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Published byArthur Robertson Modified over 7 years ago
Kristine Koehler Coordinator, Office of Student Life firstname.lastname@example.org
Open and maintain an off-campus bank account Set up a system of checks and balances › Have at least two signers › Put your advisor’s name on the account Keep good records of your account numbers, locations, and balances
DON’T deposit organizational funds in a personal account DON’T use your personal debit or credit card for organizational expenses DON’T keep a lot of cash around DON’T sign any contracts on behalf of the University
Two types of budgets: annual and event- based Budgets should reflect all expected expenses and income Budgets are a tool for planning and prioritizing club activities Budgets should be realistic › Don’t underestimate your expenses › Don’t overestimate your income
Expenses expectedactual Income expectedactual T-shirts$175$350Account balance $350 Office supplies $30$25Member dues $600$570 Fall event$2700$2347ASNAU funds $500$0 Spring event $1300$1743Sponsor- ships $3000$1000 Marketing$150$134Fund- raisers $1500$375 Total$4355$4559Total$4450$2295
Fall Hayride 2010Expected ExpenseActual Expense Wagon rental$1200$1075.33 Hay bales$350$276 Food (hot dogs, smores, cider) $200$214.97 Decorations$50$17.50 T-shirts$250$0 Marketing$50$37 Total$2050$1620.80
Once you set the budget, keep a close eye on it Assign one person to track expenditures and income Control spending Assess at the end of the year to determine what needs to be changed for next year
DateDescriptionExpenseIncomeBalance 8/30/10Beginning balance $500 9/15/10Flyers$20$480 10/25/10Candy & supplies for fundraiser $87$393 10/31/10Proceeds from Halloween fundraiser $432$825 11/15/10Club t-shirts$317$508 1/23/11Donation from Joe’s mom $50$558
You need this to get paid! Student organizations are not allowed to use the University’s tax ID number Apply online through the IRS This is not the same as having legal non- profit status
Apply for funding from ASNAU or STAC Hold a fundraiser on campus Contact local restaurants about fundraisers Get as creative as you want, but there are a few exceptions: › Raffles › Bake Sales › Human Auctions
Contact local or national businesses about sponsoring the group › Money › In-Kind donations Ask for donations from parents or family members › Matching Gifts Donations to the University Foundation can be used as tax write-offs
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