St. Olaf College Student Organization Financial Training

1. St. Olaf College Student Organization Financial Training 2016-17

2. Financial Information • Business Office Staff & Contacts • Lawson Units & Accounting • Credit Cards • Forms • Tax Exemption

3. The Business OfficeTomsonHall Room 134 Contact People Toni Burt Accountant burt@stolaf.edu Accounting support Deb Juenke Accounts Payable juenke@stolaf.edu Check requests Tonya Malz Cash Manager malz@stolaf.edu Deposits and cash questions Jayne Kiesler Accounts Payable kieslerj@stolaf.edu Check requests

4. To access Student Org Financial Forms on the web:

7. Student Org Financial Forms

8. Accounts Payable Check Request • Use in addition to invoice provided by vendor • Need accompanying W-9 for new vendors only. • The deadline to submit requests to Student Activities for approval is Noon on Monday. • Due to Accounts Payable by 5:00 p.m. on Tuesday so the check will be ready by Friday.

9. Travel/Reimbursement Form • Attach original, itemized receipts. • Must be signed and verified in Student Activities, BC 107. • No reimbursement for sales tax paid. • Gas receipts are not an acceptable reimbursement! • If it is less than $100, cash can be received at the Business Office Window. • Submit your direct deposit information only one time.

10. MileageReimbursements • Volunteer Network orgs can choose to set any mileage rate up to $0.54 per mile. (VN policy) • All other orgs can choose to set any mileage rate up to $0.25 per mile. (SOC policy) • Airport run is $43.00 round-trip. • Remember to include destination(s) and number of miles on reimbursement form. Attach a map that shows number of miles.

11. Business Office Deposit Form • Business Office Hours: M-F 8:00 a.m.-4:30 p.m. • A deposit drop-box is located in the hall under Business Office Window. • All cash and checks must be added up. • Remember to include a description! • The Student Activities Office has a safe; they are happy to hold onto deposits until Orgs are ready to deposit them. Please don’t hold large sums of money in private residences!

12. Cash Advance Form • Must be signed and verified in Student Activities, BC 107. • The Org’s cash balance must be checked and approved by either the Office of Student Activities. • Once approved, take the request to the Business Office. • When sale is completed, return all funds to the Business office. Complete a Cash Advance Return form form to return original funds and a Deposit form to deposit the remainder in your Org unit. Form directions here

13. TAX EXEMPT • St. Olaf College is a tax exempt entity in the state of Minnesota • Our tax exemption number is 20133 • Exemption certificates are available on the web:http://www.stolaf.edu/offices/treasurer/ces.pdf • Exceptions: Prepared Meals, Lodging (If it’s a service, we can pay tax, not for items)

14. Notable Items • Minnesota Nonresident Entertainer Tax 2% withholding on entertainers from other states. This includes speakers as well. • Nonresident Aliens (NRAs) If your organization intends to pay any NRAs, contact Dave Brabec (507-786-3022) well in advance of making any payment agreements

15. Coding Company (3) - Unit (5) - Account (5) Required Required Required Changes based on transaction type Co. always 010 Specific to your org Office of Student Activities staff can help!!

16. Frequently Used Accounts • Lists accounts used most often by student organizations. • This list can be found http://wp.stolaf.edu/treasurer/frequent-accounts/ • Staff can help – this can be confusing…

17. Accessing the Lawson Web If you’re listed as a member in Org Database, you have Lawson access.

18. Same as email sign-on

19. Go back to the Main Screen: Check the box of the report you would like to view Select the fiscal year Select the “View Reports” button

20. Budget Variance Report

21. Variance: the difference between the budget column and actual column. • Most student organization units do not get budget numbers loaded into Lawson. • Reference the Actual column total for the balance of your unit.

22. (Credit) Balance = Available balance Parenthesis = Positive Debit Balance - Overspent In this example, the organization overspent by $262.50.

23. Check Excel format Click Open

24. Click “Clear Report Choices” before selecting a new report.

25. Help! has info on Lawson web as well as Excel tips.

26. Credit Card Rules • Credit Card Checkout Reminders • Things to Do: • DO get itemized receipts that include the price for every item purchased. A $1/day/receipt late fee will be charged for every day receipts are missing past check-in date. • DO provide a list of everyone who goes out to eat. • DO use good judgment when making purchases. No alcohol, no gas, etc. • Things NOT to Do: • DO NOT check out the credit card for more than 48 hours. A $10/day late fee will be charged for every day the card is not returned past check-in date. • DO NOT lend the card out to someone else to use. It's been issued to you and is your personal responsibility. If you are found lending your card out, your credit card privileges will be revoked. • DO NOT pay sales tax. Exceptions include prepared food (restaurants) and lodging. You will be responsible for any sales tax that you pay. • DO NOT use the credit card to pay for gas. • DO NOT use the credit card on campus, (the Bookstore, the Pause, the Cage, etc.). Student orgs will have to check out department cards to pay for on campus transactions. • *Note:We have special tax exempt cards to be used at Menard's and Cub. • If you lose the card, call Evan Lebo (C: 715-220-3238) or Kris Vatter (C: 507-210-7730) and let them know ASAP. If any charges are made, you are personally responsible (not the organization) for the charges. • DO NOT use the card for subscriptions or recurring payments (e.g. no webpages). • When you drop the credit card off, let us know if there are back-orders or any special circumstances. Make a note on the sheet.

27. Credit Card Check Out

28. Credit Card Wallet Note for Amazon: As of October 2014, Amazon.com began assessing sales tax for its orders. The OSA has an Amazon account that has a tax-free status built in. Ask Laura to make any purchases you may need from Amazon without incurring taxes.

29. Other Notable Things • Paying Speakers/Performers: If your organization intends to pay anyone outside the college for services rendered (speaking fee, transportation, performance, etc) the OSA needs to be informed well in advance. Often times these engagements require a contract. We can help you with this! • Paying Students: If your organization intends to pay a St. Olaf student for services rendered (photographer, coach, etc.), the payment must be hourly, via student employment, paid out of the org’s budget. Stop by the OSA in advance to get that set up!

30. Fundraising Can do ticket sales and sell goods via University Tickets, but cards cannot be swiped, only entered. IgniteCX is an online portal orgs can use to take donations—NO OTHER SITES Contact OSA with further questions. Fundraising Request and Checklist: stolaf.edu/sa/fundraising Ole Cards CreditCards • In-person sales on-campus • Reserve system minimum one week in advance • Need to know names of students managing sales • Laptop • Device and training provided NO RAFFLES NO ALCOHOL

31. Thank You Have a great year!