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Student Organization Finance Seminar Accounting Made Easy September 13, 2013 Kristin Luecke Rebecca Birkner • Student Organizations with University Accounts • Student Organizations applying for Activity Fee Money Organizations can apply for funding through the Student Activity Finance Board Any RSO can apply for funding Fall Deadline: September 12, 2014 http://studentlife.mst.edu/organizations/studentactivityfeefunding/ The External Funding Committee (EFC) Student Activity Finance Board (SAFB) directs and controls student fees. SAFB allocates the funding that RSOs apply for and recommend how organizations spend the funding. Bi-Annually Annually • Club Appropriations • Professional Projects • Campus Events • Non-Varsity Sports • You must have the money before you spend it • You must communicate with Student Life before you spend it • University Money • University Property • File application – Student Life Website • Schedule interview with SAFB Chair/Director • SAFB makes recommendations • Recommendations presented to Student Council Executive Board • Recommendations presented to the Student Council General Body • Student Council Body Appropriates Funds • Funding available to be spent 48 hours after • Requirements to apply – Already a Recognized Student Organization – Student Council Representative • Application Deadline: The Friday following the Officer Summit, September 12 at 4:00 p.m • Late Applications will not be accepted! • Any expense judged to be the responsibility of a University department or of individual members of the organization including but not limited to conventions, trips, food, and refreshments for regular meetings • Deficits incurred by the organization • Any expenses incurred prior to the approval of funding • • • • Items for a specific individual Items for resale Fundraisers Gifts or additional compensation for visiting Speakers • The purchase of alcohol • Off-campus activities if adequate facilities are available on campus • Any requests for computer software, computers, or components thereof • Requirements to apply – Already a Recognized Student Organization – Not Funded as a Professional Project – Not Funded as a Non-Varsity Sport – Not Funded by Direct Student Funding – Must be a RECURRING (Annual) Event • Applications deadline the Friday after Officer Summit, September 12 at 4:00 p.m. • Late Applications will not be accepted! • SAFB will fund a maximum of 70% of the event – Do NOT assume you will get funding just because you apply, the fund always runs out of money – It is your responsibility to follow-up on your application if you do not hear anything from the board regarding an interview • Do NOT use the fund as a crutch – Each event should become more self-sufficient with every recurrence • Any expense judged to be the responsibility of a University department or of individual members of the organization including but not limited to conventions, trips, food and refreshments for regular meetings • Deficits incurred by the organization • Any expenses incurred prior to the approval of funding • • • • Items for a specific individual Items for resale Fundraisers Gifts or additional compensation for visiting Speakers • The purchase of alcohol • Off-campus activities if adequate facilities are available on campus • Any requests for computer software, computers, or components thereof • Applications accepted at anytime • Application Process – Write a letter to SAFB stating why the funding is needed – Include a Current year budget – Include any budgets/applications for external or direct student funding – Turn in the above items to the current SAFB Chair Kristin Luecke([email protected]) • Items requested must: – Cost more than $5000 • Exceptions must be approved through SAFB before application is considered – Last a MINIMUM of 10 years – Be a proven NEED not a want – Required to have a minimum of 2 quotes for items • Don’t try to spend money you don’t have • Don’t try to transfer money from a campus account off-campus • Don’t purchase alcohol or gift cards • Don’t charge at businesses without a purchase authorization • Don’t Inflate the Budget – Other organizations could use the money you waste • Don’t ask for speaker funding – Unless you check to see if campus can get the speaker for free • Don’t ask money for Flyers – Student Council will print them for FREE! General Information For Student Organizations • Paying for campus services • Awards/Scholarships/Prizes • Contracts/Performance Agreements • Insurance • Purchasing • • • • • Equipment Reimbursements Travel Income Deposits Purchasing Cards Rental Catering Agreements/Contracts Taxes • • • • Include Your Advisor Planning Goal Setting Budgeting Department of Student Life 218 Havener Center 573.341.6771 [email protected] http://studentlife.mst.edu/ Kristin Luecke, SAFB Chair [email protected] Caitlyn Schottel, EFC Chair [email protected] Rebecca Birkner, RSO Accounts [email protected] Tina Reagan, Student Services Advisor [email protected]