Treasurer Training

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Treasurer Training
Fall 2011
Brought to you by the
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Agenda

• Managing your money
• Using Orgsync
• Understanding Your Current Account and Budget
• Spending your money
• Payment Requests
• Tax Exempt Status
• Ways of getting More money
• Fundraising
• Student Budget Committee (SBC Funds)
• Coca Cola (Coke Funds)
• Rules about using your money
• Budgeting
• Cash Handling
• Required Financial Consultations
• Organization Travel

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Using Orgsync

• www.orgsync.com
• Login using your BGSU username and password

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Using Orgsync

• Accessing your budget
• Scroll over Treasury to reveal the Budgets icon

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Understanding Your Budget
SBC funds are allocated to the group at an annual
hearing. During the year groups can apply for
additional money with Spot and Coke funding.
There are a few more restrictions on the use of
SBC funds. These funds are in the account for
the school year and are swept to zero at the end
of the year. In other words spend it or lose it!
Organization funds are raised by your group
through fundraisers, dues and donations. They
stay in your account from year to year unless you
spend them.
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SBC Funds

• Restrictions on use of SBC funds
• If requested items are unclear or too broad, they
  may be declined
• If requested items violate SBC policy, they will
  be declined (funding for awards or travel within
  50 miles).
• Examples

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Org Funds

• Ignore the column headings with regard to Org
  Funds

• The first column represents the amount of
  rollover from last school year.

• The second column represents the current amount
  in your org funds account.

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Status of Payment Requests

• Approved - OCA has approved the payment and has
  sent it to Accounts Payable
• Pending OCA has the request and is awaiting
  approval
• Partial The request is waiting for your
  completion and submission

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Payment Requests

• Select the budget line that you would like to
  request money
• If you are only using org funds you must select
  the org funds balance line
• If you are only using SBC funds you should select
  the line for the event that you are spending
  money
• If you are using org funds and SBC funds you
  should only place the request in the budget line
  for the event that you are spending money
• Click the Request Payment Button

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Payments Using BothOrg Funds and SBC Funds

• Type the full amount of the invoice in the
  requested payment box
• Ignore the red box that appears
• The difference will be taken from your org funds

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Payment Requests

• Name of the event or request

• Select one of the Payment Types
• Credit Card Order
• Dining Services
• Direct Charge (not Dining)
• Student Reimbursement
• Transfer
• Vendor

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Credit Card Order

• Credit Card Orders can be used for purchasing
  items from online stores or reserving hotel rooms

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Dining Services vs. Direct Charge

• Dining Services can only be used when paying
  dining services directly
• Must be done 7 days in advance or the food will
  be cancelled

• Direct Charge (not Dining) should be used for
  on-campus charges that have directly billed your
  account

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Student Reimbursement

• Student Reimbursements can be used to pay back
  BGSU students who have purchased something on
  behalf of the organization
• These payments will be held in the Office of
  Campus Activities for the student to pick up
• This is not to be used to pay students for
  performing a service (they must be paid as a
  vendor)

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Transfer

• Transfers can be used to pay BGSU student
  organizations or departments
• These numbers can be obtained from the
  departments budget secretary

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Vendors

• Vendors are used to pay any person who is not a
  BGSU student or a company that does not accept
  credit cards
• Service providers must be paid this way!

• If the vendor is not already in the drop down
  table, select other and fill in their information

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Vendor Information Form

• Have a new vendor?
• Check with OCA to make sure they are not already
  registered
• New vendors must fill out a vendor form and W9
• Form must be filled out completely
• Can be found on the OCA website
• Bring these forms to the vendor during the event
  so that you do not have to track them down later

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Payment Requests

• The total amount of the payment request should be
  typed in

• A document must be uploaded showing what was
  purchased, where it was purchased, and how much
  the purchase cost
• Examples include
• Receipts
• Invoices
• Contracts

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Payment Requests

• Write a comment if any additional instructions
  need to be provided such as hold for pickup

• Make sure to click submit when the form is
  complete

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Payment Requests

• Must be approved by advisor if amount is over 50
• A request will be emailed to your advisor after a
  financial consultant determines the request is
  complete
• All invoices and contracts must be paid within 30
  days of the performance date

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Tax Exemptions

• YOU WILL NOT BE REIMBURSED FOR STATE TAXES!
• A copy of the Tax Exemption Certificate can be
  found on the OCA website
• 2) Bring certificate to the vendor at the time
  of the transaction.
• 3) Some vendors will collect the certificate
  some will simply want to see it and allow you to
  keep it.
• 4) We are able to reimburse/pay for eat-in and
  hotel taxes.

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Fundraising

• BG-1 Card
• Card readers available for checkout
• Accepts both credit/debit and BG-1 cards
• E-Store
• Website that allows organizations to sell goods
  and services
• All funds will be directly transferred to the
  organizations account

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Student Budget Committee (SBC) Funding

• Annual Funding Hearings
• Occur in February
• Apply for year-long SBC allocation
• Spot Funding Hearings
• Apply for funding for a specific event or need of
  the organization
• Hearings occur monthly starting in September
• Spot Funding, Coke Funding, and budget
  modifications are all reviewed at this hearing
• If your organization is awarded SBC money and it
  is discovered that you have an off-campus
  account, all money will be FORFEITED.

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Spot Funding Budget Modifications

• Spot Funding
• Used to get money
• Limit of 1,000 per hearing
• Provide specific line items for requested funding
• Budget Modifications
• Allows you to what your money can be
  spent on
• If less than 50 and moving to an existing line
  item you can submit the form to your financial
  consultant
• If more than 50 or creating a new line item you
  must have it approved at a monthly SBC hearing

new
change
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Coca-Cola Marketing Funds Product

• REQUIREMENTS
• The event must be on or near campus.
• The event should be open to the general student
  population.
• No organization may receive more than 2,000 in
  funds or 1,000 in product during the academic
  year.
• Coca-Cola funds must not be the sole source of
  funding for an event.
• Coca-Cola must appear as a recognized sponsor on
  all promotional materials for the event.
  Coca-Cola banners are available in the Office of
  Campus Activities.

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Applying for Coke Funding/Product

• Complete a Coca-Cola Marketing Funds Product
  Request Form.
• Turn the form in to the Office of Campus
  Activities.
• The request will be reviewed by SBC at their next
  hearing.
• The Office of Campus Activities will notify your
  organization of their decision.

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Budgeting

• Identify all expenses for the academic year (July
  1st to June 30th)
• Review transactions and budgets from prior years
• Talk to the people planning the events
• Get estimates from service providers / vendors
• Identify possible revenues
• Membership dues
• Fundraisers
• Cover Charges
• Decide which type of funding you will use for
  which activities
• Prioritize events and needs

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Budgeting

• Calculate projected year-end balance
• Revenues minus expenses
• The total should not be negative
• Regularly adjust the budget throughout the year
• May think of ways to increase revenues and/or
  decrease expenses
• Update your budget to include how much was
  actually spent or collected
• An updated annual budget is required when
  requesting additional SBC funds

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Sample Budget
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Handling Cash

• Cash Handling Tips
• For events where admission is charged, record
  counts of attendees and the amount of money
  received.
• Have two members count, confirm and sign off on
  the total amount.
• Deposit all cash and checks into your
  organizations account at the Bursars Office.
• Pay all expenses from the money deposited into
  your University account.

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Depositing Funds

• Funds can be deposited at the Bursars Office
  from 8am-5pm, Mon-Fri
• If you need to deposit money outside these hours,
  you can deposit the money at the Information
  Center in the Student Union across from Wendys.
  
• If you try to deposit your money at the Info
  Center while the Bursar office is open, you will
  be directed to take your deposit there.

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Service Providers

• ALL service providers must be paid on a
  University check for tax purposes
• ALL service providers must be registered as a
  vendor so make sure to give them the necessary
  forms
• Do not pay them out of pocket because you will
  not be able to receive reimbursement
• Service providers include
• Disc Jockeys
• Speakers
• Judges

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Financial Consultations

• You will meet with your Financial Consultant once
  a month
• Meetings provide an opportunity to reconcile your
  University account, ask questions, and learn
  about funding options
• Meetings help to ensure funds are being used
  appropriately
• Financial Consultation Evaluation
• Completed after each monthly meeting to track
  your organizations financial management success
  and identify areas for improvement
• The score you receive will affect future SBC
  funding
• Your first monthly consultation needs to be in
  September!

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Travel Registration

• When traveling, you represent the University
• Travel registration is required for all trips
  outside the city limits of Bowling Green
• All forms must be submitted 2 weeks in advance
  for review
• Travel Registration needs to be completed and
  approved before any related bills can be paid by
  OCA!

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Getting Started!

• Review the Student Organization Treasurers
  Manual.
• Meet with your organizations advisor and other
  leadership
• Understand the current financial situation of
  your organization
• How much money do you have?
• What events are you currently planning?
• Do you have the funds to support these events?
• Do you have an up-to-date budget?
• What fundraising events do you have planned?
• Are you eligible to receive SBC funding?

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Getting Started!

• Have a transition meeting with the previous
  treasurer
• Ask Questions!
• Create/update your year-long budget
• Schedule a September meeting with your financial
  consultant by calling the OCA

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Forms, Policies, and Information

• www.bgsu.edu/getinvolved

• Organization Resources
• Financial Management

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Contact Info

• OCA - 419-372-2343
• Kunlun Chen
• kchen_at_bgsu.edu
• Jason Schroeder
• jwschro_at_bgsu.edu
• Jordan Poppe
• poppej_at_bgsu.edu