New Club Leaders Clubs and Finance Training. 5 th April 2017

Size: px

Start display at page:

Download "New Club Leaders Clubs and Finance Training. 5 th April 2017"

Frank Fox
5 years ago
Views:

1 New Club Leaders Clubs and Finance Training 5 th April 2017

2 Agenda What is C&F? Sources of funding Budgeting process C&F Guidelines CampusGroups and Ad hoc funding Reimbursements Next Steps

3 Clubs You were handpicked by the Class of 2017 for being key contributors! Unique position to be able to shape the MBA experience for your classmates and Class of 2019 Clubs support the variety of goals and aspirations that make this place great Think about events like all the great Closing Bells, the great talks you ve attended, the Hockey Game, Tight & Bright, next week s World Cup all made possible by clubs SOM this year is what we make of it and this is incredibly exciting Industry Social Cultural and Affinity Sports and Recreation Administration Clubs Academics

4 520 events and meetings planned last year

5 98 speakers

6 The average SOM student belongs to 13 clubs

7 What is C&F? Alex Royalty Fabian Katrak

8 What is C&F? Handle the overall budget for all club and student run extracurricular activities at SOM Work with AASL, Business Office, CampusGroups Host Club Leader Councils (CLC) every quarter Your (the Club Leaders) representative on Student Government

9 Club Accounts Club Account Internal Administered by Student Government Clubs and Finance Committee CampusGroups Returns to SOM Central Account at year end External Ticketing through CampusGroups, website or at the door 3% deducted from proceeds for credit card fee Stays with club from year to year Sponsorships

10 Student Activity Fee MBAs, MAMs, Exec MBAs, HCM Clubs S.I. Lab Closing Bell $ $ $ Cohorts Speaker Events Voices Student Life April Foolery Cultural Events C&F Central Fund Student Government Social Events Cohorts

11 The Budget Total Budget: $265K Student Life (Closing Bells, Events, ONE SOM, 4035, April Foolery etc.) : $100k Clubs (Total requested amount over $312K): $135K Graduation and Surplus: $30K Spring Semester: Ad-Hoc Submissions Remaining Balances? CampusGroups and Reimbursements

12 The role of the Budget Officer The Budget Officer is personally and financially accountable for the club's budget and all financial transactions He or she ensures the club does not incur a deficit and that sound and ethically responsible business practices are employed in all financial activities The budget officer is responsible for tracking all receipts and expenditures throughout the year and reconciling these with electronic statements of the club's account status, provided regularly by the SOM Business Office Maintain an existing balance offline Each club must develop a budget which is submitted to the Clubs and Finance Committee as part of the Club Recertification process

13 Club Leadership Transition Timeline April 6 28: Club Recertification Meetings April 5 th : Club Leader Training 2 April 19 th : Major Event Leader Training May 1 st : Major Event Dates due to AASL May 4 th : Closing Bell Applications April 3: Club Leader Training 1 April 21 st : Welcome Weekend Club Fair Shadow Outgoing Leaders May 1 st : Club Budgets due to C&F

14 Submitting budgets Entering budget into CampusGroups Go into your club s Money tab; Select Budget; Select current budget phase ( Budget) Create Budget Event

15 Ad hoc requests Ad hoc funding requests must be submitted at least one week prior to the event but the earlier the better! Resources: finance funding guidelines/ forms/

16 Budget Submission Demo

17 General funding guidelines C&F funds are to be used towards events that foster the mission of the club Events using C&F funds must be open to the entire student body Have a corresponding CampusGroups Event Spending is specifically encouraged for: on campus speaker events and workshops Cultural and community events Spending is prohibited for: Internal planning meetings, equipment, software, travel Yale Policies No hard alcohol No gifts for Yale affiliates

18 General funding guidelines Food and Event Funding Food: $9 per person Event must be open to the entire student body Speaker gifts Alcohol Guidelines All events held on Yale University property or use Yale Funds must adhere to the Yale SOM Alcohol Policy, including having a bartender serve all alcohol Events must be pre-budgeted Budget for time, # people, and quality of beer Assume 500 per 50 people for 2 hrs Other Items Printing costs are funded at standard on-campus rates: $0.04/print, $0.10/copy Items Not Funded Equipment -- e.g. sports, books, software Weekly recurring events e.g. executive meetings and regular member-only meetings All conference both external and those run through SOM Speaker travel, accommodations, or speaker fees/honorarium Student travel End of year parties Hard Alcohol

Common naughty purchases The following are not

reimbursed: Membership fees for clubs (e.g.

19 Common naughty purchases The following are not allowed under Yale University and/or Yale School of Management policy. Students paying for any of the following will not be reimbursed: Membership fees for clubs (e.g., Yale Club of NYC, Costco, BJs, etc.) Alcohol other than wine or beer Gifts for students or faculty

Account to be charged (including internal or external) Purchase Order: Above $2000 Credit

20 How to pay? AASL Purchasing Card: Vendor Contact Information Amount to be paid What is being purchased Account to be charged (including internal or external) Purchase Order: Above $2000 Credit Card not accepted Vendor tax information and an estimate needed Reimbursement: Within 10 business days SOM portal Itemized receipt, proof of who paid, budget officer approval PTAEO

21 Reimbursements The Student Reimbursement Form is used when a student pays for a club expense with his/her own money The expense must be approved by the club's Budget Officer before the payment is made Must include an original itemized receipt and documentation that the student paid. Please review the entire process on SOM Portal (link below) before making any purchases Due 10 business days after purchase Submit form online ( affairsstudent life/reimbursements) (OR search for Club Reimbursements in SOM Portal)

22 AASL Updates 1) Club Contacts Emily Donnery is the main contact for payment processing and CampusGroups approvals. Lindsey Kozak is the AASL Assistant Director and serves as the main contact for clubs. Liz Oliver from the Business Office can help with account balance issues, deposits, and account statements. Rebecca Udler is the Director of AASL and will continue to serve as our contact for higher level club topics.

23 Next Up Meet with the outgoing club leaders to walk through a potential budget Shadow outgoing club leaders and transfer materials Welcome Weekend Club Fair April 21 st Submit Budget in CampusGroups May 1 st Submit Application to host a Closing Bell May 4 th

24 Quiz

25 Quiz What does PTAEO stand for?

26 Quiz Each club has at least how many accounts?

27 Quiz What are those accounts?

28 Questions?

2. Allocation of departmental student activity program budgets shall be held each spring semester.

2. Allocation of departmental student activity program budgets shall be held each spring semester. MINNESOTA STATE STUDENT ASSOCIATION STUDENT ALLOCATIONS COMMITTEE GUIDELINES For Distribution of the Student Activity Fees SECTION 1: ANNUAL DEPARTMENTAL BUDGET ALLOCATIONS 1. All amendments or variations