Welcome to Treasurer Training Victoria Onuzuruike College Council - - PowerPoint PPT Presentation

Welcome to Treasurer Training

Victoria Onuzuruike

College Council Treasurer FY 2016

THE BASICS

• College Council allocates the Student Activities Tax to

student groups throughout the year

• CC Treasurer works with the Finance Committee to make

recommendations for College Council

• Any student group or individual can request funds no

matter how new it is

• CC is the last resort for supplemental funding! Please

reach out to relevant sources first

• Email me at vno1@williams.edu with any questions

BUDGETS

Maximizing Odds of Funding

• Specificity - Tell us exactly what you are looking to

get funded

• This is especially the case with items like costumes
• Exact Price - No rough estimates or ranges.
• Tell us exactly how much the tournament, speaker, or trip

is going to cost

• Know what are the most important items on your

budget before meeting with the Finance Committee

RULES FOR ALLOCATED MONEY

■ NO food or drink unless for an all-campus event ■ NO alcohol, tobacco, prostitutes, or things prohibited by law ■ NO personal items (ex. sweatshirts or CDs)—all items must stay with

group: technically purchases are CC property

■ NO direct donations to charity using CC funds ■ NO funding of salaries/items usually paid by the college ■ NO transferring allocated money to non-CC or “off-shore” accounts ■ All events must be free to attend and open to entire campus ■ Follow specific transportation and lodging bylaws (explained soon)

TRANSPORTATION & LODGING GUIDELINES

• College Cars: Are free but are very hard to secure on

short notice.

• Personal Cars: $0.17/mile/car
• Enterprise: $0.17/mile + $20/day (proof needed)
• Zipcar: 80% hourly rate + <8 hours (proof needed)
• Hotel: $30/person/day for up to 5 days
• PLEASE CHECK OUT TRANSPORTATION

BYLAWS ON THE COLLEGE COUNCIL WEBSITE IF YOU HAVE ANY QUESTIONS OR EMAIL ME

TRANSPORTATION LOG

• Required form to be submitted by all groups traveling
• including when using personal vehicles, zip cars, college vans,

and buses, etc.

• Failure to do so, means no funding for their trip or for

the activities they partake in while on said trip

• (i.e. mileage or rental cost), including but not limited to

registration fees, hotel accommodations, etc.

http://student-life.williams.edu/student- involvement/forms-2/student-transportation-log-draft/

HOW FINANCE COMMITTEE DECIDES

• # of participants or contributors to the activity
• Benefit to the overall college experience or the degree to

which this will benefit all students of the college

• Unrepresented niche
• Balance against constraints of budget
• SAT = ~$95/student/semester
• Student demand

HOW TO REQUEST FUNDS

• Subgroup Allocation
• Supplemental Funding Form
• Email the CC Treasurer

HOW FUNDS CAN BE REQUESTED

Annual Total $425,000

(Student Activities Tax $95/student each semester)

Subgroup General Fund Co-Sponsorship CC Projects Nationals Benefits Capital Investments

THE SUBGROUP ALLOCATION PROCESS

• Members of FinCom will set up a meeting with you

to go over your budget/understand the needs of your subgroup

• Subgroup Meetings will take place between the 21st-

25th

• Assessment Week will take place between 28th-2nd
• On October 7th, College Council will vote on

FinCom’s proposed allocations

IMPORTANT DATE

SUBGROUP ALLOCATION BUDGETS

Budgets are due by

Saturday, SEPTEMBER 19TH at 11: 59PM

NO EXCEPTIONS

Broken down costs of what you need Remember: Specificity, Exact Price, and Prioritization vno1@williams.edu

TREASURER TRAINING (16-17) SUBGROUP MEETINGS (21-25) DUE DATE (18) ASSESSMENT WEEK (28-02)

SUPPLEMENTAL FUNDING

• Go to collegecouncil.williams.edu and select

“Supplemental Funding” on the top right hand side

• It will bring you to the form to fill out
• Make sure to include a description of the event and
• ther sources that you have secured funding from
• REMEMBER to seek out other sources first http:

//student-life.williams.edu/student- involvement/supplemental-funding/

SUPPLEMENTAL FUNDING

• Upon filling out this form, I will receive your request
• Important for FinCom to see:

1)

Specific description of event

2)

Multiple funding sources sought out and secured BEFORE coming to FinCom

3)

Planning ahead—come a couple weeks before the event

NON-SUBGROUP EMAILED BUDGET

CO-SPONSORSHIP FUNDING

• This is used to fund all campus events or MinCo

events.

• Must be free of charge to attend.
• All students are eligible to attend.
• It can be used for food and drinks but NOT for

alcohol. ENTERTAINMENT CO-SPONSORSHIP FUND to fund social events on campus

REQUESTING ADDITIONAL FUNDING

• If you run out of allocated funds, you are welcome to

ask for more

• Fill out the Supplemental Funding form on the College

Council website OR e-mail me a budget

• You will then be invited to come to Finance Committee

to explain your request (Meetings are on Tuesday nights at 9:30 in Paresky 220)

• These requests can be for funding anything ranging from

nationals fees to all campus events.

YOU GOT THE MONEY! NOW WHAT?

ACCESSING YOUR FUNDS: VOUCHERS

■ You use this when you front the cost of something or to get a

check for a payment that you’re going to make

■ Easiest way to get to this is on the CC website, under the Funding

Tab and clicking “Index of Funding Forms”

■ It’s labeled under STUDENTS as Accounts Payable voucher

request

■ Account Listing: Number refers to the type of purchase it is ■ Fund: 110 for MinCo groups and 400 for CC groups ■ Department ID: Number refers to your student group. Each one

has its own

■ Account Listings and Department ID lists can be found on the CC

website

■ ONLY THE GROUP’S TREASURER CAN SIGN OFF ON

THESE FORMS

TREASURER SIGN HERE

REIMBURSEMENT VOUCHER

ACCESSING YOUR FUNDS: VOUCHERS

■ If you have a receipt with multiple purchases, write each individual

purchase on the voucher

■ All receipts must be taped to an 8.5 x 11 in. sheet of paper ■ Only one invoice per voucher ■ Transportation Reimbursement Requirements

1) List of students who travelled & # of cars used 2 ) Print out of Google Maps with the mileage & route travelled 3) # of cars * reimbursement rate * mileage = total

■ THIS EQUATION MUST BE WRITTEN ON YOUR

GOOGLE MAP PRINT OUT

■ Vouchers will be have a due date this year three weeks before the

end of the semester, as a result of past reimbursement problems.

ACCESSING YOUR FUNDS: VOUCHERS

Turn these in to the College Council Treasurer Mailbox in upstairs Paresky, in the Student Activities Resources Center, which is across from the Office of Student Life. Turn these in by Sunday if you need the check cut by Wednesday because this is the only day the Controller’s Office does this. This process should take at most two weeks. Please contact me if you’re working with a tighter timeline.

COMMON PROBLEMS

• Wrong transportation reimbursement and/or Hotel Rates
• Using Vouchers to pay for Payroll
• Reimbursing DJs, Hosts, Security, etc. CANNOT go

through vouchers but through payroll or co-sponsorship

• OSL will take care of this if you plan through them
• Donating directly to charity
• Asking for money when you do not have enough in your

account.

• Although I check before signing the forms, this is one of

the most common ways that groups get into debt!

ACCESSING YOUR FUNDS: P-CARDS

■ This is probably the easiest option, but not always possible. ■ Go to CC website and find the link on the top, right hand corner. ■ Fill it out! If you need help finding your Department ID, look it up

• n collegecouncil.williams.edu.

■ Make sure that you have enough money allocated to your group. ■ If I approve the request, you do not fill out a reimbursement

voucher anymore

■ After you execute the purchase, I will check to ensure it followed

the bylaws

■ Make sure to keep your receipts because you have to turn it in

when you return the Pcard.

I will only approve the request if it is requested by your group’s Treasurer.

OTHER OPTIONS: CASH DEPOSIT

• As the name indicates, this is used to deposit cash or

checks into your group’s account -- Ex. Ticket revenue, when your group overspends, donations, or other such revenues.

• Again, this form can be found on the CC website, under

the Funding Tab, in the Index of Funding Forms (http: //controller.williams.edu/files/cashdepositnew.pdf)

• You must fill out this form (leave PS Account and Grant

blank) and put in an envelope along with the cash. Then, you turn it directly to the Controller’s Office.

1) Go to finance.williams.edu 2) Sign in with your Williams ID and password (same as sarah.williams. edu) 3) Once logged in, on the top left under Main Menu, select “WMS Financial Reports” 4) In Fiscal Year, type “2016” 5) Skip over Accounting Period, Report Type, Proj/Grant & Location 6) In Department, list your club’s Department ID 7) Click Search for Reports 8) Click on View for “Trn Dtl YTD”—this will be most useful. It is the last out of four reports. The negative numbers are sums going into your account as revenue The positive numbers are expenses incurred

ACCESSING YOUR FUNDS: PEOPLESOFT FINANCIALS

Use the YTD Report Select WMS Financial Reports

WORDS OF WISDOM

• Don’t depend on PeopleSoft Financials -This is how

groups get into debt

• Use an Excel spreadsheet to track your expenses and

revenue! It’s as easy as that!

• Otherwise, YOU AND YOUR GROUP WILL be paying
• ut of pocket to make up any overspending incurred.
• Don’t request funds retroactively—you have no

guarantee of getting them.

AUDITS AND INVENTORY

• An audit delineates income/revenue and
• expenditures. As well as helps track items owed by

the groups/College Council.

• The June audit is mandatory in order to receive

funding the following school year.

• Look at for more information at the end of the year

about the audit and summer storage.

RESOURCES

• The funding tab on collegecouncil.williams.edu
• Department IDs, Account Listings, Funding Forms
• Treasurer Corner in the SARC in Paresky
• Controller’s Office website

Contact Victoria Onuzuruike at vno1@williams. edu

ENDING REMARKS

• Subgroup Budgets are due this Friday the 18th by

11:59pm.

• If you have any questions e-mail me at vno1 or

consult the CC Funding Bylaws

• And now, check your e-mail. You should have a

short quiz in your inbox, which is mandatory to take and get at least a 80% in order to pass Treasurer Training!

Questions?