Student Organization Finance Seminar

Accounting Made Easy

September 13, 2013

Kristin Luecke

Rebecca Birkner

Welcome

Why Are You Here?

• Student Organizations with University Accounts

• Student Organizations applying for Activity Fee Money

Need Help With Funding?

Organizations can apply for funding through the Student Activity Finance Board

Any RSO can apply for funding

Fall Deadline: September 12, 2014

http://studentlife.mst.edu/organizations/studentactivityfeefunding/

Student Activity Finance BoardThe External Funding Committee (EFC)

Student Activity Finance Board (SAFB) directs and controls

student fees. SAFB allocates the funding that RSOs apply for

and recommend how organizations spend the funding.

• Club Appropriations

• Campus Events

• Professional Projects

• Non-Varsity Sports

Bi-Annually Annually

Can I Spend Money?• You must have the money before you spend it

• You must communicate with Student Life before you spend it

• University Money

• University Property

Funding Process for all External Funds

• File application– Student Life Website

• Schedule interview with SAFB Chair/Director• SAFB makes recommendations• Recommendations presented to Student Council

Executive Board• Recommendations presented to the Student Council

General Body• Student Council Body Appropriates Funds• Funding available to be spent 48 hours after

Club Appropriations

• Requirements to apply– Already a Recognized Student Organization– Student Council Representative

• Application Deadline: The Friday following the Officer Summit, September 12 at 4:00 p.m

• Late Applications will not be accepted!

Club Appropriations – NOT FUNDED

• Any expense judged to be the responsibility of a University department or of individual members of the organization including but not limited to conventions, trips, food, and refreshments for regular meetings

• Deficits incurred by the organization• Any expenses incurred prior to the approval of

funding

Club Appropriations – NOT FUNDED

• Items for a specific individual• Items for resale• Fundraisers• Gifts or additional compensation for visiting Speakers• The purchase of alcohol• Off-campus activities if adequate facilities are

available on campus• Any requests for computer software, computers, or

components thereof

Club Appropriations Questions?

Campus Events

• Requirements to apply– Already a Recognized Student Organization– Not Funded as a Professional Project– Not Funded as a Non-Varsity Sport– Not Funded by Direct Student Funding– Must be a RECURRING (Annual) Event

• Applications deadline the Friday after Officer Summit, September 12 at 4:00 p.m.

• Late Applications will not be accepted!

Campus Events – Important Rules

• SAFB will fund a maximum of 70% of the event– Do NOT assume you will get funding just because

you apply, the fund always runs out of money– It is your responsibility to follow-up on your

application if you do not hear anything from the board regarding an interview

• Do NOT use the fund as a crutch– Each event should become more self-sufficient

with every recurrence

Campus Events – NOT FUNDED

• Any expense judged to be the responsibility of a University department or of individual members of the organization including but not limited to conventions, trips, food and refreshments for regular meetings

• Deficits incurred by the organization• Any expenses incurred prior to the approval of

funding

Campus Events – NOT FUNDED

• Items for a specific individual• Items for resale• Fundraisers• Gifts or additional compensation for visiting Speakers• The purchase of alcohol• Off-campus activities if adequate facilities are

available on campus• Any requests for computer software, computers, or

components thereof

Campus Events Questions?

Equipment and Contingency Fund

• Applications accepted at anytime• Application Process– Write a letter to SAFB stating why the funding is

needed– Include a Current year budget– Include any budgets/applications for external or

direct student funding– Turn in the above items to the current SAFB Chair

Kristin Luecke(kmlm98@mst.edu)

Equipment and Contingency Fund Rules

• Items requested must:– Cost more than $5000• Exceptions must be approved through SAFB before

application is considered

– Last a MINIMUM of 10 years– Be a proven NEED not a want– Required to have a minimum of 2 quotes for items

Equipment and Contingency Fund Questions?

The “Don’ts”• Don’t try to spend money you don’t

have

• Don’t try to transfer money from a campus account off-campus

• Don’t purchase alcohol or gift cards

• Don’t charge at businesses without a purchase authorization

The “Don’ts”

• Don’t Inflate the Budget– Other organizations could use the money you

waste

• Don’t ask for speaker funding– Unless you check to see if campus can get the

speaker for free

• Don’t ask money for Flyers – Student Council will print them for FREE!

Stop Telling Me What I Can’t Do. Tell Me What I Can Do!

General Information For Student Organizations • Paying for campus services

• Awards/Scholarships/Prizes

• Contracts/Performance Agreements

• Insurance

• Purchasing

General Information

• Equipment• Reimbursements• Travel• Income• Deposits

Purchasing CardsRentalCateringAgreements/ContractsTaxes

Let Us Help• Include Your Advisor• Planning• Goal Setting• Budgeting

Department of Student Life218 Havener Center

573.341.6771stulife@mst.edu

http://studentlife.mst.edu/

Contact Information

Kristin Luecke, SAFB Chair kmlm98@mst.edu

Caitlyn Schottel, EFC Chair cmszr3@mst.edu

Rebecca Birkner, RSO Accounts rrskbx@mst.edu

Tina Reagan, Student Services Advisor tinam@mst.edu

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