Treasurer’s Workshop Fiscal Year 2016 Roger DaGama, Treasurer – Jacquelyn Langham, Chair, Finance Committee – Blanka Caha, SGA Business Manager –

Communication Club-signers Book Two authorized signers, President and Treasurer Assuming financial responsibility Club-signer list – KEEP IT UPDATED Do you need your FY16 Budget? The Lynx Supplemental forms, Travel forms, etc. Mailboxes Resources – Office Hours Standardizing Transitions

Financial Calendar Outlines important deadlines and events Found at and in the Treasurer’s Quick Reference Guidewww.uvm.edu/sga July 1, 2015Start of Fiscal Year 2016 September 9 and 10, 2015Treasurers Workshop (one session MANDATORY for all Clubsigners) December 9, 2015 Last day for spending during the fall semester. Clubs will not be allowed to spend during the winter session unless a written request is given to the SGA Treasurer. December 9, 2015 Budget request forms for FY16 will be released. Please pick up all necessary materials from the SGA Office. January 27 and 28, 2016Budget Workshop (one session MANDATORY for all treasurers) February 5, 2016 Budget Requests are due. All necessary materials must be submitted to the SGA Office by 3pm. No late submissions will be accepted. February 8, 2016 Budget hearings begin. These appointments will be made by the Finance Committee with each club as it deems fit. February 26, 2016Budgets posted for organizations’ review. February 29, 2016Appeals Process Begins March 15, 2016Budgets sent to SGA Senate for approval. April 15, 2016All summer financial paperwork due to the Finance Office. May 4, 2016 Spending for School Year (FY16) will close for all organizations unless a written request is given to the SGA Treasurer. June 10, 2016SGA Finance Office will close all FY16 spending. June 30, 2016End of Fiscal Year 16

Account Details Chartstring Source Numbers

Budgeted Fund (130) Funded by the Student Activities Fee Allocations determined by the SGA Finance Committee Budget Supplemental Funding Planned expenses are outlined in budget Budget reallocation Money does not carry over year-to-year

Fundraised fund (131) Funds raised by the organization Money must be spent to benefit the club and its goals Spending is not limited budget allocations Funds are carried over into the next fiscal year Cash and check collections must be administered by two people and deposited immediately

Donations Fund (311) Processed through the UVM Foundation Alumni outreach 5% processing fee on all donations Additional information is available on the UVM Foundation website at Contact Treasurer with interest to organize fundraising campaign

Account Ledgers Uvm.edu/sga Clubs Club resources

UVM Foundation Resources Go.uvm.edu/givesga Select club Customizable SGA Logo Banner No external accounts permitted (e.g. gofundme, checking/deposit) accounts)

Responsibility Centered Model Tiered system Financial incentive for clubs abiding by Financial Policies Phase 3 – fundraising shortfall reductions for FY17

Frozen Accounts Cannot access money from either the budgeted (130) or fundraised (131) account Accounts may be frozen if a club: Has insufficient balance in accounts or overdraws its accounts Fails to repay petty cash Defaults on a loan No longer “in good standing,” by Club Affairs Committee standards Unauthorized Spending (see next slide) Unfreezing accounts – rectify above issues and meet with Treasurer

Unauthorized Spending What Constitutes unauthorized spending? Spending without PO authorization/approval/allocation PO – Invoice – Payment Hiring without consulting Finance Office Outside accounts (gofundme, deposit accounts)

Purchase Order Request (PO) Legal promise of payment from the University Most vendors accept POs Submitted before purchase - NO BACK-DATING or REIMBURSEMENTS Requests submitted at least 7-10 business days in advance UVM cuts checks on Tuesdays and Fridays

Purchase Orders

How to fill out PO Request Give the FULL vendor name and address, this includes the Zip Code When renting a vehicle/bus give ALL of this information Hurry and ASAP are NOT a date Remember: For a check – you must have some type of quote/invoice/statement saying you owe the vendor something! Select the fund(s) Select only one

Purchase Orders (cont’d) Do NOT commit money to any vendor before PO Unauthorized Spending Have ALL necessary paperwork before dropping anything in the PO box Invoice, W9, Independent Contractor, etc. Paperclips! Respond promptly to notices from Treasurer A request copy will arrive in club’s mailbox This proves that the request has been submitted, but does not mean that it has been approved R# & P#

Blanket Purchase 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 Convenience & Responsibility

Transaction History Reports Dispersed monthly from Keep track of transactions made on your 130 and 131 accounts Inform SGA Finance Office ASAP of any charges that you do not recognize! Additional information on how to read reports is on the SGA Resources for Clubs website

Transaction History Reports

Vehicle Rental Risk Management approval for driving all rentals Minimum age of 19 years old Course certification er_train/index.html er_train/index.html Transportation policy: nts/sgatransportationpolicy.pdf nts/sgatransportationpolicy.pdf

SGA Vehicle Rental Must be reserved no more than four weeks in advance SGA Fleet 8 Vans (12 passenger) at $70/day 1 pick-up truck at $60/day

Outside Vendor Vehicle Rental/Travel Outside vendors Cars/vans Avis (12 passenger vans) - reserve by (5+ days, driver names) Hertz – (cars/SUVs) reserve thru Lynx Enterprise (driver must be at least 21 years old) – reserve online School Bus (quotes from each vendor) First Student (preferred vendor) STA/Mountain Transit Coach Bus Premier Coach (contracted vendor) Lamoille Valley Coach Airfare - $500/person, 2 person max for $1,000 limit per year Hotels - $120/4 people/room/night These purchases require a purchase order Must fill in additional information section of Purchase Order Request Form

Renting from Avis & Hertz

Additional Required Forms Payment to an individual for providing service W9 Form for new vendors Independent Contractor Form (each payment) Base Contract Form Purchase of products with University symbols Licensing Waiver – Stricter for FY16 No order before approval Ordering office supplies (no PO request form needed) Use UVM Bookstore/Print & Mail Center Orange Slip Staples Credit Card (Sara)

W9 Form Federal Law and UVM policy require W9 for all vendors Employee ID# or SSN must be on the signed W9 Needed before the PO request can be submitted Submit for new vendors only

Hiring Student Employees Few clubs approved to hire employees All new hires must be discussed with Blanka before work begins

Independent Contractor Form Name and last 4 of SSN of payee. Unit/Department is Student Government Association. Seek citizenship status from vendor Only fill out Sections I, II, and III, with Part C unless dealing with a researcher. Don’t forget to fill in the description of services! Do not sign here! This is for the Finance Office.

Base Contract Form All contracts must be signed by vendor before requesting Pat’s signature – required for all contracts longer process

Food Purchases 131/cultural orgs only University-wide policy requirements Sodexo catering waiver is needed for outside catering on campus, except: Purchasing pizza Catering by University approved vendors Potluck for club members The catering waiver must be submitted online through the Conference and Events Services website. 2 weeks for approval

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 Finance Office business hours

Petty Cash Used sparingly – gas/tolls The responsibility is placed on Custodian Closed out with receipts and remaining cash following Tuesday One Petty Cash Two signatures (Clubsigner and Custodian)

‘Orange Card’ (Charge card) Used to pay for purchases within University Ex: Print and Mail Center, Bookstore One transaction per card Authorized by a SGA authorized signer (Sara/Blanka/Roger)

Loans Granted with approval of SGA Treasurer LT Projects/Down Payments Repayment schedule SGA reserves the right to derecognize an organization for failing to repay No interest applied

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

Reserving Space on Campus Use online server, Virtual EMS Easily found through UVM A-Z search Space must be clean to avoid charges Make reservations at least 7 days in advance Uvm.edu/sga for more instruction

Additional funding Supplemental, Gas Supplemental, Capital Funding, Nationals Funding, Diversity Enhancement Funding, Uniform Funding, Professional Development All Supplemental Funding requests must include evidence for or intention of fundraising and completed forms Submit forms on the Lynx by 12 noon on Mondays Hearing with Finance Committee for all requests except Gas Requests over $5,000 require an advisor’s approval SGA Senate approval is needed for requests over $2,000

Supplemental Funding Used for unforeseen expenses Qualifying for competition, conference arises General guidelines: Hotels: Up to $120/night/room with 4 people/room Flights: Up to $1,000/semester for 2 people

How to Request Supplementals  Step 1: Log onto the Lynx at

How to request Supplementals  Step 2: Search for SGA Finance Committee

How to request Supplementals  Step 4: Select appropriate form

How to request Supplementals  Step 5: Follow all instructions on form and submit. You will receive an confirmation shortly after submission.

How to request Supplementals  Step 6: Check periodically for scheduling of hearing time (except gas) Response and allocation will be communicated via by 12 noon on Friday Further information may be requested post-hearing if necessary bring all quotes and signatures to hearing & other supporting documents to hearing

Gas Supplementals Because gas prices are variable, gas is never budgeted for Include route and mileage Follow the equations to calculate the estimated cost This must be done before traveling No reimbursements will be made for any club expenses

Nationals Funding Expenses for qualifying national events. This is an acknowledgement of achievement. More flexibility on funding caps

Uniform Funding Eligible every three years Detailed distribution plan for storing and maintaining uniforms

Diversity Enhancement Fund Can be used for events cultural or religious in nature in order to enhance diversity and to benefit the campus Examples: holiday events, speakers, etc. Food may be allocated for under some circumstances per the discretion of the FC

Capital Projects Special funding available for tangibles with life expectancy of > 5 yrs. Price quotes for the item(s) and additional supporting information

Supplemental Questions?

Clubs up for De-Recognition Investment Club (outstanding petty cash) Men’s Basketball (no contact on negative accounts) Women’s Basketball (no contact on negative accounts) Young Americans for Liberty (no contact on negative accounts)

Turn in Advisor Agreement Form!