2013-2014 This workshop contains information about depositing and spending money from a GMU student organization account. Additional information can be found in the RSO Fiscal Handbook on the Student Involvement website, si.gmu.edu, in the Fiscal Management section under Student Organizations. All organization Presidents and Treasurers must review this presentation and pass a brief test at the conclusion. IMPORTANT: Registered Student Organizations (RSOs) do not automatically receive money when they complete the registration process. Instead, RSOs in good standing are eligible to apply for and receive funding from the Student Funding Board. No funding will be awarded to organizations unless the officers have completed this workshop. Registered Student Organizations (RSOs) can get money to spend in two ways: By raising money themselves (self generated revenue or SGR), and By applying for funding from the Student Funding Board (SFB). If your organization has not applied for funding and has not raised money, you have no money to spend. RSOs can raise money by collecting dues, charging admission for events, securing donations and sponsorships, winning campus competitions, etc. Money raised this way is called self generated revenue, or SGR. All monies collected must be deposited into your student organization account, unless your organization has a national affiliate that requires an outside bank account for tax purposes. RSOs MAY NOT use Pay Pal to collect money. RSOs MAY NOT open off-campus bank accounts unless they have a national affiliate that requires an off campus account. Self Generated Revenue should never be deposited into a personal bank account. When money is collected at events such as dances or parties, Cash Handling and Wristband procedures must be followed. These procedures can be found on the Student Involvement website under General Policies for Student Organizations. Tier 1 RSOs may apply for up to $1,000 SFB funding per year. Tier 2 RSOs may apply for up to $3,000 SFB funding per year. Tier 3 RSOs may apply for up to $5,000 SFB funding per year. Funding can be used only for the event or purpose for which it is awarded. For example, if your organization is awarded $200 to pay a speaker on October 15, the funding cannot be used to buy refreshments for a meeting on October 30. An Event Evaluation must be submitted after events funded by SFB. If you fail to follow proper procedures, your organization may lose its eligibility to receive future funding from the Student Funding Board. Once your organization has raised SGR or been awarded SFB, there are several ways to spend the money. All spending must comply with the rules and guidelines of the Commonwealth of VA and GMU. All requests for payments must be signed by the President or Treasurer of your organization. All spending activity must be approved by the Office of Student Involvement. RSOs may use their student organization number to charge payments for campus services such as Copy Center, Parking Services, Events Production, and facility rentals (Corner Pocket, Center for the Arts, etc.) Using your organization number to charge campus services is like using a debit card. The charges you make will automatically be deducted from your account. Be sure that you have SGR or SFB in your account to cover the charges you make. Otherwise, you will be required to make a deposit to cover your spending. RSOs also can use their organization number to charge catering from the campus caterer, Special Occasions Catering, also known as Sodexo. Sodexo orders are placed on-line at catering.gmu.edu. Sodexo offers two kinds of service: regular catering for which they will deliver the food to your event, and a less expensive “Shoe String Menu” of food items that RSOs can pick up to bring to their events. There are several ways to purchase and pay for goods and services from off-campus vendors. These include: --1) using a Purchase Order --2) paying out-of-pocket and then seeking reimbursement --3) contracting with a DJ, workshop presenter, or performer --4) sending payment for dues or conference fees, and --5) giving a token of appreciation to someone who has rendered a professional service. Purchase Orders (POs) will allow you to get the goods you want without having to pay from your own pocket. RSOs may request Purchase Orders (POs) to pay off-campus vendors such as Domino’s, Giant Food, Panera, Jason’s Deli and others. When purchasing food from an off-campus vendor, you must use a GMU Approved Caterer. A link to the Approved Caterers List can be found in the Fiscal Management section of the Student Involvement website. To get a Purchase Order (PO), submit a Purchase Order Request Form at least 5 days before your event. Attach an estimate or invoice from the vendor to the PO Request. If the PO is for purchase of food, attach a Food & Beverage Form. We will issue a Purchase Order and send it by email to the student who requested it. The student will print out the PO and give it to the vendor when it comes time to pay. Very Important: After your event, you must submit the cash register receipt or final invoice from your purchase. Accounts Payable cannot pay the vendor without the receipt or invoice. For purchases at places that will not accept Purchase Orders, you will have to pay for the goods and then seek reimbursement. To request a reimbursement to a member of your organization, submit a Student Organization Payment Request Form (SOPR). Attach an original, itemized receipt and proof of purchase. Acceptable forms of proof are either a copy of a cashed check (front and back sides), or a bank or credit card statement showing the transaction. If the reimbursement is for the purchase of food, a Food & Beverage Form must be submitted. Very important: Without an itemized receipt and proof of purchase, Accounts Payable will not process a reimbursement. An itemized receipt shows each item that was purchased. The credit card signature slip is not an itemized receipt because it does not list the items purchased. Note that the university will not reimburse any taxes you pay. Accounts Payable can take up to 30 days to process reimbursements. d o r . V To hire and pay a DJ or performer, you must submit a e r GMU contract packet and a Purchase Order Request Form y at least 30 days before the event. I The Contract packet includes: a) a contract which mustmbe p completed and signed by the performer, b) a W-9 form o which the performer must complete, and c) an r Independent Contractor Form, which you must complete t to verify that the performer is a contractor and not a GMU a employee. n t: Under no circumstances should a student sign a contract. A f t e r y o To pay conference registration or dues to a national organization submit: a) a Student Organization Payment Request Form, b) an invoice or other documentation showing the amount due, and c) a list of students for whom the registration or dues are being paid. Requests to pay conference registration must be submitted at least 30 days before payment is due to the conference. Note that no funding will be awarded for dues payments. However, payments can be processed using self generated revenue. RSOs may pay Honorariums as tokens of appreciation to persons who provide professional services, such as presentations, for which payment is not required – that is, no fee is set or negotiated by the recipient. Presenters should arrange and pay for their own transportation. The Honorarium payment may include a sum to help defray the presenter’s travel expenses in addition to the amount given for appreciation. Students should never pay out of pocket for presenter travel expenses. To request an Honorarium payment, submit a Student Organization Payment Request Form along with a W-9 form completed by the presenter. Honorariums can be paid only to individuals, not to organizations or businesses. A Journal Voucher (JV) can be used for an internal transfer of money to pay another student organization (for example, when co-sponsoring an event) or a GMU department (for example, when paying Mason Recreation for use of fields or equipment). To request a JV transfer of money to another RSO or a GMU department, send an email to the OSI Business Manager stating the amount of money to transfer, the organization to receive the transfer, and a contact person who expects to receive the transfer. To pay Mason Recreation for use of fields or equipment, submit a copy of the invoice from Mason Recreation and a Student Organization Payment Request Form. Student organizations may buy t-shirts with self generated revenue. No funding can be awarded for the purchase of t-shirts, pens, cups, wristbands etc. To request payment for such items, submit a Purchase Order Request Form and an invoice from the vendor. If any Mason trademarks will appear on the shirts or items, you must buy the shirts from an approved logo vendor. A link to the list of GMU logo vendors can be found on the Student Involvement website in the Fiscal Management section. When collecting cash, payments should be recorded in a log. All checks collected should be restrictively endorsed upon receipt (for example, “For Deposit only, GMU org 610xxx”). A receipt must be given to each person who pays money. All monies collected should be properly safeguarded and should be deposited as soon as possible into the student organization account. Detailed instructions for making deposits can be found in the RSO Fiscal Handbook. All financial records, such as Cash Receipts and deposit logs, should be maintained for at least three (3) years. Records should be passed from out-going officers to incoming officers. Be sure to keep a copy of all documents submitted to Student Involvement in case the original paperwork is lost. GMU is prohibited by state regulations from paying for the purchase of alcohol, gifts, gift cards, and items of a personal nature. If you purchase such items, you will not be reimbursed. Purchase Orders may not be used to purchase prohibited items (for example, at Giant Food). A Food & Beverage Form is needed whenever food is purchased, no matter whether a Purchase Order is used or someone pays for the food and seeks reimbursement. There is one exception. Orders placed with Sodexo, the on-campus caterer, do not require a Food & Beverage Form. RSOs should always check box #3 on the form, for “Student Club Function”. Food & Beverage Forms that accompany Purchase Order Requests should list the vendor (i.e., Domino’s, Giant Food) in the Vendor Payee box in the upper left-hand corner. Food & Beverage Forms that accompany reimbursement requests (with the Student Organization Payment Request Form) should list the student who is seeking reimbursement (i.e., Jane Doe) in the Vendor Payee Box in the upper left-hand corner. Very Important: Students seeking reimbursement must sign the top line at the bottom of the Food & Beverage Form. All of the information presented here, as well as additional information and links to forms, can be found in the Fiscal Management section of the Student Involvement website, si.gmu.edu. If you have questions about spending money or you want to know your organization’s account balance, contact Barbara Campbell, Business Manager, at [email protected] For questions about funding applications and funding awards, contact Sara Morrisroe, Associate Director, at [email protected] This concludes the Fiscal Management Workshop. RSO Presidents and Treasurers must take the test that follows here. All answers are either true or false. If you score less than 80% on the test, go back and review the presentation and then take the test again. Click here to begin the test. Your test results will be sent automatically to the Student Funding Board.