must be returned to stay in compliance • Emails are OK in place of a signature of approval • Training sessions are available upon request

  29. Treasurer Responsibilities • Keep all financial records of the organization • Pay organization bills • Collect organization dues • Prepare and submit financial reports to the members

  30. Treasurer Responsibilities Cont. • Prepare an annual budget • Be familiar with SOFS procedures and policies • Advise members on financial matters (i.e., vendors, ticket selling procedures)

  31. Key Considerations • Cash/funds handling • Timely deposits • Documentation of Disbursements • Disbursement approvals • Review Your Monthly Statements • Advisor involvement - keep them informed

  32. Critical Control Point • Two signatures are required for all Payment Request Vouchers – the treasurer or president and the advisor

  33. If You Suspect Dishonesty In Your Organization • Any suspected financial irregularities or shortages should be reported to SOFS management, Operations Analysis, and/or University Police immediately. • Do not delay reporting as delays make investigating the suspected irregularity or shortage more difficult. • Donotconfronttheindividual yoususpect; leave this for the professionals at the appropriate time in the investigation.

  34. LOCATIONS • City Campus SOFS 222 Nebraska UNION 402-472-5667 • East Campus SOFS 314 East Campus Union 402-472-9630

  35. Questions and Answers