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Student Organization Financials

Student Organization Financials. Updated 1.30.14. Accounts. Internal Internal-Deposit External. Internal Accounts. Determined by Student Organizations Allocation Board Funded from July 1 to June 30 the following year Available balance and transactions are shown in CSI Link

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Student Organization Financials

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  1. Student Organization Financials Updated 1.30.14

  2. Accounts • Internal • Internal-Deposit • External

  3. Internal Accounts • Determined by Student Organizations Allocation Board • Funded from July 1 to June 30 the following year • Available balance and transactions are shown in CSI Link • A signed Student Expenditure form required to spend funds • Can transfer funds to another student organization • All funds are zeroed out at the end of the fiscal year (June 30) Internal Account-Deposit • Deposit cash or checks into your internal account • Kept separate- will not be zeroed out, can be seen in CSI Link

  4. Internal Acct + Deposit Acct.

  5. Using the Internal Account • Requires a Student Expenditure form submitted to CSI • Signed by the Organization President/Treasurer • Signed by the organization’s Advisor • Payments take 6 - 8 weeks to be delivered • Description, date and time of event, location and approximate number of people attending must be filled out • Vendor information and TAX ID is required

  6. Expenditure Form • All invoices must be attached to form • Invoices cannot be over 30 days old • We DO NOT pay invoices from vendors that list taxes on the total balance. UB Tax exempt certificates are available from CSI. • All expenditures require approval by the Director of CSI. Contact CSI prior to your purchase if you have any questions regarding reimbursement.

  7. WE DO NOT: • Write checks or pay in cash- Vendors are paid through the state comptroller in Annapolis where it takes 6 - 8weeks for checks to be issued and delivered • Make charitable or political donations • Buy gift cards • Reimburse individuals • Pay anybody without an invoice • Pay for alcohol (except under alcohol policy), tobacco, or firearm related items • Pay for graduation stoles or cords

  8. Contracts • Students are prohibited from signing any contracts • All contracts must be signed by the UB Office of Procurement • The University will not sign any contract with an indemnity clause. This is non negotiable. • Plan ahead! Contact CSI for the approval of any contract that needs to be signed

  9. Student organization travel policy • We will only process individual reimbursement for travel to a student organization approved function or event • Travel reimbursement is for mileage, tolls and/or parking, if applicable- Also for air, train or bus as well. There is no per diem unless for a an approved conference. • Mileage reimbursement for student organizations is $.25 per mile • A Maryland state travel expense form must be submitted along with a Student Expenditure form, as well as receipts- if applicable • All forms must be signed and approved by the organization prior to travel

  10. External Accounts • Off Campus bank account • Money cannot be transferred from internal to external • Monthly Audits due to CSI must show and explain each transaction • Failure to submit audits or adhere to maximum amounts will result in the closing of account and freezing organization’s status • Misuse of funds can result in university judicial action

  11. Budget Funding Requests • 2 Budget funding periods- Initial, Supplemental • Each club submits a budget request in April • Student Allocations Board allocates initial funding to each club from July 1st until June 30th for one year • Only established clubs (active 2 or more full semesters) may apply for initial funding • All new clubs receive $200 startup funds when registered • All clubs may submit a supplemental budget request in November for funding when funds are available • Deadlines and dates will be on the CSI Website as well as emailed to each club’s primary contact

  12. Supplemental Budget funding request • Submitted in November • New and established clubs may apply for supplemental funding • For unforeseen expenses not outlined in initial budget • Same form as initial funding • All forms located on CSI Website

  13. Budget Proposals • Should be aligned with student organization’s mission • Should fund more than one event per semester • Food should not be more than 60% funding

  14. Forms and information • http://www.ubalt.edu/campus-life/csi/orgs/ops/financials/index.cfm

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