Club Finance CertificationProcesses and Procedures for

SG Recognized Clubs

Rochester Institute of Technology

▪ Please read the following slides that pertain to Club Finance Certification.

▪ At the conclusion of the tutorial, you must complete a short quiz. In order to become Financially Certified, you must receive a score of 80% or better.

▪ If you receive a score of less than 80%, you may immediately go through the tutorial again and complete a different quiz.

Certification Instructions

▪ If you are taking this training module, it is because you want to learn how to carry out financial transactions on behalf of your Student Government recognized club.

▪ We now require that the entire E-board be Financially Certified due to co-op obligations, and a better overall understanding for the leadership of your club.

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Remember on the EAF that both the Requestor and the Alternate need to be Financially Certified students, so having the entire E-board will make it easier to

carry out your club transactions.

Why do I need to be certified?

▪ Front Desk

▪ Where receipts and VISA Cards are returned.

▪ Front Desk Assistant can print out a “Funds Available Report” for your club.

▪ Where cash boxes can be requested, picked-up and returned.

▪ Mail Folders

▪ Located near the Front Desk in the Club Center.

▪ In the folders, clubs can pick up any mail addressed to them that comes to the Club Center, and other documents that a club may have requested.

Club Center General Information

▪ The Expense Approval Form (EAF) will be the most used form by your club in our office. This form is located in the Form Rack just inside the Club Center.

▪ The EAF is required for all Expense Transactions a club is looking to make, and the Form must be on BLUE paper.

▪ The EAF is required to be filled out using 2 Financially Certified Members and must be signed by the Club’s Advisor before bringing it in for a transaction.

▪ You will also need a separate EAF Form for each vendor where you plan on making a purchase.

Expense Approval Form (EAF)

▪ A “Funds Available Report” for your club can be requested from the Club Center Desk.

▪ The Club Budget Process has been moved entirely online now.

▪ Club Budget Tips are located at: ▪ www.rit.edu/studentaffairs/campuslife/clubs/club-budget-tips-and-process

▪ The Club Budget Request will be made in the spring. Information will be made available beforehand on how to request a budget.

▪ Your club must spend its allocated club budget by May 31st.

▪ The Club Budget CAN NOT be used to purchase the following: ▪ Club memorabilia including T-Shirts

▪ Hospitality (Food & Drinks)

▪ Prizes and Awards

▪ There are two information sessions held in the spring semester each year to go over in detail the club budget process.

Club Budgets

▪ You must submit Petty Cash requests 3 days in advance of need. Last minute requests will not be able to be accommodated.

▪ Check Requests can take 10 to 14 business days or longer to process. Plan accordingly.

▪ Clubs should develop a process to keep track of copies of receipts and Expense Approval Forms (EAF’s) that have been submitted and notes regarding their events.

▪ Failure to follow processes may result in re-certification of members and/or a Financial Hold on your club.

Club Financial Responsibilities

▪ The easiest way to collect money as a club is through our online collections system. This new system allows a club to set up a collection site online and the funds are deposited straight to their account.

▪ There are two requirements with this system: 1) the amount being collected must be $10 or more. 2) This needs to be set up ahead of time by talking to the Club Office Finance Staff.

▪ All other deposits must be accompanied by a Deposit Form and placed in a Deposit Envelop (both filled out completely and correctly). Any two club members must sign the form and any member can make the deposit.

▪ Deposits should be made as soon as possible to safeguard the security of funds. The policy is that all funds collected must be deposited within 3 business days after the event.

▪ **New This Year** All Deposits must be submitted by using the Deposit Drop Box. The Deposit Drop Box is located to the right of the A-Level CCL Office Suite just before entering the tunnels. This box is wired to Campus Safety for the security of your funds.

▪ Spending out of a club’s fundraising without first depositing the revenue into your club account will jeopardize your club’s recognition status and place your club on hold.

▪ It is against RIT policy to collect revenue using internet sites such as PayPal.

▪ When depositing donations received from a company or person, please indicate on the Deposit Form that these funds are a donation and include contact name, company name and full address.

Financial Transactions Revenue

▪ You must first register all club events and club travel on the Link@RIT.

▪ An EAF form must be completed by a Financially Certified club member and signed by the club advisor.

▪ EAF forms must be submitted at the Club Center Desk.

Remember! ▪ RIT VISA Cards are the preferred method of payment or

procurement.

▪ Sales Tax Exempt forms must be used for all purchases. RIT does not reimburse for sales tax. Forms are available at the Club Center.

▪ No alcoholic beverages are allowed to be purchased nor reimbursed through club accounts.

Financial Transactions Expenses

1. An EAF form must be completed by a Financially Certified club member and signed by club advisor.

2. You must fill out a separate EAF form for each vendor you wish to make a purchase from.

3. Financially Certified club members may either make an appointment to pick up the VISA card with the Club Center Staff, or just drop in. However, appointments take priority.

4. You will bring completed and signed EAF form to your meeting with the Club Center Financial Staff.

5. Be sure to look at your receipts before leaving the store. It is YOUR responsibility to make sure there is no tax on your receipt.

6. If you make an online purchase, you need to forward the invoice or order confirmation to the Club Center Staff that you signed the VISA card out from.

Visa Card Process

Continued on Next Slide

7. Online Orders must be addressed to the Club Center’s address: RIT/(Your Clubs Name)

Attn: Robin Amico

Campus Center Bld. 3 – Room 1610

127 Lomb Memorial Drive

Rochester, NY 14623

7. Clubs will be notified via email when orders arrive. Only the requestor or designated alternate contact may pick-up items with RIT Student ID.

8. Then return VISA card to Club Center Front Desk the next business day by 11am along with the original itemized receipt or computer printout with no sales tax. (check for tax BEFORE leaving the store)

9. If the VISA transaction is hospitality related (if any food was purchased) include a list of who attended/participated in the event.

10. If you check out a VISA card on Friday, you have until Monday @ 11am to return VISA card and original receipts or on-line confirmation.

Visa Card Process

Your Club can be placed on hold meaning your club cannot make any transactions via the Club Center and/or fined $25 for not following this process!

Petty Cash Advance for an Event: 1.An EAF form must be completed by a Financially Certified club member and signed by club advisor.

2.In the Detailed Description field of the EAF form, indicate denominations of the change needed.

3.The EAF form must be handed in at the Club Center at least 3 days before the event.

4.The club will be notified when the Petty Cash is ready for pick-up. Only the requestor or alternate contact on the EAF form can pick-up the petty cash with their RIT ID.

5.At conclusion of event, the Petty Cash MUST be returned promptly to the Deposit Drop Box. Your club needs to deposit any fundraising separately from the petty cash advance (you MUST make 2 separate deposits).

Financial Transactions Petty Cash Needed

Cash boxes are available free of charge at the Club Center for SG-recognized clubs that are having an event and need them. Boxes are ‘First Come, First served’ and can be checked out ahead of the event. See the Club Center Front Desk to sign one out.

1. An EAF form must be completed by a Financially Certified club member and signed by the club advisor.

2. A W-9 form completed by the person/company you wish to pay must be submitted along with your EAF Form. W-9 form must indicate individual’s/company’s Social Security number/Tax ID and permanent mailing address as well as signature and date.

3. If reimbursement is to be issued to an RIT student, a W-9 form is not needed. Simply indicate their University ID number on EAF form where indicated along with a Direct Deposit Authorization form.

4. Submit all other documents such as invoices from person/company.

5. If the check is for services of a referee, attach an Official’s Voucher Form as well as a W-9 form completed by the referee.

6. If the check is for registration fees and vendor does not accept VISA, then you would attach a copy of completed registration form.

7. Submit all documentation to Club Center Desk. Check processing takes 2-3 weeks from date of submission – please plan accordingly.

Financial Transactions Check Payment

1. The Club MUST register their event with the Link@RIT at least 1 month in advance.

2. Your club must research several hotels for availability and pricing.

3. Once you have decided on a hotel, an EAF form must be completed by a Financially Certified club member and signed by club advisor.

4. You would then make an appointment with Club Center Staff and bring the researched hotel information to your appointment along with the completed and signed EAF form.

5. Appointments can be made at the Club Center Desk.

6. Our policy for making hotel reservations is via telephone. Online hotel reservations are NOT permitted.

7. If you are reserving a speaker/performer’s room, bring a completed copy of Contract Request Form (CRF), which you receive through EVR.

Financial Transactions Travel for Hotels

Keep in mind: You will need to fill out Room Chart with names of who will be in each room. Campus Life policy is males and females MUST have separate rooms

1. You will need to register your event with the Link@RIT at least 1 month in advance.

2. Your Club will need to research several online air travel sites for availability and pricing. You will also need to get a list of the first and last names of travelers, and the Date of Birth of all travelers. These BOTH must match their photo IDs EXACTLY. Decide on the flights you want, but have a backup plan in case of no availability once you schedule a meeting.

3. Once you have decided on airfare, an EAF form must be completed by a Financially Certified club member and signed by club advisor.

4. Make an appointment with the Club Center Staff and bring researched information (from above) to your appointment along with completed and signed EAF form.

5. Appointments can be made at the Club Center Desk.

6. If you are reserving a speaker/performer’s airfare, bring a completed copy of Contract Request Form (CRF), which you receive through EVR.

Financial Transactions Travel for Airfare

Special Note: For airfare reservations of 10 or fewer people, schedule 1 hour meeting. For more than 10 people, schedule 1½ hour meeting.

1. You need to register your event with the Link@RIT at least 1 month in advance.

2. An EAF form must be completed by a Financially Certified club member and signed by club advisor.

3. You must be a certified driver with RIT in order to rent an SG Van.

4. There must be a certified driver for every 150 miles. 5. In order to get reimbursed for expenses incurred

when renting a SG Van or other rented vehicle, you MUST submit original gas receipts, so make sure to get a receipt at the pump.

Financial Transactions SG Van Rental

Please be aware that it may be difficult and/or expensive to rent vehicles to drivers under the age of 25. We will do our best to provide vehicle rental wherever possible.

1. An EAF form must be completed by a Financially Certified club member and signed by the club advisor.

2. For flyers and posters used to promote your club, they need to be reviewed and approved by Sarah Griffith prior to going to the Finance Team. The best way to do this is send Sarah Griffith an email with your design attached and ask for approval of design.

3. Once your design is approved, you would bring the completed EAF form to the Club Center Desk. Your HUB Request form will then be placed in your club mail folder with in 3 business days.

Financial Transactions Hub Request Process

Did you know? Clubs are entitled to 200 FREE single sided black-and-white copies per academic year through the Club Center.

1. An EAF form must be completed by a Financially Certified club member and signed by club advisor.

2. The design for the shirts MUST be reviewed and approved by Sarah Griffith prior to going to the Finance Team. The best way to do this is send Sarah Griffith an email with your design attached and ask for approval of design.

3. It is always a good idea to make an appointment with the Club Center Finance Staff before making an apparel order.

4. Once the apparel is ordered, remember to have shipment delivered to the Club Center Office (address is found later in the slide show).

Financial Transactions T-Shirt & Apparel Orders

1. An EAF form must be completed by a Financially Certified club member and signed by the club advisor.

2. You need to use the Staples order form to itemize your order and attach it to your EAF form.

3. Then you would submit the Staples order form and EAF form to the Club Center desk.

4. The person who submitted the order form will be notified via email when their order is available for pick-up. That student will need to bring his/her RIT ID when picking up the order.

Financial Transactions Staples Purchases

The Club Center has a Staples catalog you can look through to find the items you may need. The price in the catalog is not the price you will be charged, as RIT gets preferred pricing for many items.

▪ An EAF form must be completed by a Financially Certified club member and signed by the club advisor.

▪ To whom you are transferring funds and the reason for the transfer must be listed in the Detailed Description field of the EAF form

▪ A journal entry will be created to debit or credit your club account.

Transfer of funds from other departments

▪ If your club needs additional funds: ➢ To travel: In order to apply for additional funds for travel,

you must first register your trip through the Link@RIT.

➢ To buy equipment or purchase items for an event: In order to apply for additional funds for an event or to produce necessary equipment for club business, you need to fill out Student Government Application for Additional Funds Form online through SG’s Website

▪ What happens next?

You will be contacted by the SG Finance Director to notify you when your application will be reviewed by the Finance Committee. You will attend that meeting and explain why it is important to your club to obtain this funding. After this meeting, the committee will decide and subsequently send you an email regarding the award.

Financial Transactions Additional Awards Overview

▪ Clubs should start the Contract process at least 1 MONTH before the event by registering your event on the Link@RIT.

▪ Contracts are needed even if a fee is not being charged by speaker/entertainer (a zero dollar contract will be generated).

▪ Clubs will be sent a Contract Request Form (CRF) via the Link@RIT.

▪ The Contract Request Form (CRF) must be filled out completely and returned to the Welcome Desk.

▪ EVR will send out the contract and a W-9 Form to your speaker/entertainer.

▪ If your contract includes Travel reimbursements – that must be included in the Contract Request Form information. The entertainer/performer should make their own arrangements and then be reimbursed for the expenses after the event or only given a lump sum stipend for travel.

▪ Payments to speaker/entertainer will be completed by the Club Financial Office once they receive the completed Contract, a W-9 Form, and a complete and signed EAF from your club

Contract Process Overview

Please Note - Never pay for a speaker, DJ, or Graphic Artist in advance and expect reimbursement. We cannot reimburse you. Service related payments such as these must go through Accounts Payable or Payroll and be paid directly to the vendor.

▪ If your club is Frozen or on Hold one or more of the following actions will be taken: ▪ Your club will not be able to make any financial transactions

via the Club Center

▪ Your club will be fined up to $25

▪ Your club may be withheld from utilizing other Club Center resources

▪ A Club may be put on hold for any of the following reasons ▪ Failure to return receipts and/VISA card to the Club Center.

▪ Failure to comply with any of the processes explained in this presentation.

▪ If your club is frozen or on hold, an appointment must be made with a Club Center Financial Staff to discuss getting your club unfrozen.

Frozen Club Accounts

If you need to see the Center for Campus Life Financial Staff, please make an appointments at the Club Center Desk. The Club Center is located in the Club Center Suite in the Campus Center (Bldg. 3) Room 1610

Club Center Monday-Friday: 8:30 am-4:30 pm

Phone: 585-475-4111

Email: crcccl@rit.edu

Address:

Rochester Institute of Technology Club Center

127 Lomb Memorial DriveRochester, NY 14623

Contact Information