What’s an invoice? A Guide for Club Treasurers

1. What’s an invoice?A Guide for Club Treasurers

2. Club Treasurer’s Duties • Plan budget for club, working with other club leaders • Work with SGA Treasurer to keep track of club’s finances • Processes all financial transactions for club • Keep track of invoices (bills) and other paperwork • Petition for funds from SGA Finance Committee and Executive Board

3. The Role of OSE • OSE’s role: • Ensures compliance with college policies • Reviews ALL contracts- no contract can be signed solely by a student • Maintain forms used to conduct SGA and club business • Help answer questions about event planning and budgeting • Stacy’s role: • Liaison to clubs & organizations • Works with SGA treasurer to process payment for all club bills every Tuesday • Along with SGA treasurer, can provide updates on club fund balances

4. The Role of the Controller’s Office • Maintains records of all financial transactions for clubs • Provides updates on a monthly basis to OSE/SGA Treasurer- get updates from them, NOT Controller’s Office • Processes all check/payment requests received from OSE • Processes deposits of fundraised money for clubs • Disburses authorized cash advances and reimbursements (petty cash) to treasurers

5. Club Transactions: Petitioning • Requesting funding from SGA for club events • Petition form is available on SGA website (http://blogs.goucher.edu/sga/) and in OSE (Pearlstone, 2nd floor) • Petitioning process: • Fill out as completely as possible- use the Petition Criteria and Checklist form. • Contact Gabe Stuart-Sikowitz (VP for Finance) if you have questions • Drop off in Gabe’s mailbox in OSE by Friday at noon. Keep a copy for yourself. • Gabe will assign you a time to present before Finance Committee on that Sunday night. For requests above $250, you will also need to present before SGA Executive Board on Monday night. • Spring/Fall Budgeting • Submitting a one-time request to fund the club for the following semester. • Must be prepared with budget and documentation for different events • Great way to be ready to go for following semester!

6. Club Transactions:Contracts • When do we need a contract? • When hiring entertainment for an event • When hiring a speaker to present • When lessons are being taught on a regular basis (ie: yoga, gymnastics, martial arts) • Basically, any time someone is providing a service. • When in doubt, ask OSE! • How do we get one? • Need to talk with OSE- we have a standard, simple contract that we strongly encourage you to use • Need to have contract signed by vendor, you, and Emily Perl (or designee) • Plan at least a month in advance!

7. Club Transactions:Waivers • When are we required to have participants sign waivers? • Events that carry significant risk (rides, games, inflatables, etc) • Activities require physical contact (yoga, gymnastics, rock climbing) • Students are traveling off campus for a Goucher club activity • Does OSE have a waiver we can use • Yes! We are happy to share that with you. If you think you’ll need waivers, stop by OSE. • What is we don’t sign waivers? • We may not be able to pay your bill. So, please be sure to ask if you think you’ll need a waiver.

8. Club Transactions: Methods of Paying Bills • Check request- strongly preferred • Used to request a check for services or goods in agreement with petition that was approved by SGA • Attach invoice/bill/any documentation • Include your club’s account number on form • May need to have a W9 form filled out- check with Carol and/or Stacy about this • SGA credit card • For online purchases. Contact Carol, Dashell , or Gabe for help here • Petty cash voucher (reimbursement) • Gets your reimbursed for expenses paid out of your own pocket- less than $100 (any reimbursement over $100 will be a check) • MUST have original receipts • Cash advance • Used to get money up front for club activity • Can be no more than $250 • Clubs can have NO MORE than 1 outstanding cash advance at a time • Must be settled within 2 weeks- which means going back to the Controller’s Office with receipts/s and any leftover cash • LEAST PREFERRED OPTION!

9. Club Transactions:Transfers • When in the transfer form used? • When your club is granted funds from SGA- funds are transferred into your club’s account • Processed by Carol and Stacy once/week • When you are paying another club or office at Goucher

10. Club Transactions:Deposits • For money raised through fund-raisers or ticket sales • Deposit slips are available in OSE • Take completed slip and cash to Controller’s Office to deposit • Be sure to deposit into your fundraising account (_______-22900-0-1) rather than your general account (_______-51000-0-1)

11. Review of Sample Forms • Petitioning for SGA Funds • Petitioning Criteria & Checklist • Transfer Form • Check Request • Petty Cash Voucher • Cash Advance Voucher • Deposit Slip • Compensation Form • MUST TALK TO STACY BEFORE AGREEING TO PAY STUDENT, FACULTY, or STAFF

12. Club Petition Form – Page 1

13. Club Petition Form – Page 2

14. Check Request Form

15. Petty Cash Voucher Form

16. Cash Advance Voucher Form

17. W-9 Form

18. Transfer Requisition Form

19. Other things to know… • Keep copies of paperwork for your records. • Petty cash reimbursement and cash advances are available Monday through Friday 8:45am to 5:00pm in the controller’s office. You must have signatures from Carol and Stacy, so don’t wait until the last minute! • The college does not reimburse for sales tax. Please present to the vendor Goucher’s sales tax exempt card.

20. Other things to know…continued! • Fundraised money • Still must follow college policy in spending this money • Follow same payment process to access this money- check request, petty cash, etc. • Plan ahead! • Checks are printed once a week in the controller’s office. Paperwork must be submitted to Carol by Tuesday morning for a check to be cut by Friday. • Take-backs • SGA “takes-back” unspent allocations from the previous year and will make certain standard allocations into specific accounts. • The Controller’s Office will draft the take-back entry and submit to the SGA Treasurer for review, comment, correction and approval. • Takes place in September

21. Common Problems • My petition was rejected. What do I do? • Ask the Vice President for Financial Affairs for help. • I was told my club’s accounts have been frozen because a cash advance is outstanding. • Obtain original receipts and the balance of the unspent funds and turn them into the controller’s office to unfreeze the account. • My club is out of money! • Make sure that all transfers have been properly accounted for, keep all the petitions that your club has made and use as proof of transfer

22. Recap • Use Club Petition Form to request funds from SGA • Be sure to use the Petition Criteria and Checklist form • Plan ahead! Don’t wait until the last minute to request money for your event. • When in doubt, ask for help from Carol, Gabe, or Stacy- we’re happy to help!