1. Spring 2016 Treasurer’s Meeting
Presenter:
Dylan Carpenter, Director of Finance, SGA

2. Fiduciary Responsibility
(adj.) involving trust, especially with regard to the relationship between a trustee and a beneficiary.
(n.) An individual in whom another has placed the utmost trust and confidence to manage and protect property or money.

3. Best Practices
Minutes
Reporting
Two signers
Reimbursements

4. RSOs and EINs What is an EIN? Why do I need an EIN?
An Employer Identification Number, also known as a “Federal Tax ID”; used to identify a business/organization. This is basically the “Social Security Number” for your organization.
Why do I need an EIN?
If you apply for University funding, or do a fundraiser, you need one to receive monetary or in-kind donations.
Also, you need this to open a business bank account.
If you use an individual’s SSN, they are financially responsible.
Additionally, obtaining an EIN helps to ensure the IRS will not make any of an organization’s members personally responsible for taxes on revenue that the organization has earned.

5. RSOs and EINs Can we just use the University’s EIN?
No; recognition by Ferris does not imply tax-exempt status. RSOs are their own entity and are not a part of the University.
Does having an EIN guarantee that my RSO is non-profit?
No; an RSO must go through rigorous reporting requirements. A lengthy legal procedure can be undertaken, however, to gain 501©)(3) status.
How do I acquire an EIN?
Many of you will already have one
If you don’t, the steps will be available for you in the CLACS office.
What if I need help filling out the forms?
Contact the IRS directly at 1(800)

6. Requesting Funds Plan the event and record all monetary needs
Budget
Venue
Date
Marketing plan
Set a time to meet with a Division Mentor (travel) or the Fund Administrator (events).

7. Changes to the RAA Additions:
All Finance Division members must be approved by the General Assembly of Student Government.
“Philanthropy Clause”
The SAF is able to fund events wherein 100% of the proceeds go toward a philanthropic effot.

8. Changes to the RAA Subtractions:
Meeting with a mentor for Event Allocations.
50% per line item funding for Travel Allocations (but still only $2,000 total).
Reallocation meeting.

9. Reminders Time Deadlines
<$4,000 – 4 weeks
$4,000-$10,000 – 6 weeks
>$10,000 – 8 weeks
Unanimous vote clause
Completed proposals must be turned in a full week before the Finance Division Meeting presentation
May take more than one meeting
Due the Thursday before at 5:00pm

10. Reminders
AII. S1.“All forms, documents, and other papers issued by the Finance Division to any RSO will be considered a legally binding contract.”
Debts must be repaid
Evaluations
AVII. S2.
“The Allocation Evaluation consists of two parts: the allocation evaluation form, which must be completed within four calendar weeks after the conclusion of the event; and the verbal presentation of the allocation evaluation before the Division, which must be completed within two meetings of the Division, from the conclusion of the event. Additionally, the allocation evaluation form must be completed, signed, and submitted to the Fund Administrator at least one week prior to the meeting at which the RSO seeks to present.”

11. Reminders
AVII. S1.
“Completed travel request documents will be collected by the RSO’s Finance Division mentor upon final approval. The completed event request documents will be collected by the Fund Administrator. The date that documentation is received and the date that the RSO will be presenting for allocation/evaluation will be noted on the space provided. A copy of the completed paperwork will be given to the requesting RSO at time of the final approval by the mentor.”

12. Reminders Article V, Section 2
“The advisor of the sponsoring RSO, or his/her designee who is also an FSU staff person, must physically be present at the venue for the entirety of the event, set-up through tear down. Advisors are not required to be present for travel. “

13. Finance Division Flow Charts
Event Flow Chart
Travel Flow Chart

14. Important Dates Applications Due Meeting Date January 14, 2016
February 4, 2016
February 11, 2016
February 18, 2016
February 25, 2016
March 3, 2016
March 14, 2016
March 17, 2016
March 28, 2016
March 31, 2016
April 7, 2016
April 14, 2016
April 21, 2016

15. How to Approach Finance Division
Detailed information, concise presentation
Professionalism
Co-sponsorship

16. Finance Division ApprovalsEU
Music Takes Action, the event formerly known as “Ferris Fest”
Comedians, magicians, etc.
Club Sports Council
5 Star Events
Theater Delta, etc.
Travel
DSAGA, AMA, etc.

17. Contact Information
t/finance_division
Google > Ferris State Finance Division
Dylan Carpenter
(231)