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Treasurer Training Clinic

Treasurer Training Clinic. Fiscal Year 2011. Requirements to Receive Funding. Must be registered with and in a good standing with: Center for Student Organizations and Leadership Development (CSOLD) and Senate Finance Committee (SFC)

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Treasurer Training Clinic

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  1. Treasurer Training Clinic Fiscal Year 2011

  2. Requirements to Receive Funding Must be registered with and in a good standing with: Center for Student Organizations and Leadership Development (CSOLD) and Senate Finance Committee (SFC) Must be recognized for 52 weeks before submitting a budget request Must be recognized for 15 weeks before requesting funding from the Reserves

  3. Available Accounts On Campus Accounts Student Activity Account – 334xxx Agency Account – 900xxx Off Campus Accounts – available only with the permission of Business Office and SFC Why On Campus Account is better than Off Campus Account Easy to use and keep track of your money It is easier to withdraw funds even when officers are changed at the end of the year

  4. Agency or 900 Account Used as a checking account To open one, fill “Request for Agency Account” form (Business Services website or CSOLD), and send to AS 124 for approval Processing time is usually 5 business days Deposits usually include: Fundraised Money Club membership dues Other funds such as revenue from ticket sales Payment/Reimbursement Method – 1400 Forms (no Purchase Orders)

  5. Student Activity or 334 Account Funds come from Student Activity Fees Funds are allocated through SFC only Funds do not roll over from year to year New Fiscal Year starts July 1st So if there are any outstanding payments make sure to take care of them by June 30th Two ways to get funding in this account Submitting budget proposal in the Spring Semester Using the four available Request Reserve – one per Fiscal Year

  6. How to Get Money in 334 Account Submit budget proposal before December 17th deadline Operating Budget Programming Budget (a maximum of $10,000/organization) Come to the appeals process if needed after the budget allocation Request funds from any of the four available reserves-you can receive one approved request per Fiscal year for each of the following; Free Balance Reserve Equipment Reserve Speaker Reserve Interpreters Reserve

  7. What You Should Be Spending Your Money on? The programs listed on your budget The spending should match the line items provided in budget proposal Exemptions can be made, if SFC is notified in advance

  8. We Have Zero Balance? Possible Options Fund raising, contributions or donations Request money from any of the four special reserve categories

  9. Free Balance Reserve Request Any organization may be allocated Up to $750.00 without any fundraised dollars Up to $1,250.00 Fundraised dollars can be matched dollar for dollar No more than $2,000.00 will be allocated per request Free Balance Reserve Request shall be submitted 4 weeks prior to the funds needed An organization is allowed only one approved Free Balance Reserve request per fiscal year

  10. Speaker Reserve Request An organization may be allocated no more than $800.00 for speakers/entertainers per event Organizations may co-sponsor a speaker, the maximum allocation from this fund will be $1,800.00 Funded organization must enter into a formal university contact with the speaker before Funds are transferred into the 334xxx account If the speaker is an employed member of SCSU he/she can not be paid from the budget or reserve accounts A written request should be submitted at least 6 weeks prior to the need for funds and only one request is allowed per Fiscal Year

  11. Equipment Reserve Request All equipment, purchased with Student Activity Fee, remains SGA/SFC and university property No more than $2000 Dollars will be allocated per request The equipment must be stored on campus in a pre-approved location Organizations are responsible of replacing or repairing damaged or lost equipment, and no warranties will be funded One Equipment Reserve Request per Fiscal Year

  12. Advertising All advertising for events paid by the Student Activity Fee (334) account must be posted for 7 days prior the event All printed advertisement material must include the statement “Funded by your Student Activity Fees”

  13. Admission Fees The hosting organization is responsible for setting ticket prices that meet expenses for the event and still encourage attendance The $2.00 rule is no longer required by SFC Policy Events are expected to be managed so that revenue exceeds expenses however excess profit (defined as $500 or more) will be considered in future requests for funding.

  14. Conferences/Competitions/Seminars Funds for these events are not allocated during the regular budget allocation process Funds must come from one of the Senate Finance Committee reserves – Free Balance Reserve You can be funded for these events only if they are educational in nature and benefit the whole campus No more than $2,000 or $50 per person per night (whichever is less) will be allocated for these events Must show proper documentation

  15. Things that SFC Does Not Fund Foodthat is not a major component of an event, essential to the events purpose Alcohol or any equipment with the explicit purpose of its production Awards, award ceremonies and/or trophies Banquets Contributions to charitable organizations or individuals Equipment – not stored on campus Fundraisers—includes set up, promotion, and/or costs Gasoline purchases Gift offerings Raffles

  16. Things that SFC Does Not Fund Illegal drugs or related paraphernalia T-Shirts and uniforms that can not be reused Membership Fees Personal loans to individuals Personal Items Prizes Recruitment events Scholarships Weapons Etc….

  17. Audits Senate Finance Committee audits each student organization at least one time during the fiscal/academic year Tips to be prepared if SFC audits your organization Keep receipts for all purchases for a minimum of 1 year Keep all financial records for at least 7 years Keep the purchased equipment in good condition Make sure you deposit all revenue from tickets sales in your agency 900 account Violation of SFC policies might result in freezing of 334 account wholly or partially

  18. Unfreezing Funds Must submit a written request at least 3 weeks prior to the event Requests should be submitted to the Senate Finance Committee Chair at Atwood Memorial Center Room 138D Have the signature of the student organization president and the advisor of the group

  19. Reimbursements Purchasing Department Located in the Administrative Service 122 Responsible for approving purchase orders, contracts processing, and issuing reimbursements and payments Purchase Orders Preferred payment method for student activity or 334 account 1400 Form Payment method for the agent or 900 account No sales taxes are reimbursed Student organizations are a non profit organization. Therefore, any purchase made is subject to sales tax exemption.

  20. SFC Important Dates

  21. Questions?

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