WELCOME! Clubs Training Session #2 Audit November 24th 2016

Audit Preparation

Let’s Review – What do you need to submit? Financial Statement Bank Statements (September – December) Receipts/invoices Cheque logs (and corresponding cheque stubs) Supplementary documents (e-mails, letters, etc.) Updated Events List for winter semester Letter to the Auditor*

Let’s Review – Financial Statement

Let’s Review – Bank Statements Be sure to highlight your current balance

Let’s Review – Cheque logs & Receipts

What are we going to look at? Required documents Auditor feedback – students being audited by students How active the society has been (how much money have you spent?) If the society has attended training sessions held by the UTMSU Projected events for second semester

Where can you find these documents? ON THE UTMSU WEBSITE! Clubs > Clubs Documents > Re-Recognition

Let’s do one! I held an event called “Writers Talk” for the “Awesome Club "on July 21st, 2015 that involved having a guest speaker. The Club was expensed the speaker’s taxi fare from the airport to the venue location. I personally paid the fare from my VISA and the Club issued me a reimbursement cheque #057. The event generated $3000 in revenue through tickets. The expenses include: speaker cost ($0); Italian food catering ($500); venue with A/V ($1500); gift for speaker ($100); taxi fare ($45). Report this amount as if it were debited to the Clubs bank account. Report this amount as a reimbursement.

ACTIVITY