sport club financial workshop september 2013. your best financial friend o denise oncay o...
TRANSCRIPT
Sport Club Financial Workshop
September 2013
Your Best Financial Friend
O Denise OncayO [email protected] Office Hours 8am-
4pm, Mon-FriO Best to
communicate in-person
Your Club’s AccountO Part of Rec Center Account, not SGA-
affiliatedO No withdrawals, checks or credit cards
O Maintain your own budgetO Our Secretary Denise has official account
record, though is not immediately updated
O Tracking your dues (us) and expenses (you) through GoogleDoc
O Plan a budget for the year
Treasurer Roles• Collects dues or assures that dues are paid• Maintains records of receipts and
expenditures• Submits reimbursement requests or assists
other club members in doing so• Submits all invoices in prompt manner for
payment• Submits officials’ paperwork when
applicable• Assists in any other financial matters as
needed
Googledoc
How to Plan a BudgetO Simple Math! Money in vs. Money outO Plan it out for the yearO Money In: Fundraisers, Donations, Dues
Payments, Allocation (Rec Center Money), Carry-Forward, Apparel Sales
O Money Out: Officials Payment, Travel Reimbursement, League Dues, Tournament Fees, Equipment Purchases, Uniforms, T-Shirts, Coach Payments, Etc…
O Other Money in or Money Out?
Ice Hockey Budget
How to Pay DuesO All deposits go through the Main OfficeO Pay via cash, check, credit, Boro BucksO Complete a dues slipO Obtain a receiptO We will update your Dues GoogleDocO Paying individually vs. collecting and paying in a
lump sumO Hold a meeting here to collect duesO Your responsibility to follow up with people about
not paying duesO Same process for depositing fundraising moneyO This money is not immediately available
Sport Club Dues Payment Sheet
How to ‘Withdraw’ Money
O At no point do you actually take physical money from your account
O We can pay invoices, place orders, and submit reimbursements, but you do not receive cash from us
O How clubs have used cashO Collecting and paying officialsO Immediate ordersO Travel costs
O Not an immediate process
Fundraising through Rowan Foundation
O Fundraising SheetO Goes to Foundation, then transferred
into your account at the RecO Tax Deductible for the DonorsO Beneficial for clubs with Alumni
bases, or asking family for donationsO Contact Gary if you would like to set
one of these up
Other Fundraising Ideas
O Apparel OrdersO Unified Sports, Men’s LacrosseO BSN Team Shop
O Bake SalesO Wendy’sO LandmarkO Hosting Tournament
Placing an order with a vendor
O Ask us early on in the process if they are ‘approved’O If not, we need a W9 and a New Jersey Business
Registration CertificateO Obtain an invoice from the vendor
O Have them email you a copyO Detail what it is you are orderingO Copy me onto communication
O Timeline for paymentO Does not happen immediately, usually several weeks
O University Purchase Orders (PO’s)O Tax Exempt Status, location of forms
O Can’t get reimbursed for tax!
Approved Vendors?O Any vendor (or business) that ANY club or
ANY department on campus has ever used is already in our system
O If they have not been used by Rowan before, we need a W9 and New Jersey Business Registration Certificate to do business with them
O Out-of-state vendors are ok!O If they refused to do the NJ BRC, we can’t
pay out of your account, but you can pay out of pocket and get reimbursed
Commonly Used Vendors
O ACE Screen PrintingO Will EnterprisesO BSN SportsO Gopher SportsO HarrowO Anaconda Sporting GoodsO BoathouseO Gloucester County AwardsO Art Graphics NJO Others you’ve used?
Reimbursement Process
O Used when it’s not convenient or possible to have us submit payment for you (due to a time constraint, or an unapproved vendor)
O What we’ll needO Original Receipt
O Show how you paid, ex. ‘Credit Card ending 1234’O Copy of Credit Card (or copy of check, prefer you don’t use cash,
makes it more difficult to track and verify)O Any other supporting documentation (website print off, registration
form, brochure, anything with the prices documented on it)O Reimbursement Request
O Address/Banner/Explanation
O Timeline for reimbursement, somewhat out of our controlO Check sent to youO Do your part to have everything in on timeO Who can get reimbursed?
O Anyone, as long as we have the proper documentation
Reimbursement Request
Paying OfficialsO Non-Student Officials
O Personal Service Contract; you (or your league) determine terms of agreement (how much money)
O I-9 if they have never worked for Rowan beforeO Sign and DateO Get Contact Info
O Student OfficialsO Student Special Assignment ContractO I-9 if they’ve never worked for RowanO Sign and DateO Contact InfoO Check mailed to them, not in addition to existing paycheck if they are
employed on campusO Timeline for paymentO Paying cashO None of this is applicable if your association covers your officials’
costs
Paying Coaches/Trainers
O Clubs have the ability to pay coachesO Will not receive additional funding from usO Need to show plan for where this money will come from
(Raising dues, extra funding, using Rec-allocated funds)O Stipend agreement, paid once per year or once per
semesterO NOT considered university staff members, don’t receive
benefitsO Signed Code of Conduct agreement from President,
Coach and Sport Club DirectorO If you decide to terminate coach’s agreement, notify us
ASAP so we can stop paymentO MOST CLUBS DO NOT PAY COACHES AND ARE NOT
REQUIRED OR ENCOURAGED TO DO SO!
Travel Costs/Reimbursement
O Must have submitted a travel itinerary and travel reimbursement plan in order to receive reimbursement
O Gas vs. MileageO BusO Hotel (Motel 6 discount)
O Inform visiting teams of our hotel on campusO MealsO TollsO For small trips, easier to pay out of pocket or collect
money from people and use allocation for other thingsO Alcohol not allowed
How Allocation Was Determined
O Tiers and MultipliersO Points for DataO Total Points out of 60,000O Points x Multiplier x Point ValueO DeductionsO Total money ended up less than
60,000, so made some changes
Points Awarded For…O Amount of MembersO Years of ExistenceO League DuesO Member DuesO Competitive ScheduleO FundraisingO National CompetitionO Facility UseO Community ServiceO Website
DeductionsO Missed Meetings
O TrainingO MonthlyO End of Semester or End of Year
O Missed PaperworkO ConstitutionO Semester ReportO Annual Report
Funding Model Snapshot
Changes for 14-15 Allocation
O Years in ExistenceO 1pt- 1-3 YearsO 3pts- 4-6 YearsO 5pts- 7+ Years
O League DuesO $0- Zero PointsO Up to $100- 1pt. O $100.01- $500- 3pts. O $500.01+- 5pts.
O Member DuesO $0- Zero PointsO Up to $100- 1 pt. O $100.01-$300- 2pts.O $300.01-$500- 3pts.O $500.01-$1000- 4pts.
O >$1000- 5pts. O Comptetitive Schedule/TripsO National/Regional Comps
O No Travel- 0 pts. O Up to 1 hr. – 1pt. O Up to 3 hrs. – 3pts. O Regional Qualifier- 4pts.O National Qualifier- 5pts.
O No More Club Website Pts.
O Facility UsageO 0pts.- On-Campus OnlyO 2pts. –On/Off UnpaidO 3pts. –On/Off PaidO 5pts. –Off Paid Only
End of the YearO Carry-ForwardO Don’t need to use your money, but
need to show usage of itO Plan over the summer for next year,
place orders early
ProfPoints
Next Officer MeetingsO October 21 or October 24O Risk Management Focus
