st. olaf college student organizations’ financial orientation 2015-16

St. Olaf College Student Organizations’

FinancialOrientation

2015-16

Financial Information

• Business Office Staff & Contacts

• Lawson Units & Accounting

• Credit Cards

• Forms

• Tax Exemption

The Business Office Tomson Hall

Room 134

Tonya MalzCash Manager

malz@stolaf.eduDeposits and cash questions

Toni BurtAccountant

burt@stolaf.eduAccounting support

Deb JuenkeAccounts Payablejuenke@stolaf.edu

Check requests

Contact People

Jayne KieslerAccounts Payable

kieslerj@stolaf.eduCheck requests

To access Student Org Financial Forms on the web:

Student Org Financial Forms

Accounts Payable Check Request• Use in addition to invoice

provided by vendor• Need accompanying W-9

for new vendors only. • The deadline to submit

requests to Student Activities for approval is Noon on Monday.

• Due to Accounts Payable by 5:00 p.m. on Tuesday so the check will be ready by Friday.

• Attach original, itemized receipts.

• Must be signed and verified in Student Activities, BC 107.

• No reimbursement for sales tax paid.

• Gas receipts are not an acceptable reimbursement!

• If it is less than $50, cash can be received at the Business Office Window.

• Submit your direct deposit information only one time.

Travel/Reimbursement Form

Mileage Reimbursements• Volunteer Network orgs can

choose to set any mileage rate up to $0.56 per mile. (VN policy)

• All other orgs can choose to set any mileage rate up to $0.25 per mile. (SOC policy)

• Airport run is $43.00 round-trip.

• Remember to include destination(s) and number of miles on reimbursement form. Attach a map that shows number of miles.

Business Office Deposit Form • Business Office Hours: M-F

8:00 a.m.-4:30 p.m.• A deposit drop-box is located in

the hall under Business Office Window.

• All cash and checks must be added up.

• Remember to include a description!

• The Student Activities Office has a safe; they are happy to hold onto deposits until Orgs are ready to deposit them. Please don’t hold large sums of money in private residences!

Cash Advance Form• Must be signed and verified in

Student Activities, BC 107. • The Org’s cash balance must be

checked and approved by either the Office of Student Activities.

• Once approved, take the request to the Business Office.

• When sale is completed, return all funds to the Business office. Complete a Deposit form to return original funds and deposit the remainder in your Org unit.

Form directions here

TAX EXEMPT

• St. Olaf College is a tax exempt entity in the state of Minnesota

• Our tax exemption number is 20133• Exemption certificates are available on the

web:http://www.stolaf.edu/offices/treasurer/ces.pdf

• Exceptions: Prepared Meals, Lodging (If it’s a service, we can pay tax, not for items)

Notable Items

• Nonresident Aliens (NRAs)

If your organization intends to pay any NRAs, contact Angela Iverson (507-786-3022)

well in advance of making any payment agreements

• Minnesota Nonresident Entertainer Tax

2% withholding on entertainers from other states. This includes speakers as well.

Coding

Company (3) - Unit (5) - Account (5) - 99 - SubAcct (4)

Required Required Required Optional

Office of Student Activities staff can help!!

Co. always

010

Co. always

010

Specific to your

org

Specific to your

org

Changes based on

transaction type

Changes based on

transaction type

Frequently Used Accounts

• Lists accounts used most often by student organizations.

• This list can be found http://wp.stolaf.edu/treasurer/frequent-accounts/

• Staff can help – this can be confusing…

Accessing the Lawson Web

If you’re listed as a member in Org Database,

you have Lawson access.

Same as

email

sign-on

Go back to the Main Screen:

Select the fiscal year

Check the box of the report you would like

to view

Select the “View

Reports” button

Budget Variance Report

• Variance: the difference between the budget column and actual column.

• Most student organization units do not get budget numbers loaded into Lawson.

• Reference the Actual column total for the balance of your unit.

(Credit) Balance = Available balance

Parenthesis = Positive

Debit Balance - Overspent

In this example, the organization overspent by $262.50.

Select the TR button to view the transaction detail.

Example of transaction detail:

Transaction Reports

• Will take you directly to the transaction detail.

• Can be run year-to-date or by period.

• Can export transactions directly to Excel.

Click Open

Check Excel format

The transaction data will be exported to Excel.

Now you can sort, filter, subtotal, etc. as needed.

Click “Clear Report Choices” before selecting a new report.

Help! has info on Lawson web as well as Excel tips.

Credit Card Rules

• Do Not use the card for subscriptions or re-occurring payments• When you drop card off – let us know if there are back-orders or

special circumstances. Make a note on the sheet.

Credit Card Checkout RemindersThings to remember:

DO get itemized receipts that include the price for every item purchased. A $1/day/receipt late fee will be charged for every day receipts are missing past check-in date.

DO provide a list of everyone who goes out to eat.DO use good judgment when make purchases. No alcohol, no gas, etc.

 DO NOT check out the credit card for more than 48 hours. A $10/day late fee will be charged for every day the card is not returned past

check-in date. DO NOT lend the card out to someone else to use. It's been issued to you and is your personal responsibility. If you are found lending

your card out, your credit card privileges will be revoked.DO NOT pay sales tax. Exceptions include prepared food (restaurants) and lodging. You will be responsible for any sales tax that you

pay. DO NOT use the credit card to pay for gas.

DO NOT use the credit card at K-Mart. DO NOT use the credit card on campus, (the Bookstore, the Pause, the Cage, etc.). Student orgs will have to check out department cards

to pay for on campus transactions. Special Case: we have a special tax exempt card to be used at Menard's

 If you lose the card, call Joe Briesemeister (952-797-6410) or Kris Vatter (C: 507-210-7730) and let them know ASAP. If any charges

are made, you are personally responsible (not the organization) for the charges.

Credit Card Check Out

Credit Card Wallet

•Amazon.com: As of October 2014, Amazon.com began assessing sales tax for its orders. The OSA has an Amazon account that

has a tax-free status built in. Stop by the office to make any purchases you may need from Amazon

without incurring taxes.

Other Notable Things

•Paying Speakers/Performers: If your organization intends to pay anyone outside the college for services rendered (speaking fee,

transportation, performance, etc) the OSA needs to be informed well in advance. Often times these engagements require a contract. We can help

you with this!

•Paying Students: If your organization intends to pay a St. Olaf student for services rendered (photographer, coach, etc.), the payment must be hourly, via student employment, paid out of the org’s budget.

Stop by the OSA in advance to get that set up!

Sales and Credit Cards

Ole Dollars Credit Cards

• Still working on a system for CC sales.

• Can do ticket sales via University Tickets, but cards cannot be swiped, only entered.

• Contact OSA with further questions.

• In-person sales on-campus

• Reserve system minimum one week in advance

• Need to know names of students managing sales

• Laptop

• Device and training provided

Thank You Have a great year!