Managing Your Money Aurora Israelson Heather Bisher.
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Managing Your Money Managing Your Money Aurora Israelson Heather Bisher
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Transcript of Managing Your Money Aurora Israelson Heather Bisher.
Managing Your MoneyManaging Your MoneyAurora IsraelsonHeather Bisher
ObjectivesObjectives
To understand how Hall Accounts work as well as the mechanics of how to use Hall Accounts (depositing, spending, S#s, etc)
To learn how to effectively keep track of hall funds and budget them correctly
To learn how to work with SSMs and Hall Council treasurers regarding funding
To learn how to request funds for programs/events
How to Get StartedHow to Get Started
9 Student Staff MembersHall CouncilLLCs (i.e. SCP)
The first coin minted in the US was a silver dollar.
It was issued on October 15, 1794.
S#s, Transfers, Deposits, and S#s, Transfers, Deposits, and ReimbursementsReimbursements
It’s practice time!Tips
The Federal Reserve shreds 7,000 tons of worn out currency each year. As you probably guessed, the note most frequently replaced is the $1 bill. There are currently four billion $1 bills in circulation,
and the life expectancy of each is approximately 18 months.
A Matter of StyleA Matter of Style
Two examplesExcel Spreadsheets
(see ORL website)Tips/Suggestions
OursReturners
A quarter has 119 grooves on its circumference.
A dime has one less.
Managing the BudgetManaging the Budget
Reconcile MonthlyRecord S#s, Transfers, Deposits, etc
as you go along (don’t wait 2 months to try to catch up!)
Keep ALL info in ONE locationStaple, paperclip, or keep all receipts
in one location somehow
During the American Revolution, inflation was so great that the price of corn rose 10,000%, the price of wheat 14,000%, the price of flour 15,000%, and the price of beef 33,000%.
Dates to RememberDates to Remember
15th of Each Month (new statements come out on MINE)
You’ll go over your budget with your supervisor 3 times a year. October 15 February 15 Hall Closing** These dates may
vary!
Until the 20th century dogs’ teeth were used as money by Solomon Island natives.
Utilizing Additional FundsUtilizing Additional Funds
LLC vs. RHA Funds (see website)Staff Development Funds
It costs more to buy a new car today in the US than it cost Christopher Columbus to equip and undertake three voyages to
and from the New World.
Working with SSMsWorking with SSMs
Be clear in expectations of appropriate fund usage
Be clear in directions/instructions on how to get money
Some might get very confused so be very step-by-step with them
Keep reimbursements to a minimum
America once issued a 5-cent bill.
Working with your treasurerWorking with your treasurer
It’s very similar to working with your SSMs!
Make sure you work with the treasurer so that they get the experience of managing an account
Share the responsibilities for fiscal oversight
Tips from returning staff
Until the 19th century, solid blocks of tea were used as money in Siberia.
THANK YOU!Happy Budgeting!
