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1. A Residence Hall with a university account cannot have other accounts. This includes checking, savings, etc. at banks, savings and loans, etc.
2. Each Residence Hall is required to keep a written record of all financial transactions generated. A ledger is provided with a column for expenses, deposits, and the total balance available. All Residence Directors and Hall Council Vice Presidents of Finance are required to know their own fund balances.
3. Each month a computer printout listing all deposits, disbursements, JV Transfers, and the ending cash balance is prepared. These monthly reports are to be used as a bank statement to check the overall accuracy of the organization’s records. These printouts help to ensure proper management of each Residence Hall’s account. This is called an X-
Gar
4. Resident Directors will receive the printouts each month, generally on or after the 7 th .
Resident Directors should meet with their Area Directors and Vice Presidents of Finance to reconcile their books to the ledgers so that any difference can be adjusted as soon as possible. If after reviewing the books and printouts, they do not balance; contact the RHA
Advisor for assistance.
5. No one may obligate the funds of a Residence Hall without the approval and authorization a Resident Director.
1.1.1.
Student Fees
All students residing in the University Residence Halls pay a Housing Activity Fee of $14 per semester. These funds are allocated to the Residence Hall Association, who, in turn, allocates funds to the Halls. As with all student fees every effort should be made to maximize the use of these funds for their residents. Any events involving these funds should be open to all Residence
Hall students. These funds should not be used for individual recognition or gifts, and the RHA
Advisor must approve any end-of-the-semester banquets or recognition events.
1.1.2.
Responsibilities of the Resident Director
The following are the baseline responsibilities of the Resident Director:
1. The Resident Director is required to know the fund balances of their Hall accounts at all times.
2. The Resident Director must approve all uses of Hall funds before being spent.
3. The Resident Director should make every effort to ensure the use of funds is transparent and that the Hall Council is aware of the balance of their funds at any given time.
4. The Resident Director is responsible for meeting regularly with their Hall Council Vice
President of Finance to review the budget and all financial transactions.
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5. The Resident Director is responsible for ensuring that student requests for funds and reimbursements are provided in a timely fashion, provided those students give the
Resident Director appropriate notice and that those funds are approved to be spent.
6. The Resident Director is ultimately responsible for keeping accurate financial records including duplicate copies of receipts and transactions.
1.1.3.
Responsibilities of the Hall Council Vice President of Finance (VPF)
The following are the baseline responsibilities of the VPF:
1. The VPF is required to know the fund balances of their Hall accounts at all times.
2. The VPF must approve all uses of Hall council funds before being spent.
3. The VPF should make every effort to ensure the use of funds is transparent and that the entire Hall Council is aware of the balance of their portion of the funds at any given time. To do so they must report the balance of their Hall funds to their Hall Council at their weekly meeting.
4. The VPF is responsible for meeting regularly with their Resident Director to review the budget and all financial transactions.
5. The VPF is responsible for all receipts and Hall Council/RA Receipt & Deposit Form
Envelopes. They must turn in the originals to their RD and keep a copy of the receipt and envelope front for their Hall Council’s records.
Total per Year
Total per Semester
Allocation per Semester
Hall Council Funds
28.00
14.00
2.50
RHA 11.5
To calculate the amount your Hall will be allocated per semester, multiply the number of residents in your Hall by $2.50. Residential Education staff and Hall Councils can begin using these funds at the beginning of the year even though the actual transfer of funds may not occur until later in the first semester and again later in second semester. Hall councils may also request use of RHA Hall Discretionary Funds if needed.
Each Halls should utilize the following account numbers:
Hall
Anderson
Fund
11
Unit Object Project
550510 XXXXX 70101
Centennial 11 550510 XXXXX 70102
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Letts
McDowell
Hughes
Leonard
Tenley
11
11
11
11
11
550510
550510
550510
550510
550510
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
70103
70104
70105
70106
70107
Nebraska 11 550510 XXXXX 70108
All Hall should use the Object Code of 52101 (General Supplies) for all expenses and the Object
Code of 49001 (Revenue) for all income.
Other expenses codes available to these accounts that are unused are: 52118 (Food), 52118
(Domestic Travel), 52401 (Printing and Duplicating), and 59907 (Funding Allocation).
Resident Directors should use a standardized spreadsheet to keep track of Hall finances. The spreadsheet will always be located and saved on the shared “I:” Drive under Housing/Res
Ed/RHA/Finance. You can open this spreadsheet to print out for your Hall council VP of Finance to use.
Even if your Hall’s VP of Finance is tracking the Hall Council's funds, you must also track those funds on your spreadsheet.
If you have sub-budgets (i.e. to RAs, to Hall Council, by floor, etc.), these should be tracked in separate tabbed worksheets within the same spreadsheet. At the end of the Academic Year all information must be accounted for on the spreadsheet (ledger) provided.
The Assistant Directors will check Hall spreadsheets monthly against budget reports and will contact the Resident Director if any unauthorized charges appear.
Year-End Review
All unused funds at the end of the year will roll back to RHA General. Resident Directors will meet with the RHA Advisor in April to review Hall finances.
Whenever expenditures are approved, the Resident Director will issue the purchasing party a
Hall Council Receipt & Deposit Form Envelope. Hall Council Receipt & Deposit Form
Envelopes are available from the RHA’s VP of Finance and Administration.
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The purchasing party should then fill out the envelope and retain a copy of the envelope and receipt for their own records. Completed envelopes must then be turned into the Resident
Director within 48 hours of the purchase.
A Resident Director or member of the Executive Board may use a Purchasing Card for Hall expenses. When reconciling a purchasing card at the end of the month, the RD must ensure that any Hall purchases are charged appropriately to their account.
Records:
• A summary of all charges for the month must be printed and kept with the Resident
Director.
• Copies of all receipts should be kept with the Resident Director and the VP of Finance.
Reimbursements for amounts under $100 may be processed by using a Petty Cash
Reimbursement Form.
When filling out a Petty Cash Reimbursement Form:
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1.
Fill out a Petty Cash Reimbursement Form (see below).
2.
Make two copies of the receipt and Petty Cash Reimbursement Form (one for the
Resident Director and one for the VP of Finance).
3.
Give the original receipt and Petty Cash Reimbursement Form to the purchasing party.
They may go to the Cashier’s Office to receive their cash payment.
Records:
• Two copies of the receipt and Petty Cash Reimbursement Form (one for the Resident
Director and one for the VP of Finance).
John Doe
AU ID NUMBER 1/1/2009
LEO HC – Sex, Milk and Cookies 10 .32
11-550510-XXXXX-XXXXX
10 .32
Resident Directors should consult with the RHA Advisor before processing reimbursements above $100, as a check will need to be issued.
Resident Directors should consult with the RHA Advisor before starting the check request process.
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Money may be transferred between University offices and organizations. These are known as JV
Transfers. For more information about JV Transfers, see Section 5: Transferring Money.
Resident Directors should consult with the RHA Advisor when appropriate before entering into any contract for goods or services and before making any transactions other than those listed above.
Any revenue for the Hall, exclusive of JV Transfers, should be handled through the Resident
Director and/or RHA Advisor.
If you need to transfer money internally within the University or need money transferred to you, you may use a JV Transfer Form. JV Transfer Forms can be located from the VP of Finance and
Administration of RHA or outside of the RHA office on the 1 st floor of Anderson.
All unused funds at the end of the year will roll back to RHA General. Resident Directors will meet with the RHA Advisor in April to review Hall finances.
The VP of Finance and Administration is responsible for all transition documents as decided upon by RHA and/or anyone else. Additionally, he/she must compile all documents, electronic and paper, in an organized and easily accessible manner.
VPs of Finance for each Hall are responsible for providing the VP of Finance and Administration with the remaining balance of their Hall’s account.
The VP of Finance and Administration is responsible for printing and distributing Hall
Council/RA Receipt & Deposit Form Envelopes to VPs of Finance and RDs of each Hall.
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These tools are used to allow for Outside Organizations, Halls, and RA’s, respectively, to have more access to money. The VP of Finance and Administration is responsible for all requests.
Grants and Hall Discretionary Requests will be heard by the VP of Finance and Administration weekly meetings, who then will come to a decision, and advise the general body on what decision to make. The following stipulations must be met for these requests. The VP of Finance and Administration reserves the right to alter requests if these stipulations are not met or are altered. The VP of Finance and Administration is to use a proportional scale when adjusting allocated amounts for requestors if the total of an event is lower than first estimated.
Grant Fund: Step by Step Guide
1.
Your AU organization wants RHA to help fund your event.
2.
Pick up a GRANT FORM (BLUE) outside of the RHA office.
3.
Fill out the entire form and attach a typed rationale (as detailed on front) and budget for your event.
4.
Use the symbol n/a when you do not fill a section.
5.
Return the completed form, typed rationale, and budget to the RHA VP of Finance and
Administration in the RHA Office (Anderson Hall, 1 st Floor).
**Grant forms must be received in the RHA office three weeks prior to the event**
6.
The RHA VP of Finance and Administration will contact you, the requestor, to discuss the event and request any additional details.
7.
If the Grant request is over $500 you will be required to present the request at an RHA
General Meeting. RHA General will then vote on the Grant. If the request is under $500, you will be required to present the event at the VP of Finance Committee meeting. The
VP of Finance committee will then vote on whether or not to approve the Grant. Funds will not be JV transferred until after the event has taken place.
**NOTE: Grant requests can amount to no more than 50% of the total budget for an event**
8.
If approved, the organization must follow the following guidelines: a.
The RHA banner must be hung at the event and returned to the RHA office in
Anderson hall within 48 hours. RHA reserves the right to withhold transfer of funds until the banner has been replaced. b.
Copies of all receipts must be submitted to the RHA VP of Finance and
Administration within a week of the event. RHA reserves the right to adjust the
Grant amount based on changes to the original event plan. c.
A final summary of what was spent, including the total spent, must be submitted in typed form within one week of the event. RHA reserves the right to withhold transfer of funds until this summary is submitted. d.
The RHA logo (provided by an RHA executive board member) must be present on any publicity generated for the event. e.
RHA will not offer petty cash reimbursements for any Grant expenses. All funds will be allocated via JV Transfer. f.
RHA reserves the right to alter, decrease or withdraw the Grant if the organization fails to abide by RHA stipulations.
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Hall Discretionary
1.
You want RHA to provide money from Hall Discretionary for your program.
2.
Pick up a HALL DISCRETIONARY FORM (YELLOW) outside of the RHA Office.
3.
Fill out the entire form and attach a typed rationale (as detailed on front) and budget for your event.
4.
Use the symbol n/a when you do not fill a section.
5.
Return to RHA VP of Finance and Administration in the RHA Office (Anderson Hall, 1 st
Floor). **Hall Discretionary forms must be received by Monday at 2pm at least one week prior to the event**
6.
If the Hall Discretionary request is over $100 you will be required to present the request at an RHA General Meeting. RHA General will then vote on the Hall Discretionary
Request. If the request is under $100 you will be required to present the event at the VP of Finance Committee meeting. The VP of Finance committee will then vote on whether or not to approve the request. Funds will not be JV transferred until after the event has taken place.
7.
If approved, the requestor must follow the following guidelines: a.
Copies of all receipts must be submitted to the RHA VP of Finance and
Administration within a week of the event. RHA reserves the right to adjust the amount based on changes to the original event plan. b.
A final summary of what was spent, including the total spent, must be submitted in typed form within one week of the event. RHA reserves the right to withhold transfer of funds until this summary is submitted. c.
The RHA logo (provided by an RHA executive board member) must be present on any publicity generated for the event. d.
RHA will not offer petty cash reimbursements for any Hall Discretionary expenses. All funds will be allocated via JV Transfer. e.
RHA reserves the right to alter, decrease or withdraw the request if the organization fails to abide by RHA stipulations.
RA Fund
1.
You want RHA to provide money for your Floor program.
2.
Pick up an RA FUND REQUEST FORM (PINK) outside of the RHA Office.
3.
Fill out the entire form and attach a typed rationale (as detailed on front) and budget for your event.
4.
Use the symbol n/a when you do not fill a section.
5.
Return the completed form, typed rationale, and budget to the RHA VP of Finance and
Administration in the RHA Office (Anderson Hall, 1 st Floor).
**RA Fund forms must be received in the RHA office by Monday at 2pm at least one week prior to the event**
6.
The RHA VP of Finance and Administration will contact you, the requestor, to discuss the event and request any additional details.
7.
If the RA Fund request is over $500 you will be required to present the request at an
RHA General Meeting. RHA General will then vote on the RA Fund request. If the request is under $500 you will be required to present the event at the VP of Finance
Committee meeting. The VP of Finance committee will then vote on whether or not to approve the request. Funds will not be JV transferred until the event has taken place.
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8.
If approved, the organization must follow the following guidelines: a.
The RHA banner must be hung at the event and returned to the RHA office in
Anderson hall within 48 hours. RHA reserves the right to withhold transfer of funds until the banner has been replaced. b.
Copies of all receipts must be submitted to the RHA VP of Finance and
Administration within a week of the event. RHA reserves the right to adjust the requested amount based on changes to the original event plan. c.
A final summary of what was spent, including the total spent, must be submitted in typed form within one week of the event. RHA reserves the right to withhold transfer of funds until this summary is submitted. d.
The RHA logo (provided by an RHA executive board member) must be present on any publicity generated for the event. e.
RHA will not offer petty cash reimbursements for any RA Fund expenses. All funds will be allocated via JV Transfer. f.
RHA reserves the right to alter, decrease or withdraw the RA Fund request if the floor/hall fails to abide by RHA stipulations.
Committee Fund
9.
You want RHA to provide money for your Floor program.
10.
Pick up an COMMITTEE FUND REQUEST FORM (PURPLE) outside of the RHA
Office.
11.
Fill out the entire form and attach a typed rationale (as detailed on front) and budget for your event.
12.
Use the symbol n/a when you do not fill a section.
13.
Return the completed form, typed rationale, and budget to the RHA VP of Finance and
Administration in the RHA Office (Anderson Hall, 1 st Floor).
**RA Fund forms must be received in the RHA office by Monday at 2pm at least one week prior to the event**
14.
The RHA VP of Finance and Administration will contact you, the requestor, to discuss the event and request any additional details.
15.
If the Committee Fund request is over $500 you will be required to present the request at an RHA General Meeting. RHA General will then vote on the RA Fund request. If the request is under $500 you will be required to present the event at the VP of Finance
Committee meeting. The VP of Finance committee will then vote on whether or not to approve the request. Funds will not be JV transferred until the event has taken place.
16.
If approved, the organization must follow the following guidelines: a.
The RHA banner must be hung at the event and returned to the RHA office in
Anderson hall within 48 hours. RHA reserves the right to withhold transfer of funds until the banner has been replaced. b.
Copies of all receipts must be submitted to the RHA VP of Finance and
Administration within a week of the event. RHA reserves the right to adjust the requested amount based on changes to the original event plan. c.
A final summary of what was spent, including the total spent, must be submitted in typed form within one week of the event. RHA reserves the right to withhold transfer of funds until this summary is submitted. d.
The RHA logo (provided by an RHA executive board member) must be present
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RHA will not offer petty cash reimbursements for any RA Fund expenses. All f.
funds will be allocated via JV Transfer.
RHA reserves the right to alter, decrease or withdraw the RA Fund request if the floor/hall fails to abide by RHA stipulations.
The VP of Finance and Administration is also responsible for RHA Fundraising. Traditionally this includes the annual Poster Sale and OCM’s Care Packages. The Poster Sale is in conjunction with Beyond the Wall and takes place at the end of Welcome Week and into the first week of classes of the Fall Semester. Care Packages are supplied via On Campus Marketing (OCM).
They are usually delivered three times during the academic year; at the beginning of the Fall
Semester, the end of the Fall Semester, and the end of the Spring Semester. The VP of Finance and Administration is responsible for the distribution of the packages. All revenue from these and all other Fundraisers is not under the same rules as student funds. It can be used for individual recognition or gifts, and any type of banquets or recognition events. This money should be placed into the account -70109. This money is also used to help fund NRHH.
Revised: 11/3/2011