Navigating Club Finances

Report
Catherine Hensly
SGA Treasurer
[email protected]
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Pg. 18 of the SGA Bylaws:
 Not attending Club Orientation
◦ 20% budget reduction

Not having a constitution on record with the Club
Coordinator
◦ 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
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
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
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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!
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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
same!
A sample ledger can also be found here.
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
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
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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
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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
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
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
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
Check Request Form
◦ Used for payments made directly to vendors,
independent contractors, artists, etc.
◦ Requires supporting documents (i.e. receipts, contracts,
etc.)
◦ 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
vendor
◦ Attach this to the check request form
◦ But first, check with the Business Office; they may
already have one on file!
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SGA Account Transfer Form
Perfect for co-sponsoring events
Transfers funds from one club/account to
another
◦ Organization/Club to be Debited is the club giving
funds
◦ Organization/Club to be Credited is the club
receiving funds
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
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
cashier
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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
Friday**
**Delays may result if forms are not completed
correctly/completely.
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
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
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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
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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
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
The Business Office is located on the ground
floor of the Cocke Building
◦ Office hours: Monday-Friday, 8:30am-4:30pm
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Plan ahead!!!
Keep detailed records
◦ Photocopy or scan forms & receipts before submission
◦ Record transactions as they happen for your ledger
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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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