managing your money heather bisher becky patt. objectives to understand how hall accounts work as...
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![Page 1: Managing Your Money Heather Bisher Becky Patt. Objectives To understand how Hall Accounts work as well as the mechanics of how to use Hall Accounts (depositing,](https://reader035.vdocuments.net/reader035/viewer/2022062717/56649e225503460f94b0f2a6/html5/thumbnails/1.jpg)
Managing Your Money
Heather Bisher
Becky Patt
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Objectives
• 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 understand and use monthly financial statements for the hall and be able to print them from MINE
• To learn how to work with SSMs and Hall Council treasurers regarding funding
• To learn how to request funds for programs/events
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How to Get Started
• 9 Student Staff Members
• Hall Council
• LLCs (i.e. SCP)
The first coin minted in the US was a silver dollar.
It was issued on October 15, 1794.
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A Matter of Style
• Two examples
• Excel Spreadsheets(see ORLNSP website)
• Tips/Suggestions– Ours– Returners
A quarter has 119 grooves on its circumference.
A dime has one less.
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Managing the Budget
• Reconcile Monthly
• Record S#s, Transfers, Deposits, etc as you go along (don’t wait 2 months to try to catch up!)
• Keep ALL info in ONE location
• Staple, 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%.
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Reconciling Your Budget (MINE)
• Tip– A column has been designated in your
budget to record all items that have cleared the system; update regularly
As of 1976 there was $77 billion worth of paper currency in circulation in the United States.
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Dates 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.
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Utilizing 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.
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S#s, Transfers, Deposits, and Reimbursements
• It’s practice time!
• Tips
• Q&A in small groups
The amount of play money printed each year for use in Monopoly totals more than the amount of real currency issued
annually by the United States Government.
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Working 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.
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Working 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.
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THANK YOU!
Happy Budgeting!