VIRGINIA COMMONWEALTH UNIVERSITY Student Organization Finance SOF

1. VIRGINIA COMMONWEALTH UNIVERSITY Student Organization Finance (SOF) COMMON MISTAKES & FAQ�s Presented by: The Office of Student Organization Finance VCU University Student Commons & Activities Division of Student Affairs & Enrollment Services 907 Floyd Avenue � Room 018E

2. 1. Why do some Student Orgs disappear? The majority of student organizations who do not survive over the long-term, fail for the same reason as most small businesses � POOR planning and organization! Avoid this mistake by treating your organization as if it is your own personal business venture.

3. 2. How do I get funding for my organization? To become eligible for funding, an organization must be active for 90-days. Once the 90-day period has passed, one of three budget types may be submitted: ANNUAL, START-UP, SUPPLEMENTAL. Annual = for student organizations who have maintained �active� status after 90-day period (full budget request) Start-Up = for student organizations who have just passed 90-day period for first time (fixed budget request, max = $3,000 per academic year) Supplemental = for student organizations who missed annual appropriations process (same as Start-up funding w/ addition of travel, no monetary restrictions)

4. 3. Who do I go to for funding? The following student org classifications are funded directly thru the SGA Appropriations Committee: Cultural, Honorary, Political, Service, Spiritual, Professional/Academic, and Special Interest. The remainder of student orgs are funded thru SGA Appropriations Sub-committees: Fraternities & Sororities � F&S Finance Committee Sports Clubs � Sports Club Council Graduate Orgs � Graduate Student Association

5. 4. What is the purpose of the supplemental funding process? The supplemental funding process is for student organizations who have been actively registered and missed the annual budget process. This process also allows for organizations to apply for funding for true emergency situations that were not foreseeable during the annual budget process. HINT: �We forgot.� IS NOT AN EMERGENCY

6. 5. What happens if my org misses a deadline to turn in a financial request? NOTHING! Late requests will not be accepted and/or processed. Some instances are unavoidable , there are very few of these instances. �Lack of planning on YOUR behalf, does not constitute an emergency on our behalf!� Don�t take a chance�.Always submit in advance!!!

7. 6. My org is paying someone for a service, what type of contract [or form] should we use? There are a few options for your org here: VCU Presenters Contract: use this contract when the person and/or business performing/servicing the contract will be providing a Business Tax-ID as identification for payment. VCU Independent Contractor Agreement: use this contract when the person and/or business performing/servicing the contract will be providing a Social Security Number as identification for payment. Honorarium: use this to make payments in recognition of acts by a professional person which prices are not traditionally set. Most commonly used for educational speakers. This IS NOT a contract.

8. 7. What is the importance of the on-line Spending Workshop? The SOF Spending Workshop gives the org officers pertinent information needed to conduct financial transactions for their org. By completing the training, you are the persons responsible for authorizing the spending of your groups funds. You are also responsible for passing the correct information on to your members!

9. 8. What happens if our org does not complete the on-line Spending Workshop by the deadline? Student Orgs who fail to have officers complete on-line Spending Workshop by the semester deadline, will LOSE ALL FUNDING for that semester! There are NO exceptions.

10. 9. How do I sign up for the on-line Spending Workshop training course? To enroll in the on-line Spending Workshop training course on Blackboard, students must email the General Manager of Student Org Finance�Rod Dadzie�at dadziera@vcu.edu with the following info: Full Name VCU eID username Student ID (V#) VCU email address

11. 10. What do I turn in with a Delivery Order request? The following should accompany every Delivery Order (DO) request: SOF Delivery Order Request form signed by authorized organization President or Treasurer (salmon color form). Quote from desired vendor (estimate, shopping cart print-out, email from provider, etc.) If the DO request involves food, you must attach a flyer for the event.

12. 11. What do I turn in with a Reimbursement request? The following should accompany every Reimbursement request: SOF Reimbursement/Refund form signed by authorized organization President or Treasurer (yellow colored form). ORIGINAL receipts and/or invoice. (receipts should be taped to blank piece of paper) Copy of card used for payment�cross out ALL digits, except for last four (xxxx-xxxx-xxxx-1234), or copy of bank statement showing charge If food is involved include: Flyer w/ approximate number of attendees, OR List of attendee names

13. 12. What do I turn in with a Travel Reimbursement request? The following should accompany every Travel Reimbursement request: SOF Travel Reimbursement form signed by authorized organization President or Treasurer (orange colored form). VCU Travel Expense Reimbursement Voucher, signed by traveler only. ORIGINAL hotel check-out folio showing room rate and all applicable taxes. ORIGINAL receipts for incidental expenses�gas, parking, etc. (receipts should be taped to blank piece of paper) Copy of card used for payments�cross out ALL digits, except for last four (xxxx-xxxx-xxxx-1234), or copy of bank statement showing charge Food is NOT funded for travel

14. 13. Where can I locate SOF financial request forms? All request forms are available in the Office of Student Organization Development (outside the office door of room 018e in the Student Commons). An authorizing signature (President or Treasurer) is required on all financial requests. Please check your budget prior to submitting any type of financial request and list the budget account # on the financial forms. Incomplete or problem requests will NOT be accepted. REMEMBER! All requests (DO or Reimbursement) involving food MUST be accompanied by an ad for the event and a list of participants.

15. 14. We have funds in one account, but would like to transfer them to another, how do we do it?

16. Budget Reallocation Form

17. What�s Next? If you have not already done so, please sign up for the on-line Spending Workshop training and complete the quiz in Blackboard. Once you have passed the quiz you may come to SOF to fill out your signature authorization card. THANK YOU from the Office of Student Organization Finance!

18. Student Organization FinanceContacts: Rod Dadzie, General Manager � Student Organization Finance Regina Kenny, Account Specialist Senior � Student Organization Finance Groups: Cultural, Fraternal, Honorary, Political, Service, Spiritual, Sports Gail Stubbs, Account Specialist - Student Organization Finance Groups: Professional/Academic, Special Interest Olivia Lloyd, Account Specialist - Student Organization Finance Groups: Programming Commission, SAAC, SGA, Governing

19. Questions?