1 Club Signer’s Workshop Fiscal Year 2018Jamie LaPierre, Treasurer Simon Pavlow, Chair, Finance Committee Blanka Caha, Business Manager
2 Communication Club-signers BookTwo authorized signers, President and Treasurer Assuming financial responsibility Club-signer list – KEEP IT UPDATED Do you need your FY18 Budget? The Lynx Supplemental forms, Travel forms, etc. University Tickets Mailboxes Resources – JL
3 FY18 Financial Calendar Outlines important deadlines and eventsFound at and in the Treasurer’s Quick Reference Guide JL
4 FY18 Financial Calendar July 1, 2017 Start of Fiscal Year 2018. September 10, 2017 Clubsigners Workshop (MADATORY for all Clubsigners) December 8, 2017 Last day for spending during the Fall semester. Clubs will not be allowed to spend during the winter session unless a written request is given to the SGA Treasurer. Budget request forms for FY18 will be released. Please visit uvm.edu/sga for budget materials. January 24 and 25, 2018 Budget Workshop (one session MANDATORY for all treasurers). February 2, 2018 Budget Requests are due. Please follow all guidelines for submission found on uvm.edu/sga. No late submissions will be accepted. February 3, 2018 Budget hearings begin. These appointments will be made by the Finance Committee with each club as it deems fit. February 23, 2018 Budgets ed to club-signers for review. February 26, 2018 Appeals Process begins. March 20, 2018 Budgets sent to SGA Senate for approval. April 12, 2018 All summer financial paperwork due to the Finance Office. May 4, 2018 Spending for School Year 2017/2018 (FY18) will close for all organizations unless a written request is given to the SGA Treasurer. June 8, 2018 SGA Finance Office will close all FY18 spending. June 30, 2018 End of Fiscal Year 18. JL
5 Account Ledgers Uvm.edu/sga Clubs & Orgs Club resources JL
6 Budgeted Fund (130) Funded by the Student Activities FeeAllocations determined by the SGA Finance Committee Budget Supplemental Funding Planned expenses are outlined in budget Budget reallocation Money does not carry over year-to-year JL
7 Fundraised Fund (131) Funds raised by the organizationMoney must be spent to benefit the club and its goals Spending is not limited budget allocations Funds are carried over into the next fiscal year Fundraise requirement University Tickets payments will be transferred into this fund JL
8 Donations Fund (311) Processed through the UVM FoundationAlumni outreach 5% processing fee on all donations Additional information is available on the UVM Foundation website at Contact me if interested in organizing fundraising campaign All donated funds contribute to reaching fundraise requirement Balance carry over JL
9 UVM Foundation ResourcesContact Kevin F. Morgenstein Fuerst at Go.uvm.edu/givesga Select club Customizable SGA Logo Banner No external accounts permitted (e.g. gofundme, checking/deposit) accounts) JL
10 Responsibility Centered ModelTier Maximum Budget Request % of Requested to Fundraise Tier 1 $50,000+ 15% Tier 2 $20,000 - $49,999.99 10% Tier 3 $5,000 - $19,999.99 8% Tier 4 Under $5,000 5% Tier E No Budget Request Must fundraise all funds JL Tiered system Financial incentive for clubs abiding by Financial Policies Budget decreased for not reaching fundraising requirement Phase 4 – Fundraising requirement for funds requested through the General Supplemental Fund
11 Frozen Accounts Cannot access money from either the budgeted (130) or fundraised (131) account Accounts may be frozen if a club: Has insufficient balance in accounts or overdraws its accounts Fails to repay petty cash Defaults on a loan No longer “in good standing,” by Club Affairs Committee standards Unauthorized Spending (see next slide) Has not completed mandatory Lynx forms Unfreezing accounts – rectify above issues and meet with Treasurer JL
12 Unauthorized SpendingHUGE emphasis on submitting purchase orders BEFORE the fact The PO is the authorization that binds UVM to the purchase and payment to the vendor Failure results in personal liability to the individual who placed the order The terms & conditions associated with the purchase may put UVM at risk of exposure for liability, hold harmless, and indemnification BC
13 Unauthorized SpendingWhat Constitutes unauthorized spending? Spending without PO authorization/approval/allocation PO – Invoice – Payment Hiring without consulting Finance Office Outside accounts (e.g. gofundme, bank checking accounts, etc.) Subject to up to 25% penalty from fundraised fund BC
14 Purchase Order Request (PO)Legal promise of payment from the University Most vendors accept POs Submitted before purchase - NO BACK-DATING or REIMBURSEMENTS Requests submitted at least 7-10 business days in advance UVM cuts checks on Tuesdays and Fridays JL
15 How to fill out PO RequestHurry and ASAP are NOT a date Source number = 800xxx, NOT FUND Select the fund(s), (130 or 131) Give the FULL vendor name and address, this includes the Zip Code For food orders give ALL of this information Remember: For a check – you must have some type of quote/invoice/statement saying you owe the vendor something! JL When renting a vehicle/bus give ALL of this information
16 Purchase Orders (cont’d)Do NOT commit money to any vendor before PO Unauthorized Spending Have ALL necessary paperwork before dropping anything in the PO box Invoice, W9, Independent Contractor, etc. Paperclips! Respond promptly to notices from Treasurer A request copy will arrive in club’s mailbox R# & P# JL
17 Blanket Purchase OrdersCreated when multiple expenses to the same vendor are expected for recurring orders (5 or more) Some examples Repeated vehicle rentals from the same external vendor Monthly fees Convenience JL
18 Additional Documents for PurchasesPayment to an individual for providing a service W9 Form for new vendors Independent Contractor Form (each payment) Base Contract Form or invoice Purchase of products with University symbols or “UVM” Licensing Waiver – link on SGA website No order before approval Ordering office supplies (no PO request form needed) Use UVM Bookstore/Print & Mail Center Orange Slip Staples - Credit Card (see Sara) JL
19 W9 Form Federal Law and UVM policy require W9 for all vendorsEmployee ID# or SSN must be on the signed W9 HINT: if SSN provided, Independent Contractor Form Needed before the PO request can be submitted Submit for new vendors only JL
20 Independent Contractor FormSeek citizenship status from vendor Name and last 4 of SSN of payee. Unit/Department is “SGA – (club name)”. Only fill out Sections I, II, and III, with Part C unless dealing with a researcher. Do not sign here! This is for the Finance Office. JL Don’t forget to fill in the description of services!
21 Base Contract Form All contracts must be signed by vendor before requesting Pat’s signature – required for all contracts longer process JL
22 Hiring Student EmployeesFew clubs approved to hire employees All new hires must be discussed with Blanka before work begins BC
23 Account Details Chartstring Source Numbers BC
24 Credit Card Purchases Can be used when other forms of payment are not acceptable Examples: hotels, plane tickets, online purchases Can only be used within the Galaxy Space during the Finance Office business hours New Financial Assistant to help with CC purchases BC
25 ‘Orange Card’ (Charge card)Used to pay for purchases within University Ex: Print and Mail Center, Bookstore One transaction per card Authorized by a SGA authorized signer (Sara/Blanka/Jamie) BC
26 Food Purchases 130/cultural/food-centered orgs onlyUniversity-wide policy requirements Sodexo catering waiver is needed for outside catering on campus, except: Purchasing pizza Catering by University approved vendors Potluck for club members The catering waiver must be submitted online through the Conference and Events Services website. Please allow at least 2 weeks for approval JL
27 Petty Cash Used sparingly – gas/tollsThe responsibility is placed on Custodian Closed out with receipts and remaining cash following Tuesday One Petty Cash Request out at a time Two signatures (Clubsigner and Custodian) BC
28 Axiom Reports 4 reports dispersed monthly from [email protected]Keep track of transactions made on your 130 and 131 accounts Inform Treasurer or Finance Office ASAP of any charges that you do not recognize! Additional information on how to read reports is on the SGA Resources for Clubs website NOTE: depending on when a credit card purchase was made, the transaction might appear on a later report JL
29 Axiom Summary Report POSITIVE NEGATIVE Generated revenueFY17 roll over - expenses 131 money rolled in from previous fiscal year JL Total spent and encumbrances Total available
30 POSITIVE Axiom Detailed Report NEGATIVE JL
31 Vehicle Rental Risk Management approval for driving all rentalsMinimum age of 19 years old Course certification .html Transportation policy: ortationpolicy.pdf 2 drivers needed for trips over 50 miles from campus No more than 2 vehicles can be rented per destination Bus needed due to risk management policies If you have a blanket purchase order with Avis or Hertz, please see us for additional paperwork BC
32 SGA Vehicle Rental Must be reserved no more than four weeks in advanceSGA Fleet 8 Vans (12 passenger) at $70/day 1 pick-up truck at $60/day BC
33 Outside Vendor Vehicle Rental/TravelOutside vendors- thru purchase orders Cars/vans Avis (12 passenger vans) - reserve by or phone (5+ days, driver names) Hertz – (cars/SUVs) reserve thru Lynx Enterprise (driver must be at least 21 years old) – reserve online School Bus (quotes from each vendor, both contracted vendors) First STA/Mountain Transit Coach Bus Premier Coach (contracted vendor, must go to Premier first) Lamoille Valley Coach These purchases require a purchase order Must fill in additional information section of Purchase Order Request Form BC
34 Renting from Avis & HertzJL
35 Loans Granted with approval of SGA Treasurer Repayment scheduleSGA reserves the right to derecognize an organization for failing to repay No interest applied JL
36 Deposit Slips Cash, checks, and unused petty cashOnly way to deposit funds Checks MUST be made payable to the University of Vermont or UVM Copies of checks must be attached JL
37 Dues Collection University TicketsOnline payments - USE PERSONAL DEVICES ONLY For the collection of dues/memberships/fees May be open to T-shirts, etc. Reduces risk of carrying cash & holds club-signers and members accountable Fees associated with the platform Contact Constance at JL
38 Reserving Space on CampusUse online server, Virtual EMS u/virtualems/ Easily found through UVM A-Z search Space must be clean to avoid charges Make reservations at least 7 days in advance JL Uvm.edu/sga for more instruction
39 Supplemental Funding Gas Supplemental Capital FundingNationals Funding Diversity Enhancement Funding Uniform Funding Professional Development Wellness and Engagement Fund is needed for requests over $2,000
40 Supplemental Funding (Cont.)All Supplemental Funding requests must include evidence for or intention of fundraising and completed forms Submit forms on the Lynx by 12 noon on Fridays Hearing with Finance Committee for all requests except Gas, Tolls, and Travel Accommodations Requests over $5,000 require an advisor’s approval SGA Senate approval
41 Supplemental Funding Used for unforeseen expensesQualifying for competition, conference arises Used for Travel Accommodations General guidelines: Hotels: Up to $120/night/room with 4 people/room Flights: Up to $1,000/semester for 2 people
42 How to Request SupplementalsStep 1: Log onto the Lynx at
43 How to request SupplementalsStep 2: Search for SGA Finance Committee
44 How to request SupplementalsStep 3: Select appropriate form
45 How to request SupplementalsStep 4: Follow all instructions on form and submit. You will receive an confirmation shortly after submission.
46 How to request SupplementalsStep 5: Check periodically for scheduling of hearing time (except gas) Response and allocation will be communicated via by noon on the following Thursday Further information may be requested post-hearing if necessary bring all quotes and signatures to hearing & other supporting documents to hearing Failure to show up to hearing results in no allocation
47 General Supplemental FundSupplemental funding for club members that require funding for additional accommodations/event/registration, but as a new budget item Meeting with Finance Committee required Club-signer or member can submit form using the General Supplemental Fund Subject to total fundraising requirement
48 Uniform Funding Eligible every three yearsDetailed distribution plan for storing and maintaining uniforms
49 Gas Supplementals Because gas prices are variable, gas is never budgeted for Include route and mileage Please request funding for tolls through the General Supplemental Follow the equations to calculate the estimated cost This must be done before traveling No reimbursements will be made for any club expenses
50 Nationals Funding Expenses for qualifying national events. This is an acknowledgement of achievement. More flexibility on funding caps
51 Diversity Enhancement FundCan be used for events cultural or religious in nature in order to enhance diversity and to benefit the campus Examples: holiday events, speakers, etc. Food may be allocated for under some circumstances per the discretion of the Finance Chair
52 Capital Projects Special funding available for tangibles with life expectancy of > 5 yrs. Price quotes for the item(s) and additional supporting information
53 Wellness & Engagement FundFunding for events that promote healthy activities on weekends determined “high risk” for alcohol and other drug use and abuse Dates determined by the President’s Committee on Alcohol and Other Drugs Any dates not listed will be considered upon formal request by the Finance Chair Funding is also provided for events promoting and contributing to positive mental health
54 Additional Professional Development Charter Bus
55 Turn in Advisor Agreement Form & Club-signer Agreement form!
56 Questions?