Student Organization Procedures for Managing Funds on Campus Financial Services 212 Hover Ypsilanti, MI 48197 Phone: 734-487-1321 Fax: 734-480-1043 mailto:busfin_generalaccounting@emich.edu Table of Contents Eligibility Requirements ………………………………………………………………. Application Process ………………………………………………………………….... Banner Reports …………………..........………………………………………........... Depositing Funds ……………………………………………………………............... Depositing Cash or Checks................................................................................... Receiving Funds from EMU Departments............................................................ Resources...…………………………………………………………………………….. Purchasing Goods & Services …………………………………………………............ Paying External Vendors (non EMU related)………………………................... Paying Internal Vendors (EMU related)........……………………....................... Reimbursements ………….………...………………………………................... Computer Access............................................................................................................. Questions and Assistance................................................................................................ 1 2 3 3 3 4 5 5 6 7 7 9 9 Form Examples Example 1 - Fund Application…………………………………………….......... Example 2 - Deposit Voucher ………………………………………………...... Example 3 - Direct Pay Form ……………………………………...................... Example 4 - W9 Form …………………………………………………............. Example 5 - Inter-Department Purchase ............................................................. At a Glance X-Fund vs Off Campus Account………………………………...... 10 11 12 13 14 15 Student Organization Fund Guidelines Last Revision: 9/17/2013 Welcome student organization leaders and advisors! We recognize and value the contribution that student organizations make to a vibrant collegiate experience. As your organization goes about the business of engaging students in meaningful activities outside the classroom, you will find that there are instances where you'll need to either spend or deposit money associated with your club and its activities. In a large institution like EMU, there are many internal controls and procedures around managing money that you'll need to know about. These processes are designed to help safeguard the institution and ensure that funds are managed appropriately. In the pages that follow, you'll learn: how and when to set up a campus fund how to deposit money into that fund the ways in which you can spend money out of that fund how to check on your fund’s balance at any time the forms necessary to complete all of your transactions Be sure to read this information thoroughly, share it with the members of your organization, and feel free to let us know if you need additional guidance as you learn to navigate these processes. Eligibility Requirements (back to top) (return to application) Organizations must be currently recognized by Campus Life, located at 345 Student Center, by updating their information in the Student Organization Web Portal http://emu.collegiatelink.net/a minimum of once per year. (see Recognition Process) http://emich.edu/campuslife/student-organizations/start-an-org The Student Organization Web Portal must contain the following information: There must be, at minimum, 5 members/participates listed in the portal to be recognized as a valid and current student organization. A Primary Contact must be designated. The Student Organizations Advisor must be listed. Officers of the Student Organization must be listed. Authorized signers must be noted. Authorized signers must include, at minimum, the President, Vice President, Treasurer, and Faculty/Staff Advisor. Other signers may be added at the discretion of the student organization. Page 1 Student Organization Fund Guidelines Last Revision: 9/17/2013 Eligibility requirements continued... (back to top) Failure to maintain the above information in the Student Organization Web Portal may result in delays of payment processing All student organizations are strongly encouraged to also maintain their own bank account at an accredited financial institution, such as Chase Bank which has a branch on the 1st Floor of the Student Center. See At a Glance: X Fund vs. Off Campus Account page at the end of this document. Student organizations that receive funds from University sources (example: Campus Life, Student Government or other EMU departments) are required to have an EMU Fund (X Fund) assigned by Accounting and the funds from the EMU department deposited directly into the EMU Fund. Accounting will automatically close Student Organization EMU assigned X Fund accounts that have no activity in the Fund for 730 days (2 years). The remaining balance in the Fund will be transferred to the original EMU department funding source, or if no EMU department can be identified, the funds will be transferred to Campus Life in support of student organization activities. Application Process to Obtain an EMU Fund (back to top) A completed Student Org Fund Application Form http://www.emich.edu/controller/accounting/docs/stuorgfundopenapplication.pdf see example 1, must be signed by the student organization faculty/staff advisor. Submit the completed application to Accounting, located in 212 Hover Building. Accounting will assign the organization a unique number which consist of the Fund, Organization (Org), and Program Code (X#####/200001/80) The Organization number will always be 200001 (Student Organizations). The Program Code will be 80 (Scholarships and Fellowships). This number will be posted in the student organization’s profile on the Student Organization Web Portal. Each student organization’s President, Vice President, Treasurer, and Faculty/Staff Advisor must be designated as signers on their Student Organization Web Portal membership page. Other signers may be added at the discretion of the student organization. Page 2 Student Organization Fund Guidelines Last Revision: 9/17/2013 Application Process to Obtain an EMU Fund continued... (back to top) The student organization must ensure their Student Organization Web Portal membership page contains all of the proper information as noted in Eligibility Requirements. All changes that affect student organizations, including changes of officers and/or designated signers, must be completed using the Student Org Web Portal. These changes will be communicated via the portal to the organization’s faculty/staff advisor. EMU’s Tax ID should never be used for any reason for any student organization. For tax exempt status, contact your national organization as you may be able to use their tax id number (TIN). If not, you may obtain your own by applying at http://www.irs.gov. Chase Bank at the Student Center may be able to assist you with this process. Banner Reports (back to top) Reports can be obtained by using the Banner Self Service Feature by logging into my.emich at: https://my.emich.edu/cp/home/displaylogin and selecting the Student Tab then selecting the Finance Tab. The data can be downloaded into Excel for printing or manipulation. The best way for Student Organizations to get access to view your funds if you currently do not have access is to request Finance access via the webpage using the link "Banner Finance Access-Student Org " at: http://www.emich.edu/busfin/forms.php. Also review the Self Service Finance Documentation found at: http://www.emich.edu/training/selfservice/content/index.php . Only one individual from the organization can have access. Depositing Funds (back to top) All funds deposited into the organization’s account may only be withdrawn through Eastern Michigan University’s expense reimbursement, invoicing and / or purchasing procedures – See guidelines at: http://www.emich.edu/controller/payable/docs/AP-Procedures09102012.pdf Page 3 Student Organization Fund Guidelines Last Revision: 9/17/2013 Depositing Cash or Checks (back to top) Checks to be deposited should be made payable to: EMU/X##### A Deposit Voucher, http://www.emich.edu/sbs/docs/depositvoucher.pdf see example 2, must be completed and taken to the University Cashiers office, located at 201 Pierce, for processing and must include: Name of Organization Name of person making the deposit & contact number Fund Number: X##### Org Number: 200001 Program Number: 99 (used for deposits only, otherwise use 80) Revenue account code: 0624 Description of deposit: Advertising, donations, dues, registration fees, Tshirts, etc. The cashier staff will verify the deposit and prepare a receipt. The organization must retain this receipt for verification against their financial statement. Deposited checks that are returned for any reason (i.e. account closed, insufficient funds etc.) will be charged back against the organization’s account in the amount of the check in addition to a non-refundable $20.00 processing fee. Receiving Funds from EMU Departments (back to top) Funds received from any EMU Department must be deposited into the student organizations X fund. The student organization should provide their X fund number to the Department providing the funding. The Department will complete an Inter-Department transfer form and submit to Accounting. Accounting will complete the transfer of funds from the Department to the Student Org. The form can be found at: http://www.emich.edu/busfin/forms.php. A student organization may choose to complete the form themselves and have the Department sign the form approving the transfer. The form should be submitted to Accounting in 212 Hover. Page 4 Student Organization Fund Guidelines Last Revision: 9/17/2013 Resources (back to top) Forms and other Resources for Managing your Fund may be obtained from: Online Business and Finance forms - http://www.emich.edu/busfin/forms.php Student Org Fund Application form http://www.emich.edu/controller/accounting/docs/stuorgfundopenapplication.pdf Inter Department Form http://www.emich.edu/controller/accounting/docs/InterDepartmentTransfer.pdf Direct Pay form - http://www.emich.edu/controller/payable/DirectPay.pdf W-9 Tax form - http://www.emich.edu/controller/payable/w9.pdf Deposit Vouchers -http://www.emich.edu/sbs/docs/depositvoucher.pdf(also available at Cashiers Office 201 Pierce) Independent Contractor Information http://www.emich.edu/controller/accounting/docs/IndependentContractorEmploy eeConsultant.pdf Authorization for Direct Deposit http://www.emich.edu/controller/payable/docs/AuthorizationDirectDeposit.pdf Allowable Expense Reimbursement Guidelines http://www.emich.edu/controller/payable/docs/AP-Procedures09102012.pdf Student Organization Web Portal - http://emu.collegiatelink.net/ Student Organization Recognition Process -http://emich.edu/campuslife/studentorganizations/start-an-org Purchasing Goods and Services (back to top) Fund balance must be sufficient to cover expense. All requests require two authorized signatures as designated in the Student Organization Web Portal. Submit payment requests (see paying External Vendors, Internal Vendors, or Reimbursements below) to Accounting for processing. All payment requests should reference the fund number (X#####) org number 200001 program code 80 Purchasing Goods and Services continued... Page 5 Student Organization Fund Guidelines Last Revision: 9/17/2013 (back to top) No checks may be picked up. All payment requests must include a current mailing address for the check to be mailed or alternately, if the vendor would like to supply Direct Deposit information in lieu of receiving a check the form can be found at http://www.emich.edu/controller/payable/docs/AuthorizationDirectDeposit.pdf Invoices are paid net 30 with checks being printed every Tuesday of each month. Original supporting documentation, supplied by the vendor, must be attached to all payment and/or pre-payment requests. Examples of the most common acceptable documents include: Original invoice or contract (no copies or faxes): Must state vendor name & address on letterhead or stamp. Must state an amount and description of the transactions. Must be dated. Original, dated receipts (no copies, faxes, or statements): All receipts must be itemized. Receipts from On-line purchases must show the complete company address, credit card type, amount paid and clearly state the item(s) purchased. Credit card statements are not acceptable documentation. Documents labeled as a “Statement” are not acceptable documentation. Receipt must clearly indicate PAID by the vendor, for reimbursements. Paying External Vendors (non-EMU Related) (back to top) To have EMU issue payment directly to an external vendor complete a Direct Pay form on-line- http://www.emich.edu/controller/payable/docs/DirectPay.pdf see example 3, Page 6 Student Organization Fund Guidelines Last Revision: 9/17/2013 Paying External Vendors continued... (back to top) The Direct Pay Form must be completed and printed online. This form is used for payment under $5,000 for any payment over $5,000 you have get set up to authorize the payment on-line. For questions regarding this, please contact the Accounts Payable Department at 487-0022. If paying an EMU department, Do Not Use the direct pay form see Paying Internal Vendors (see section below). Supply Supporting Documentation, as noted above. A completed W-9 Tax form http://www.emich.edu/controller/payable/docs/w9.pdf, see example 4, must be attached or on file for external vendors. The payment must be issued to the vendor listed on the invoice, not a subsidiary company. The W-9 must also match the vendor. Due to tax consequences, it is highly recommended that services are paid for directly by EMU through the External Vendor process. Payment for all services requires an EMU independent contractor agreement see procedures at: http://www.emich.edu/controller/accounting/docs/IndependentContractorProced ures.pdf. EMU will not reimburse Student Organizations that choose to pay for services themselves. Student Organizations are responsible for all IRS reporting regulations. If the organization is giving an award to an individual, an Award Letter from the organization must be attached. This letter must specify the name of the award, how the award was earned, the recipient’s name, EID or SSN, and address. This form is used for payment under $5,000, for any payment over $5,000 you have to get set up to authorize the payment on-line. For questions regarding this, please contact the Accounts Payable Department at 487-0022. Paying Internal Vendors (EMU Related) (back to top) To have payment issued to an internal vendor (another student organization or university department), the Inter-Department Transfer form http://www.emich.edu/controller/accounting/docs/InterDepartmentTransfer.pdf must be completed and supporting documentation as noted above provided, see example Page 7 Student Organization Fund Guidelines Last Revision: 9/17/2013 5. For purchasing goods/ services from someone outside EMU see Paying External Vendors (see above section). Reimbursements (back to top) If a student is seeking expense reimbursement on behalf of the organization, the student must complete the Direct Pay form http://www.emich.edu/controller/payable/docs/DirectPay.pdf, see example 3, and attach supporting documentation as noted above, which clearly indicates PAID by the vendor. If the receipt does not clearly indicate PAID by the vendor, other documentation clearly showing the expense has been paid must be provided. Cancelled checks and credit card receipts are the most common form of documentation. The student must include his/her EID number in the space provided on the Direct Pay form. Due to tax consequences, it is highly recommended that services are paid for directly by EMU through the External Vendor process. EMU will not reimburse Student Organizations that choose to pay for services themselves. Student Organizations are responsible for all IRS reporting regulations. Reimbursement checks will be available for distribution on the 10th and 25th of each month. In the event the 10th or 25th of the month falls on a weekend or University Holiday, the last business day before the 10th or 25th will become the date of distribution. Reimbursements received in Accounts Payable no less than 5 business days before the designated Reimbursement date will be available on the scheduled distribution date. Those received less than 5 business days before the Reimbursement date will be delayed until the following designated reimbursement date. There will be no reimbursements for payments of services. All services must be paid for directly by Eastern Michigan University following the external vendor payment process or paid for from a non-University account (example: the student organizations Chase Bank checking account). If paid for with a non-University account, the Student Organization is fully responsible for all IRS reporting regulations. Page 8 Student Organization Fund Guidelines Last Revision: 9/17/2013 Computer Access (back to top) Students may access these forms on computers located in the Student Organization Resource Room in the Center for Student Involvement located on the 3rd floor of the student center. There are two public use computers located on the 1st floor of Hover Building that may be used to complete the forms. Go to the Business and Finance website forms tab and look in the section entitled student organizations at: http://www.emich.edu/busfin/forms.php For questions and assistance with your Fund contact: (back to top) Campus Life Matthew Jones 345 Student Center 734-487-5669 mjone102@emich.edu Campus Life Casey Jordan Krone 345 Student Center 734-487-5669 cjordan@emich.edu Accounting Lillian Tusson 212 Hover 734-487-1440 ltusson@emich.edu Accounting Mary Beth Irwin 212 Hover 734-487-3326 mirwin1@emich.edu General Line: 734-487-1321 busfin_generalaccounting@emich.edu Report errors in this document or broken links to Regina Kelley rkelley@emich.edu or call 734 487-0036 Page 9 Student Organization Fund Guidelines Last Revision: 9/17/2013 (back to top) (return to application) Example 1 - Application Page 10 Student Organization Fund Guidelines Last Revision: 9/17/2013 (back to top) (return to depositing funds) Example 2 – Deposit Page 11 Student Organization Fund Guidelines Last Revision: 9/17/2013 (back to top) (return to paying external vendor) (return to reimbursement) Example 3 – Direct Pay Page 12 Student Organization Fund Guidelines Last Revision: 9/17/2013 (back to top) (return to paying external vendors) Example 4 – W9 Page 13 Student Organization Fund Guidelines Last Revision: 9/17/2013 (back to top) (return to purchasing goods and services) Example 5 – Purchasing Goods/Service from EMU Departments Page 14 Student Organization Fund Guidelines At a Glance: (back to top) (return to eligibility) X FUND VS. OFF CAMPUS ACCOUNT X Fund Off Campus Account Deposits from EMU Sources Required Not Applicable from Non-EMU Sources Allowed Allowed Transfer Funds Not Allowed Allowed Payments for Goods Allowed* Allowed Payments for Services Allowed and Recommended* Allowed, but not Recommended Reimbursements for Goods Allowed* Allowed Reimbursements for Services Not Allowed Allowed Withdraws * All payments are subject to EMU’s policies and procedures Page 20