FISCAL MANAGEMENT
PRESENTATION
2014-2015
Welcome
 This presentation 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.
Organization Finances
 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 all required fiscal training.
HOW CAN YOUR ORGANIZATION GET
MONEY TO SPEND?
 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.
Self Generated Revenue -- SGR
 RSOs can raise money by collecting dues, charging admission for
events, securing donations and sponsorships, and winning campus
competitions. 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.
 Checks should be made payable to your organization, for example,
“GMU Bicycling Club”.
Collecting Money
 Student Organizations MAY NOT use Pay Pal to collect money.
 Student Organizations MAY NOT open off-campus bank accounts.
 Self Generated Revenue (SGR) 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.
Student Funding Board -- SFB
 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.
More about SFB
 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.
Spending SGR and SFB
 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 Virginia and GMU.
 All requests for payments must be signed by the President or
Treasurer of your organization.
 All spending activity must be approved by Student Involvement.
On-Campus Purchases
 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.
Campus Caterer
 RSOs can use their organization number to charge catering
from the campus caterer, Special Occasions Catering a.k.a
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.
Off-Campus Purchases
 There are several ways to purchase and pay for goods and
services from off-campus vendors. These include:




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--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.
1) Purchase Orders
 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.
More about Purchase Orders
 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.
Purchase Orders, continued
 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.
2) Reimbursements

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 an
RSO Payment Request Form.

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.
More About Reimbursements
 Note that the student who is seeking reimbursement must
sign the RSO Payment Request Form.
 If a Food & Beverage Form is submitted with the
reimbursement request, the student seeking reimbursement
also must sign the top line on that form.
 If your organization is seeking payment to a person who is
not a GMU student, that person does not have to sign the
RSO Payment Request form.
More on Reimbursements
 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.
 The university will not reimburse any taxes you pay.
 Accounts Payable can take up to 30 days to process
reimbursements.
3) Paying a DJ, Performer,
or Workshop Presenter
 To hire and pay a DJ or performer, you must submit a GMU
contract packet and a Purchase Order Request Form at least 30
days before the event.
 The Contract packet includes: a) a contract which must be
completed and signed by the performer, b) a W-9 form which the
performer must complete, and c) an Independent Contractor
Form, which you must complete to verify that the performer is a
contractor and not a GMU employee.
 Under no circumstances should a student sign a contract.
4) Conference Registration
and National Dues
 To pay conference registration or dues to a national organization
submit: a) an RSO 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.
 You must have self generated revenue for dues payments. No
funding will be awarded for dues payments.
5) Honorarium

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 presenter.

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 an RSO Payment Request Form along
with a W-9 form completed by the presenter and documenation showing that the
presentation took place – a flyer, announcement, etc.

Honorariums can be paid only to individuals, not to organizations or businesses.
One more way to pay

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 SI 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.
T-shirts
 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.
Procedures for Collecting Money

The Commonwealth of Virginia requires the following:

When collecting money, payments should be recorded in a log.

All checks collected should be restrictively endorsed upon receipt (for example, on the
back of the check you should write, “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.

Instructions for making deposits can be found in the RSO Fiscal Handbook.
Record Keeping
 GMU requires that 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 in-coming
officers.
 Be sure to keep a copy of all documents submitted to Student
Involvement in case the original paperwork is lost.
Restrictions on purchases
 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).
Food & Beverage Form
 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”.
More on Food & Beverage Forms
 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 RSO 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.
Questions?

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
bcampbe2@gmu.edu.

For questions about funding applications and funding awards, contact Sara Morrisroe,
Associate Director, at smorrisr@gmu.edu, or Melissa Masone Ulmer, Assistant
Director, at mmasone2@gmu.edu.

The following pages of questions are provided for review. We encourage you to take
a few minutes to look over the questions and answers.
Question 1
 True or False: RSOs automatically receive
funding when they complete the registration
process.
Answer 1
 False. RSOs do not automatically receive
funding. They must apply for it.
Question 2
 True or False: The only way for an RSO to get
money is to apply for funding from the Student
Funding Board.
Answer 2
 False. RSOs may raise money themselves by
collecting dues, charging admission to events,
getting donations and sponsorships, winning
campus competitions.
Question 3
 True or False: RSOs may use Pay Pal to collect
money.
Answer 3
 False. RSOs may not use Pay Pal to collect
money.
Question 4
 True or False: Only the President or Treasurer of
an RSO may request that a payment be made
from the organization account.
Answer 4
 True. The President and Treasurer are the only
individuals authorized to spend money from
RSO accounts.
Question 5
 True or False: If you use your organization
number to charge campus services such as
Events Production or Copy Center, the fee will
automatically be deducted from your RSO
account.
Answer 5
 True. Charges made on campus using your RSO
organization number are automatically
deducted from your account.
Question 6
 True or false: A Purchase Order allows RSOs to
get goods and services from off-campus vendors
without paying out of pocket.
Answer 6
 True. With a Purchase Order, students do not
have to pay out of pocket.
Question 7
 True or False: A GMU Contract Packet must be
completed and submitted 30 days in advance in
order to hire a DJ, performer, or workshop
presenter.
Answer 7
 True. To hire a DJ, performer or workshop
presenter, a GMU contract and Purchase Order
Request must be completed and submitted at
least 30 days in advance.
Question 8
 True or False: To process a reimbursement,
Accounts Payable will accept a copy of a receipt
or the credit card signature slip.
Answer 8
 False. In order to process a reimbursement,
Accounts Payable requires the original, itemized
receipt. Accounts Payable will not accept copies
of receipts or credit card signature slips.
Question 9
 True or False: RSOs may apply for and receive
funding for the purchase of t-shirts.
Answer 9
 False. No funding can be awarded for the
purchase of t-shirts.
Question 10
 True or False: When purchasing food from an
off-campus vendor for an event on campus,
RSOs may choose any caterer or restaurant they
please.
Answer 10
 False. Food for on-campus events must be
purchased from Approved Caterers.
Question 11
 True or False: Financial records must be kept for
at least 3 years and should be passed from outgoing officers to in-coming officers.
Answer 11
 True. Financial records must be kept for 3 years.
Organization records and knowledge should be
passed to new officers.
Question 12
 True or False: RSOs may not use either self
generated revenue (SGR) or funding from the
Student Funding Board (SFB) for the purchase of
alcohol, gifts, gift cards, and personal items.
Answer 12
 True. State rules prohibit the purchase of
alcohol, gifts, gift cards, and items of personal
nature.
Question 13
 True or False: A Food & Beverage Form is
needed for all payments for food, except for
purchases from the on-campus caterer, Sodexo.
Answer 13
 True. All payments for food require a Food &
Beverage Form, except for purchases from
Sodexo.
Question 14
 True or False: No funding will be awarded to an
RSO unless the President and Treasurer have
completed all fiscal training.
Answer 14
 True. To be eligible for funding, the President
and Treasurer must complete all fiscal training.
Question 15
 True or False: All monies collected by an RSO
must be deposited into the RSO’s on-campus
account unless the organization has a national or
international affiliate that requires an offcampus account for tax purposes.
Answer 15
 True. All monies collected by RSO’s must be
deposited into their on-campus accounts unless
they have a national or international affiliate
that requires an off-campus account.
Question 16
 True or False: If you charge services on campus
without having sufficient self generated revenue
or funding in your RSO account, you will be
required to deposit money into the account to
cover the charges.
Answer 16
 True. You are responsible for all charges made to
your RSO account and will be required to
deposit money into the account if you overspend.
Question 17
 True or False: Honorarium payments can be
made to show appreciation to presenters who
do not charge a fee for their professional
services.
Answer 17
 True. Honorariums are paid as tokens of
appreciation to individuals who provide
professional services, such as presentations, free
of charge.
Question 18
 True or false: Honorarium payments may
include a sum to help pay for the presenter’s
travel expenses.
Answer 18
 True. Honorarium payments may include a
consideration for travel expenses.
Question 19
 True or False: Money collected by your
organization for the sale of t-shirts may be
deposited into your treasurer’s personal bank
account for safe keeping.
Answer 19
 False. Money collected by student organizations
should never be deposited into a personal bank
account.
Question 20
 True or False: Additional information about RSO
fiscal procedures can be found on the Student
Involvement website, si.gmu.edu.
Answer 20
 True. For additional information and forms,
check the Fiscal Management section under the
Student Organization drop down on the Student
Involvement website.