Kristine Koehler Coordinator, Office of Student Life

 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$1200$ Hay bales$350$276 Food (hot dogs, smores, cider) $200$ Decorations$50$17.50 T-shirts$250$0 Marketing$50$37 Total$2050$

 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