Spring REGISTERED STUDENT ORGANIZATIONS Financial Policies & Procedures Manual

Transcription

1 Spring 2014 REGISTERED STUDENT ORGANIZATIONS Financial Policies & Procedures Manual

2 FINANCIAL POLICIES AND PROCEDURES FOR REGISTERED STUDENT ORGANIZATIONS INTRODUCTION The University, by allowing Student Organizations to register on campus, permits them to conduct certain activities, one of which is the collection and management of funds for organizational programming. Consequently, any funds allocated to or collected by such Registered Student Organizations are University funds, subject to University Policies & Procedures. As part of the University registration procedure, all Registered Student Organizations and their officers or responsible members agree to abide by University policies governing student activities. Accordingly, the following policies/procedures have been established to govern all financial involvements of Registered Student Organizations. Resources for RSOs, Treasurers Manual (

3 Table of Contents Table of Contents... 1 FINANCIAL RECORDS... 2 Treasurer Responsibilities... 2 ACCOUNTING PROCEDURES... 4 Checking Accounts... 4 Deposits of Revenue (cash or check)... 5 Expenditures... 7 Dues... 8 Contracts (Agency, Bands, DJs, etc.)... 9 UNIVERSITY DEPARTMENTAL BILLING UD Internal Accounts UNIVERSITY GUIDELINES Events with Movies or Television Shows: Payroll Travel Reimbursements No-Show Fees CAMPUS SALES AND SOLICITATIONS Regulations Procedures ALLOCATIONS BOARD FINANCIAL REVIEWS Policies Violation of Financial Policies Policy on Conflict of Interest and Ethical Conduct

4 FINANCIAL RECORDS Treasurer Responsibilities 1. Every Registered Student Organization treasurer is required to attend a mandatory training session once per academic year. 2. Treasurer s Files: Every student organization is required to keep the following records in their treasurer s file: a. Ledger sheets (see Figure 1) b. Bank deposit slips b. Bank deposit receipts c. Official Student Involvement Membership/Dues Payment Record if applicable (See Figure 2) Figure 1.Sample Ledger Sheet treasurer s responsibility to list all the RSO financial activity. 2

5 Figure 2. Membership Form (found online at Equipment Inventory Every organization is required to submit an RSO Equipment Inventory Form regardless of whether the organization has equipment and/or instruments or not. This list shall include brand names, model and serial numbers, colors, and any other descriptive material that will serve to clearly describe the items. ANY RSO equipment needs to be authorized by the Student Involvement Office and maintained on University Property. This form is to be completed at the end of every academic year and can be found on Student Central at this link: 3

6 ACCOUNTING PROCEDURES Checking Accounts 1. The appropriate personnel from the Student Involvement Office will make arrangements with a commercial banking firm to establish checking accounts for Registered Student Organizations at the University. All the funds of Registered Student Organizations will be maintained in a University authorized checking account. 2. The University has designated the Senior Associate Director of the Student Centers for Student Involvement as the individual through which bank officials may direct on-going correspondence or communications regarding the accounts. 3. Receipts must be brought to the Student Involvement Office for processing. The treasurer must attach the receipts to a completed reimbursement form and place it in the bin located in room 015G Perkins. The signed, authorized check will be ready for pick up no later than a week from when it was dropped off. 4. RSOs can only submit reimbursements for expenses that occurred during the current semester. Fall expenditures can only be reimbursed in the fall semester. Spring expenditures can only be reimbursed in the spring semester. 5. Every RSO can request the standard budget of $800 once per academic year. This form can be found on Student Central at this link Checking account balances will be maintained at $10.00 or higher. 6. A completed ledger of expenses and deposits must be maintained in the club s treasury file. 7. The USC credit/debit card can only be used when a business will not accept payment by check. It can only be used for purchases in excess of $750. The only member of an RSO that can use the credit/debit card is the Treasurer. 8. RSOs cannot use Kickstarter, IndieGoGo, PayPal, GoFundMe, or any other intermediary to raise or collect money. RSOs looking to collect money should have checks sent to the Student Involvement Office or have debit/credit card payments processed by the Office of Student Development. 9. RSOs can only donate money to organizations designated with a 501(c)3 status by the IRS. RSOs cannot donate money directly to individuals or families. 4

7 Deposits of Revenue (cash or check) 1. All monies received, whether cash or checks, must be deposited into the University authorized checking or UD Internal account designated for the organization. All deposits must be made within 24 hours after receipt. 2. The total amount of the deposit must be entered immediately on the ledger. Revenues for different events should be deposited on separate deposit slips for easy reference. 3. All checks received for deposit by an organization must be endorsed with the group name "For Deposit Only" with the organization s checking account number within 1 1/2" of the top edge of the check. 4. To make a deposit: List all cash on the "cash line" of the deposit slip List all checks being deposited (check # and amount) Fill in the total amount of the deposit Be sure to indicate the organizations' name and account number if you are not using pre-printed deposit slips. 5

8 5. If you are making deposits containing a large number of checks for the same amount (i.e. dues) we recommend that you prepare your deposit in either the Event Services Office or Student Involvement Office. Also, you should have a listing of dues paying members including the amount of dues they have paid and their check number. 6. Deposits must be made at a Deposit Drop in Trabant or Perkins. See below for detailed instructions: 7. To use the Day/Night Depository on the first floor of the Trabant University Center: Have your deposit slip completed. Paper-clip or rubber-band the deposit slip, cash, and checks together. Make sure all denominations are clipped neatly together and are facing the same direction. Obtain a deposit bag (Trabant Center Event Services Office, Room 103) Insert deposit in the bag and seal it. Remove the tear-off strip which bears the deposit bag number and write the date and dollar amount of the deposit on the strip. Retain this strip and bring it to the Student Involvement Office after your deposit has been made. Sign key list to obtain deposit key. Use key to open the Day/Night Depository located in the front lobby of Trabant. Then, drop your deposit bag in. Re-open the Depository to ensure your deposit bag has gone down the chute. The deposit should be posted on the ledger kept in the treasurer s file. 8. To use the Day/Night Depository on the first floor of the Perkins Student Center Have your deposit slip completed Paper-clip or rubber-band the deposit slip, cash, and checks together. Make sure denominations are clipped neatly together and are facing the same direction. Sign out a deposit bag by filling out the deposit bag list (Perkins Center Events Services Office, Perkins Room 107) Complete information on the bag, insert the deposit, and seal it. Remove the tear-off strip which bears the deposit bag number and write the date and dollar amount of the deposit on the strip. This is to go in your file in the Student Involvement Office after your deposit is made. Drop deposit bag in Day/Night Depository (located near the information desk in Perkins) Re-open the Depository to ensure your deposit bag has gone down the chute. The deposit should be posted on the ledger kept in the treasurer s file. 6

9 Expenditures 1. ALL PAYMENTS FOR EXPENSES WILL BE MADE BY ORGANIZATION CHECK. Under no circumstances may cash or checks payable to the organization be used to pay a bill of the organization. A. Expenses are to be recorded on the checking account ledger. Items to be entered for each transaction are: date, payee, and purpose of the expense. Deduct the amount from the prior balance in the balance column and enter the new balance. Reference Figure 1. B. Treasurers must provide all original bills, receipts, and invoices to the Student Involvement Office for payment. Copies are not permissible. Treasurers have 30 days from the date of purchase to bring the receipts to the Student Involvement Office. C. A reimbursement form must be completed for all reimbursements. 2. Members of an organization may not incur financial obligations which will bind subsequent members to debts during subsequent fiscal years. Exceptions may be made only by the Senior Associate Director for Student Involvement. 3. Reimbursements for the current, fiscal year must be completed in time to clear the bank by June 30th. 4. Receipts must be provided for all reimbursements. 5. One check will be written to reimburse one person for multiple receipts. 6. Receipts from restaurants serving alcohol must be itemized. You should inform the server of your requirements prior to ordering. The charge card receipt will only show meal total and tip. 7. CLUB FUNDS CAN NOT BE USED TO REIMBURSE FOR ALCOHOL! 8. Executive boards are prohibited from using the standard allocation or club dues to pay for executive meals. Executive Boards may hold banquets at the start and end of the school year for leadership but no more than a total of $200 of the Standard Allocation can be used on executive banquets. Failure to adhere to this policy will result in the members either not being reimbursed or a poor financial review. RSOs are permitted to use deposited revenue and donations to pay for such banquets. RSOs are permitted to use its' Standard Allocation to pay for food expenses at events open to the entire campus. However, clubs are encouraged to require payment to better offset club expenses. 9. Receipts for Gas: Receipts submitted for reimbursement of travel expenses must include a mandatory trip form, gas receipts, and mileage information. RSOs will not receive 100% reimbursement of gas expenses unless it is proven that the mileage travelled equals the gas used or if the RSO traveled in a vehicle from Motor Pool. 10. Gift Cards: If RSOs purchase gift cards as gifts or prizes, the treasurer must provide the name and student ID # of the student receiving the gift card. Gift cards cannot be used in lieu of 7

10 RSO checks for payment and RSOs cannot purchase gift cards that act as credit cards (American Express, Visa, etc.). Dues Treasurers Resources ( Dues collected must be recorded either on the official Student Involvement Office Membership Form or on the form provided to the regional, national, or international organization, if applicable. A copy of the form must be kept in the club s treasurer s file. Items to be recorded are as follows: date, name, amount collected, type of payment (cash or check), and dues amount required per member per year or semester and amount due to regional, national, or international chapter. Dues to a local, regional, or National chapter cannot be paid directly from the standard budget. Any RSO required to pay dues must collect enough money from its members or fundraisers to cover dues. 8

11 Contracts (Agency, Bands, DJs, etc.) Treasurers Resources ( When your group is working with an outside agency that is providing a service; fund-raising activity, entertainment, speaking engagement, etc., it is important that a contractual agreement be made between your organization and the outside agency. The Student Involvement Office provides Contract blank forms which you can use to make a contractual agreement with an outside agency or artist. If the fee is under $1,000, a RSO check can be used. If the fee is $1,000 or more, payment must be processed through the University Procurement Office. We will also need the artist to complete a UD W-9 tax form. A minimum of 4 weeks is required for the check to be processed and ready. Be responsible and plan accordingly in order to have the check ready for the artist in time. The final contract must be reviewed and approved by the Senior Associate Director for Student Involvement or designee prior to submitting to the outside agency or artist You cannot sign any contracts. None of your group members can sign any contracts. The Artist Contract Blank should be used when paying for the services of the DJ, Band, Speaker, or other performing artist. The Co-Sponsorship Blank should be used when the organization is sharing the expenses of an event with another organization or has been promised monetary support from another organization, campus department, or other source. The Vendor Contract Blank should be used when an organization is sponsoring an outside vendor on campus and will be taking a portion of the revenue that is raised by the Vendor. The Instructor Contract Blank should be used when an organization is paying for the services of an instructor. 9

12 RSO s cannot sign: Artist Contract RSO s can sign: Co-sponsorship Contract Vendor Contract 10

13 UNIVERSITY DEPARTMENTAL BILLING UD Internal Accounts 1. UD Internal account numbers will be maintained for each organization to accommodate billing by University departments. The Student Involvement Office has the internal account numbers assigned to each organization and must authorize use of your internal account. 2. UD Service departments, Request Services/Equipment for Campus Events ( on campus will assess charges for services rendered against this internal account after the service has been provided. The following UD departments will bill in this manner: Media Services Dining Services Facilities (Movers, Custodians, Electricians, Plumbers, Grounds) Motor Pool & UD Transit Public Safety Quick Copy & Graphic Communications 3. UD Internal Account Statements are generated monthly and only when services have been performed and billed. The Student Involvement Office receives the statements to review. The Student Involvement staff will notify the treasurer when charges occur. 4. Payments for UD services will be made by check payable to the University of Delaware by the staff of the Student Involvement Office. The Notice of Bills Due form will serve as an explanation for expenditures. When the treasurer receives the Notice of Bills Due form in their treasury file, they must update their ledger. 5. The Senior Associate Director for Student Involvement or designee may investigate if problems arise in transactions involving a University service department and a Registered Student Organization. 6. All Registered or Chartered organizations must have enough funds to pay all debts to the University within 30 days. If their accounts become delinquent, then University privileges and/or recognition may be suspended. The Student Involvement Office will place notices of bills due in the organization s treasurer s file informing them of the bills received. NOTE: Some service departments do not charge for the delivered services immediately. Funds must be maintained to cover future bills. 11

14 UNIVERSITY GUIDELINES Events with Movies or Television Shows: Student organizations who want to have an event in which they show a movie can only do so through obtaining public showing rights through a college distributor. Regardless of whether your event has an admission charge or is free; regardless if the event is open or just for invited guests; and regardless of whether or not you own the movie or DVD, it is a violation of federal copyright law to show a movie on campus without securing the rights. Payroll Registered student organizations funded totally or partially by the University are discouraged from using any of their funds to reimburse individuals for work done for the organization. If, however, an organization believes it is essential to pay employees, prior approval must be granted by the Senior Associate Director for Student Involvement or designee and they will be paid through the University s Payroll System. Travel Reimbursements The use of personal vehicles by students for travel for recognized student organization purposes is strongly discouraged. If a student drives his/her own vehicle for recognized student organization purposes, then the student assumes the risk associated with the vehicle use. Although it is normally the policy of the University not to utilize University funds to cover the cost of student travel there may be occasions that might warrant an exception to this policy. If a Registered Student Organization believes an exception should be made, the following policies and procedures must be adhered to: A. Money to reimburse student travel must have been budgeted by the organization and approved by The Allocation Board or the Senior Associate Director for Student Involvement. B. The following travel limitations are the maximum amounts that may be reimbursed according to University policy. Each request, however, will be considered on its own individual merits within the funds available. 1. Before taking a trip by automobile, approval from the Senior Associate Director of Student Involvement or designee must be obtained. (See Policy and Procedures for Student Organizations use of University Vehicles, Travel by RSOs ( If a University vehicle is used, mileage will be charged to the student organization: tolls and parking may be reimbursed to the driver. Receipts must be obtained. Credit cards for gasoline may be obtained at Motor Pool and must be used if gasoline is needed. When signing the receipt for gasoline, the individual should sign his or her own name and indicate the name of the organization he or she is representing. Receipts for Gas: Receipts submitted for reimbursement of travel expenses must include a mandatory trip form and include mileage information. RSOs will not receive 100% reimbursement of gas expenses unless it is proven that the mileage travelled equals the gas used or if the RSO traveled in a vehicle from Motor Pool. 12

15 2. Hotel accommodations: It is expected that minimum hotel rate accommodations will be requested, taking advantage of any convention or educational discounts. 3. Meals: Meal costs must be itemized and receipts must be attached. NO REIMBURSEMENT FOR ALCOHOLIC BEVERAGES 4. Miscellaneous Luggage, telephone, and service charges should be itemized on the request for reimbursement, not included as part of the hotel bill. Taxi, bus and subway charges should be itemized. Registration fees must be supported by a receipt 5. Arrangements for meals for candidates or official guests visiting the University should be made utilizing University facilities. No-Show Fees If your organization is no longer going to need a room reserved by the organization, an event cancellation form must be completed or the organization will receive a no show fee! Complete the online event cancellation form in order to cancel an event. Cancellations must be made by 3:30 p.m. on the last business day before the scheduled event or charges will be incurred. The form can be found at the following address: Reserve a Space on Campus ( CAMPUS SALES AND SOLICITATIONS NOTE: All funds derived from on-campus sales/solicitations, admissions, charges for events, and any funds derived from programs and services rendered or sale of goods must be deposited in the organization's University supervised checking account or Internal account. Deposits of these types of revenue require a Sales & Solicitation form (see sample right). Reference the Sales & Solicitation Policy section of this manual for further information. 13

16 Regulations By definition, sales/solicitations includes solicitation of information, membership, admissions, charges for events, donations, and any funds derived from programs and services rendered or sale of goods. 1. All on-campus sales/solicitations by Registered or Chartered Student Organizations, Fraternities, and Sororities must be authorized by the Associate Director of the Student Centers for Event Services, Room 103 Trabant University Center or Room 107 Perkins. Guidelines for granting or refusing authorization for sales/solicitations are available from the Associate Director of the Student Centers for Event Services. A student organization sales/solicitation form must be completed before the authorization process is finalized 2. All funds derived from on-campus sales/solicitation must be deposited within 24 hours to the organization's University internal account or University supervised checking account. After expenses are paid from either account, the remainder of funds may be used only to support the on-campus programming activities of the organization. (Exceptions are made in the case of funds received as part of a religious worship service and in the case of solicitations for nonreligious, off-campus charitable organizations as defined by the Internal Revenue Service.) 3. Registered or Chartered Student Organizations may not conduct sales/solicitations on a "door-to-door" basis in University facilities. 4. Certain fund-raising activities are regulated by the State of Delaware such as the sale of food and games of chance. The sale of food that is not commercially prepared and packaged is prohibited by state law. If considering doing an event involving games of chance, please contact the Student Involvement Office before the event. NOTE: ALL GROUPS MUST FILL OUT A SALES/SOLICITATION FORM IN 103 TRABANT OR 107 PERKINS WHEN COLLECTING FUNDS ON CAMPUS. 5. Off-campus individuals or firms are not permitted to conduct sales/solicitations on campus except when sponsored by a University department, registered or chartered student organization, or a Community Council. Specific criteria for the authorization of such sales are available from the Associate Director for Student Centers for Event Services. 6. Charted fraternities and sororities must obtain authorization from the Associate Director of the Student Centers for Event Services for sales/solicitation conducted on campus outside its own houses. In-house sales/solicitations procedures should be determined by negotiations between the local chapter and its Alumni Housing Corporation. 7.Registered or Chartered Student Organizations desiring to use a dining hall as the site for sales/solicitation must obtain authorization from both the dining hall manager and the Assistant or Director of Dining Services as well as the Associate Director for Student Centers for Event Services. 8. Authorization to sell on campus does not constitute an endorsement by the University of either the product sold or service rendered. For information about these activities contact the Associate Director for Student Centers for Event Services. 14

17 9. Failure to comply with the provisions of the Sales/Solicitations policy could result in the loss of organizational recognition and possible referral to the Office of Student Conduct. All registered or chartered student organizations may not engage in off-campus fund raising activities without the permission of the Office of Student Involvement. All Registered or Chartered organizations must pay all debts to the University within a reasonable period of time. If their accounts become delinquent, then University privileges and/or recognition may be removed. Questions regarding the sales/solicitation procedure should be addressed to the Associate Director of the Student Centers for Event Services. All policy interpretations will be made by the Office of Student Conduct. Procedures Consistent with the University's Table/ Kiosk Use Policy, the following are the general procedures that registered student organizations must follow in order to gain approval to conduct a campus sale or fund solicitation: 1. Registered Student Organization or Chartered Student Organization representatives must apply to the Associate Director of the Student Centers for Event Services (103 Trabant Center) for permission to conduct a campus sale or fund solicitation. Organizations desiring to charge admission at programs or events will be required to have a space reservation form. If the organization desires to conduct a general (public) fund solicitation, the organization will be required to complete a space reservation form which will include the preferred location and proposed dates. 2. When the nature of the sale or solicitation is determined, the Associate Director of the Student Centers for Event Services or designee will instruct the organization representative regarding appropriate accounting procedures and will provide detailed guidelines regarding the manner by which sales and funds solicitations must be conducted. OFF CAMPUS SOLICITATIONS CORPORATE SPONSORSHIP/APPROACHING BUSINESSES FOR FUNDING Registered Student Organizations ARE NOT PERMITTED TO APPROACH CORPORATIONS, BUSINESSES, COMPANIES, ETC for the purposes of seeking funding, sponsorship, underwriting, or any type of financial solicitation. Registered Student Organizations may approach Main Street vendors for gift certificates, prizes, or fund-raising activities where a percentage of the vendor s sales on a given day are donated to the RSO. If a Registered Student Organization would like to solicit other types of businesses then the following procedures must be followed: 15

18 AUTHORIZATION Interested RSOs must submit a written request to the Student Involvement Office detailing the following information: Purpose of solicitation Who will be solicited? Timetables for solicitation Who is responsible for creating and producing the solicitation? How and by whom the solicitation will be made If approved by the University Student Centers, the proposal will move forward to the Vice President of University Development and Alumni Relations for final review and authorization. The Office of University Development must authorize all solicitation on behalf of the University and its affiliated programs, including student organizations. If the solicitation request is authorized, University Development's senior leadership will determine the appropriate solicitation strategy, including priority, timing, processing and acknowledgement procedures, and any necessary modifications. The Office of University Development will have final approval of all letters, texts, scripts, and other components related to such solicitation. Departments, organizations, and individuals are prohibited from using the University of Delaware's name or trademarks to solicit support without written permission of the Office of University Development. The creation and solicitation of alumni dues by any of the University's colleges, departments, or programs are prohibited. For purposes of this policy, solicitation is defined as all requests for support directed to any person or organization, including alumni, students, friends, employees, parents, corporations, foundations or associations for the purpose of generating gifts for the University and its affiliated programs. This includes, but is not necessarily restricted to, any solicitations conducted via mail, phone, newsletters, personal visits, or electronic means. 16

19 ALLOCATIONS BOARD The Allocations Board is composed of the following members: Professional Advisor Salaried Staff Assistant Six to eight matriculated students, one of whom serves as the Financial Controller The Board is responsible for providing funding to approximately 350 Registered Student Organizations. There is only a limited amount of funding available on a yearly basis. In order to request funding from the Allocations Board, a supplemental form must be completed. There are 4 types of supplemental forms: Event Supplemental o An organization may apply for this type of funding in order to support an on-campus activity aimed at undergraduate students that falls under the mission or purpose of the applying organization. This event must be open to anyone. Series Event Supplemental o Used when a series of events is being asked for (i.e. lecture series, film series, band series). Capital Supplemental o Used for major expense items that are not needed yearly and will be handed down from year to year. Must be stored on campus. Ex: Gospel Choir Robes Conference Supplemental o The Allocations Board will not fund food. All RSO s are limited to (2) conference requests per academic year (one per semester).the Standard Allocation for each request is $ Conferences should be within the mission of the organization and conference registration must be provided with your request. Please see the Allocation Board Manual for detailed information, restrictions, and FAQ s. Visit for forms: 17

20 FINANCIAL REVIEWS Policies 1. The staff from the Student Involvement Office may perform spot reviews from time to time on the financial records of all Registered Student Organizations. The Senior Associate Director for Student Involvement or designee has the authority to call for a financial review of any Registered Student. The spot reviews may take place at such time and with such frequency as may be deemed advisable or necessary for the maintenance of proper accounting standards. 2. The results of these reviews will be shared with the Executive Director of the Student Centers and The Allocations Board. Violation of Financial Policies 1. A financial review that is deemed in the "poor" category will result in a 15% reduction of the following year s Standard Allocation. If there is an excessive abuse or obvious violation of appropriated funds then a separate hearing will be conducted by the Senior Associate Director for Student Involvement or designee to determine the extent of the penalty. The possible penalties are: suspension of funding privileges, repayment of money, and immediate retraction of currently allocated money. 2. Any individual(s) may request a financial review to be performed on the record keeping of a Registered Student Organization. The request should be submitted to the Senior Associate Director for Student Involvement or designee to determine whether an audit is warranted. 3. If the review is performed and irregularities are found in the record keeping or if any of the above policies have been violated, the organization will be contacted. The Senior Associate Director for Student Involvement or designee will decide what course of action is appropriate - a conduct hearing, an administrative hearing, or civil action against the organization or individual members responsible for the violation. 4. If legal or disciplinary action becomes necessary, the organization in question, depending upon the disposition of the case, may appeal to the appropriate judicial body, or administrative official, for further consideration of its case. 5. Clubs that receive a capital supplemental but fail to submit an Equipment Inventory Form at the end of the year will receive a poor review. Furthermore, RSOs that purchase equipment with standard allocations funds and do not submit an Equipment Inventory Form will also receive a poor review. Policy on Conflict of Interest and Ethical Conduct Members of the University community are expected to maintain at all times relationships and practices in their University activities that are legal, ethical and morally correct. Further, it is expected that students with responsibility for the administration of University funds, property, or services will conduct University business and their private affairs that might impinge upon the University in a manner that will stand the sharpest scrutiny by those who would seek to find wrong doing. 18