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student involvement STUDENT ORGANIZATION FINANCIAL FUNDAMENTALS Gregg Jablonski Asst. Director – NE Unions Manager of Student Organization Financial Services (SOFS)

STUDENT ORGANIZATION FINANCIAL FUNDAMENTALS

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STUDENT ORGANIZATION FINANCIAL FUNDAMENTALS. Gregg Jablonski Asst. Director – NE Unions Manager of Student Organization Financial Services (SOFS). YOUR ORGANIZATION IS HAVING A: DANCE, RODEO, CARNIVAL, CONCERT, BANQUET, PARTY, SPEAKER. - PowerPoint PPT Presentation

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STUDENT ORGANIZATION FINANCIAL FUNDAMENTALSGregg JablonskiAsst. Director NE UnionsManager of Student Organization Financial Services (SOFS)student involvement1YOUR ORGANIZATION IS HAVING A: DANCE, RODEO, CARNIVAL, CONCERT, BANQUET, PARTY, SPEAKER

student involvement2Go to STUDENT INVOLVEMENT For Event Planning Registration (EPR)

ROOM 200 NEBRASKA UNION 472-2454ROOM 300 EAST CAMPUS UNION 472-1780student involvement3DO YOU..Have a friend DJ free of chargeMust get zero-dollar contract

Hire Jims DJ Service for $750Must sign a contract and get a W-9 for 1099 Tax Purposes

student involvement4FLYERSGet cost object number from SOFS to be charged internallyMake copies at UNL COPY CENTER Guidelines on where flyers (table tents) can be distributed from STUDENT INVOLVEMENTNebraska Union

student involvement5ADVERTISINGDaily Nebraskan Ads can be billed internallyJust need your SOFS 4-digit number

Contact DAILY NEBRASKANRoom 20 Nebraska Union 472-2588student involvement6POSTAGEBulk Mailing Need SOFS Zip Code 0455

Contact MAIL & DISTRIBUTION SERVICES1100 N. 17TH St. 472-9970student involvement7Do you need tents?Tables?Trash Receptacles?Electrical Service?Sprinkler system turned off?Contact LANDSCAPE SERVICES1901 Y St. 472-2679IS THIS EVENT OUTSIDE?

student involvement8NOISE VARIANCEIs your event outside after 10 PM?If so, do you have $50 for a noise variance?14 day advance notice preferred

Contact LINCOLN-LANCASTER COUNTY HEALTH DEPT3140 N ST. 441-8000

student involvement9ATTENDANCEHow large is the anticipated crowd?Are non-UNL students invited?What about security?

Contact CAMPUS POLICE300 N. 17TH ST. 472-3555

student involvement10RISKIs there added risk?Do you need liability insurance?

Contact UNL RISK MANAGEMENT501 Bldg. Rm. 128 472-8044student involvement11PURCHASING FOOD?Using UNIVERSITY DINING SERVICES (UDS)No problem!Making your own?Contact ENVIRONMENTAL HEALTH & SAFETY

Prepackaged food is OK

student involvement12SELLING FOOD?TAXABLEPrepared foodsIf served with utensilsFountain drinks

NON-TAXABLERoom temperature or coolerNot with utensilsBake sales

student involvement13HAVING DRINKS?PEPSI?Must have 10 business days advance approvalALCOHOL?75% of people must be over age 21Need Vice Chancellor approvals & police enforcement

student involvement14DECORATIONSRequest an advance checkHave member purchase, keep all receipts, and fill out payment request voucher

Contact SOFS222 Nebraska Union 472-5667314 East Union 472-9630

student involvement15T-SHIRTSTAXABLESelling for a profitDo not pay tax to vendorNON-TAXABLESelling at face valuePay tax to t-shirt vendor

student involvement16PARKINGDo you need a hooded meter for your event?Do you want to reserve a parking lot?Contact PARKING & TRANSIT SERVICESStadium Drive Parking Garage Ste. A472-1800

student involvement17TRANSPORTATIONDo you have to rent a vehicle for your event?If so, then will you also need Field Trip Insurance?Contact TRANSPORTATION SERVICES1931 N. 14TH ST. 472-2422

student involvement18ADMISSIONSTAXABLERequired admission feeSuggested donation amountNON-TAXABLEFree will donationWill you need a cash box?

student involvement19RAFFLESRaffle tickets are non-taxable transactionMust keep extra raffle tickets and winner ticketsGet copy of Raffle Rules & Procedures

student involvement20GROUP TRAVELCan get an advance check for hotel fees, conference registration, and flightsMust have list of all members going, their NU IDs, and emergency contacts for Field Trip InsuranceTurn in 48 hours in advance of departure

student involvement21FACULTY MEMBERSPayments for services must go through UNL payroll officeReimbursements can be processed as normal

student involvement22MONEY MADEAll money must be deposited immediately into your RSOs SOFS accountDO NOT use the money collected to pay for expenses Deposit all money first, then request reimbursements

student involvement23SALES TAXDONT SHOOT THE MESSENGER!

See Sales Tax handout

student involvement24N-Card UseMembership Dues can be paid using a students N-CardAvailable at both City & East Campus SOFSMust have 4-Digit SOFS number to make transactionstudent involvement25UNL By-LawAll student organizations are prohibited from opening an outside account on behalf of an organization. RSO may be funded by affiliated outside entity.RSO may be funded by a University Department.

student involvement26Student Org. Need to KnowsYour four-digit student organization number is your student organizations financial identity within SOFS and the university.Budget Year = Fiscal Year 7/1/09 6/30/10

student involvement27SOFS PROCEDURESAccount Balance Confirmation must be returned to stay in complianceEmails are OK in place of a signature of approvalTraining sessions are available upon requeststudent involvement28Treasurer ResponsibilitiesKeep all financial records of the organization Pay organization bills Collect organization dues Prepare and submit financial reports to the membersstudent involvement29Treasurer Responsibilities Cont.Prepare an annual budget Be familiar with SOFS procedures and policies Advise members on financial matters (i.e., vendors, ticket selling procedures)student involvement30Key ConsiderationsCash/funds handlingTimely depositsDocumentation of DisbursementsDisbursement approvalsReview Your Monthly StatementsAdvisor involvement - keep them informedstudent involvement31Critical Control PointTwo signatures are required for all Payment Request Vouchers the treasurer or president and the advisorstudent involvement32If You Suspect Dishonesty In Your OrganizationAny suspected financial irregularities or shortages should be reported to SOFS management, Operations Analysis, and/or University Police immediately. Do not delay reporting as delays make investigating the suspected irregularity or shortage more difficult.Do not confront the individual you suspect; leave this for the professionals at the appropriate time in the investigation.student involvement33LOCATIONSCity Campus SOFS222 Nebraska UNION402-472-5667East Campus SOFS314 East Campus Union402-472-9630

student involvement34Questions and Answersstudent involvement35