1. KSA Club Treasurer Training May 20, 2008

2. Agenda Sources of Funds Reimbursement Process Funding & Reimbursement Guidelines Treasurer’s Responsibilities Club Funding Request Q&A

3. Sources of Funds

4. Where Does the Money Come From? Unspent club SOFO accounts Student activity fees Dean’s contribution General KSA funding pool for 2008 – 2009 Section BudgetsSocial Budget KSA Committees Pool of Club Funds Revenue from events/activities Corporate Sponsorship Phone-a-thons

5. KSA versus SOFO funds KSA FundsSOFO Funds Come fromStudent dues ($56 per quarter/student) each quarter and allocated by the KSA through annual budget process Revenues generated by clubs through club events / activities RulesSpecific NU and Kellogg rules govern the use of these funds Up to club co-chair discretion and SOFO regulations ManagementClub Treasurer and signed off by KSA VP of Finance and SOFO rep (Deborah Garcia) Club Treasurer and signed off by SOFO rep (Deborah Garcia) Carry-overAny unused funds are taken back into the common KSA fund and reallocated each year Carried over from year to year as in a traditional bank account Held… by KSA VP of Finance and paid out on request … in club account and managed by Club Treasurer Keeping trackAccounts balanced by KSA VP of Finance Monthly account balance sent out by SOFO rep (Deborah Garcia)

6. How Can You Get Funding? KSA Funding – Annual budget allocation process – Form available on-line on KSA website Club Fundraising – Club activities Club dues Ticket sales for specific events – Corporate Sponsorship (Jennifer Johnson / Elizabeth Orr) – Phone-a-thon (Nathalie Harris)

7. Process Timing Club funding document emailed to leaders – May 12th Funding request due via email – June 1st Final day for submitting receipts – June 4th Assessment and allocation – June and July 2008-2009 club budget communicated – August 8th

8. Elements of the Funding Request List of co-chairs Membership numbers current and expected Transition checklist 2007 - 2008 review Plan of events and requested funding Leadership plan for 1Ys and first years Budget Request

9. Transition Checklist Elements Role assignment – Technology representative – CMC representative (certain clubs only) – Treasurer/Finance representative Meeting attendance – Treasurer training (May 20 th and in the Fall) – Club leader kick-off (Today) – CMC orientation (as required) (May 19 th ) – Bi-Quarterly roundtables Additional items – Updated website – Funding guidelines – Communication guidelines – Club Handbooks and Sharepoint (as required)

10. Club Handbooks Maintained as a soft-copy document to allow for effective knowledge transfer between leadership and among club members Contents: – Mission – List of expected events, including leadership transition – List of key club/industry specific resources – Club member’s guide to different roles within industry – List of industry specific recruiting tips – Link to alumni database

11. Club Funding A few notes… – Attendance at events such as roundtable meetings is MANDATORY! Please email if you will not be able to attend an event – Funding will be WITHHELD if the criteria are not met. School funds are a privilege, not a right – We want to work with you to make Kellogg better – this requires effort from all parties

12. Reimbursement Process

13. The Reimbursement Process 1)Club member compiles the original receipts & submits them to the Club Treasurer with an explanatory note for his/her signature 2)Club Treasurer reviews the receipts and fills in and signs a voucher. He/she submits the signed voucher and original receipts to the KSA VP of Finance (Fritz Buerger) OR the Kellogg SOFO rep (Deb Garcia) 3)KSA VP of Finance reviews the vouchers, signs the white voucher and then updates his/her records. He/she passes the voucher and receipts to the Kellogg SOFO rep

14. The Reimbursement Process 4)The Kellogg SOFO rep spot checks vouchers, files a copy and delivers the vouchers and receipts to SOFO for processing 5)SOFO processes the vouchers, cuts checks and mails them or holds them for pick up 6)Kellogg SOFO rep picks up the checks, files a copy and puts the checks in student mailboxes

15. The Reimbursement Process - Overview Original Receipt is collected by Club Treasurer Club Treasurer completes voucher and submits to KSA/SOFO KSA VP reviews voucher and signs SOFO checks voucher and submits for processing SOFO processes and cuts a check SOFO delivers check to student who incurred expense

16. Reimbursement Voucher

17. Reimbursement Process SOFO reimbursements – Give to directly to Deborah Garcia (located in office 250A) KSA reimbursements – Put in Fritz’s mailbox It takes approximately 10 – 12 business days for the checks to be cut and delivered after Deborah processes them This also depends on when she gets the invoice from Fritz, and a student worker to help her process all the checks (so please be patient before emailing me that you haven’t gotten a reimbursement check)

18. Funding and Reimbursement Guidelines

19. KSA Funding Guidelines Must be used for activities that benefit the student body. All activities must be made available to the whole student body. Speakers: Tangible or physical gift of reasonable value. No fees, accommodations, meals or transportation (NU rule). Events: Entry fees for tournaments and case competitions. No transportation or lodging. Copying: All copying must be done in Copy Center Mailbox Stuffing: Once per quarter with cost under $100 Clear all expenses under $400 for remainder of the quarter through VP of Finance When in doubt, apply the “in front of the class” rule

20. Reimbursement Guidelines Budget and reimbursement process maintained by club treasurer / finance co-chair Must provide correctly completed voucher signed by club treasurer and receipts/proof of payment Receipt requirements – original, itemized, proof of payment in under 90 days No reimbursement for Illinois Sales Tax (use NU tax- exempt letter located on club web site)

21. Payments to Individuals Contracts are required to pay INDIVIDUALS for services rendered Students CANNOT sign contracts Contracts must have: – Kellogg school administrator’s signature – Vendor signature – Individual’s social security number – Individual’s permanent address Additional information or questions: See Kellogg SOFO Rep

22. Treasurer’s Responsibilities

23. Serve as the main financial contact between club/club members and KSA VP Finance (Fritz) and Kellogg SOFO rep (Deborah) Sign transfer forms Sign off on all club expenses – vouchers must have your signature Apply for KSA funds by June 1st Final Day for Reimbursements June 4th Treasurers MUST maintain financial records for KSA and SOFO budgets

24. Key Contacts Fritz Buerger – KSA VP Finance & Business Development – Email: fbuerger2009@kellogg.northwestern.edufbuerger2009@kellogg.northwestern.edu Deborah Garcia – Kellogg SOFO Rep – Email: d-garcia2@kellogg.northwestern.edud-garcia2@kellogg.northwestern.edu – Office: 250A – Phone: 467-3525

25. Frequently Asked Questions What happens to my KSA funds from this year? – “Use it or lose it” by 6/1. Vouchers must be in my box by 6/4. When is my budget due? – Budgets are due via email on 6/1. Where can I get more vouchers? – Deborah Garcia has voucher books in her office What if I don’t have a SOFO account? – Deborah Garcia can help you arrange for a new SOFO account How long does it take for me to get reimbursed? – Roughly 2 weeks Where is the club stuff located online? (NU tax letter, rules, etc) – KSA Clubs page on Serial

26. Questions?