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Authorized Signer Training
Fall 2013
Understand Authorized Signer Responsibilities Where does your money come from? Understanding Your Accounts How to Spend Your Money and Make Deposits
◦ Goods vs Service◦ Types of Payments & Documentation Needed◦ Travel◦ JFC Capital Purchases◦ Deposits
Understanding your Bridge Finance page
Session Goals
1-2 authorized signers per organization Authorized signer status is valid for one academic year
(Fall & Spring) All financial transactions must be signed-off by the
authorized signer Primary point of contact with Student Activities and SBVPF Understand JFC and other special allocation processes Educate other organization members on financial
processes and expectations Maintain a detailed record of all expenditures and income Review Bridge Finance page monthly Transition information to next authorized signer
Authorized Signer Responsibilities
All Authorized Signers must take and pass quiz to become official Auth. Signer
Passing score is 90% May take the quiz to exempt training if
served as an Authorized Signer in the previous year
Quiz is through blackboard and all attendees have been added to the “class” on BB when enrolled in training
Authorized Signer Quiz
Where does your money come from?
Carefully review allocation amounts and line items
Review what was not funded & what needs to be brought in to fully fund planned events
Read JFC comments in BudgetTracker https://stugov.andrew.cmu.edu/budgettracker
Understand expectations for revenue and fundraising from JFC
Understanding Your JFC Budget
Helpful to review prior fiscal year’s budgets, expenses, and income
Schedule a meeting with SBVPF if organization is going on or coming off of probation
Maintain your own detailed records of expenses and income for tracking purposes and preparation of next JFC budget request
JFC accounts roll up to JFC at fiscal close
Understanding Your JFC Budget
Receive funding from other sources Similar processes and expectations on spending
Accounts do not “close” meaning all surplus and debt roll forward
SBVPF and SBVPO will be in contact with groups ending in debt
Non-JFC Funded Organizations
Appropriate request for a special allocation◦ Unanticipated costs◦ New programs and initiatives
SOURCES◦ Student Senate◦ GSA◦ DOSA Funding◦ SDC◦ Academic Departments
**Common Funding Application available on The Bridge**
Special Allocation Funding
Student Senate◦ Weekly finance committee meetings◦ Organization rep must present proposal to Senate Finance
Committee◦ Will receive committee recommendation within 48 hours of
finance meeting◦ Committee recommendations must be voted upon by general
body for approval◦ If org is JFC funded, then requests should be for unexpected
costs or new initiatives, only. JFC share same pool of money with Student Senate.
Student Senate Contacts & Resources◦ [email protected]◦ www.cmu.edu/senate
Special Allocation Process
Graduate Student Assembly (GSA)◦ Monthly finance meetings (typically 1 week prior
to GSA general body meeting)◦ Organization rep can discuss proposal◦ Finance committee recommendations typically
upheld by GSA general body◦ Recommendation can be appealed by any GSA
member or requesting organization member GSA Finance Contacts & Resources
◦ [email protected]◦ https://www.cmu.edu/gsa/
Graduate Student Assembly Special Allocations Process
DOSA funds organization initiatives through a central process
Bi-monthly committee meeting For information on dates and to access to
common application form: http://www.studentaffairs.cmu.edu/StudentActivities/info/funding/dosa.html
Division of Student Affairs (DOSA) Funding Process
Tips for success◦Organization should contribute a portion
of funding (fundraising, budget)◦Donation vs. operational costs◦Domestic travel can be supported◦International travel only supported
through STO-IT fund in Office of International Education http://www.cmu.edu/oie/sab/gettingstarted/stoit.html
DOSA Funding Considerations
Account Information
Two accounts per organization◦ Org Account:
general account for day-to-day expenses, JFC allocation lives here◦ Gift Account:
all donation monies deposited here if money can be tied to a specific person or company, gift account money CANNOT be transferred to your org account
Not a “savings account” Money needs to be tied to an individual or entity
If Cash, must include amount donated, donor name and address If Check, verify name and address are included on check Donor can’t receive anything in exchange (admission fees, payments
for goods/services)
** Only student government recognized student organizations are permitted to have financial accounts through the Office of Student Activities**
Student Activities Accounts
Administrative fee charged to certain type of revenue (e.g. donations)
Currently 5% and increasing to 9.6% by FY14
Accounts will initially be assessed the fee to ensure consistency in university practice
Will see credits for these admin charges each quarter, however
Fee only assessed to gift accounts not to organization accounts
Administration Fee – Gift Accnts
Accounts are not bank accounts Housed in university and subject to
university financial policies and procedures Mishandling of funds impacts student org
account, Student Affairs and the university Accounts can be and are audited and thus
compliance is necessary
Student Activities Accounts
Member writes $75 check for membership dues; Deposit into which account?
Deposit into Org
Which Account?
Organization Alum makes general donation of $200 to Scotch ‘n’ Soda; ; Deposit into which account?
Deposit into Gift, spend from Gift on whatever
Anonymous cash donations of $400 collected at door of event; Deposit into which account?
Deposit into Org, spend from Org on whatever
Organization collects fundraising sales of $350; Deposit into which account?
Deposit into Org, spend from Org on whatever
Which Account?
Organization Alum makes donation of $1,000 to AB Tech for purchase of new sound system; Deposit into which account?
Deposit into Gift, spend from Gift on sound system only
Chrysler sends a $10,000 check to cmuTV for BuggyCase by case in terms of sponsorship donations
How to Spend/Deposit Your
Money
Goods=physical/tangible items(s)
Services=someone providing skills, support, or labor (i.e. Equipment rental, facility rental, DJ, recording studio)
Goods vs Services
Printing/Publishing◦ If vendor is doing design work = SERVICE◦ If vendor using your design and only printing = GOOD but
will ALWAYS need a proof of design
Food/Catering◦ Vendor provides set up, serving, clean up, etc = SERVICE
and needs a contract◦ Food is delivered/picked up, nothing else = GOOD◦ ALWAYS need itemized and credit card receipt◦ ALWAYS need to know # of people attending event
Goods vs ServicesCommon purchases that could be either/or
Is it a Good or a Service?
T-shirt printing of your design
Good, but may require a proof of design
Hiring a DJ for organization event
Service, requires a contract
Common Plea catered dinner
Service, requires a contract
Is it a Good or a Service?Guest Lecturer
Service, requires a contract
Stage set-up by Taylor Rental
Service, requires a contract (MSA on file)
Pizza Perfecta delivering pizza’s to campus
Good
Is it a Good or a Service?And what documentation is required?
Student photographer for DS show
Service, requires a contract AND Independent Contractor Checklist
Equipment Rental for event on campus
Service, requires a contract (*Best to use vendor with MSA on file; check Procurement’s website)
Paying umpires or officials for sporting event
Service, requires a contract
Payment Request (Purchase Order; cuts a check to vendor)
Pcard (formerly “Tartan credit card”)
On-Campus Purchase form (on-campus vendor purchases)
JE transfer (electronic transfer of money between 2 on campus accounts)
Expense Reimbursement (out of pocket purchases)
Important Note: Any purchase ≥ $5,000 must be paid via Payment request and include a Purchasing Checklist & Bid Summary FormSee Student Activities for details
Ways to Pay for Goods
Payment Request (PO, cuts a check to vendor)
JE transfer (electronic transfer of money between 2 on campus accounts)
On-Campus Purchase form (on-campus vendors)
Pcard (if less than $2500 and contract is included with receipt)
Payroll (If current CMU employee; Independent Contractor Checklist, Student Staff Info Sheet)
CANNOT reimburse for services
Contract required for all purchases of any kind of service (unless campus vendor)
Ways to Pay for Services
Required for any service Work with Student Activities
◦ Need 4-6 week lead time◦ Need the following leg work: who, when, where, how much,
organization’s expectations of service provider, service provider’s needs, etc.
Must be fully executed (signed by both parties) before payment will be issued
https://www.cmu.edu/contracts/MLA/index.html (list of Master Service Agreements)
Ex: DJ, Legal Services, Instructors, Coaches, Guest Lecturer, Patent & Copyright Fees
EMAIL: [email protected]
Contracts
Initiate a Purchase Order (PO)◦ Promise of payment, which will be given once goods or
services are received◦ To make prepayment arrangements◦ Provide a quote or invoice with Payment Req form
Use to cut a check◦ Once goods or services are received, if using a PO,
provide an invoice with form Payment Terms
◦ 30 days from date of invoice
*Note: Plan for your quarterly/annual costs ahead of time; submit form at least 30 days prior to due date (i.e. dues, tournament fees)
Payment Request
Identify if your business or individual is in the Oracle supplier database◦ Email or stop by the Office of Student Activities
Vendor must be in Oracle supplier database prior to PO being created, payment sent via check
Preferred supplier list: best prices & maybe no contract!
https://www.cmu.edu//finance/procurementservices/supplier-directory/supplier-directory.html
Suppliers (Vendor/Business)
If vendor is not already in supplier database, student org must work with vendor to get supplier forms completed and sent to Accounts Payable for entry into supplier database:
Business (using an EIN-employer identification number)◦ W-9◦ Supplier Form
Individual (using a SSN-social security number)◦ W-9◦ Supplier Form◦ Independent Contractor Checklist
Supplier Database Entry
Paym
en
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eq
uest
Form
On-Campus purchase and JE forms
Must make a Pcard purchasing appointment at least 1 business day in advance Email [email protected] or visit Student Activities
Must come prepared with order information Authorized signers must ensure that all
purchases receive PA sales tax exemption Receipts must be submitted to the card holder
no later than 1 business day after purchase Restricted Purchases (services, equipment,
furniture and software over $2499)
Pcard Purchases
Form & receipts submitted within 30 days of purchase
Receipts need to be itemized and show proof of payment (order confirmation by itself is not acceptable)
Loose receipts must be taped to scrap paper (taped on all sides) and attached to Expense Reimbursement Request form with a paper clip
Must include detailed business justifications ◦ 5 W’s of info: Who, What, Where, When and Why (i.e. “1 Pizza
purchased for meeting on 9/1/13 at UC306 to discuss upcoming Dance Marathon event logistics”)
Over 90 days reimbursement is taxed by IRS Cannot reimburse for services
Reimbursements
We strongly encourage students to sign up for Direct deposit for reimbursement payments To sign up, visit Student Activities and ask for the EFT form
This is a different form from the direct deposit for paychecks through Payroll
Great option for students who tend to do frequent purchasing on behalf of the organization
AP does electronic payments more often then paper check payments
Only bank information needed ; voided check is no longer required
Reimbursements – Direct Deposit
Req
uest
for
Reim
bu
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WHO – What student organization was the purchase for? Who is paying for the purchase? How many people attended? ◦ Example: 25 members of AB Tech◦ If less than 6 people for food purchase, must include first and last name of each attendee
WHAT – Details of type of event that purchase is for. ◦ Example: Working dinner /5 pizzas ordered from Pizza Perfecta for set-
up crew working Fall concert
WHERE – Location of event/meeting◦ Example: UC gym
WHEN – Date and time of event/meeting◦ Example: Sat, 11/10/12 from 1pm-6pm
WHY – What is the purpose of the event/meeting? Why was the purchase necessary?◦ Example: To provide dinner to crew members who were working all
afternoon to set up technical equipment in preparation for the Fall 2012 Concert
Business Justifications – the 5 W’s
ADDITIONAL FORMS REQUIRED FOR GIFTS /AWARDS/PRIZES
◦ Prizes/Gifts/Awards worth ≥ $75: prize/gift form & W-9 to be completed by recipient
◦ Gift Cards (any amount): prize/gift form & W-9 to be completed by recipient
Since the recipient is completing the forms, it is best to have these forms available at your event.
◦ Prizes/Gifts/Awards that are donated: nothing needed◦ Prizes/Gifts/Awards worth < $75: No forms needed, however, you
should put individuals name on reimbursement or PCard purchases.
Gift/Prize/Award
Schedule an appointment with Tiffany to book hotel rooms at least 7-10 business days prior to trip to book hotel rooms, airline tickets, rent vehicles
Will be charged directly to your oracle string Plan several weeks in advance Utilize preferred suppliers
Contact: Tiffany Priester [email protected]
Travel
Travel – Hotel reservations Will be using Tiffany’s PCard (state tax exempt
in most states) Organization should contact hotel directly for
rates (3rd party vendors not permitted – hotels.com)
Request credit card authorization form from hotel since Tiffany’s credit card will not be with you upon check-in
Receipts (credit card/itemized) must be submitted within 1 business day after returning to campus, after your trip
Failure to submit receipt within this time frame could result in loss of PCard privileges
AVIS will rent cars to drivers 18 years and older; Enterprise only rents to drivers over the age of 21
All student DRIVERS must visit the Office of Student Activities to complete a driver form, and get drivers license photocopied for Risk Mgmt
All student DRIVERS must visit the Controllers Office website prior to their trip to read the terms of CMU Insurance for rental vehicles; print CMU Insurance card from website http://www.cmu.edu/finance/controller/bte/rental-vehicles-ins-info.html
Receipts (credit card/itemized) must be submitted within 1 business day after returning to campus, after your trip
Failure to submit receipt within this time frame could result in loss of Pcard privileges
**Only LOCAL car rentals permitted on the Pcard. All other car rentals must be paid using your own funds and submitting request for reimbursement after the trip**
Travel – Rental cars
Schedule appt with Tiffany at least 7-10 business days prior to trip, to finalize payment using Oracle string
Contact preferred travel agent to get airline rates and flight options
Best to contact travel agency the day before or day of your scheduled meeting to ensure the most up to date rates
If rate is no longer current then travel cannot be booked at that time
NOT permitted to use online booking agent (Expedia, Orbitz, etc)
Travel – Air Travel
You must use one of the preferred vendors listed on the Office of Student Activities travel page
Call one of the preferred vendors to get quotes Complete & submit Payment Request Form,
attaching quote from preferred vendor Tiffany will create a PO (Purchase Order) to have AP cut a check and send to vendor for payment
http://www.studentaffairs.cmu.edu/StudentActivities/info/travel/index.html
Travel – Bus Rentals
During JFC Allocations Process, some groups were allocated funds from the JFC capital fund for specific pre-approved Capital Purchases.
Money for these purchases is NOT in your org account, and can only be accessed by contacting Jalen Poteat, SBVPF.
Budget Tracker indicates if your group was allocated capital money. Check it!
JFC Capital Purchases
Step 1: Figure out the vendor, price, and method of payment for the pre-approved capital purchase (as found on BT).
Step 2: Get in contact with the SBVPF with the above information.
Step 3: Complete the purchase after receiving the SBVPF’s approval.
Capital Purchase Procedure
Detailed process for accessing funds is available online, or by contacting the SBVPF.
If the organization wants to purchase different capital items than the ones that were pre-approved, you must send that request to the SBVPF for JFC approval.
All capital purchase questions should be directed to [email protected].
Capital Purchase FAQ
Request a cash box and starter cash at least 2 business days prior to day of sales◦ Cash Box request form available on The Bridge
Authorized Signer must request cash box and educate any member assigned to pick up cash box on cash handling procedures
Return cash box next business day
Ticket Sales & Fundraising
All monies collected from tickets sales/fundraising proceeds must be deposited in deposit envelope (with detailed information provided)
If conducting multi-day ticket sales, deposit proceeds nightly, hold on to starter cash
Proper cash handling procedures dictate that money should NOT be spent directly from cash box as does not accurately reflect income and expenses
Ticket Sales & Fundraising
Starter cash should be deposited separately from proceeds and marked as such on the deposit envelope
Indicate on the deposit envelope what type of deposit it is ◦ Dues, donations, sales, rental fee, etc.◦Please use separate envelope for all donations
◦Clearly mark what account money needs to go into
Deposits
CASH: Organize bills into like denominations grouped together and facing the same direction Coins must be wrapped if enough to fill wrapper Loose coins must be put in small coin envelope Visit office of Student Activities for envelopes/wrappers
RECOUNT deposit at least twice before submitting, to ensure accurate totals are marked on deposit envelope
Any deposit envelopes received without all accurate/detailed information on envelope, and/or cash not organized correctly, will be returned to the organization and will NOT be deposited into your account
Deposits
Deposit Envelope
Detailed description means your business justification (who, what, when, where and why).
2013-2014
Set up a meeting with organization event planners to review total expenses and income
Complete any remaining forms Collect prize and gift forms, if applicable Create internal org file with copies of all
receipts and forms Give appropriate documentation to funding
sources if needed (DOSA Funding Committee) Update your internal records
What to do after you spend your money or make a deposit
Your account information will now be imported to The Bridge from Oracle once a month
Must still double check The Bridge transactions against your own records as lag is common
Contact Student Activities Financial Staff for questions/concerns about your account balance and transactions listed on The Bridge
The Bridge & Monthly Reports
Office of Student [email protected] www.cmu.edu/studentactivitiesUC Suite 103412.268.8704
Rita Ciccariello, Senior Financial [email protected] Priester, Financial [email protected]
Jalen Poteat,Student Body Vice President for [email protected]
Questions?
