What’s an invoice? A Guide for Club Treasurers

Club Treasurer’s Duties Plan budget for club, working with other club leaders Work with SGA Treasurer to keep track of club’s finances Processes all financial transactions for club Keep track of invoices (bills) and other paperwork Petition for funds from SGA Finance Committee and Executive Board

The Role of OSE OSE’s role: Stacy’s role: Ensures compliance with college policies Reviews ALL contracts- no contract can be signed solely by a student Maintain forms used to conduct SGA and club business Help answer questions about event planning and budgeting Stacy’s role: Liaison to clubs & organizations Works with SGA treasurer to process payment for all club bills every Tuesday Along with SGA treasurer, can provide updates on club fund balances

The Role of the Controller’s Office Maintains records of all financial transactions for clubs Provides updates on a monthly basis to OSE/SGA Treasurer- get updates from them, NOT Controller’s Office Processes all check/payment requests received from OSE Processes deposits of fundraised money for clubs Disburses authorized cash advances and reimbursements (petty cash) to treasurers

Club Transactions: Petitioning Requesting funding from SGA for club events Petition form is available on SGA website (http://blogs.goucher.edu/sga/) and in OSE (Pearlstone, 2nd floor) Petitioning process: Fill out as completely as possible- use the Petition Criteria and Checklist form. Contact Gabe Stuart-Sikowitz (VP for Finance) if you have questions Drop off in Gabe’s mailbox in OSE by Friday at noon. Keep a copy for yourself. Gabe will assign you a time to present before Finance Committee on that Sunday night. For requests above $250, you will also need to present before SGA Executive Board on Monday night. Spring/Fall Budgeting Submitting a one-time request to fund the club for the following semester. Must be prepared with budget and documentation for different events Great way to be ready to go for following semester!

Club Transactions: Contracts When do we need a contract? When hiring entertainment for an event When hiring a speaker to present When lessons are being taught on a regular basis (ie: yoga, gymnastics, martial arts) Basically, any time someone is providing a service. When in doubt, ask OSE! How do we get one? Need to talk with OSE- we have a standard, simple contract that we strongly encourage you to use Need to have contract signed by vendor, you, and Emily Perl (or designee) Plan at least a month in advance!

Club Transactions: Waivers When are we required to have participants sign waivers? Events that carry significant risk (rides, games, inflatables, etc) Activities require physical contact (yoga, gymnastics, rock climbing) Students are traveling off campus for a Goucher club activity Does OSE have a waiver we can use Yes! We are happy to share that with you. If you think you’ll need waivers, stop by OSE. What is we don’t sign waivers? We may not be able to pay your bill. So, please be sure to ask if you think you’ll need a waiver.

Club Transactions: Methods of Paying Bills Check request- strongly preferred Used to request a check for services or goods in agreement with petition that was approved by SGA Attach invoice/bill/any documentation Include your club’s account number on form May need to have a W9 form filled out- check with Carol and/or Stacy about this SGA credit card For online purchases. Contact Carol, Dashell , or Gabe for help here Petty cash voucher (reimbursement) Gets your reimbursed for expenses paid out of your own pocket- less than $100 (any reimbursement over $100 will be a check) MUST have original receipts Cash advance Used to get money up front for club activity Can be no more than $250 Clubs can have NO MORE than 1 outstanding cash advance at a time Must be settled within 2 weeks- which means going back to the Controller’s Office with receipts/s and any leftover cash LEAST PREFERRED OPTION!

Club Transactions: Transfers When in the transfer form used? When your club is granted funds from SGA- funds are transferred into your club’s account Processed by Carol and Stacy once/week When you are paying another club or office at Goucher

Club Transactions: Deposits For money raised through fund-raisers or ticket sales Deposit slips are available in OSE Take completed slip and cash to Controller’s Office to deposit Be sure to deposit into your fundraising account (_______-22900-0-1) rather than your general account (_______-51000-0-1)

Review of Sample Forms Petitioning for SGA Funds Petitioning Criteria & Checklist Transfer Form Check Request Petty Cash Voucher Cash Advance Voucher Deposit Slip Compensation Form MUST TALK TO STACY BEFORE AGREEING TO PAY STUDENT, FACULTY, or STAFF

Club Petition Form – Page 1

Club Petition Form – Page 2

Check Request Form

Petty Cash Voucher Form

Cash Advance Voucher Form

W-9 Form

Transfer Requisition Form

Other things to know… Keep copies of paperwork for your records. Petty cash reimbursement and cash advances are available Monday through Friday 8:45am to 5:00pm in the controller’s office. You must have signatures from Carol and Stacy, so don’t wait until the last minute! The college does not reimburse for sales tax. Please present to the vendor Goucher’s sales tax exempt card.

Other things to know…continued! Fundraised money Still must follow college policy in spending this money Follow same payment process to access this money- check request, petty cash, etc. Plan ahead! Checks are printed once a week in the controller’s office. Paperwork must be submitted to Carol by Tuesday morning for a check to be cut by Friday. Take-backs SGA “takes-back” unspent allocations from the previous year and will make certain standard allocations into specific accounts. The Controller’s Office will draft the take-back entry and submit to the SGA Treasurer for review, comment, correction and approval. Takes place in September

Common Problems My petition was rejected. What do I do? Ask the Vice President for Financial Affairs for help. I was told my club’s accounts have been frozen because a cash advance is outstanding. Obtain original receipts and the balance of the unspent funds and turn them into the controller’s office to unfreeze the account. My club is out of money! Make sure that all transfers have been properly accounted for, keep all the petitions that your club has made and use as proof of transfer

Recap Use Club Petition Form to request funds from SGA Be sure to use the Petition Criteria and Checklist form Plan ahead! Don’t wait until the last minute to request money for your event. When in doubt, ask for help from Carol, Gabe, or Stacy- we’re happy to help!