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Treasurer’s Workshop: Fiscal year 2015

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Presentation on theme: "Treasurer’s Workshop: Fiscal year 2015"— Presentation transcript:

1 Treasurer’s Workshop: Fiscal year 2015
Presented by: Blanka Caha and Liz MacNeill Blanka -

2 Important Information
Club Signers Book Two authorized signers, usually the President and the Treasurer Budget s and hard copies The Lynx Supplemental forms, Travel forms, etc. Mailboxes Resources – Liz3

3 Financial Calendar Outlines important deadlines and events
Found at and in the Treasurer’s Quick Reference Guide Liz – they are responsible

4 What we do Help clubs with all of their financial needs
Making purchases Keeping track of expenses Liz

5 Account details Chartstring Source Numbers

6 Budgeted Fund (130) Funded by the Student Activities Fee
Allocations determined by the SGA Finance Committee All planned expenses are outlined in the budget that is submitted by clubsigners Budget reallocation process Money does not carry over year to year Liz – money does not roll over

7 Fundraised fund (131) Funds raised by the organization
Money must be spent to benefit the club and its goals Spending is not limited to what was approved by the Finance Committee during the last Fiscal Year Funds are carried over into the next Fiscal Year Blanka

8 Responsibility centered model
University wide switch to Incentive Based Budgeting (IBB) First year being implemented Organizations have more responsibility to justify their needs in the budget process Higher reward to clubs for following rules and remaining in good standing Tier system used to determine fundraising requirements of clubs Liz

9 Tier System of Clubs Tier Maximum Budget Request
% of Requested to Fundraise Tier 1 $50,000+ 15% Tier 2 $20,000-$49,999.99 10% Tier 3 $5,000-$19,999.99 8% Tier 4 Under $5,000 5% Tier E No Budget Request 100% Liz

10 Donations account (311) Processed through the UVM Foundation
5% processing fee on all donations Under no circumstances shall alcohol be part of a donation to a club, or to any auctioning event. It is absolutely imperative for the SGA organization to refuse such a donation Additional information is available on the UVM Foundation website at Blanka

11 Frozen accounts Cannot access money from either the budgeted (130) or fundraised (131) account Accounts may be frozen if a club: Defaults on a loan Is no longer “in good standing,” by Student Activities Committee standards Fails to repay petty cash Has insufficient balance in accounts or overdraws its accounts Unfreezing accounts Liz

12 Purchase order Request (p.o.)
Most vendors accept Purchase Orders Legal promise of payment from the University Requests must be dropped off at least 7-10 business days in advance – NO BACK-DATING UVM cuts checks on Tuesdays and Fridays only, so please make sure you plan ahead Costs for checks Planning ahead

13 Purchase orders

14 How to fill out a p.o. request
Hurry and ASAP are NOT a date Have an amount – even for just a PO Give the FULL vendor name and address, this includes the Zip Code Select the fund (s) the money is coming from and one of the four options below Remember: For a check – you must have some type of quote/invoice/statement saying you owe the vendor something! When renting a vehicle/bus give ALL of this information

15 Purchase orders continued
Do NOT commit money to any vendor before a Purchase Order is processed This is unauthorized spending Be sure to have ALL necessary paperwork before dropping anything in the P.O. box Respond promptly to notices from the Treasurer A request copy will arrive in the club’s mailbox This proves that the request has been submitted, but does not mean that it has been approved Keep both copies together* Do not staple

16 Blanket orders Created when multiple expenses to the same vendor are expected for recurring orders (5 or more) Some examples Repeated vehicle rentals from the same external vendor Monthly fees

17 Vehicle rental Requirements in place by Risk Management in order to drive UVM owned or rented vehicles Minimum age of 19 years old Course certification n/index.html Transportation policy: atransportationpolicy.pdf

18 SGA Vehicle rental Must be reserved no more than four weeks prior to anticipated rental date SGA Fleet 8 Vans at $70/day 1 pick-up truck at $60/day Blanka

19 Outside vendor vehicle rental
Outside vendors Cars/vans Hertz – reserve online Avis – reserve by phone Enterprise (driver must be at least 21 years old) – reserve online School Bus First Student (preferred) STA/Mountain Transit Coach Bus Premier Coach (preferred) Lamoille Valley Coach These purchases require a purchase order Must fill in additional information section of Purchase Order Request Form Blanka

20 Renting from hertz

21 Bus rental SGA may partially fund for chartered school buses
The difference will be paid from the club’s fundraised fund (131) Clubs may fund a bus on their own if the event is not budgeted Must use the contracted vendors Blanka

22 Special Purchases Payment to an individual for providing a service
W9 Form for new vendors Independent Contractor Form Base Contract Form Purchase of products with University symbols Licensing Waiver Ordering office supplies (no PO request form needed) Use UVM Bookstore, Print & Mail Center, or Staples Reimbursement (Extremely Rare) Liz

23 W9 Form Federal Law and UVM auditing policies require a W9 to be on file for all vendors Employee ID# or SSN must be on the signed W9 Needed before the PO request can be submitted. This is your responsibility For new vendors only

24 Independent contractor form
Include name and last 4 of SSN of the payee. The Unit/Department is Student Government Association. You fill out the form preparer information. Fill out citizenship information. Only fill out Sections I, II, and III, with Part C unless dealing with a researcher. Do not sign here! This is for the Finance Office. Don’t forget to fill in the description of services!

25 Base contract form Needs telephone and SSN
Cost, date, and location are needed Needs the signature from the purchaser (club representative), Performer, and Director of Student Life (Pat Brown).

26 Food Purchases There are policies outside of SGA control that need to be followed when catering Sodexo catering waiver is needed for outside catering on campus, except: When purchasing pizza Catering by University approved vendors Potluck for club members by the club The catering waiver must be submitted online through the Conference and Events Services website. Please allow at least 2 weeks for approval – PLAN AHEAD. Blanka

27 Credit Card Purchases Can be used when other forms of payment are not acceptable Examples: hotels, plane tickets, online purchases Can only be used within the Galaxy Space during the business hours of the Finance Office

28 Petty Cash This is used very sparingly
The responsibility is placed on the Custodian Clubs must close out with original receipts and remaining cash on time Clubs may only have one Petty Cash open at a time. Requires two signatures (Clubsigner and Custodian)

29 ‘Orange Card’ (Charge card)
Used to pay for purchases within the University Example: Print and Mail Center, Bookstore One transaction is conducted per card. These purchases need to be authorized by a SGA authorized signer (Sara, Blanka, or Liz) Blanka

30 Loans Granted with the approval of the SGA Treasurer
Repayment schedule is determined during the hearing SGA reserves the right to derecognize an organization for failing to repay a loan No interest applied

31 Deposit Slips Used to deposit cash, checks, and unused petty cash
Clubs must have all accounts within the University Checks MUST be made payable to the University of Vermont or UVM Blanka

32 How to reserve space on campus
Use online server, Virtual EMS This link is easily found through UVM A-Z search Be sure the space is clean when you leave to avoid cleaning charges Liz

33 How to reserve space on campus

34 How to reserve space on campus

35 How to reserve space on campus

36 How to reserve space on campus
Sample reservation?

37 Financial Transaction reports
Dispersed to clubs on a monthly basis Will come in the form of an from Also use this to request budget allocation Use these reports to keep track of transactions made on your 130 and 131 accounts Additional information on how to read reports is on the SGA Resources for Clubs website Blanka

38 PLEASE be as detailed as possible when submitting requests
Additional funding Supplemental Funds for current and new clubs Supplemental, Gas Supplemental, Capital Funding, Nationals Funding, Diversity Enhancement Funding, Uniform Funding Must fill out forms on the Lynx by 12 noon on Mondays Will have a hearing with the finance committee for all requests except Gas Supplemental Requests over $2,000 require an advisor’s approval SGA Senate approval is needed for requests over $2,000 and take more time to process PLEASE be as detailed as possible when submitting requests High risk weekend proposal for funding

39 Supplemental funding Used for items not included in the original budget Examples: hotel rooms, flights, van rentals, supplies, equipment and materials, as well as payment to outside individuals or organizations General guidelines for allocations: Hotels: Up to $120/night/room with 4 people/room Flights: Up to $900/semester for 2 people Up to 75% of any ‘fee,’ may be allocated Food allocations will be made following the appropriate criteria

40 How to request supplemental funding
Step 1: Log onto the Lynx at

41 How to request supplemental funding
Step 2: Search for SGA Finance Committee Step 3: Click ‘Forms’

42 How to request supplemental funding
Step 4: Select the appropriate form for your request

43 How to request supplemental funding
Step 5: Fill out the form as accurately as possible and submit when finished. You will receive an confirmation shortly after submission.

44 How to request Supplemental Funding
Step 6: Check periodically for scheduling of hearing time (if applicable) Response and allocation will be sent via by 12 noon on Friday of the week of the request. Further information may be requested post-hearing if necessary Make sure your club advisor sends an to the Finance Committee for request over $2,000 confirming knowledge of the request

45 Gas Supplemental funding
Because gas prices are variable, gas is never budgeted for An electronic copy of directions and a map must be attached to the request when it is submitted. The route and mileage must be shown. Follow the equations to calculate the estimated cost of gas for the trip This must be done before traveling Map needed for completion

46 Capital project proposal
Special funding available for tangible items that will last in good shape for five years or more You must bring a price estimate for the item(s) needed and any additional information supporting the allocation to the SGA Office Front Desk Let us know beforehand

47 Diversity enhancement funding
Can be used for events with a cultural or religious nature in order to enhance diversity and to benefit the campus as a whole Examples: holiday events, speakers, etc. This fund is only applicable for on-campus events Food may be allocated for events supporting diversity

48 Nationals funding May be used to pay for expenses for qualifying national events. This is an acknowledgement for athletic achievement. This fund has more flexibility in regards to the maximum amount of funding allocated compared to the other funds

49 Uniform Funding Used as an aid for clubs to obtain uniforms (will not fund the full purchase) Can only be used after three years have passed Evidence for or intention of fundraising for the purpose of buying uniforms must be demonstrated A detailed distribution plan that displays plans to make sure uniforms will not be lost or stolen must be displayed

50 Student Professional Development Fund
Fund available for students who have achieved significant recognition for work or services in their field of study May be used to further enhance knowledge through conferences, seminars, etc Cannot be used as an internship stipend Applications are available on the SGA website and must have detailed proposals enclosed Contact Liz with further questions

51 Clubs up for de-recognition
Economics Fly Fishing Goodrich Classical Juggling Club Students for Justice in Palestine World Club

52 Questions?

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