Treasurer’s Workshop Fiscal Year ’09

1. Treasurer’s WorkshopFiscal Year ’09 Presented by: Blanka Caha & Ben Porter 9/9/08, 9/10/08 & 9/15/08

2. IMPORTANT INFO! • Collegiate Links - Updates • Mailboxes • Club Signers Book • Budget Requests / Allocations

3. Financial Calendar • Used to outline the major dates and deadlines throughout the fiscal year • Can be found online at the SGA website www.uvm.edu/sga and in your copy of the Treasurer’s Manual. • Varies slightly from year to year, make sure to stay on top of important deadlines from the finance office.

4. Account Details • Authorized signers: two club members who assume responsibility for the club’s financial matters (generally the President and Treasurer). These people are the only ones from the club permitted to authorize spending, and one of their signatures before the Finance Office will approve spending. • Source numbers can be attained online and in the SGA Finance Office, they are a six number link to your account. • For account balances, direct all requests to Jessica, Ben or Blanka. You should generally know your club’s account balance, and be using the Finance Office merely for verification.

5. Budgeted Fund (130) • Amount determined by the SGA Finance Committee in the spring of the previous fiscal year during the budgeting process. • Generally, it can only be spent on those things approved in the detailed budget breakdown. • Redistribution can occur, but only with written approval from the SGA Treasurer after attending a scheduled meeting to discuss the request. • All funds left in the account at the end of the fiscal year (both semesters, june 30th 2009) will be rolled over into the general fund (SGA) for re-distribution in the upcoming year. The club does not retain ownership of unspent funding in this account.

6. Fundraised Fund (131) • Funds that are raised or donated to the organization • This fund can be spent on many things that the SGA does not budget for, such as food or other items that were left out during the budgeting process. • The general rule is money must be spent to benefit the ENTIRE club and its goals. • Procedure for spending from this fund follows the same rules as the budget (allocated) fund, but it is not limited to that which was approved by the Finance Committee during the last fiscal year. • At least $100 must be deposited in this fund by the end of February 2009 (beginning of the budget hearing process) or an automatic 10% cut will incur on the next year’s allocated budget amount. Clubs that fundraise show an investment in the future stability of their organization, which is reflected in SGA readiness to support club financial growth. • Funds left over at the end of the fiscal year in this account will be rolled over into the club’s fundraised fund for the new fiscal year and not into the SGA General fund, as the budgeted fund is.

7. Frozen Accounts • Club accounts may be frozen for a variety of reasons • This means that the club will have no ability to access money from either their budget or revenue account, placing a hold on all spending until the issue is resolved. • Accounts can be frozen due to: • Defaulting on a loan • Not staying “in good standing” • Failure to repay petty cash • Not sufficient balance in account/overdrawn account • Unfreezing Accounts: resolve the issue that froze the account, or get approval from the SGA Treasurer.

8. Vehicle Rental • All drivers must be 18 years old, certified by Risk Management, and have a valid driver’s license. • Becoming Certified by Risk Management requires taking a safety course. • Check Risk Management Policy on their website, and sign up club members to take a van certification course: http://www.uvm.edu/~riskmgmt/ • Vehicles are available through the SGA or outside vendors: • If reserving a van with the SGA, please go and see Jess in the SGA Offices no more than 4 weeks prior to the trip. (Keep in mind that spaces fill up quickly, so the sooner you can reserve a space the better) • Outside vendors (Thrifty, Lamoille Valley Transportation, Mountain Transit) – purchase orders need to be filled out prior, with detailed information (confirmation number, rental dates, at least two certified drivers/van). Do not use Budget rent a car, please.

9. Bus Rental • The SGA will fund for chartered school buses if the trip is more than 200 miles round trip requiring more than two vans for those club sports categorized as “highly competitive” • Clubs will need to pay the difference for chartered coach busses from their Fundraised Fund • Funding must be acquired through supplemental funding (information to follow) PRIOR to renting the bus • Clubs may fund a bus on their own, however Risk Management requires high standards of insurance, so ensure the company you choose is approved.

10. Purchase Order Request (PO) • Most vendors accept Purchase Orders, which is a legal promise of payment from the University • You submit the Request 7 BUSINESS DAYS in advance. If you need it Friday you MUST give us the Request by WEDNESDAY AT 1pm OF THE PRIOR WEEK!!!

11. POs Continued… • Do NOT commit any money to any vendor until a Purchase Order is processed. • Be sure to have ALL necessary information (vendor information, independent contractor form, vendor invoice, or estimated price & order form) or your Request will not be processed, respond promptly to any notification from the Treasurer of problems with a PO to ensure payment is made as soon as possible. • A copy of the PO Request will arrive in the club’s mailbox, as proof that the Request has been submitted, and does not mean that it has been approved • You will be contacted if any problems arise when processing your Request, otherwise, you can expect for your request to go through on time

12. HOW TO FILL OUT PO Have an Amount– even for just a PO!! Hurry, and ASAP are NOT a date!! Select the fund (s) the money is coming from And one of the four options below! Remember: For a check – you must have some type of quote/ invoice/statement saying you owe the vendor something! Give the FULL vendor name and Address, this includes the Zip Code!!!!! When Rentinga vehicle/bus give ALL of this information

13. Special Purchases • Ordering products with University symbols • Must fill out licensing waiver • Payment for an individual providing a service • Must fill out Independent Contractor Form (which requires person’s SSN) or W-9 Form • Must have a contract --- new rule apply!!! • Coaches and other temporary employees do not fall under this category • Office Supplies • Use Office Max, our contracted vendor

14. Special Purchases – Food • Generally, food is not funded for through the SGA unless it meets one of the following requirements: • Educational purpose coinciding with club’s mission • Culture/Religious group function • Ex: holiday dinners/meals • Meals for a speaker and two club members with prices as follows: • Breakfast - $10.00/person • Lunch - $15.00/person • Dinner - $20.00/person • Meals for a club retreat: • $5.00/day/member for no longer than a 48 hour period • Catering on campus is subject to other policies, such as Sodexho waiver approval, which is needed for any outside catering on campus with the exceptions of 1) purchase of pizzas under $250.00 and 2) catering by University approved vendors. • NOTE: Catering on campus is submitted online through an SGA account only and requires 2 weeks for approval. Please see Blanka or Jess for additional information.

15. Credit Card Charge • A club can charge their purchase to a credit card if no other form of payment is acceptable (i.e. hotels, plane tickets, internet order) • Can be arranged during the Finance Office business hours only • NOTE: There is a new credit card form, please no longer use PO forms for credit card orders!!

16. Petty Cash • USED SPARINGLY!! Responsibility is placed solely on the individual • Form is approved by the SGA Office and Cashiers’ Office • Short term fund • Must close out with receipts and/or cash on time!! • One Petty Cash open at a time/club

17. Loans • Loans can be made with the approval of the SGA Treasurer • Loan payment schedule shall be determined by the club representative and the SGA Treasurer during the loan hearing • NOTE: The SGA reserves the right to derecognize any organization failing to repay a loan • No interest applied

18. Deposit • Used to deposit cash and checks to club accounts • ALL FUNDS RECEIVED MUST BE DEPOSITED • Also used to return unused petty cash ------------------------------------- • Absolutely NO account out of the University system!

19. The Charge Card (“The Orange Card”) • Works for expenses incurred within the University • i.e. Print and Mail & Bookstore with up to a 30% discount. • Expense charged directly to the club account • Each card is only valid for one transaction, and must by authorized by an SGA authorized signer (Jess/Blanka/Ben)

20. Chartstring • Used to reserve space on campus through R25 • Chartstring is the complete information on your “account” – used in all other transactions processed through the PeopleSoft.

21. Additional Funding • The SGA supplies additional funding for both existing and newly recognized clubs • The funds include: Supplemental, Gas Supplemental, Capital, Nationals, Diversity Enhancement, Uniform Fund, and Student Professional Development Fund. • Submit the appropriate forms to Jess by noon on Monday, who will then schedule a hearing with the Finance Committee (who meet every Monday night when school is in session) • No hearing required for Gas Supplemental (advisor’s signature not needed • Requests under $2000.00 do NOT require an advisor’s signature Note: The more detailed the information provided on the form the better!!

22. Supplemental Funding • Supplemental Funding can be utilized for items/events not included in the original budget request/allocation or for new club’s wishing to purchase an item/hold an event • i.e. hotel rooms, flights, van rentals, supplies, equipment and materials, as well as outside people and organizations • General guidelines: • Hotels: Up to, but no more than $100 per night, per room shall be allocated with 4 people staying in each room • Flights: Up to, but no more than $900 shall be allocated to any club for airline tickets during each semester for two people • Vans: Up to, but no more than $90 per day shall be allocated for van rentals. • Traditionally, 75% of any “fee” shall be allocated • Food can be allocated through this fund, if the APPROPRIATE criteria is met (refer to Special Purchases – Food slide)

23. Supplemental Form

24. Gas Supplemental Funding • SGA does not budget for gas during the budgeting process • Mapquest print-out of the trip, with route and total miles traveled must be brought with you to the Finance Committee hearing • Estimate the gas expense for each trip with the average gas price at the time, based on the mapquest print-out provided • Must be done before trip. • Finance Committee will get more exact numbers when the request is considered

25. Capital Project Proposal • Special Funds available for tangible items durable for five years or more • Bring price estimate for the purposed purchase and any additional information supporting the allocation

26. Diversity Enhancement Funding • Utilized to fund for events of a cultural or religious nature in order to enhance diversity and benefit the campus as a whole • i.e. holiday events, speakers, etc… • Must be an on-campus event • Food can be allocated for events supporting diversity • Same monetary guidelines apply as with regular supplemental funding

27. Nationals Funding • Used for qualifying national events • Full registration fees can be allocated through this fund, and this fund only • Other general guidelines follow the same as supplemental funding, with more flexibility in regards to the maximum amount of funding that will be allocated

28. Uniform Funding • Used as an aid from clubs to gain uniforms, not to fully fund for their purchase • Once a club has utilized this fund, they will not be permitted to access it again within a three year period. • Clubs must show evidence or intention of fundraising for the purpose of buying uniforms • Clubs must show a detailed plan of how they intend to monitor the distribution of the uniforms to ensure that none are lost or stolen.

29. Student Professional Development Fund • Newly created fund available to UVM Students who have achieved significant recognition for work/services in their field of study and that will help them to further enhance their knowledge through conferences, seminar, etc… • Not to be used as an internship stipend/funding • Detailed proposals are to be submitted to SGA Leadership for review and allocation • Contact Ben for more information

30. Reserving Space • Reserve space at www.uvm.edu/wv3 converted to http://resource25.uvm.edu, called R25, easily found under UVM A-Z. • Clean up after yourself to prevent unnecessary charges from Concerts and Events Services!

31. Questions?