ASISU FINANCIAL WORKSHOP
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Transcript of ASISU FINANCIAL WORKSHOP
HANDOUTS
Be sure to sign the Training Verification to make sure your club gets credit for coming!
Training Verification
Important Date Cards
Quick Guide to Paying Expenses
W9 Memo
Request for Payment Forms
Incentive Points Requirements
Yearly Club Checklist
TYPES OF FUNDSClub Accounts
C.E.A.S.A.R. Funding
New Club Funding
Fund-Raising Loan
Incentive Funding
CLUB ACCOUNTS
Money raised by or donated to student
organizations
Deposited into their campus account
Campus account required
Can be used at the discretion of club
members
Cannot purchase alcohol, firearms, or ammunition
Exempt status with sufficient financial
oversight
C.E.A.S.A.R. FUNDING* Initial Deposits
Requests accepted during March (Due 3/19/2015)
$500 cap subject to funding availability
Must attend Financial Workshop, New Officer Training, and host a booth at one Student Organization’s Fair to be eligible
* Club Efforts Are Supplemented And Rewarded
C.E.A.S.A.R. FUNDING* Matched Funding
ASISU will match club fundraising efforts based on a ratio determined by Senate Finance Committee
(3:1 Ratio for this year)
Apply for matched funds using the Matched Deposit Request Form (available online)
$400 max determined for this year
June, 26 2015 Deadline… subject to funds available
* Club Efforts Are Supplemented And Rewarded
NEW CLUB FUNDING
Clubs are eligible to apply for New Club Funding if they were organized after the Initial Deposit deadline of the previous year
They may also apply if they were inactive the previous year and did not apply for the $500 Initial Deposit
Clubs may apply for a maximum of $500 $300 for this year
FUND-RAISING LOAN
Loan from ASISU to be used for fund-raising activities
Must be repaid within 5 business days after the fund-raising activity
QUALIFICATIONS TO APPLY FOR A FUND-RAISING LOAN
Must be chartered, recognized and in good
financial standing
Must show financial stability for one full year New clubs, or clubs renewing active status, may apply
for funds up to $500
Active Clubs may apply for any amount up to
$1,000
INCENTIVE FUNDING Money “earned” by clubs
Each point will be assigned a dollar amount by
dividing the incentive funding for that semester
by the total number of points earned. A minimum of 25 points (excluding points from
the student organization retreat) will be required to receive an allocation.
Deadline: March 27, 2015
Activity Categories Include:
• Club Events
• Service
• ASISU Events
• Any ASISU or ISU Event
• ISU Athletics
• Homecoming Events
• Springfest Events
• ASISU Student Organization Retreat
GENERAL INFORMATION
All financial transactions are processed
in am the Involvement Center (1st floor
PSUB)
8am – 5pm Monday - Friday
Account balance must be verified
before disbursing funds
PAYING EXPENSESA Request for Payment (RFP)form must be turned in withtwo authorized signatures inorder to process transactions.
These forms can be
picked up at the
Involvement Center
or downloaded from
our website
Who is authorized to sign?Who is authorized to sign?
PAYING EXPENSES: DOCUMENTATION
Must have original invoices (not
Statements)
Receipts Original
Name of business
Must indicate amount paid
Return all documentation to the
Involvement Center within 5 business days
for processing
Must pay sales tax unless reselling the
items
PAYING EXPENSES:
Any expense over $200.00 must have Involvement Center approval.
All receipts must be turned in 5 business days after transaction.
METHODS OF PAYMENT
Cash Reimbursements
Cash Advances
University Check
Purchasing Card
Requisitions
On-campus vendors
Travel Honorariums (payment to individuals for services)
CASH REIMBURSEMENTS
Bring in Receipts and Request for Payment
$200.00 limit on Reimbursements
Within 5 business days of transaction
Uses Refreshments
Supplies
Do not use food stamps to pay for
items. You will not be reimbursed.
CASH ADVANCES
$200.00 limit
Receipts and leftover money must be
returned within 5 business days
Uses Purchases
Change funds (cash boxes available to check out
in Involvement Center)
No more than two outstanding advances at
any one time
PAYING WITH CASH: RESTRICTIONS
Cash reimbursements and advances may
not be used for: Travel Expenses (including gasoline)
Honorariums
Payment to departments on Campus
Payment’s used with food stamps
UNIVERSITY CHECK For reimbursements over $200.00 Request for payment form filled out Name, SS number/Bengal Card Number &
address. Will need to sign ISU reimbursement form.
W-9 needed for people not in ISU system (ex. Non students and non faculty/staff)
If getting reimbursed for prizes (tablets, gift cards, iPods, kindles, Nooks, other cash prizes) a W-9 NEEDS to be filled out by the winners. ISU will not reimburse if there is no w-9. Very Important
UNIVERSITY CHECK All checks take 15 business days to
process. Reimbursement checks, travel checks,
honorarium checks. Account Director signs, then University
Business Officer. Goes to Accounts Payable to be reviewed and
processed.
PURCHASING CARD
Works just like a VISA
Tax exempt!
$2,500 transaction limit
May not be used for travel, honorariums, or
reimbursements
Card holder has to make the purchase not the
club
If you would like to use the purchasing
card:
Request for Payment
Invoice
Online Order:
Request for Payment
Name of website and web address
Information of items to be ordered
PURCHASING CARD
REQUISITIONS/PURCHASE ORDERS
Requisitions are used when a Purchase Order
is to be sent to a vendor for ordering goods or
services
Reqs are needed for anything costing over
$2,500.00
If an invoice is over $500 and cannot be paid
with the P-Card, a Req will need to be done.
Computers must be bought through the ISU
Purchasing Department
Capital items over $300 must have an ISU
tag
Items over $10,000 are subject to the State
of Idaho bid process
ADDITIONAL INFORMATION
ON-CAMPUS VENDORS
Chartwells
Total Copy Center
Bookstore
Mail Center
Alumni House Outdoor Adventure
Center
Motor Pool
Craft Shop
Games Center
Campus Recreation
Scheduling & Events
Special forms required for some on-campus
vendors
Come to the Involvement Center before
charging anything to get the details and correct
forms
You MUST let us know about all expenditures
and turn in a completed RFP
You MUST charge expenses to these vendors
If you pay with cash, we cannot reimburse
you!
ON-CAMPUS VENDORS
CHARTWELLS Come to the Involvement Center first to make
sure you have enough money in your account
to cover expenses
Make decisions about menu and prices
Club menu vs. Catering menu dineoncampus.com/isu
Talk to Chartwells staff at 282-2242
TOTAL COPY CENTER
Come to the Involvement Center first to get
correct paperwork and Index Code
Go to Total Copy Center and place order
Bring receipt to the Involvement Center
with the Request for Payment form
MOTOR POOL You may use Motor Pool vehicles when
traveling as a club, but are not required to do so
Come to Involvement Center for the proper paperwork Drivers license record check authorization form Vehicle use agreement form Motorpool Request Form
Sedans, minivans, Gas credit card
Club is responsible for $500 deductible
Any medical expenses that incur the individual is reasonable for.
TRAVEL Cash advances/reimbursements are not used
Can pay for trip with own money and get
reimbursed upon returning. (15 business days for
check)
Travel advance can be taken out. Ten days notice needed for advance.
No more then 60 days prior to trip.
The student cashes the check and pays all the bills.
The student receiving the check is responsible for
bringing back all receipts.
Be sure to bring back receipts within five days of
trip If receipts are not returned, a hold will be placed on
your personal account
TRAVEL - MINUTES ISU requires meeting minutes for travel expenses
as documentation.
If your club is not recording minutes, get someone
to.
Minutes are to protect you, the club, and the
university.
We don’t need minutes turned in with travel
paperwork, but we may ask for them anytime and
expect you to provide them if asked.
TRAVEL
Airline Travel Receipt copy
Personal car mileage License plate number A receipt showing you
went somewhere.
Rental car fees and gas Receipts needed
Lodging Receipt with zero
balance
Per Diem (Meals, Tips) No receipts needed
Registration Receipt showing
amount paid
Ground
Transportation (taxi,
buses, shuttle) Receipts needed
Receipts needed upon return:
HONORARIUMS Honorariums are payments to:
SpeakersArtistsGuest instructorsSports officialsDance D.J.sAnyone else performing some type of
service
If speaker is part of the University, we must pay them though the payroll system. Faculty Staff Students
If the payee is not currently signed up with payroll, we have the paperwork.
HONORARIUMS
University Check (15 business days to process) Those not employees or students at ISU
Guest speakers, instructors, etc.
Include all expenses in the honorarium check Travel
Meals
Lodging
Fee
With ADVANCE notice and all proper paperwork filled
out, a check can be prepared for you to present at the
time of your event. Otherwise, the check will be
mailed afterwards(15 business days prior to event)
HONORARIUMS
We need the following info & forms: W-9
Full name
Home address
Social Security number
Signed Independent Contractor Payment Request
Request for Payment showing amount to be paid
Date and description of service performed
Signed contract if paying
$1,000.00 or more
HONORARIUMS
Again, all expenses must be included in one fee.
SO….if you are paying the speaker $500.00 + travel costs, it all has to be one amount. Don’t break down the amounts to be paid. If
paying $500 for speaker fee and $250.00 for travel expenses, the honorarium fee paid will be $750.00. No receipts needed, just the W-9, signed independent contractor payment form, and request for payment.
HONORARIUMS
CONFLICT OF INTERESTThe Idaho State Board of Education gives the following in
its policies and procedures: conflict of interest occurs
when a person's private interests compete with his or her
professional obligations to the Board-governed entity to a
degree that an independent observer might reasonably
question whether the person's professional actions or
decisions are materially affected by personal
considerations, including but not limited to personal gain,
financial or otherwise.
• ISU is considered a Board-governed entity • To avoid a conflict of interest, please do not
purchase items for your club from immediate family or close friends
The State of Idaho has ruled that all monies which flow
through the University are subject to Idaho State spending
guidelines. All funds deposited with the University,
regardless of source, are University funds and must be
handled in accordance with University policy
DEPOSITS Bring all cash and checks to the Involvement
Center
Credit cards are not accepted
Make timely deposits Checks are only good for 90 days
Do not pay expenses from cash deposits
On-campus departments can transfer money
directly to your club account
DEPOSITS & SALES TAX
Garage sales
Admissions
T-shirt sales
Welcome/Finals
basket sales
Space Rentals
Class notes sales
Food sales
Book sales
Other
merchandise
sales
You must remit sales tax from certain fundraisers:
Idaho Sales Tax is 6%
SALES TAX
You may include sales tax in purchase price
of the item and we will separate the proper
amount at the time of deposit
ISU will complete all sales tax returns for
clubs
Check your club mailbox regularly
Get a W-9 for winners of cash prizes and raffle
wins
Original receipts for all transactions
Inventive Points Due March 27, 2015 by 5pm
Initial Deposit Request Forms Due March 19, 2015 by
5pm
DON’T FORGET: