Financial Officer Training

1
Financial Officer Training

• Office of Student Activities
• StudentActivities_at_jhu.edu
• www.jhu.edu/StudentActivities
• 410-516-4873

2
Points to be Covered

• Office of Student Activities
• Financial Officers
• Paying a Vendor
• Independent Contractors
• Paying an Independent Contractor

• Reimbursing a Group Member
• Transferring Funds
• Depositing Money
• Copy Cards
• Tax Exemption
• Group Registration
• SAC
• Helpful Tips

3
Office of Student Activities

• Located in Mattin, Room 131
• (aka building with the blue couches)
• Open Monday-Thursday 830AM-1200AM
• Open Friday-Saturday 1000AM-1000PM
• Open Sunday 1200PM-1200AM
• Phone [phone]
• Web Page www.jhu.edu/StudentActivities
• Email StudentActivities_at_jhu.edu

4
Office of Student Activities
Jolle Davis Budget Assistant
Jason Heiserman Director
Waqiba Strother Financial Coordinator
Jillian Rickerd Admin Asst.
5
Financial Officers

• Treasurer
• 2nd Financial Officer- Can be the President or
  another responsible group member.
• Only financial officers may initiate requests for
  their organizations.

6
Paying a Vendor

• Attach an original itemized invoice/ contract to
  a Financial Transaction Request Form.
• Please make sure it says Invoice or Contract, and
  not quote or estimate.

• Make sure all contracts are reviewed and signed
  by Jason Heiserman.

7
(No Transcript)
8
Independent Contractors (ICs)

• An Independent Contractor is (usually) any
  person or persons that are not associated with a
  company or organization, and they do not have a
  Tax ID , and because of this they have to report
  their income differently than most other
  businesses. ICs can be anything ranging from a
  model or a DJ to a Guest Director or Dance
  Instructor.

9
Paying an Independent Contractor

• Attach an original contract to a Financial
  Transaction Request Form.
• Turn in all three forms, along with the contract
  and a W-9 tax form from the IC.

10
(No Transcript)
11
(No Transcript)
12
Paying an Independent Contractor, Cont.

• PLEASE ALLOW 2 WEEKS ON ALL INDEPENDENT
  CONTRACTORS! Remember this when planning events
  that will require ICs, as you may have to plan
  ahead and submit paperwork well ahead of an event.

13
Reimbursing a Group Member

• Attach original receipts to a Financial
  Transaction Request Form.
• Receipts under 100 will be given as Petty Cash.
  Voucher taken to Cash Accounting (Garland Hall).
• Receipts over 100 will be sent as a check.
• Alcohol may NOT be reimbursed.
• Sales tax cannot be reimbursed for the state of
  Maryland.
• Students can be reimbursed for less than is on
  receipt, but not for more.
• Non JHU Students may not be reimbursed.

14
Reimbursements, Cont.

• If reimbursing for travel, please save ALL
  receipts, and turn in receipts in an orderly
  fashion with an itemized list.
• Reimbursement checks can never be issued before
  travel has occurred.
• The requesting Financial Officer and
  authorization signature cannot be the same as the
  Payee Name.

15
(No Transcript)
16
Transferring Funds

• Transferring funds occurs when a student group
  wants to transfer their funds from their account
  to another group, or to another Johns Hopkins
  entity. This can also work in reverse when
  receiving funds from departments or other groups.
• Complete a Funding Transfer Request Form.

17
Office of Student Activities Funding Transfer
Request Form Please return completed forms to
Student Activities, Suite 131 in Mattin
Center. Part I Student Group financial officer
or JHU Department budget administrator of account
to be CHARGED completes the section below.
As a financial officer/budget administrator for
this account, I authorize the following transfer
of funds.
Part II Student Group financial officer or JHU
Department budget administrator of account to be
CREDITED completes the section below. As a
financial officer/budget administrator for this
account, I authorize the following transfer of
funds.
18
Depositing Money

• Attach original checks to a filled out Deposit
  Transmittal Form.
• Write student group account on back of check.
• Make copies of checks that you turn in.
• Turn in with an itemized list of all separate
  checks.
• Money and checks mostly come from dues, ticket
  sales, and donations.
• Do not hold money overnight. Deposit or turn in
  as soon as possible.

19
Office of Student Activities Deposit Transmittal
Form Date_____February 12, 2009_____________ Budg
et Number______80012345_________________ Direc
tions Fill out all areas (except Office Use
Only Section). If you need more room, simply
attach another form.
20
Copy Cards

• If you need to make copies, you can use the copy
  machine in the Student Activities area in the
  Ross Jones building.
• Only the President or Treasurer can purchase copy
  cards.
• To purchase copy card please go to Mattin Suite
  131, and ask for a copy card at the front desk.
  KNOW YOUR BUDGET before you go.

21
Tax Exempt Status

• JHU is a tax exempt entity. We can NOT reimburse
  for Maryland sales tax for in-store purchases
  (i.e. receipts). Before you go shopping, obtain
  a Maryland tax exempt card from Student
  Activities.

22
Group Registration

• Make sure that your organization is registered
  with the Office of Student Activities!
• http//jhu.mystudentgroups.com
• Groups that are not registered
• cannot process transactions.
• Just because you have an account, does not mean
  that you have money in it.

23
(No Transcript)
24
S.A.C.

• Student Activities Commission is the funding
  board for Student Council.
• Meetings are Thursdays at 600 p.m. in
• Mattin 121.
• General Assembly meetings are the first Monday of
  each month.
• Budget proposals can now be submitted online at
  http//jhu.mystudentgroups.com

25
Helpful Tips

• Submit requests with as much notice as possible.
• Know your budget number and your balance! Keep a
  running ledger of your groups financial
  activity. You are ultimately responsible for
  keeping track of your budget.
• Limit the amount of group members who can
  complete financial transactions. One or two is
  best.
• Make copies of your transactions!

26
Helpful Tips, cont.

• You should rarely have to spend your own money if
  you take care of things in a timely manner.
• Try to use Companies that have Tax ID s and can
  provide contracts, invoices, and a filled out W9
  form.
• Never request an invoice/contract before your
  room is reserved and event is finalized.
• Copies of all forms are available in our office
  and on our website.

27
Good luck and may the force be with you

• Dont get overwhelmed. It can be tedious, but
  dont be afraid to ask questions if youre not
  sure of something.
• Remember to keep detailed records and copy
  EVERYTHING. This is not only your money, but
  your entire groups money. Treat it as you would
  want somebody to treat your personal checking
  account.