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Treasurer Training FY2012

VIEWS: 6 PAGES: 53

									Treasurer Training FY2012
    Presented by: SAFAC Office
                                 Updated: 6/27/11
                 Chapters
1.    Introduction
2.    Account Information
3.    Purchasing Forms/Documentation
4.    Deposits
5.    Gifts/Prizes/Gift Cards
6.    Travel
7.    Contracts
8.    Internal Charges
9.    Budgeting/Recordkeeping
10.   Funding Options
11.   Fiscal Closing
  Chapter 1
Introduction    What is the SAFAC Office?
               The SAFAC Office oversees all undergraduate and joint
               student organization accounts. This includes:
                   – Processing Reimbursements
                   – Paying for Services/Merchandise
                   – Contracting Services
                   – Funding Transfers
                   – Creating Accounts
                   – Processing Deposits

               The SAFAC Office is comprised of the following
               people/committees:
                   – The SAFAC Committee
                   – The Good Idea Fund Committee
                   – Joseph Gonzalez- Assistant Dir. for Campus Engagement
                   – Casey Sharkey – Coordinator for Campus Engagement
                   – Kia Perkins – Admin. Coordinator for Campus Engagement
  Chapter 1
Introduction
                         SAFAC Committee
                           Student Activity Fee Allocation Committee


               The SAFAC Committee has 18 undergraduate student
               members:
                    –   1 Chair
                    –   1 Vice- Chair
                    –   1 USGA Student Org Representative
                    –   1 Club Sports Representative
                    –   1 Fraternity & Sorority Life Representative
                    –   13 Liaisons

               The SAFAC Committee distributes the yearly student activity fee to
               recognized undergraduate and joint student organizations in a process
               called Annual Allocations.

               There is roughly $1.6million that the SAFAC Committee gives out each
               year. Approximately $220,000 is allocated towards campus-wide
               concerts and approximately $1.4million is allocated towards recognized
               undergraduate and joint student organizations.
  Chapter 1
Introduction
               Good Idea Fund Committee
                The Good Idea Fund Committee has 5 undergraduate
                student members:
                     – 1 Chair
                     – 1 Secretary
                     – 3 Liaisons

                The Good Idea Fund Committee distributes student activity fees to
                chosen applicants which pitch ideas that will benefit the undergraduate
                student body.

                Any student, faculty, or staff member may apply. Some awarded past
                events included Guest Speakers such as:
                     – Andrew Ross Sorkin
                     – Salman Rushdie
                     – Lupe Fiasco

                Note: Student Organizations may not apply. Members of organizations
                may apply if the idea is not related to the student organization
Chapter 2 – Account Information

This chapter will focus on:
   – 17-SAFAC Account Number
   – 71-Rollover Account Number
   – Off-Campus Bank Accounts
 Chapter 2
  Account              17- SAFAC Account
Information   This account is where any money awarded by the Student Activity
                 Fee Allocation Committee will be placed.
                 ◦   This account will consist of:
                      6-Digit Fund Number: example (170545)
                      4-Digit Org Number: example (4199)

                 ◦ You may be requested by different departments for your account
                   number. They are asking for your fund and org combination. You full
                   printed account number will look like: 170545-4199.

                 ◦ Your fund and org number for your 17-SAFAC and 71-Rollover
                   accounts are different

                 ◦ This account has rules and restrictions that apply. These rules and
                   restrictions can be found in the “Policy & Procedures Manual” located
                   on the SAFAC Website at: www.drexel.edu/safac

                 Note: Graduate student organizations are not assigned account
                   numbers through the SAFAC Office. All transactions for graduate only
                   organizations are handled by the Office of Graduate Studies.
 Chapter 2
  Account              71-Rollover Account
Information   This account is where any money student organizations receive from
                  fundraising, collecting dues, and soliciting donations will be deposited.
                    – This account will consist of:
                         • 6-Digit Fund Number: example (710545)
                         • 4-Digit Org Number: example (3526)

                   – You may be requested by different departments for your account
                     number. They are asking for your fund and org combination. Your
                     full printed account number will look like: 710545-3526.

                   – Your fund and org number for your 17-SAFAC and 71-Rollover
                     accounts are different

                   – Unlike the 17-SAFAC Account, the SAFAC rules and restrictions do
                     not apply to this account. Student organizations are eligible to use
                     this money how they wish as long as they are not violating any
                     institutional, city, state, or federal policies and laws.
 Chapter 2
  Account     Off Campus Bank Accounts
Information   Student organizations are ineligible to open an off-campus
              bank account.
              • All money in a student organizations 17-SAFAC or 71-
                 Rollover account belongs to the Drexel University
                 organization and not the individuals running the
                 organization.
              • Inability for institution to monitor funds in accordance to
                 laws and guidelines for non-profit private institutions.
              • Inability to avoid misuse or theft of funds by organization
                 officers
              • Inability for new leadership to gain control of funds from
                 old leadership

                Note: Organizations found to have an off-campus bank
                account may lose access to all funding and possibly have
                their recognition suspended.
Chapter 3 – Purchasing Forms/
            Documentation
This chapter will focus on:
   – Sales Tax Exemption
   – Check Requests
   – Cash Reimbursements
   – Purchase Orders
   – Dropping Off Forms
   – Documentation
  Chapter 3
 Purchasing            Sales Tax Exemption
   Forms/
Documentation   All student organizations registered and recognized through
                   the Office of Campus Activities at Drexel University Main
                   Campus are sales tax exempt and covered by the Drexel
                   University Tax Exemption Certificate on all purchases for
                   organizational event use only.

                   A copy of the Drexel University Tax Exemption Certificate
                   will be given upon request.

                   Drexel University does not reimburse individuals for sales
                   tax. If you choose to pay for merchandise and are
                   charged tax, you will only be reimbursed for the sub-
                   totals and not the total including tax.

                Note: Any student or group of students found to be using Drexel University’s Sales
                   Tax Exemption Certificate for personal use may face disciplinary action
                   through the Office of Student Conduct & Community Standards, lose access to
                   all funding for their organizations, and may have their recognition suspended.
  Chapter 3
 Purchasing                        Forms
   Forms/
Documentation   Drexel University has several different forms which
                are required for different types of purchases and
                reimbursements. We will go into detail on what
                each one is and what information is necessary.

                There are 3 main forms you will need to know as a
                student organization treasurer:

                   – Check Request Form
                   – Cash Reimbursement Form
                   – Purchase Order Form
  Chapter 3
 Purchasing
                Check Request Form
   Forms/
Documentation       There are 3 sections which must be completed
                    before your check request will be accepted:

                    •   Section 1: Payee Information
                         • Payee Name
       1        1        • Address
                         • Drexel ID # or SS#/EIN#


       2            •   Section II: Justification
                         • Detailed Description explaining payment or
       3                     reimbursement

                    •   Section III: Funding Source
                         • Fund #
                         • Org #
                         • Cost Center Title
                         • Amount
  Chapter 3
 Purchasing
                   Check Request Form Cont…
                Check Requests are used to pay for services where credit cards are not accepted.
   Forms/       They are also used to reimburse students for expenses they paid out of pocket with
Documentation   debit card, credit card, check, or cash over $100.00


                Section 1: Payee Information:
                1. Put the name of the person or business to be paid. (This is not the name of the
                   person submitting the request).
                2. Put the Home (for an individual) or Business (for a business) address in the
                   address field where the check is to be mailed.
                3. Put the ID#, SS#, or EIN# as appropriate:
                   a. If the check is going to a Drexel University Faculty Member, Staff Member, or
                        Student the University ID number is required. Do not submit a social security
                        number
                   b. If the check is going to an individual who is not a faculty member, staff
                        member, or student at Drexel University, their social security number is
                        required.
                   c. If the check is going to a business, we require the Employer Identification
                        Number (EIN). This is sometimes referred to as the Tax Identification
                        Number.
                Note: Without the ID#, SS#, or EIN# the check request cannot be processed. It will be returned to
                    your organization as an “Unprocessed Request” which will be explained further in this
                    presentation.
  Chapter 3
 Purchasing
                  Check Request Form Cont…
   Forms/       Section 2: Justification & Delivery:
Documentation   1. Put a very detailed description explaining the payment or
                   reimbursement. Your explanation should answer the following
                   questions:
                   a. What is being paid or reimbursed?
                        a. Include Dates of events, whether it’s partial or full payment, include event name, etc.
                   b. Why is it being paid or reimbursed?
                        a. Include whether it was per signed contract agreement, verbal agreement, etc.

                   Bad Example: “Reimbursement for airfare to conference”
                   Good Example: “Partial Reimbursement to Jane Smith for airfare travel to ‘Student Org Leadership
                      Conference’ hosted by Nationals December 10-13, 2008”
                   Bad Example: “Reimbursements for skating party”
                   Good Example: “Reimbursement for variety of colored paints, sidewalk chalk, and foam brushes to
                      advertise for Ice Skating Party on December 12, 2008”

                   Note: If your justification is too vague, your request may be returned to your organization as
                      Unprocessed for clarification.


                2. Pick-up / US Mail / US Mail with Enclosures:
                   a.    Pick-up: Accounts Payable has phased this option out. If you choose Pick-Up the check will still be
                         mailed through USPS.
                   b.    US Mail: This option is what will be followed unless asked to mail with enclosures.
                   c.    With Enclosures: This option is used when other documents need to be mailed with the check such as
                         registration forms, etc.
  Chapter 3
 Purchasing
                   Check Request Form Cont…
   Forms/       Section III: Funding Source:
Documentation   1. Fund Code - Put the Fund # of your 17 or 71 account number in this
                   field.
                2. Org Code - Put the Org # of your 17 or 71 account number in this field.
                3. Leave Account Code and Activity Code fields blank.
                4. Cost Center Title – Put the name of your student organization in this
                   field
                5. Amount – Put the dollar amount to be covered by this account number

                 You will notice there are four rows. This is because the total cost of an expense
                  can be split between multiple account numbers.
                 Please be sure to put the proper Fund # and Org # combinations. Incorrect
                  combinations will cause your request to be kicked back by Accounts Payable as
                  unprocessed until corrected.

                Example of what this will look like upon completion:
  Chapter 3
 Purchasing
                Cash Reimbursement Form
   Forms/
Documentation         The following information is necessary before your
                      cash reimbursement will be processed:

                          •   Payee Name
                          •   Payee ID #
                          •   Amount
                          •   Fund-Org #
                          •   Receipt Type
                          •   Description
                          •   Organization Name
                          •   Payee Email
                          •   Payee Phone #
  Chapter 3     Cash Reimbursement Form Cont…
 Purchasing
   Forms/
                 Cash Reimbursements are used to reimburse students for expenses they paid out of
Documentation
                 pocket with debit card, credit card, cash under $100.00. NOT TO BE USED FOR
                 ONLINE ORDERS OR TRAVEL REIMBURSEMENTS


                1. Put the name of the Payee and Payee ID
                2. Put the amount to be reimbursed (Not to exceed $100.00 USD)
                3.   Put the Account Number to be charged (Fund # - Org #)
                4.   Check the receipt type: Credit Card, Debit card, Cash,
                5.   Put a very detailed description explaining the reimbursement. In the Purpose field. Your
                     explanation should answer the following questions:
                      a. What is being reimbursed?
                             a. Include Dates of events, whether it’s partial or full payment, include event name,
                                etc.
                      b. Why is it being reimbursed?
                             a. Include whether it was per signed contract agreement, verbal agreement, etc.
                      c. List organization and Payee contact information.

                6.   The student who the reimbursement is for will receive an e-mail from the SAFAC Office
                     informing them the request is ready for pick-up.
                7.   The student will need to sign in the signature field then the Cashier will give the cash to the
                     student after photo ID is presented
  Chapter 3
 Purchasing
                                                     Purchase Order Form
   Forms/
Documentation                                                               The following information is necessary before your
                                                                            Purchase Order will be accepted:

            Vendor to Pay                             Person Submitting         • Vendor Contact Information
                 Vendor                          Phone/Email of Submitter
                                                                                • Contact Information for Person Submitting
                 Address
           Company Contact                                                        Request
                                         Date
           Phone
            Fax                                                                 • Date
                                                            Price/
                                                                                • Qty of Item to Purchase
           Qty         Item Description/ Item #’s
                                                            each
                                                                                • Description of Item
                                                                                • Price per item
                                                                                • Fund/Org to be charged
                                                                                • Student Org Name
                                                                                • Total to charge to Fund/Org

Fund/Org
                   Student Org Name      Total
  Chapter 3
 Purchasing
                     Purchase Order Form Cont…
              Purchase Orders are used to place orders for merchandise and services on
   Forms/
              the Drexel University SAFAC Office credit card.
Documentation

                1.    Put the Name and Address of the company to be paid. (If it is an online company
                      provide the website address in the address field)
                2.    Put the contact phone and fax numbers (as applicable) in the phone and
                     fax fields
                3.    Put the name of the person submitting the request and the student organization
                      name in the Department & Name field.
                4.    Put the e-mail address & phone number of the person submitting the request in
                      the Telephone & Email field.
                5.    Put the Quantity of the merchandise to be purchased in the Qty Field.
                6.    Put the product details in the Product Description Field. (Include item #’s, model
                      #’s, colors, etc.)
                                         7. Put the unit price for the merchandise in the Unit Price Field.
                                   8. Supply a copy of the online check-out screen if it is an online order.



                Note: If you are looking to place an online order on a website that requires a
                   log-in name and password please supply the appropriate information on
                   the request
  Chapter 3
 Purchasing
                            Dropping Off Forms
   Forms/       • All requests must be dropped in the Drop Box located in the
Documentation
                  hallway outside of the SORC entrance.

                • This box will be checked twice each day

                • Each Request received in this box and processed will be scanned
                  and logged.

                Processing Time
                Check Requests – 15 to 21 business days to be received in the mail
                Cash Reimbursements – 2 to 3 business days
                Purchase orders – 2 to 3 business days
  Chapter 3       Timeline to Submit Reimbursements
 Purchasing
   Forms/       Travel Reimbursement (30-day limit)
Documentation
                  In accordance with University policy, any student wishing to be
                    reimbursed for travel, whether it is mileage or receipt based will
                    need to submit their reimbursement within thirty (30) days of
                    returning from the engagement. Failure to submit your travel
                    reimbursement within thirty (30) days of returning may result in
                    the inability for the SAFAC Office to process your reimbursement.

                Non-Travel Reimbursements (60-day limit)
                          Students wishing to receive a reimbursement for non-travel
                   related expenses should submit their reimbursement within sixty
                         (60) days of the date on the receipt. Repeated failure for an
                        organization not submitting reimbursements within sixty (60)
                               days of the receipt date may result in the denial of the
                                                 reimbursement by the SAFAC Office.
  Chapter 3
 Purchasing
                                       Documentation
   Forms/     In order to process any type of payment, purchase order, or reimbursement, a certain
Documentation level of proving documentation is required. This section will detail the types of
              documentation which are necessary.


                  Original Receipts
                      Original receipts are needed for all reimbursements made with credit cards, debit
                      cards, and cash. Without an original receipt you cannot be reimbursed. Copies of
                      receipts are not accepted and you reimbursement will not be processed without
                      the original. If you paid cash the receipt must state that you paid cash.

                      All Receipts must be taped one sided to a sheet of paper.

                      Hand written receipts on online printouts, scrap paper, backs of papers, etc are
                      not acceptable forms of receipts and your request will be returned unprocessed
                      without an original receipt book receipt or register receipt.

                      Receipts which are submitted must be for the individual the reimbursement is
                      being processed for. If the receipt was made by credit card and has a name other
                      than the individual on the check request, the reimbursement will not be
                      processed. If in fact the person on the request did make the purchase then
                      additional documentation such as credit card statements may be required.
                                                                                                         .
  Chapter 3
 Purchasing
                            Documentation cont…
   Forms/       Checks
Documentation
                    If you wish to be reimbursed for expenses which were paid with personal check, a
                    copy of the front and back of the cashed check from your bank is required. This
                    can be an online printout of the check from your bank or a copy of the original
                    returned check from the bank.


                Credit Card Statements
                    Credit card statements are required as proof of purchase for online purchases,
                    hotel purchases, rental vehicle purchases, and any purchase where the
                    identification of the individual on the original receipt does not match the
                    purchaser (this can occur if you use a discount card of a friend or family member).

                Online Printouts
                     If you are seeking a reimbursement made for an online purchase a printout of the
                         online confirmation is required along with a copy of the credit card statement.

                      Registration Forms
                    If you are seeking a reimbursement for paid registration a copy of the completed
                    online registration from is required along with a copy of the credit card statement.
                                                                                                          .
  Chapter 3
 Purchasing
                             Documentation cont…
   Forms/
Documentation      Invoices vs Statements
                       Accounts Payable cannot process payments from statements.
                       Statements are informational sheets which detail outstanding
                       invoices and received payments of an entire account history. In
                       order to process a payment Accounts Payable needs the
                       individual invoice for each bill to be paid.

                             Reference #/
                               Invoice #


         Transaction
            Date




                       There can be a single invoice listed on a statement or multiple
                           invoices listed on a statement (as in the example above).
Chapter 4 – Deposits

This chapter will focus on:
   – Deposit Form
      • Donations (including donation tax letters)
Chapter 4
Deposits
                                         Deposit Form
                    Check                                       Fund              Amt.   Type
             Date           Payer Name     Reason for Deposit          Org #
                      #                                           #




                                         Name of Organization




            For non-donation deposits the following information is required:

               •    Date of Deposit                             • Amount
               •    Check # (if applicable)                     • Type
                                                                • Name of Group
               •    Payer Name
               •    Reason for Deposit
               •    Fund #
               •    Org #
Chapter 4
Deposits
                        Deposit Form cont…
              Deposit forms are used to deposit cash, checks, and money
              orders for collected dues, admission fare, etc.

            1. Put the date the deposit is being dropped off in the Date Field
            2. Put the Check # of each check being deposited. (If you are depositing
               cash then leave this field blank.)
            3. Put the name of the person on the check in the Payer Field. (If you are
               depositing cash then put the word “CASH” in this field.)
            4. Put your Fund # in the “Fund Code” field and your Org # in the “Org
               Code” field. (Do not put anything in the Account Code or Activity Code
               fields.)
            5. Put the amount of the deposit in the “Amount” Field.
            6. In the “Type” field choose option 1 for checks or option 2 for checks.
                     7. Place the name of your organization in the “Notes or Additional
                                                                       Description” field.
              8. Submit the form along with all checks and/or cash to the SAFAC Office
                                                                   in a sealed envelope.
Chapter 4
Deposits
                        Deposit Form cont…
              All checks must be made payable to “Drexel University – Student
              Organization Name”
                    for example: “Drexel University Stamp Club”


            When receiving a donation, you must list “Donation” in the description
            section of the deposit form. In order for your donor to receive a tax
            deduction letter from Drexel University you must supply the following for
            each donor:

                     • Name
                     • Mailing Address
Chapter 5 – Gifts/Prizes/Gift Cards

This chapter will focus on:
   – Purchasing Gifts/ Prizes/ Gift Cards
 Chapter 5
Gifts/Prizes/
                     Gifts/Prizes/Gift Cards
 Gift Cards     Gift Cards and cash prizes are considered taxable income by the
                IRS. This means that any person winning a gift card or cash prize
                from a student organization event may be taxed on the value of
                their cash prize/gift card by Drexel University.

                Non-cash prizes and gifts may be taxed at their value.


                IMPORTANT NOTICE:
                      Student Organizations may NOT purchase gifts,
                 prizes, or gift cards without prior approval from the
                SAFAC Office. Failure to get prior approval will result
                 in the inability of the SAFAC Office to reimburse the
                expense for the gifts, prizes, or gift cards from either
                            the 17-SAFAC or the 71-Rollover account.
Chapter 6 – Travel

This chapter will focus on:
   – Mileage
   – Rental Vehicles
   – Lodging
   – Airfare / Train fare
Chapter 6
 Travel
                                                  Travel
            Student organizations can either be reimbursed for travel or have
               some travel expenses paid for on the university credit card.
            Mileage
               When using a personal vehicle you are not able to be reimbursed gas and tolls by
               receipt but rather by mileage. Mileage is reimbursed at a rate of $0.50/mile.
               Mileage is calculated as such:
                    Roundtrip mileage distance x $0.50/mile = Total Amount
               In some cases, the total mileage may be more than an organization wants to
               reimburse. You can do partial mileage to total the amount of gas/toll receipts.

               Documentation for mileage is not gas/toll receipts but google map printouts
               showing mileage from point A to point B.

               Example:
                     John Doe is told he will be reimbursed gas for driving students to Villanova University for
                    an event. John Doe purchases $15.00 in gas and saves the receipt. John Doe turns in the
                  receipt to the student organization for reimbursement. The student organization does not
                       submit the gas receipt but submits a partial mileage reimbursement with the following
                                                                                                   description:
               “Partial Mileage Reimbursement for driving members to Villanova University for the total of
               $15.00”.
Chapter 6
 Travel
                                  Travel cont…
            Rental Vehicles
              Rental vehicles cannot be purchased with the SAFAC Credit Card. Students must
              pay for rental vehicles out-of-pocket and get reimbursed upon their return.

              To be reimbursed submit the following:
              • Check Request made out to the person who paid for the vehicle
              • The original rental vehicle payment receipt supplied by the company
              • Copy of the credit card statement showing the individual’s name and the
              purchase for the vehicle.

            Lodging
                       Lodging can be paid for on the SAFAC Credit Card or out-of-pocket and be
                    reimbursed. This will depend on the situation for each student organization
                                                                             requesting lodging.

              Lodging can only be paid for with the SAFAC Credit Card if it is being purchased
              from an online booking agency such as Expedia, Hotels.com, Orbitz, Travelocity,
              etc…
              The SAFAC Credit Card cannot be used to purchase lodging directly through
              hotel/motel establishments.
Chapter 6
 Travel
                                     Travel cont…
            Lodging Cont…
              To have lodging placed on the SAFAC Credit Card you must:
              • Submit a Purchase Order
                  –Know what Hotel you wish to stay in and which online booking agency you want to use
                  –Know the date range of the hotel stay
                  –Make a half hour appointment to have your order placed
                  –Upon return from the trip, the hotel folios must be brought to the SAFAC Office.
                  (Failure to do so may result in the inability for your organization to use this process)


              Students who wish to purchase lodging through a particular hotel directly may do so on their
              own credit cards and get reimbursed upon return.

              To get reimbursed you must:
              •     Submit a Check Request made out to the person who paid the hotel bill
              •     Submit the hotel folio as part of back-up documentation
              •     Submit a copy of the credit card statement showing the individuals name and the
                    charge to be reimbursed (black out all other information).
Chapter 6
 Travel
                                      Travel cont…
            Airfare/Train Fare
               Airfare/Train can be paid for on the SAFAC Credit Card or out-of-pocket and be
               reimbursed. This will depend on the situation for each student organization requesting
               airfare.
               To have airfare/Train placed on the SAFAC Credit Card you must:
               • Submit a Purchase Order
                   –Know what airline/train company you are using along with flight/train numbers
                   and times
                   –Know the names of all individuals you are purchasing a ticket for
                   –Make a half hour appointment with the SAFAC Advisor to make the purchase
               Note: Names generally cannot be changed once purchased for airfare/train tickets
               unless insurance is purchased or you go through group sales. Make sure the tickets
               are for the individuals you need them for to avoid additional charges and wasted
               tickets.

                   Students who wish to purchase airfare/train on their own credit cards may do so and
                                                                             get reimbursed upon return.
               To get reimbursed you must:
               • Submit a Check Request made out to the person who paid the airfare/train fare
               • Submit a copy of the e-ticket confirmation (for e-tickets) or ticket stub (for real tickets)
               • Submit a copy of the credit card statement showing the individuals name and the
               charge to be reimbursed (black out all other information).
Chapter 7 – Contracts

This chapter will focus on:
   – Brief overview of contract process. More
     formal contract training will be available on
     the SAFAC Website.
    Chapter 7
    Contracts
                Contracts
                  Contract request forms MUST be
                  submitted no later than 4 weeks prior
                  to the event and they must be
                  completely filled out

                  •   Section 1: Student Organization
1                     Contact Information

2                 •   Section 2: Vendor/Performer
                      Information
                  •
3                 •   Section 3: Payment information

                  •   Section 4: Event Information
4
Chapter 7
Contracts
                                Contracts cont…
            •   Contracts are necessary ANYTIME a student organization is brining an external
                vendor/performer to campus for an event.

            •   Regardless if the vendor/performer is being paid it is necessary that the student
                organization submit a Contract Request Form

            •   All Contract Request Forms MUST be submitted 4 weeks prior to the event

            •   The payment must be coming from the student organization’s 17-SAFAC account
                or 71-Rollover account

            •   The student organization must have enough available funds to process the
                payment

            •   University contract terms state that payment must be received by the vendor no
                later than 45 days after the date of engagement.




            If it is your/your student organizations first time submitting a Contract Request Form it
               is recommended that you schedule a meeting with Casey Sharkey. You can contact
                                   Casey at pcs44@drexel.edu or 215.895.6238
Chapter 8 – Internal Charges

This chapter will focus on:
   – Internal Charges by Drexel departments
Chapter 8
 Internal
                           Internal Charges
 Charges    Internal charges are charges which are applied to your account from
                Drexel University departments such as:
                • Event Services
                • Public Safety
                • Sodexho (34th St. Caterers)
                • Facilities Management
                • Drexel Transportation

               These charges are applied based on services requested directly
               by your organization to these departments. The SAFAC Office is
               not involved with the requesting of these services for your
               groups.
Chapter 8
 Internal
                    Internal Charges cont…
 Charges    Things to Do to Insure Correct Charges:

               • Thoroughly review the confirmations which are sent to your
               organization and contact the appropriate department immediately if
               something is incorrect.
               Note: Waiting until after your event to contact the departments to make
               corrections for mistakes on your confirmations may result in your organization
               having to pay the original confirmed price without the corrections.


               • Check the account number listed on the confirmation for charging.
               It is the responsibility of your organization to make sure that the
               appropriate account number (either your 17-SAFAC or 71-Rollover) is
               being charged.

                  Note: If the charge is being paid for by a department and not your
               organization, the department responsible for the charge is required to place the
               reservation. If the reservation is placed by your organization, YOU WILL BE
               CHARGED, and not the department, even if you give the department’s account
               number
Chapter 9 – Budgeting / Recordkeeping

This chapter will focus on:
   – Budgeting Tools
   – SAFAC Files
   – Copies of Records
   – Web-Finance Access
   – Debts
  Chapter 9
 Budgeting/
                    Budgeting/ Recordkeeping
Recordkeeping      Student organizations are responsible for keeping budgets for their
                   expenses to ensure that debt does not occur.

                Budgeting Tools
                   • Microsoft Excel
                   • Microsoft Access
                   This program offers a large variety of methods on tracking budgets
                   without the expense of programs like Quicken. You can access sample
                   budget tools from these programs on the SAFAC website under
                   “Resources”.

                 SAFAC Office Files
                   As treasurer you are encouraged request your file from the SAFAC Office
                      to compare everything that has been processed with your budget to
                      make sure everything is in order financially. Everything processed by
                   the SAFAC Office will be scanned and kept in an electronic file for each
                   student organization.
  Chapter 9      Budgeting/ Recordkeeping cont…
 Budgeting/
Recordkeeping   Copies of Records
                It is highly recommended that as treasurer, you make a photo copy of
                each request you submit to the SAFAC Office and of each request sent in
                for internal Drexel services.

                Copies of these documents will help to keep your budget on track
                without forgetting about items which were processed by your
                organization.

                Web-Finance
                Web-Finance is a very useful tool but only reports what items have hit your
                accounts. It does not reflect items that were submitted but may not have hit yet.
                This is why it is very important for an organization to
                   maintain a budget record on its own separate from using Web-
                   Finance. Web-Finance is available for student organizations to access directly if
                the Treasurer goes through Web-Finance training.

                Each student organization has a login name for Web-Finance. If you have
                misplaced your log-in please contact safac@drexel.edu to have it resent to you. If
                you need your password reset please contact safac@drexel.edu to request one.
  Chapter 9      Budgeting/ Recordkeeping cont…
 Budgeting/
Recordkeeping   Debt
                Debt occurs when a student organization spends more than is available
                in their accounts.

                There are many reasons this may occur but the most common among
                student organizations is due to lack of record keeping. Many times
                student leaders forget about a purchase they submitted.

                Debt Suspension
                If a student organization goes into debt they are immediately placed on
                debt suspension. The organization will be notified and have 2 weeks to
                review their account details and contest any charges. After 2 weeks the
                organization will remain on permanent suspension until the debt is paid
                    back in full.

                While on debt suspension, an organization cannot utilize Drexel services,
                reserve space, or hold an event under the groups name
Chapter 10 – Funding Options

This chapter will focus on:
   – Annual Allocations
   – Reserve Funding
   – CAP Funding
   – Late Night & Weekend Programming
   – Alumni Grant
Chapter 10                       Funding Options
 Funding
 Options
             Annual Allocations
               Annual Allocations is the process in which student organizations submit a
               fiscal year operational budget by the designated deadline to receive a
               portion of the available Student Activity Fee funds.

               For more information contact SAFAC at safac@drexel.edu



             Reserve Funding
               Reserve funding consists of $25,000 in available SAFAC fees.

                 Only newly formed organizations will be eligible to apply through
                 Reserve Funding throughout the fiscal year.
                 In addition; any student organization which made a national
                 championship is eligible
Chapter 10                 Funding Options cont…
 Funding
 Options     CAP Funding
               The Commission for Activities & Programs supplies some funding towards student
               organization event expenses. The application can be downloaded on the OCA
               website:
               http://www.drexel.edu/studentlife/oca/downloads/CAP_Request_Form.doc

               For more information please contact the Office of Retail Management at 215-895-
               6776.


             Late Night / Weekend Programming
               There will be no Late Night & Weekend Programming for the FY2012 year.
Chapter 10                Funding Options cont…
 Funding
 Options
             Alumni Grant
               The Drexel University Alumni Board of Governors has established a
               Grants Program to provide financial support to recognized student
               organizations. The Board evaluates funding proposals and provides
               financial support for activities hosted by recognized student
               organizations that increase the interaction between students and
               alumni, enhance the student experience, promote tradition, support
               academic excellence, reconnect alumni to the university, create a greater
               awareness of the Alumni Association, and promote the Association as a
               relevant and integral part of the university community.

               For more information and to download the application please visit:
               http://www.drexel.edu/ia/alumrel/grants_scholarships.asp
Chapter 11 – Fiscal Closing

This chapter will focus on:
   – Fiscal Closing Timeline
   – End of Year Report
 Chapter 11                                  Fiscal Closing
Fiscal Closing
                    The Drexel University fiscal year goes from July 1 of one year through June 30 of
                    the next year.
                           Example: Fiscal Year 2012 – July 1, 2011 through June 30, 2012

                    Fiscal closing is the process of closing out university accounts at the end of a fiscal
                    year to prepare them for a new fiscal year. During the months of June student
                    organizations will be unable to access their accounts for reimbursements or
                    purchases.


                 Student Organization Fiscal Closing Timeline: [ FY12 ]
                    May 18, 2012 – Last day to submit any funding transfers requests or Transaction
                    Corrections from one account to another. [This includes co-sponsorship
                    reconciliations and debt reconciliations]

                       May 25, 2012 – Last day to submit any credit card requests to the SAFAC
                       Advisor for processing. Any credit card request submitted after this date will
                       not be processed.

                    June 1, 2012 – Last day to submit any check request/cash reimbursements to the
                    SAFAC Advisor for processing. Any request submitted after this date will not be
                    processed.
 Chapter 11                      Fiscal Closing cont…
Fiscal Closing
                 End of Year Report

                 All student organizations will be required to submit an End of Year Report if they
                 received a SAFAC Allocation for the current fiscal year.

                 This report will include the following:
                 • General Expenses – uniforms, printing, office supplies, promotional materials,
                 etc.
                 • Food – general meetings, conferences, competitions, special events
                 • Transportation – registration, airfare, car rental, mileage, lodging, train fare
                 • Contractual Services – performances, location rentals, catering

                   This information will be complied into a mass end of year report by the SAFAC
                   Office which will be distributed to the student body detailing how student fees
                   were used within each fiscal year.

								
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