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Student Organization Financial Procedures Training

Student Organization Financial Procedures Training. Office of Student Life McD 170 & 171 (202) 662-9292. http://georgetownlaw.orgsync.com/home. Financial Training Agenda. Student Bar Association budget allocation process Office of Student Life

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Student Organization Financial Procedures Training

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  1. Student OrganizationFinancial Procedures Training Office of Student Life McD 170 & 171 (202) 662-9292 • http://georgetownlaw.orgsync.com/home

  2. Financial Training Agenda • Student Bar Association budget allocation process • Office of Student Life • Role of Organization Treasurer vs. SBA Treasurer • Budget Allocation • Budget Rollover and Audits • Supplemental Funding • National Dues, Conference Expenses & Honoraria • Travel and Transportation • Reimbursement Process for small and large sums • Contracts Process and Information • Standard Terms and Conditions • Independent Contractor Agreements • Honoraria • Catering: Options and payment information • Preferred Vendor Catering • External Catering • Internal Catering • Simple Catering • Important Financial FYI’s

  3. The Office of Student Life OSL Staff is available and happy to assist organization treasurers! In McDonough 170, you may: • Complete all necessary paperwork for reimbursements, payments, contracts, etc. • Check your organization’s budget in the online University system and clarify issues with your OrgSync treasury • Pick up easy pay vouchers for simple catering • Approves organization fundraisers

  4. Student Bar Association and Student Organization Treasurer Responsibilities SBA Treasurer Organization Treasurer Keeps record of student organization expenses Completes all financial paperwork to reimburse individual members and/or pay vendors Works with Coordinator of Student Organizations to coordinate contracts with outside vendors Attends financial trainings each semester • Approves semester and/or yearly organization budgets • Approves non-line item budget expenses • Approves supplemental funding • Approves payment of honoraria • Conducts audit of organization budget each semester

  5. SBA Budget Allocation

  6. Requesting a budget • Organizations may request a budget in the Spring for the following year, or choose to submit budgets twice yearly for the following semester. Information on the allocation process and paperwork can be found on the Student Bar Association website.

  7. Budget Rollover and Audits • Rollover of Student Organization Funds • The SBA allocates funding for specific purposes and the Treasurer must be consulted for permission to roll over funds from fall semester to the spring semester. However, your funds will not rollover from year-to-year. All money left in your GX account at the end of the academic year is given back to the Law Center.   • Budget Audits • All student group budgets will be periodically audited throughout the year. The audit will check to ascertain if student groups are spending their budgets in the manner in which they were approved by the SBA Appropriations Committee. For semester allocations, SBA may audit organizations at the end of each semester and take back unused funding. If you believe you student organization will need to make significant changes to your budget you must consult the SBA treasurer.

  8. Supplemental Funding • The purposes of supplemental funding are: (1) to provide funds to student organizations for unforeseen circumstances or unique opportunities; and (2) to provide funds to new and formerly inactive student groups classified by the committee as provisional groups.  • A majority of votes cast in the Committee shall be required to approve any funding decision over $75.00, and a majority of the membership of the House of Delegates shall be required to approve any funding decision over $500.00. • The Supplemental Request form is available on OrgSync in the SBA-Forms Module. Please submit requests at least 2 weeks prior to your event, 3 weeks if you are requesting $500 or greater.

  9. National Dues, Conference Expenses & Honoraria • National Dues: • SBA generally will pay national dues for student organizations in order for that student organization to remain in good standing with the national organization. SBA may consider membership dues and dues to national organizations when deciding a group’s budget. • Conference Expenses: • SBA will not fund conference transportation or accommodations. Exceptions may be considered for conferences within 60 miles of the Law Center • SBA may pay for conference dues and fees up to 50% of the cost per person, but not exceeding $250.00 total. On some occasions, SBA will consider exceptions to this policy. • In general, SBA will not fund national or regional conferences hosted by student organizations. • Honoraria: • The value of the total honorarium given for a single event will generally not exceed $250.00. Barring exceptional circumstances, the Committee should not approve more than one honorarium per student organization per semester. • For speakers outside the GULC community, student organizations may not pay for airfare or include airfare in a speaker’s fee, but may fund reasonable ground transportation from a DC airport to an area hotel or GULC, and back.

  10. Travel and Transportation • The Student Travel Committee meets three times annually to review student-initiated travel funding requests.   For more information, guidelines, and the application visit the Student Travel Committee website. • The SBA Appropriations Committee shall consider funding and/or reimbursement of transportation costs based on the nature of the event, beneficiaries, impact on the Law Center community, and budget of the organization sponsoring the event.

  11. Reimbursements

  12. The Reimbursement Process

  13. Petty Cash Reimbursements • Reimbursements of $75.00 or less may be reimbursed through petty cash. • You will need: • Original itemized receipts that indicate payment method (i.e., credit card). If the receipt does not show method of payment, you will also need to provide a bank statement. If you paid in cash, please be prepared to write a memo explaining the financial transaction. • The university is tax exempt, remember to provide the appropriate Tax Exempt Certificate to the vendor. • Petty Cash form (also available in OSL, McD 170) • Signature of organization Treasurer or President

  14. Petty Cash Reimbursement Cont’d • For petty cash reimbursements, bring a completed petty cash form with receipts to OSL, McD 170 for approval. After your forms are approved, please make two copies of the form and receipts (3 copies total), and take all 3 copies with GOCard to Student Accounts in McDonough 581. Reimbursement services are available Mon-Friday, 10am – 3:00pm.

  15. Reimbursements over $75.00 • You will need: • Original itemized receipts that indicate payment method (i.e., credit card or credit card statement). • A vendor ID: Complete online W-9 at the Vendor Registration Site. • Completed Expense Voucher (non-employees) • Completed Employee Reimbursement Form (GU Employees) • All reimbursement forms are available on the OrgSync umbrella, under “Files” in the Reimbursement Forms folder. • Approval of your organization’s President or Treasurer

  16. Reimbursements cont’d • Non- GU Employees must obtain a vendor ID • Check to see if you have an ID: Vendor Lookup • If you have an ID, please check that the address is correct. If you have a new address, please inform OSL in writing of your new address. • If you do not have a vendor ID, please complete a W-9 form: • Click submit after completing the form. Note the vendor ID assigned • Non GU-Employees must complete an Expense Voucher (typed)online or in McD 170. You will need to know: • Your organization’s cost center number and appropriate account codes • Bring completed expense voucher with original itemized receipts to McD 170 for approval. • GU Employees must complete an Employee Reimbursement form. You will need to know: • Your organization’s cost center number and appropriate account codes • Your department’s home number – ask your supervisor • Bring completed employee reimbursement form with original itemized receipts to McD 170 for approval.

  17. Contracts and Honoraria

  18. Contracts • Contracts are needed in various situations: • Catering for 50+ people • Hired service (performers, DJ’s, instructors, interpreters, etc.) • Rental equipment: Depends on type and amount. Please check in with OSL staff before making purchase • Types of Contract • Standard Terms and Conditions • Independent Contractor Agreement

  19. Standard Terms and Conditions • You will need: • Standard Terms & Conditions contract completed and signed • Itemized Invoice from Vendor • Online W-9, completed by vendor • Certificate of Insurance (for catering, rental equipment, some services) • For contracts over $10,000 the vendor must go through the bidding process (check with Coordinator of Student Organizations) • Completed expense voucher to pay vendor

  20. Independent Contractor Agreement • You will need: • Completed and signed Independent Contractor Agreement • Itemized Invoice from Vendor • Online W-9, completed by vendor • Tax Questionnaire, completed by vendor • Completed expense voucher to pay vendor

  21. Contracts – Important Notes • The name on each contract form must be identical(i.e., Jane E. Doe vs. Jane Doe). • Vendors cannot be paid until contract is processed and approved. Please communicate with your vendor regarding payment process. • Allow at least 3 weeks to process smaller contracts, and at least one month for larger contracts. • As soon as you realize you need a contract for your event, please be in touch with the Coordinator of Student Organizations in the Office of Student Life. • For more information on contracts, visit the Procurement Website.

  22. Honoraria For SBA policies and stipulations regarding honoraria, please see Slide 9. For approval and payment of honoraria, you will need: • A formal letter of invitation to guest – cannot be via email. May be printed on letterhead in OSL. • A completed online W-9 by guest. • Completed Honorarium Form. There are separate forms for U.S. citizens and International guests – cannot be via email. • There is additional paperwork for international guests! (i.e., visa information), so please touch base with OSL as soon as you would like to offer an invitation to an international guest. • A completed expense voucher

  23. Catering

  24. Preferred Vendor Catering • The easiest method to get off-campus catering for large events! • Georgetown has approved a list of preferred vendors including caterers where no contract or purchase order is required to place an order. Here is a list of Preferred Catering Vendors. • Some example pricing: • Quite-a-Stir offers bartending service at $200.00 for up to 4 hours • Office Catering offers box lunches from $6.00 and up, and entrees from $9.00 and up • Rockland’s catering has several locations and offers excellent BBQ options: Set menus from $11.99 and up, and a la carte options

  25. Preferred Vendor Catering Cont’d • Orders should be placed at least one week in advance of your event. Be sure the order clearly states the name of your student organization and your GX account number. The total amount of the order will be deducted from the organization’s GX account. • Additionally, you will need to complete a Preferred Vendor Order form.

  26. Other External Catering • Catering from outside restaurants, caterers, etc.: Student organizations are free to solicit local businesses to cater their events. However, unless a contract is approved (catering for 50+ people), a member of the student organization will need to be reimbursed for the catering expense. • Contracts are necessary for events with more than 50 people and/or costing $10,000+.

  27. Internal Catering Bon Appétit: • Their menu and pricing are available upon request at the Bon Appétit Office located in the Market Café. Bon Appétit will draft a proposal for your review that includes the food and beverages ordered, labor costs and the total amount of the order. • Orders should be placed with Bon Appétit at least one week in advance. For larger events, more lead time is required. All orders will need signature approval from the Director of Student Life or the Coordinator of Student Organizations. The total amount of your order will be deducted from your GX account. • Does not require a contract! A catering invoice must be submitted to the Office of Student Life for approval. Be sure your order clearly states the name of your student organization and your GX account number.

  28. Simple Catering • Vouchers (Armand’s Pizza, Dominos Pizza, California Tortilla) are available in the OSL office. • Peapod Order (can order online in OSL office). $75 minimum for delivery. • OSL Procard(can use for internet order in the OSL office). • Office Max account for office supplies. • Subway Café Voucher Form. Obtain approval from Coordinator of Student Organizations. • Billy Goat Voucher Form for happy hours. Obtain approval from Coordinator of Student Organizations.

  29. Financial FYI’s • Cost Center accounts • Specific number assigned to your organization • All money, in and out of your organization must go through your Cost Center • “GX_ _ _ _ _ _ _ _ “ • Account codes • 5 digit numbers that categorize income or expenses • Ex. 55142 – Student Activities Income • Ex. 74826 - Student Social Function Expenses • Both searchable on the University website (search “Cost Center Lookup” on home page), and on your OrgSync portal in your organization’s Treasury.

  30. Financial FYI’s cont’d • All financial paperwork and other information is available in Student Life’s Financial Forms Folder on OrgSync: • Safe Money Handling • A cash box or bag can be checked out from OSL. • If collecting funds, there is a safe in OSL for storing money/checks. • Do Not keep money in Student Organization offices. • Must deposit funds with Student Accounts in 24-48 hours. • Tax Exempt Status • University is exempt from sales tax. Please utilize the appropriate Tax Exempt Certificate for all purchases (paper copies of the forms are also available in OSL). • Fund Transfers • To transfer funds between organizations, complete the Fund transfer Form. All fund transfer forms must be signed by an Organization President or Treasurer (paper copies of the forms are also available in OSL).

  31. Financial Training Quiz Now that you have completed the Financial Training Presentation, please submit the Financial Training Quiz via OrgSync. The Financial Training Quiz is required for all Student Organization Presidents and Treasurers. The training and quiz are required before a group’s budget from SBA may be accessed. Please contact the Office of Student Life if you have any questions or encounter any issues with the quiz submission.

  32. THANK YOU! Office of Student Life170 & 171 McDonough Hall202-662-9292Email: studentlife@law.georgetown.edu

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