Finance Certification Content

2018-2019 Finance Certification Content

Table of Contents

INTRODUCTION ..........................................................................................................................................................3 Contacts ..................................................................................................................................................................4 RIT EVENTS .............................................................................................................................................................4

BUDGETS.....................................................................................................................................................................5 CREATING AND MAINTAINING student club and ORGANIZATION BUDGETS ........................................................5 RECONCILING Student club and ORGANIZATION BUDGETS: .................................................................................6

Expenses .....................................................................................................................................................................7 Expense Approval Form (EAF) ....................................................................................................................................7 SALES TAX EXEMPTION...............................................................................................................................................8 RIT VISA CARDS...........................................................................................................................................................9

Online Purchases with a visa: .............................................................................................................................. 10 Purchases....................................................................................................................................... 11 PURCHASE ORDERS (PO'S): ..................................................................................................................................... 11 CHECK REQUEST to pay a vendor ............................................................................................................................ 12 PAYING A STUDENT FOR WORK DONE:................................................................................................................... 12 REIMBURSEMENTS (TO STUDENTS) ........................................................................................................................ 13 REIMBURSEMENTS / payments (TO ADVISORS) ..................................................................................................... 13 RIT HUB.................................................................................................................................................................... 14 FREE COPIES PROVIDED BY THE TIGER SUITE.......................................................................................................... 15 PETTY CASH ............................................................................................................................................................. 15 CASH BOXES............................................................................................................................................................. 16 STUDENT CLUBS/ORGANIZATIONS CASH MANAGEMENT AGREEMENT ................................................................ 16 TRAVEL..................................................................................................................................................................... 17 LOGO & DESIGN APPROVALS FOR T-SHIRTS and ALL CUSTOMIZED PRODUCTS..................................................... 19 FOOD & CATERING PURCHASES .............................................................................................................................. 20 CONTRACTS ............................................................................................................................................................. 20 Prizes, Awards, and Giveaways ............................................................................................................................... 21 Donations given....................................................................................................................................................... 21 TRANSFER OF FUNDS............................................................................................................................................... 21 INCOME ................................................................................................................................................................... 22

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CASH & CHECKS ................................................................................................................................................... 22 FUNDRAISING & DONATIONS received ................................................................................................................... 23 DROP-BOX................................................................................................................................................................ 24 NELNET .................................................................................................................................................................... 25 TIGER BUCKS CARD READER .................................................................................................................................... 26 student government Awards................................................................................................................................... 26 IMPORTANCE OF SEGREGATION OF DUTIES ........................................................................................................... 27 Accountability Matrix .............................................................................................................................................. 28 FINANCIAL HOLDS.................................................................................................................................................... 30 Student club and organization unrecognition......................................................................................................... 30

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INTRODUCTION

Welcome to the Center for Campus Life at Rochester Institute of Technology!

Clubs and organizations bring students of similar interests together and foster social interaction, leadership development, school spirit and affinity to RIT. Student clubs and organizations promote activities, diversity, service, and learning outside of the classroom. When students are actively involved in running student clubs or organizations, they acquire many skills that will be beneficial in other areas of their life. For example: negotiation and compromise, event planning, budget forecasting, fiscal management, accountability, and adapting to change when things don't go exactly as planned.

The Finance Certification is a training opportunity for RSOs, SSOs, the Greek community, Advisors, and the Center for Campus Life (CCL) recognized student clubs and organizations to enhance their understanding of financial processes and policies. By completing this training, students and advisors gain valuable knowledge regarding requirements, expectations, and available support. This training information also serves as a resource to reference before engaging in any financial transactions to ensure compliance with RIT policies and procedures.

PLEASE NOTE: As a new policy starting July 1st, 2018, the following are required to pass the financial certification before they can make any financial transactions:

1. Designated members of RSOs, SSOs and their advisors 2. Designated members of the Greek community and their advisors 3. All advisors of student clubs and organizations

This certification is required annually (July 1st ? June 30th) for the 5 members who will be completing financial transactions for student clubs and organizations, as well as all advisors for these student clubs and organizations. These 5 members who will complete transactions for the clubs will be the same 5 members who are registered to create events for the club. The treasurer must be one of the 5 members financially certified and the remaining 4 members can be chosen by the club, but they will have to be the same members who are registered to create events for the club. Only these 5 members will be allowed to complete transactions for the student clubs and organizations. This certification must be completed prior to making any financial transactions, and must be completed each academic year, not each semester.

An additional change to be aware of is the new Expense Approval Form (EAF) that will be used starting July 1st, 2018. We will not be accepting any other prior or altered editions of the EAF as of July 1st, 2018. No transactions will be completed unless requested through the new EAF. For any questions, students are encouraged to meet with The Campus Life Tiger Suite Finance Team.

We look forward to working with you!

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CONTACTS

The Finance Team office is located in the Tiger Suite, Campus Center 03-1610. Office hours are Monday through Friday 8:30am - 4:30pm.

Front Desk Attendant: The first point of contact at the Tiger Suite. The student employee who supports the Tiger Suite staff, answers club inquiries, schedules appointments, receives paperwork, maintains club folders, and manages delivery of packages, crcccl@rit.edu, 585-475-4111

Student Finance Assistant 1: The student employee who handles financial entries and communicates with student clubs and organizations, finccl@rit.edu, 585-475-7519

Student Finance Assistant 2: The student employee who coordinates deposits, petty cash and communicates with student clubs and organizations, sgstnt@rit.edu, 585-475-7519

Sr. Financial Assistant: Dawn Rizzo provides financial support for Sports clubs, Religious clubs, ALANA Collegiate Association, and A-Capella Groups, dawn.rizzo@rit.edu, 585-475-5798

Sr. Financial Assistant: Carol Rouhana provides financial support for WITR, Greek chapters' on-campus accounts, all student clubs and organizations (except sports and religious clubs), carol.rouhana@rit.edu, 585475-6072

Associate Director for Financial Operations: Elaine Kanara provides financial support for Campus Life department accounts, Student Activity Fee accounts, Student Government, elaine.kanara@rit.edu, 585-475-5658

RIT EVENTS

Student clubs and organizations are required to register all events in RIT Events at least 4 business days prior to the event date. This does not guarantee that the event will be approved as certain services may require up to 10 day notice in advance. An event must be entered in RIT Events prior to any transactions being completed related to the event. When you receive an event reservation number, you need to include it in your completed EAFs for any event-related purchases.

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