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FISCAL MANAGEMENT WORKSHOP

FISCAL MANAGEMENT WORKSHOP. Welcome. This workshop will explain the procedures for spending money from a GMU organization account The information here can also be found on the Office of Student Involvement website, si.gmu.edu, in the Student Organizations section under Spending Money

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FISCAL MANAGEMENT WORKSHOP

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  1. FISCAL MANAGEMENT WORKSHOP

  2. Welcome • This workshop will explain the procedures for spending money from a GMU organization account • The information here can also be found on the Office of Student Involvement website, si.gmu.edu, in the Student Organizations section under Spending Money • All Organization Presidents and Treasurers must review this presentation and pass a brief test at the conclusion with a score of 80% or better • Test results must be emailed to Sara Morrisroe, Assistant Director for Student Organizations

  3. HOW CAN YOUR ORGANIZATION GET MONEY TO SPEND? • Student organizations can get money to spend in two ways: 1) by applying for funding from the Student Funding Board (SFB) 2) by raising the money themselves

  4. Applying for Funding • All recognized student organizations in good standing are eligible to receive funding from the Student Funding Board • SFB funds can be used to pay for refreshments, catering, travel expenses, instructors, performers, dues payments, etc. • Social Programming Funds, or SPF, may be used to finance events that are open to the entire campus community • For information about SFB and SPF application deadlines, and how to apply for funding, refer to the Funding Opportunities section of the Student Involvement website • Funding is awarded for specific events and activities and may be used solely for the purpose awarded

  5. Raising Money • Organizations may raise money by collecting dues, charging admission fees to events, holding bake or craft sales, winning campus competitions, etc. • Money raised this way is called self-generated revenue, or SGR • All SGR monies must be deposited into a GMU campus account unless your organization has a national affiliation that requires an off-campus account • SGR monies must never be deposited into a personal account

  6. What’s next? • Once funding has been awarded or SGR has been raised and deposited, university and state rules and processes must be followed in order for monies to be paid out from your account • Failure to follow the correct procedures may delay your payment and impact your ability to receive future funding

  7. Seven general rules apply to all organization fiscal activity:Rule #1 • Original receipts and/or invoices are needed; Accounts Payable will not accept copies • If you pay by check or credit card, a cancelled check (front and back) or a bank or credit card statement that shows the transaction may be acceptable proof

  8. Rule #2 • With only one exception, whenever food is purchased, a Food and Beverage Form is required • The only exception is food ordered from the on-campus caterer, Sodexo Special Occasions Catering. Sodexo orders do not require a Food & Beverage Form

  9. Rule # 3 • If the vendor you are trying to pay has never been paid by the university, the vendor must supply a W-9 form listing a Tax Identification Number (TIN) or Social Security Number

  10. Rule # 4 • If you are paying an individual rather than a company, an Independent Contractor Form must be submitted • When seeking reimbursement for a student, provide the student’s G# instead of the independent contractor form

  11. Rule #5 • Anyone seeking reimbursement for travel expenses must follow GMU travel procedures and must use the GMU Travel System to generate proper paperwork • All travel must be approved BEFORE the trip

  12. Rule #6 • Payments of $2,000 or more must be processed using the Purchase Order Request form • The Purchase Order Request form for payments of $2,000 or more must be submitted at least 30 days in advance

  13. Rule #7 • Whenever funding from the Student Funding Board is used to pay for supplies or activities, an Event Evaluation Form must be submitted within 5 days after the event

  14. Four ways to pay for goods and services • Using your organization number to “charge” on-campus purchases for Catering, Copy Center, Events Production, Motor Pool, and Parking Services • Using a Purchase Order to pay a local merchant • Using a Student Organization Payment Request Form to pay a vendor or reimburse a member of your organization • Using an Honorarium Request Form to acknowledge a person who has provided a professional service, such as an oral presentation

  15. 1. Using your organization number to charge • When you supply your organization number for on-campus purchases, the fee will be deducted automatically from your organization account • Be sure that your account has enough self generated revenue or funding to cover the fee • If there is not enough SGR or funding in your account , you will be required to deposit money to cover the fees

  16. Using a Purchase Order • Several local vendors will accept a Purchase Order in lieu of payment • This allows students to get food or other goods without having to pay with their own money • Fairfax Giant, Fairfax Domino’s, and Fairfax Papa John’s Pizza accept many purchase orders from Mason students each year • Other vendors may agree to accept Purchase Orders if you ask

  17. How to get and use a Purchase Order • Submit a Purchase Order Request Form at least 5 days before your event • For food purchases, also submit a Food & Beverage Form • Once your request is processed, a Purchase Order will be issued and sent via email to the requesting student. Print the Purchase Order and present it to the vendor at the time of purchase

  18. How to get and use a Purchase Order (cont) • Within 5 days after the purchase, submit the original receipt and an Event Evaluation Form This is very important because the vendor does not get paid without submission of the receipt Also, your organization may not be eligible for future funding without submission of the Event Evaluation Form

  19. For purchases of $2,000 or more • Submit a Purchase Order Request Form for all purchases of $2,000 or more at least 30 days in advance • Attach a contract or invoice to support the request

  20. Using a Student Organization Payment Request • Use a Student Organization Payment Request form for reimbursements, conference registrations and pre-payments for services that are less than $2,000 • An original invoice and/or itemized receipt must accompany the Payment Request • NOTE: The Check Request Form used in previous years is no longer used by the University

  21. Using a Student Organization Payment Request Form (cont) • Attach a Food & Beverage Form for payments involving purchase of food • Attach a W-9 form for payments to vendors not previously paid by the university • Attach an Independent Contractor Form for payments to individuals who are not students

  22. Using a Payment Request (cont) • Submit the Payment Request packet for processing no later than 5 days after the event • If you are requesting payment for dues, attach a list of those members for whom dues are being paid

  23. Completing a Payment Request Form • In the “Payee Information” section (upper left), fill in the information for the person or business to be paid • In the “Event Information” section (upper right), give details of the activity associated with the expense

  24. Completing a Payment Request (cont) • In the bottom part of the form, specify what type of funds will be used and contact info for the person and organization making the request • Sign and date the bottom line • Attach original supporting documentation including receipt and, if applicable, Food & Beverage Form, W-9 form, Independent Contractor Form, list of members for dues

  25. Student Organization Payment Request Form (cont) • Student Involvement Business Manager will review the Payment Request to determine if sufficient funding or self generated revenue is available to cover • If approved, Payment Request will be sent to Accounts Payable for processing

  26. Completing a Food & Beverage Form • In the Vendor/Payee section (upper left), fill in the vendor name, address, etc. • In the Department Information section (upper right), fill in your organization information • Event Information must include date, time, location and number of attendees.

  27. Completing a Food & Beverage Form (cont) • Always check Box # 3, Student Club Function • “Purpose” should include a description of your event • Sign top line only • Submit with Purchase Order Request form or Payment Request Form

  28. Catered Events • If you plan to have a catered event, you can use the University’s on-site vendor, Sodexo Special Occasions Catering, or an approved off-site vendor • You may not use off-campus vendors that have not been approved by the University • No payments can be made and no funding awarded if you use off-campus vendors who are not on the approved caterers list • A link to the Approved Caterers list for off-campus vendors can be found on the Student Involvement website in the Spending Money section under Student Organizations

  29. On-Campus Caterer • Sodexo/Special Occasions Catering -- Orders must be placed on-line at catering.gmu.edu -- You will not need to submit a Food & Beverage Form or a Purchase Order Request when using Sodexo -- Sodexo will send all orders to the Business Manager for approval

  30. Off Campus Caterers • Must be an Approved Caterer • Prior to the event, submit: -- Purchase Order Request Form -- Food & Beverage Form -- Original invoice or proposal from the caterer

  31. Honorarium Payment • An honorarium may be paid as a token of appreciation to an individual who provides a professional service for which payment is not required; there is no contract, and the fee is not set or negotiated by the recipient • An honorarium may include consideration for travel expenses • To pay an honorarium, submit: -- an Honorarium Payment Request Form -- a W-9 Form for the professional person you wish to pay -- a letter of invitation (if any) • Accounts Payable may request justification for the payment

  32. Hiring a DJ, Performer,or Instructor • A GMU Contract Packet is required to hire DJs, Performers, and Instructors (such as dance teachers) • Very important: All Contract Packets must be submitted 30 days in advance. • For payments of less than $2,000, submit a Student Organization Payment Request form with the Contract Packet • For payments of $2,000 or more, submit a Purchase Order Request form with the Contract Packet

  33. Hiring a DJ, Performer, Instructor (cont) • The Contract Packet you submit must include: -- W-9 form -- Independent Contractor Form -- Insurance Certificate Insurance requirements are shown on pages 3 and 4 of the contract

  34. Hiring a DJ, Performer, Instructor (cont) • When completing the contract, be sure to fill in all of the blanks on page 1 of the contract, including date, time, location, and what service is expected to be provided • On page 3, fill in the amount to be paid for the service • Have the DJ, performer or instructor sign on the left side of the last page • The Associate Dean of University Life must sign on the right side of the last page, BEFORE the performance takes place • If the contract is not signed by the Associate Dean BEFORE the event, the university is not obligated to pay

  35. Timing is important • Accounts Payable normally takes at least 30 days to process payments • Make sure the vendor is aware of the time required for processing the payment • Submit the required paperwork as early as possible

  36. Travel Reimbursements • All travelers must use the Travel Request System • Go to https://travel.gmu.edu • The first time you use the system, you will have to request access • Enter your personal information and your Supervisor or Advisor information • When access has been granted, you will receive an email notification which includes a case-sensitive temporary password. Log in to change your password

  37. Travel reimbursements (cont) • All travel must be approved in advance • At a minimum, obtain verbal approval from your advisor for all travel • Writtenapproval is requiredin advancein any of the following circumstances: -- Commercial air travel -- Total trip cost estimated to exceed $500 -- Lodging above the basic rate

  38. Travel Reimbursements (cont) • If any one of these conditions is applicable, you must obtain written approval in the form of a Request and Authorization to Travel form generated by the Travel Request System (TRS) • The Request and Authorization to Travel form must be signed and dated by the traveler, the advisor, and the appropriate Senior Approving Official before the trip begins

  39. Travel Reimbursements (cont) • If your travel is not approved before you go, the university is not obligated to pay your reimbursement request • Be sure to submit your Travel Authorization Form to the Office of Student Involvement as far in advance of your trip as possible to allow time for the Senior Approving Official to sign the form.

  40. Travel reimbursements (cont) • At least 5 days before you travel, submit: -- Risk Assessment Form -- Travel Authorization Form, if required • Within 5 days after you travel, submit: -- Travel Reimbursement Voucher -- Original, itemized receipts showing your expenses

  41. Travel reimbursements (cont) • Each individual traveler must submit his or her own reimbursement request using the Travel Request System • Signatures: -- Student signs as “Traveler” -- Faculty Advisor signs as “Supervisor” on both the Travel Authorization and the Travel Reimbursement Voucher forms

  42. Travel reimbursements (cont) • If you have problems using the Travel Request System, please contact the Travel Office directly • Once your forms are ready, submit them to the Office of Student Involvement • Do not submit your forms directly to the Travel Office

  43. Collecting Money • Whenever money is collected from individuals, such as dues payments or payments for t-shirts, a receipt should be provided • Receipt books are available to borrow from the Office of Student Involvement • Receipt books must be returned to the Office of Student Involvement within a week.

  44. Collecting Money (cont) • When money is collected at events such as dances and parties, Cash Handling & Wristband Procedures for Recognized Student Organization Events must be followed • These procedures can be found on the Student Involvement website under General Policies for Student Organizations

  45. Collecting money (cont) • All money collected must be deposited into your on-campus organization account, unless your organization has a national affiliation which requires use of an off-campus account • Checks should be restrictively endorsed as soon as they are received (for example, “For Deposit Only, George Mason University, Org. 610xxx)” • Money must be deposited by close of business the day after collection of $500 or more, and by the end of the week, if less than $500 is collected

  46. Depositing Money • Use a triplicate Cash Receipt form to deposit money into your organization account • Cash Receipt forms are available at the Office of Student Involvement • Make deposits at the Cash Office located in SUB I

  47. Depositing Money (cont) • When completing the Cash Receipt Form: -- Bank Number: is always “1” -- Organization number: Starts with 610xxx -- Account codes: there are specific codes for dues, admission fees, sponsorships, food sales, etc. Check the Student Involvement website for the complete list of revenue account codes -- When you make a deposit, the Cash Office will validate your deposit and give you the yellow copy of the Cash Receipt to keep for your records

  48. Transferring money • Money can be transferred from student organization accounts to other university organizations using a Journal Voucher (JV) • JVs can be used to: -- pay a GMU department for a service -- send co-sponsorship money to another student organization Ask the Business Manager to prepare a JV if you wish to make a transfer

  49. Motor Pool • Cars and vans can be leased from the University Motor Pool using your organization number to “charge” the fee • This is not a free service • Your organization will be responsible for covering all Motor Pool charges it incurs. Make sure you have funding or self generated revenue to cover the cost before you lease a vehicle.

  50. Paying for other services • Other GMU services also can be “charged” to your organization account, including Events Production, Print Services, and Parking • These services are not free • Your organization will be responsible for covering all charges it incurs

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