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C AMPUS & S TUDENT C ENTERS Learning Objectives - 1 of 1 At the conclusion of this module you will:  Understand how ticket sales income is transferred.

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Presentation on theme: "C AMPUS & S TUDENT C ENTERS Learning Objectives - 1 of 1 At the conclusion of this module you will:  Understand how ticket sales income is transferred."— Presentation transcript:

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2 C AMPUS & S TUDENT C ENTERS

3 Learning Objectives - 1 of 1 At the conclusion of this module you will:  Understand how ticket sales income is transferred to the student organization  Understand what fees are deducted from the settlement  Understand when the income will be transferred to the student organization

4 C AMPUS & S TUDENT C ENTERS What is a Settlement? – 1 of 1 Press Enter to Continue Settlement is the process of reporting the results of all ticket sales. Settlement will usually be completed within seven business days of the event or raffle. For trip, settlement will occur within seven business days of the trip or when the trip is sold out, whichever comes first. For more expensive trips, partial settlements will be made.

5 C AMPUS & S TUDENT C ENTERS Settlement Report – 1 of 8 Press Enter to Continue The settlement report will indicate the number of tickets sold for each buyer type, the total revenue received, the student organization income and the box office system income. From the amount due the student organization any additional fees will be deducted and the final amount due the student organization will be indicated. The following slides show examples of settlements.

6 Settlement Report – 2 of 8 Press Enter to Continue Event Information Income by Buyer Type Itemized Deductions We will now look at each section

7 C AMPUS & S TUDENT C ENTERS Settlement Report – 3 of 8 Press Enter to Continue Settlement – Example – Event Information – Name of Event, organization name for raffle, or destination for a trip 2 – Date of the Event, date of the drawing for a raffle, date of a trip (or first date for multiple day trips) 3 – Code used in the box office system

8 C AMPUS & S TUDENT C ENTERS Settlement Report – 4 of 8 Press Enter to Continue Settlement – Example – Income by Buyer Group – List of each buyer type 2 – Number of tickets sold for that buyer type 3 – Cost of tickets as indicated on the request form 4 – Ticket income – the number of tickets sold times the cost per ticket

9 C AMPUS & S TUDENT C ENTERS Settlement Report – 5 of 8 Press Enter to Continue Settlement – Example – Income by Buyer Group 5 – Sponsor income – what is due to the student organization ticket income (less the $.15 per ticket fee) 6 – Ticket fee income – what is due box office ($.15 per ticket sold)

10 Settlement Report – 6 of 8 Press Enter to Continue Settlement – Example – Summary Section – Due Sponsor – this is the same figure indicated in the previous section 2 – Credit card fees for land based (box office and phone) sales 3 – Credit card fees for internet based sales

11 Settlement Report – 7 of 8 Press Enter to Continue Settlement – Example – Summary Section 4 – Misc. adjustments, i.e. consignment fees 5 – Venue expenses – any charge by the venue for equipment, staff, etc. 6 – Box office fees for ticket sellers and/or ushers

12 Settlement Report – 8 of 8 Press Enter to Continue Settlement – Example – Summary Section 7 – Net Due – this represents the amount to be transferred to the student organization

13 C AMPUS & S TUDENT C ENTERS Settlement Transfer Press Enter to Continue Once the settlement transfer is processed, the student organization treasurer will receive an . Any questions should be immediately referred to the Dr. Paul M Simon at or

14 C AMPUS & S TUDENT C ENTERS For Further Information Contact Paul M Simon, Ed.D. Director of Campus & Student Centers and Auxiliary Services Midtown -Student Center Westside -Campus Center Press Enter to End


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