Money 101

Who is the VP of Finance ? Name: Andy Zhang Omnivox name: Andy Zhang Communication method: – Emergency: Omnivox What I look like in case all Asians look alike from far…

Stuff to know for Clubs Budget request Fundraised money Request for funding form Consequences

Budget Request Deadline is February XX Hard copy must be handed in at Trudy’s office and electronic copy must be ed to Hard copy must be printed and typed Budget request can be found at clubs.html clubs.html

Budget Request - Descriptions Be specific when listing your club’s activities and expenditures Examples: What NOT to write: -Competition -Prize -Material Examples: What to write: -Summer Splash competition for 2 boats -Prizes for Debate Society’s competition’s 1 st, 2 nd and 3 rd place -Materials to build a robot (screws, aluminum, bolts, etc)

Budget Request - Grants Give a breakdown of how much will be needed for the activity. Examples: What NOT to write: -Competition – 100$ -Material – 50$ Examples: What to write -Competition: -prizes 50$ -gifts for judges 50$ -Material for kiosk: -screws 20$ -wood 200$ -tools 50$

Budget Requests You will receive your club’s budget for the semester at the end of February Loans can be given but must be returned through fundraising

Fundraised money Money fundraised from a club’s activity Example: Bakesale, bagging session, etc. This is YOUR club’s money. This means that you can use it for whatever you want for your club You are OBLIGED to deposit the fundraised money at Wayne’s NO PERSONAL BANK ACCOUNTS

Request for funding Wayne’s World Make sure you’re aware of how much money you have before you spend for your club. You may NOT transfer grants for a different reason. You may however request for more grants. Example: You were given 100$ for a competition but since that activity was cancelled, you want to spend it on a team bonding activity. The best decision would be to contact me through MIO.

Request for funding When requesting for a fund, make sure to KEEP YOUR RECEIPTS and bring them to Wayne’s in order to get a refund. You may collect the money within the next week from Wayne’s after submitting the request. If you need to write a cheque, please provide the information necessary

Consequences If ever you’re caught using Congress’s budget for personal purposes, your club will be suspended and all of your budget will be cut. If you are not able to pay back a loan granted to your club, your club will be suspended

Questions ?