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Financial Board Workshop

Financial Board Workshop. Spring 2011. Allocation/Re-Allocation Using funds Reminders. Overview. 10-day period held at the end of each semester Request for funds to cover expenditures for planned events/activities

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Financial Board Workshop

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  1. Financial Board Workshop Spring 2011

  2. Allocation/Re-Allocation • Using funds • Reminders Overview

  3. 10-day period held at the end of each semester • Request for funds to cover expenditures for planned events/activities • Clubs with annual budgets allocate in the Spring only (Fall Allocation Period- planned in advance) Allocation Period

  4. Submit printed/signed copy to the CFO mailbox in the SGA Office (SC 347) • E-mail electronic copies to • sga.cfo@marist.edu • robert.lynch@marist.edu • michele.williams@marist.edu • Subject- “(Your Club’s Name) Allocation” Allocation Period

  5. Happening now (beginning of semester) • Budgets have been reviewed by the Financial Board and returned to Club mailboxes Re-Allocation Period

  6. Read comments and re-allocate accordingly • PLEASE schedule meetings ASAP if requested (Use the sga.cfo@marist.edu e-mail to contact the Financial Board) Re-Allocation Period

  7. ONLY include events that were not approved • New events (not included in the original Allocation) will not be considered Re-Allocation Period

  8. “Emergency” • Written explanation must be provided (Why this event was not included in the Allocation) • Approved on case-by-case basis, and depending on the availability of additional funds Emergency Allocations

  9. Can be made if another event cannot occur • If approved, the allocated funds will be transferred to the new event • Also requires an explanation (please e-mail Financial Board) Request to Switch Funds

  10. Schedule a meeting with the Financial Board OR • Submit during Re-Allocation period with an attached letter from the new Officers If you did not Allocate…

  11. Reserve room(s), advertise/promote, and confirm all details with the College • Adhere to Club Affairs Policies (hold required events, complete evaluations, take attendance) • Funds must be spent… it is YOUR responsibility to make sure plans are executed! Holding Events

  12. Plan ahead!!! • Submit requests well in advance to avoid scheduling conflicts and meet deadlines • Check processing schedule posted online and in the SGA Office Accessing Club Money

  13. The following forms can be found in the SGA Office: • Petty Cash Slip • Check Request • Purchase Order • Sodexo Catering Contract Types of Paperwork

  14. Petty Cash

  15. Used for purchases $50.00 and under • Can be used in advance or to reimburse you for your purchase(s) *Same as Check Request Petty Cash

  16. Check Request

  17. Used for purchases over$50.00 • Circle type of request at the top • Also used for membership dues *Attach official membership list Check Request

  18. Purchase Order

  19. Used for ordering supplies or services rendered-payment made directly to vendor • Requests must be made prior to the exchange of goods/services • Include supporting documents (invoice, quote) • Request a W-9 form!!! Purchase Order

  20. Bring to Catering Manager’s Office (in the Dining Hall by the Midrise entrance) *Appointment may be needed • Select food for your event according to menu • Contact must be signed before it is turned in Sodexo Catering Contacts

  21. “Financial Board Information” is posted in the SGA Office (Cabinets to the right) • Sample forms, expense account codes, club/activity codes, and instructions included • PLEASE try not to leave anything blank… Filling out Forms

  22. KEEP RECORDS UPDATED AND ORGANIZED • Necessary for a successful transition • Always know your Account Balance • Allocated funds are SEPARATE from generated income (fundraised money, dues, etc.) Important Reminder #1

  23. ALWAYS MAKE COPIES OF YOUR RECEIPTS • For a cash advance, (Petty Cash and Check Request) return them to the Business Office in Donnelly with leftover money • For a reimbursement, make a copy for your records and attach the original Important Reminder #2

  24. USE A TAX EXEMPT FORM • Available at the Office of College Activities • You will NOT be reimbursed for tax paid on your purchases Important Reminder #3

  25. NEVER EVER EVEREVER use a Credit Card • Use a purchase order if needed • Contact College Activities for extreme circumstances (paying for lodging, etc.) WELL IN ADVANCE! Important Reminder #4

  26. YOU CANNOT REQUEST MONEY YOU DON’T HAVE • If you do not have money in your account for the expenditure OR enough generated income, do not try and obtain funding for it Important Reminder #5

  27. READ THE “CLUB TIP TUESDAY” • Pay attention to important dates/deadlines • Follow directions in order to remain in good standing as a Club Important Reminder #6

  28. “Banner” has eliminated the use of carry-forward funds • Use all generated income during THIS fiscal year (Ends July 1, 2011) • External accounts are prohibited- see me if you need to arrange a way to spend the money New System

  29. Complete a Re-Allocation if necessary • Begin preparing for officer transition • E-mail me at sga.cfo@marist.edu with questions or stop by during my office hours What’s Next?

  30. MONDAYS…………………..…………………………….2PM-4PMMONDAYS…………………..…………………………….2PM-4PM WEDNESDAYS……………….………………………….2PM-4PM THURSDAYS……………………………………………..1PM-3PM Office Hours

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