Sport Club Financial Workshop September 2013

Your Best Financial Friend O Denise Oncay O O Office Hours 8am-4pm, Mon-Fri O Best to communicate in- person

Your Club’s Account O Part of Rec Center Account, not SGA- affiliated O No withdrawals, checks or credit cards O Maintain your own budget O Our Secretary Denise has official account record, though is not immediately updated O Tracking your dues (us) and expenses (you) through GoogleDoc O Plan a budget for the year

Treasurer Roles Collects dues or assures that dues are paid Maintains records of receipts and expenditures Submits reimbursement requests or assists other club members in doing so Submits all invoices in prompt manner for payment Submits officials’ paperwork when applicable Assists in any other financial matters as needed

Googledoc

How to Plan a Budget O Simple Math! Money in vs. Money out O Plan it out for the year O Money In: Fundraisers, Donations, Dues Payments, Allocation (Rec Center Money), Carry- Forward, Apparel Sales O Money Out: Officials Payment, Travel Reimbursement, League Dues, Tournament Fees, Equipment Purchases, Uniforms, T-Shirts, Coach Payments, Etc… O Other Money in or Money Out?

Ice Hockey Budget

How to Pay Dues O All deposits go through the Main Office O Pay via cash, check, credit, Boro Bucks O Complete a dues slip O Obtain a receipt O We will update your Dues GoogleDoc O Paying individually vs. collecting and paying in a lump sum O Hold a meeting here to collect dues O Your responsibility to follow up with people about not paying dues O Same process for depositing fundraising money O This money is not immediately available

Sport Club Dues Payment Sheet

How to ‘Withdraw’ Money O At no point do you actually take physical money from your account O We can pay invoices, place orders, and submit reimbursements, but you do not receive cash from us O How clubs have used cash O Collecting and paying officials O Immediate orders O Travel costs O Not an immediate process

Fundraising through Rowan Foundation O Fundraising Sheet O Goes to Foundation, then transferred into your account at the Rec O Tax Deductible for the Donors O Beneficial for clubs with Alumni bases, or asking family for donations O Contact Gary if you would like to set one of these up

Other Fundraising Ideas O Apparel Orders O Unified Sports, Men’s Lacrosse O BSN Team Shop O Bake Sales O Wendy’s O Landmark O Hosting Tournament

Placing an order with a vendor O Ask us early on in the process if they are ‘approved’ O If not, we need a W9 and a New Jersey Business Registration Certificate O Obtain an invoice from the vendor O Have them you a copy O Detail what it is you are ordering O Copy me onto communication O Timeline for payment O Does not happen immediately, usually several weeks O University Purchase Orders (PO’s) O Tax Exempt Status, location of forms O Can’t get reimbursed for tax!

Approved Vendors? O Any vendor (or business) that ANY club or ANY department on campus has ever used is already in our system O If they have not been used by Rowan before, we need a W9 and New Jersey Business Registration Certificate to do business with them O Out-of-state vendors are ok! O If they refused to do the NJ BRC, we can’t pay out of your account, but you can pay out of pocket and get reimbursed

Commonly Used Vendors O ACE Screen Printing O Will Enterprises O BSN Sports O Gopher Sports O Harrow O Anaconda Sporting Goods O Boathouse O Gloucester County Awards O Art Graphics NJ O Others you’ve used?

Reimbursement Process O Used when it’s not convenient or possible to have us submit payment for you (due to a time constraint, or an unapproved vendor) O What we’ll need O Original Receipt O Show how you paid, ex. ‘Credit Card ending 1234’ O Copy of Credit Card (or copy of check, prefer you don’t use cash, makes it more difficult to track and verify) O Any other supporting documentation (website print off, registration form, brochure, anything with the prices documented on it) O Reimbursement Request O Address/Banner/Explanation O Timeline for reimbursement, somewhat out of our control O Check sent to you O Do your part to have everything in on time O Who can get reimbursed? O Anyone, as long as we have the proper documentation

Reimbursement Request

Paying Officials O Non-Student Officials O Personal Service Contract; you (or your league) determine terms of agreement (how much money) O I-9 if they have never worked for Rowan before O Sign and Date O Get Contact Info O Student Officials O Student Special Assignment Contract O I-9 if they’ve never worked for Rowan O Sign and Date O Contact Info O Check mailed to them, not in addition to existing paycheck if they are employed on campus O Timeline for payment O Paying cash O None of this is applicable if your association covers your officials’ costs

Paying Coaches/Trainers O Clubs have the ability to pay coaches O Will not receive additional funding from us O Need to show plan for where this money will come from (Raising dues, extra funding, using Rec-allocated funds) O Stipend agreement, paid once per year or once per semester O NOT considered university staff members, don’t receive benefits O Signed Code of Conduct agreement from President, Coach and Sport Club Director O If you decide to terminate coach’s agreement, notify us ASAP so we can stop payment O MOST CLUBS DO NOT PAY COACHES AND ARE NOT REQUIRED OR ENCOURAGED TO DO SO!

Travel Costs/Reimbursement O Must have submitted a travel itinerary and travel reimbursement plan in order to receive reimbursement O Gas vs. Mileage O Bus O Hotel (Motel 6 discount) O Inform visiting teams of our hotel on campus O Meals O Tolls O For small trips, easier to pay out of pocket or collect money from people and use allocation for other things O Alcohol not allowed

How Allocation Was Determined O Tiers and Multipliers O Points for Data O Total Points out of 60,000 O Points x Multiplier x Point Value O Deductions O Total money ended up less than 60,000, so made some changes

Points Awarded For… O Amount of Members O Years of Existence O League Dues O Member Dues O Competitive Schedule O Fundraising O National Competition O Facility Use O Community Service O Website

Deductions O Missed Meetings O Training O Monthly O End of Semester or End of Year O Missed Paperwork O Constitution O Semester Report O Annual Report

Funding Model Snapshot

Changes for Allocation O Years in Existence O 1pt- 1-3 Years O 3pts- 4-6 Years O 5pts- 7+ Years O League Dues O $0- Zero Points O Up to $100- 1pt. O $ $500- 3pts. O $ pts. O Member Dues O $0- Zero Points O Up to $ pt. O $ $300- 2pts. O $ $500- 3pts. O $ $ pts. O >$ pts. O Comptetitive Schedule/Trips O National/Regional Comps O No Travel- 0 pts. O Up to 1 hr. – 1pt. O Up to 3 hrs. – 3pts. O Regional Qualifier- 4pts. O National Qualifier- 5pts. O No More Club Website Pts. O Facility Usage O 0pts.- On-Campus Only O 2pts. –On/Off Unpaid O 3pts. –On/Off Paid O 5pts. –Off Paid Only

End of the Year O Carry-Forward O Don’t need to use your money, but need to show usage of it O Plan over the summer for next year, place orders early

ProfPoints

Next Officer Meetings O October 21 or October 24 O Risk Management Focus

Questions? O O O