1. 2006 Treasurer Training

2. Sources of funds Reimbursement Process Funding & reimbursement guidelines Treasurer’s Responsibilities Club Funding Request Q&A Administrative issues Agenda

3. Sources of funds Reimbursement Process Funding & reimbursement guidelines Treasurer’s Responsibilities Club Funding Request Q&A Administrative issues Agenda

4. Your club funds come from the KSA (student dues) and club activities

5. KSA Funds –Annual budget allocation process –Form available on-line on KSA website SOFO Funds –Club activities Club dues Ticket sales for specific events –Corporate Sponsorship (Jennifer Johnson) –Phone-a-thon (Lindsay Marciniak) How can you get funding?

6. KSA FundsSOFO Funds Come fromStudent dues ($56 per quarter/student) each quarter and allocated by the KSA VP of Finance 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… 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) KSA versus SOFO funds

7. Sources of funds Reimbursement Process Funding & reimbursement guidelines Treasurer’s Responsibilities Club Funding Request Q&A Administrative issues Agenda

8. Club member compiles the original receipts & submits them to the Club Treasurer with an explanatory note for his/her signature Club Treasurer reviews the receipts and fills in and signs a voucher. He/she submits the signed voucher and original receipts to the GMA VP of Finance OR the Kellogg SOFO rep KSA VP of Finance reviews the vouchers, signs the white voucher and then updates his/her records. He/she passes the voucher and and receipts to the Kellogg SOFO rep The Kellogg SOFO rep spot checks vouchers, files a copy and delivers the vouchers and receipts to SOFO for processing SOFO processes the vouchers, cuts checks and mails them or holds them for pick up Kellogg SOFO rep picks up the checks, files a copy and puts the checks in student mailboxes 1 2 3 4 5 6

9. Reimbursement Voucher

10. SOFO reimbursements – give to directly to Deborah Garcia KSA reimbursements – put in Brad’s mailbox It takes approximately 10 – 12 business days for the checks to be cut and delivered after Deborah processes them Reimbursement Process

11. Sources of funds Reimbursement Process Funding & reimbursement guidelines Treasurer’s Responsibilities Club Funding Request Q&A Administrative issues Agenda

12. 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 (only 3.6 cents a copy) Mailbox Stuffing: 1/quarter, <$100 Clear all expenses > $400 for remainder of the quarter through VP of Finance When in doubt, apply the “in front of the class” rule KSA funding guidelines

13. 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, <90 days No reimbursement for Illinois Sales Tax (use NU tax-exempt letter located on club web site) KSA reimbursement guidelines

14. Payments to Individuals Contracts are required to pay INDIVIDUALS for services rendered Students CANNOT sign contracts Contracts must have: (1)Kellogg school administrator’s signature (2)vendor signature (3)individual’s social security number (4)individual’s permanent address Additional information or questions: See Kellogg SOFO Rep

15. Sources of funds Reimbursement Process Funding & reimbursement guidelines Treasurer’s Responsibilities Club Funding Request Q&A Administrative issues Agenda

16. Treasurer’s Responsibilities Serve as the main financial contact between club/club members and KSA VP Finance (Brad) and Kellogg SOFO rep (Deborah) –Sign transfer forms Sign off on all club expenses – vouchers must have your signature Apply for KSA funds by 5/31 Final Day for Reimbursements 5/31 Maintain financial records for KSA and SOFO budgets

17. Brad Wiedman – KSA VP Finance & Business Development (bwiedman2007@kellogg.northwestern.edu) Deborah Garcia – Kellogg SOFO Rep (d-garcia2@kellogg.northwestern.edu) Key Contacts

18. Sources of funds Reimbursement Process Funding & reimbursement guidelines Treasurer’s Responsibilities Club Funding Request Q&A Administrative issues Agenda

19. Sources of funds Reimbursement Process Funding & reimbursement guidelines Treasurer’s Responsibilities Club Funding Request Q&A Administrative issues Agenda

20. Frequently Asked Questions: What happens to my KSA funds from this year? –“Use it or lose it” by 5/31. Vouchers must be in my box by 5/31. When is my budget due? –Budgets are due via email on 5/31. 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 2-3 weeks Where is the club stuff located online? (NU tax letter, rules, etc) –Bottom left of serial – Student Organizations/Club resources link Where can I get information on SOFO? –http://www.kellogg.nwu.edu/sofo/http://www.kellogg.nwu.edu/sofo/

21. Questions?

22. Sources of funds Reimbursement Process Funding & reimbursement guidelines Treasurer’s Responsibilities Club Funding Request Q&A Administrative issues Agenda