Financial Board Workshop

Fall 2010

Overview

Allocation & Re-Allocation Process

Financial Paperwork/Forms

New for 2010-2011

Reminders

Allocation Period

… already happened (held at the end of each semester; approximately 10 days)

Clubs initially request funds for upcoming events

Allocation Period

Allocations have been reviewed by the Financial Board and the Director of Student Activities, and returned to Club Mailboxes (Located in the Council of Clubs Room)

Not all late and/or incomplete Allocations were reviewed last semester. If you are unsure of whether or not your Allocation has been reviewed, please contact me as soon as possible

Allocation Period

Submit TWO copies: -1 hard copy with all of the appropriate signatures to the CFO Mailbox in the SGA Office (SC347)-1 electronic copy (sent to sga.cfo@marist.edu )

Excel documents can be found on the Club Flashdrive or on iLearn (Clubs/Organizations →Resources →Financial Guides)

Allocation Period

EVENT DESCRIPTIONS SHOULD BE AS SPECIFIC AS POSSIBLE! (Date, time, place, unit costs, expected # of attendees, etc.)

More instructions (including complete guidelines which indicate what can and cannot be allocated for) are available in the “Financial Handbook,” the document’s cover page, and on the Clubs/Organizations iLearn site

Re- Allocation Period

… is happening now! (held during the actual semester)

Clubs are given a second opportunity to acquire funds which were included in the original allocation, but not approved by the Financial Board

Re- Allocation Period

Please read the Financial Board’s comments and re-allocate accordingly

Use the handout from the iLearn site for complete list of steps (“How to fill out an Allocation Budget”) if you need help with the form. You can also contact any member of the Financial Board

Emergency Allocations: KEY WORD- “EMERGENCY”

Re- Allocation Period

If your club did not submit a budget during Allocation period, it MAY be considered during Re-Allocation period, at the discretion of the Financial Board

A letter explaining the reasons for not submitting an Allocation last semester or requesting a meeting with the Financial Board will be helpful in order to obtain funds

SPORTS CLUBS, don’t worry if you are still unsure of how much money you have been given- you will be updated by McCann Staff as soon as more information is available

Types of Paperwork

The following forms can be found in the SGA Office:

Petty Cash

Check Request

Purchase Order

Petty Cash

Used for requests $50 and UNDER

Can be used in advance of purchase or as reimbursement following purchase

Petty Cash

Check Request

Used for requests OVER $50

Can be used in advance of purchase or as reimbursement following purchase

Circle the type of request it is at the top of the form

Check Request

Purchase Order

Used for ordering supplies or services rendered Requests for purchase orders must be made prior

to the items being purchased Payment goes directly to supplier

Purchase Order

Also found in the SGA Office Marist College has a contract with Sodexho- you

MUST contact them for your catering needs first since they have “first rights of refusal”

Food may be purchased elsewhere if… a) Sodexho cannot match the competitor’s price

after a separate quote/invoice has been presentedb) Permission from a Catering Manager is given

THIS POLICY WILL BE STRICTLY ENFORCED

Sodexho Catering Contracts

Student Activity Fee (Paid in tuition, must be used in the same fiscal year!)

SPEND YOUR MONEY! (Failure to hold planned events will result in a notification to Club Affairs and future penalties)

Money in the accounts will not necessarily carry forward… so you MUST spend all leftover money prior to the end of the year!!!

THIS IS EXTREMELY IMPORTANT

New System

Plan ahead in order to avoid scheduling conflicts and meet deadlines ( A “Check Processing Schedule” is posted in the SGA Office and on the Business Office Website)

Remember to fill out an event evaluation (club website) form after it takes place

Changes in spending intentions must be approved by the Financial Board (send an e-mail well in advance)

Events and Activities

Checks must be made payable to Marist College

Do not hold onto cash or checks

Checks are preferable over cash

Deposit Hours:Business Office……………….…..…Weekdays

8:00AM-4:00PMCollege Activities…………….....…Weekends and

after 4:00PM

Club Deposit Procedure

Remember to read the “Club Tip Tuesday” and be aware of important dates and deadlines

Use a tax exempt form from College Activities and present it at the time of purchase (only works for in-state purchases)

Do not use a credit card! YOU WILL NOT BE REIMBURSED!

Reminders/Helpful Hints

Turn in all receipts and paperwork as soon as possible! (Attach original copies to the Petty Cash Slip/Check Request)

Make copies of your receipts!!!

Keep accurate records and KNOW YOUR ACCOUNT BALANCE!

Reminders/Helpful Hints

Complete a Re-Allocation Budget if necessary

Begin preparing for your club’s transition

Feel free to email me at sga.cfo@marist.edu with any questions or concerns

What’s Next?

Mondays.................................................2:00PM-4:00PM

Tuesdays.................................................2:00PM-4:00PM

Thursdays...............................................2:00PM-4:00PM

Office Hours