SBA TREASURERS’ TRAINING2015-2016 Year

Contact Information• VP of Finance: Jeremy Buday- jbuday@law.gwu.edu

• Deputy VP: Mitch McDonald– mcdonald@law.gwu.edu• Deputy VP: Mary Khan– mkhan@law.gwu.edu

• Senate Finance Committee Chair• Calvin Lee– klee5@law.gwu.edu

• Audit Committee Chair• Max Weiss– mkweiss@law.gwu.edu

Student Organization Accounts• C Fund

• Allocation from SBA Senate Finance Committee• Spending Restrictions• No Carry Over

• R Fund• Fundraising and Ad Hoc• Carries over from year to year

*** MUST USE SBA ACCOUNTS FOR ALL TRANSACTIONS

Fund Usage I• Deposits

• SBA deposits annual C Fund distribution into account

• Groups can deposit money from fundraising events, activities, etc. into R fund

• MUST USE DEPOSIT FORM ON SBA PAGE• Stuart 213 Secure Box for Deposits• No Money can be kept overnight by groups

Fund Usage II• Payments

• Reimbursements• MUST USE FORM FROM SBA PAGE

• REQUIRED Documentation:• Original, Itemized Receipt (photocopies not acceptable)• For Cards:

• Original, Photocopied, or Online Printout of Bank or Credit Card Statement• For Checks:

• Copy of Front and Back of Cashed Checks• List of Attendees• Event Flyer

• Must submit within 30 days• Allow 3-4 weeks for reimbursement, pending approval from Audit Committee

Fund Usage III• Spending

• Domino’s Pizza Form• Form On SBA Page• Domino’s will bill group direct from account

• Direct Payments• Vendor must be in system• A check will be sent directly to vendor from GW• Needs to be at least 3 weeks in advance (2 weeks to issue check)

• P-Card• Must give at least 3 days notice• Must discuss circumstances with Jeremy

Restrictions• No Gift Cards

• No Funding of Political Campaigns

• C Fund Open to entire Law School• Not for Fundraising Expenses

• No Reimbursement for Car Rental Insurance or Gas

Miscellaneous Info• Tax Exempt

• Forms on GW Tax Page

• Branding• GW Logo use needs approval by University

• Contracts• DO NOT SIGN CONTRACTS• NEED TO BE APPROVED BY UNIVERSITY

• Intra-University Payments• Account can be billed directly

Finance Committee• Senate Finance Committee Chair

• Calvin Lee– klee5@law.gwu.edu

Annual Budgets• Process:

• Complete and Submit Budget Request Form to SBA Finance Committee (sbamoney@law.gwu.edu) AND supplemental documentation• Cover Letter• List of Prioritized Events & Brief Descriptions• Itemized List of Expenses for Events• Past Finance History

• Sign-up for a Hearing and Meet with Finance Committee

• Finance Committee Will Propose an Amount to be Funded to SBA Senate

• Senate Will Vote on the Request

Annual Budgets II• Optional: Appeals

• Finance Committee will Notify Student Groups before Senate Vote

• Complete and Submit Notification of Appeal to Finance Committee (sbamoney@law.gwu.edu)

• Present Request to Senate in Person on Wednesday, Sept. 9, 2015

Budget DatesTuesday, August 25, 2015 Mandatory orientation for all treasurers at 5:00 p.m. in LL102.

 

Wednesday, August 26, 2015 Mandatory orientation for all treasurers at 5:00 p.m. in LL102.

 Saturday, August 29, 2015 Budgets requests due by 5:00 p.m. to sbamoney@law.gwu.edu

NO EXCEPTIONS

Sunday, August 30, 2012 to Budget hearings with the Senate Finance Committee

Wednesday, Sept. 2, 2012 As available Wednesday @ Midnight (FCFS).

 

Friday, September 4, 2012 Proposed budget allocations released to individual groups and to the SBA Senate.

 

Sunday, September 6, 2012 Notification of appeal due by midnight to sbamoney@law.gwu.edu

Wednesday, Sept. 9, 2012 Budget appeals heard before the full Senate

Final appropriations bill goes before the Senate

C Funds will be available following Senate approval

Ad Hoc Funding• Purpose: New Events/Unforeseen Expenses

• Process:• Complete and Submit Ad Hoc Funding Request Form to SBA

Finance Committee (sbamoney@law.gwu.edu) along with Supplemental Documentation

• Meet with Finance Committee

• Finance Committee Will Propose an Amount to be Funded to SBA Senate

• Senate Will Vote on the Request• Optional: Present Request to Senate

OOPS Fund• For Emergency Situations• Explain “Emergency” in Detail to SBA Senate Finance

Committee• High Level of Scrutiny

Audit Committee• Audit Committee Chair

• Max Weiss– mkweiss@law.gwu.edu

Audit Committee

• Goals• Ensure honesty and integrity in the SBA Finance

process. • Hold student groups accountable for the money

allocated to them. • Track events and spending to improve programing for

the GW Law community.

Audit Committee: Annual BudgetFor REIMBURSEMENT requests

• Submit by email (to sbaaudit@law.gwu.edu) :• Copies of reimbursement forms• Receipts• Attendance records• Advertising material • A one-page explanation (optional) of the charges

• The audit committee will review the documents and inform the VP of Finances if issues arise.

For DIRECT PAYMENT requests• CC the audit committee on all communications regarding direct payment requests, and submit an

explanation of what the charges will be.

For all events costing over $250 • A copy of the of your group’s annual budget allocation, highlighted to show the relevant allocation.

IF PLANS CHANGE (e.g., you had a speaker scheduled, but she cannot make it anymore) and you want to spend your annual allocation on a different activity, you MUST submit an explanation to the audit committee (by email) TWO WEEKS AHEAD OF THE EVENT.

• If the cancelled event and the new event are similar (e.g., replacing a speaker, career panel to networking event, change conferences), the audit committee will likely approve the change.

• If the two events are substantially different (e.g., replacing a career panel with a two week vacation in Guam), the group will be referred to the Finance Committee to approve or deny the changed allocation.

Audit Committee: Ad Hoc FundingFor REIMBURSEMENT requests

• Submit by email (to sbaaudit@law.gwu.edu):• Copies of reimbursement forms• Receipts• Attendance records• Advertising material • A one-page explanation (optional) of the charges• A copy of the relevant ad hoc funding bill

• The audit committee will review the documents and inform the VP of Finances if issues arise.

For DIRECT PAYMENT requests• CC the audit committee on all communications regarding direct payment requests, and

submit an explanation of what the charges will be. Also submit a copy of the relevant ad hoc funding bill.

Leftover funds (the difference between the ad hoc allocation and the price of the event) will be collected by the VP of Finance.

The audit committee appreciates that plans change, and will therefore be somewhat lenient in terms of approving changes in annual budget allocations. However, ad hoc funding is meant to be used for its stated purpose, and therefore deviations from the purpose for which money was allocated will be strictly scrutinized. Significant deviation may result in punitive actions.

Audit Committee: Fundraising

• Submit (to sbaaudit@law.gwu.edu):• A copy of the deposit form• A one page explanation (optional)

• Fundraisers will be tracked by the audit committee. Remember, failure to hold an annual fundraiser will render a group ineligible for annual budgeting the following year. Therefore, if you do not submit your deposit form within the school year, your group will not be funded next year.

Thank You• Please feel free to reach out at any time

• VP of Finance: Jeremy Buday- jbuday@law.gwu.edu• Deputy VP: Mitch McDonald– mcdonald@law.gwu.edu• Deputy VP: Mary Khan– mkhan@law.gwu.edu

• Senate Finance Committee Chair• Calvin Lee– klee5@law.gwu.edu

• Audit Committee Chair• Max Weiss– mkweiss@law.gwu.edu