Navigating Club Finances

Catherine Hensly
SGA Treasurer
[email protected]
Pg. 18 of the SGA Bylaws:
 Not attending Club Orientation
◦ 20% budget reduction
Not having a constitution on record with the Club
◦ 20% budget reduction
Not participating in mandatory events organized
by Club Coordinator/SGA Treasurer
◦ 5% budget reduction for each event
Not maintaining & submitting a monthly ledger
◦ 5% budget reduction per missing ledger
Business statements come out around the 15th of
each month
◦ I will put these in your club boxes for you to pick up and
will send a blast email once they are available
The idea: check your records against those of the
Business Office
Ledgers are due the 25th of each month
◦ I will collect them the following morning; penalties will be
incurred thereafter
Hard copies can be submitted in the appropriate
folder in the SGA Treasurer box
Alternatively, digital copies may be emailed to
[email protected] with the name of the club &
“ledger” in the subject line
◦ I will reply to these; if you don’t receive a reply after a
couple of days, double check that the email actually went
through! It is your responsibility to be sure they are
completed and submitted!
Name of club, date
of last revision
Account number
Name of treasurer /
person who created
ledger, date
Reconcile these two
columns; they
should be the
A sample ledger can also be found here.
Best way to do them: record each transaction as
you complete it!
◦ I recommend maintaining an Excel or Word document
chronicling transactions; then, all you have to do is send
the most recently saved copy!
Check and see if your club already has a ledger
saved somewhere…
◦ That way, you can just model yours after theirs and keep
the log going!
When looking at Business Statements:
◦ “Debits” are amounts deducted from your account
◦ “Credits” are amounts added to your account
◦ “Ending Balance” is the amount currently in the account
as of the date issued
New policies  Will be available online in Excel (The
old vouchers are still accepted and are available
through the Business Office)
Only one voucher (up to $50) per week
◦ Put the completed voucher in the appropriate folder in the
SGA Treasurer Box by 10AM Mon.-Thurs.
◦ I will sign them and take them over the Business Office
where they will be ready for you that afternoon!
◦ Receipts must be turned into the Business Office within a
week to complete the request
◦ Cash can only be withdrawn again after closing out the
previous Petty Cash request (i.e. returning excess funds
and turning in the receipts)
◦ If receipts and/or money are not returned in a timely
fashion, the student account of whoever took out the cash
will be charged
Other forms that you may need/encounter include:
 Advance Request
 Advance – Expense Report
 Reimbursement Expense Form
 Check Request
 W-9 Tax form (If not already on file)
 SGA Account Transfer Form
 Deposit Transmittal
These are available from: Hollins SGA Forms 
Treasury/Budget Forms and from the Business
Office Webpage
The Advance Request form
Must follow-up with an Advance Expense
Report detailing how the funds were spent
◦ Designed to acquire cash before an event/purchase
◦ For amounts >$50 (otherwise go for Petty Cash)
◦ Requires supporting documents (i.e. price quotes)
◦ Return unspent money to the Business Office
◦ Requires supporting documents (i.e. receipts)
Often, it is easier to do a Reimbursement
Requires only one form rather than two
Repays cash after an event/purchase
Requires supporting documents (i.e. receipts)
Can be direct-deposited for accounts that are setup to do so
Check Request Form
◦ Used for payments made directly to vendors,
independent contractors, artists, etc.
◦ Requires supporting documents (i.e. receipts, contracts,
◦ All original receipts should be saved and given to the
Business Office as needed. There are no exceptions to
not having a receipt.
Make sure to fill out a W-9 tax form for any new
◦ Attach this to the check request form
◦ But first, check with the Business Office; they may
already have one on file!
SGA Account Transfer Form
Perfect for co-sponsoring events
Transfers funds from one club/account to
◦ Organization/Club to be Debited is the club giving
◦ Organization/Club to be Credited is the club
receiving funds
To make a deposit to an SGA account, complete a
Deposit Transmittal form
◦ List checks individually by check number
◦ The “Denomination Quantity” section at the bottom will
automatically calculate total cash, simply enter the count
of each
If funds were fundraised, be sure to denote as
much in the description
◦ Fundraised money rolls over from year to year!
Deposits are made directly to the Business Office
◦ These do not require the approval of the SGA Treasurer,
just take the completed form and cash/checks to the
Place all completed forms (other than Petty
Cash vouchers and deposits) in the
appropriate folders in the SGA Treasurer box
by 5:00pm on Sunday
I will review & turn these forms into the
Business Office by 3:30pm on Monday**
Funds will be ready starting at 8:30am
**Delays may result if forms are not completed
Purchasing Policy & Tax Exempt Stores
◦ Outlines the general purchasing policy guidelines
◦ Pg. 4 lists Tax Exempt Stores & protocols for each
Tax will not be reimbursed for listed stores
◦ Be sure to check this list first!
◦ Many require a Tax Exemption Card, available from
the Business Office
 Cards must be returned the following business day
◦ When using a Tax Exemption Form, you must only
buy things for the club/organization
 If you plan to buy personal items, you must do so on a
separate purchase
If you need additional funding
◦ You can also fundraise, find a co-sponsor for an event,
and/or petition HAB!
Not more than once per semester
Email [email protected] >48 hours before
the designated Treasury Board meeting time
◦ We will be meeting on Sundays at 7pm, so notification is
due no later than Friday at 7pm or else it will wait until
the following week’s meeting
Bring with you:
Refer to: How to Petition Treasury Board and Title
5 of the SGA Bylaws
◦ 8 copies of the petition
◦ 1 copy of your club’s up-to-date ledger
◦ 1 copy of your club’s constitution
Budget hearings happen in the Spring (more on
that later…)
Fill out forms digitally (i.e. in the Excel
document) rather than hand-writing them
Please paper clip supporting documents
Tape all receipts to a sheet of blank copy paper
Aim for succinct descriptions on forms
Fill out forms accurately and completely, and if
you’re unsure, ask!
◦ Catherine Hensly, SGA Treasurer
◦ Pace Martin, Business Office Associate Controller
◦ Doug Smith, Director of Student Activities
The Business Office is located on the ground
floor of the Cocke Building
◦ Office hours: Monday-Friday, 8:30am-4:30pm
Plan ahead!!!
Keep detailed records
◦ Photocopy or scan forms & receipts before submission
◦ Record transactions as they happen for your ledger
The 2011-2012 Club Handbook has lots of
helpful insights!
If in doubt:
1. Check the SGA tab on My.Hollins & all its nifty links
2. Email me at [email protected] and/or speak with
Pace Martin in the Business Office 

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