1. Everything you need to know about finances and club budgets
Financial Training
Everything you need to know about finances and club budgets

2. 2017- 2018 Jason Haynes AswouBusfin@wou.edu
Director of Business and Finance
Jason Haynes
Director of Student Organizations
Alex Quesada

3. Table of Contents Club Tiers What is IFC? Who falls under ASWOU?
Budgeting Process
ASWOU Accounts
Spending Process
IFC Policies
ASW Accounts vs. Foundation Accounts
Fundraised money
FAQ
Questions?

4. Club Tiers Clubs are broken down into three tiers:
Funded (sponsored) clubs
Receive student fee funds from the IFC. They must follow state guidelines when using their money. A club must be chartered for two consecutive years before requesting funding.
Affiliated (non-funded) clubs
Affiliated with a campus department or outside organization that may provide them with resources, money, curriculum, etc.
Voluntary (non-funded) clubs
Neither sponsored nor affiliated. Usually fundraise their money and may be a more social or “hangout” club.

5. Where does ASWOU money come from?

6. IFC! Incidental Fee Committee
IFC makes the decisions on funding for organizations and departments
Has eight voting members and one elected chair
Three elected, three appointed by ASWOU, three appointed by WOU
IFC members serve one year terms
Main source of funding for student organizations

7. You’ve been approved to receive IFC money, now what?

8. Budgeting Process Funding is decided by the IFC one year in advance
Budgets are submitted in the fall for the next year
i.e. Budgets for school year are decided in Fall 2017
Clubs submit budgets to the Director of Business and Finance
Director of Business and Finance presents any budget changes to IFC
Enhancement Requests
Clubs may ask for more funds through Enhancement Requests
Must have set IFC funds for:
Travel, Clothing, and Foods

9. ASWOU Accounts IFC money will go into the club’s ASWOU account
You can only access the money in this account through the Director of Business and Finance
Your club will be given a specific “ASW” Index Number.

10. Ready to spend some money?

11. Spending Process
Meet with Director of Business and Finance to see how much is allocated for event/travel
Look at various costs and find a vendor (if possible)
Turn in forms to ASWOU a minimum of four weeks in advance
All expenditure forms MUST go through the Director of Business and Finance
All forms require Director of Business and Finance signature
Director of Business and Finance has direct access to funds and can check budgets

12. Spending Process Two ways to spend club funds 1. Using a vendor
Fill out a Purchase Requisition form.
Give the form to the Director of Business and Finance. Has to be approved before the order is made.
Vendor will send WOU an invoice. Director of Business and Finance and the ASWOU Advisor sign and the Business Office sends a check to the vendor.

13. Spending Process 2. Using a non-vendor
Fill out an ASWOU Expenditure Authorization form BEFORE anything is purchased.
Bring it to the Director of Business and Finance and the ASWOU Advisor to sign.
Buy supplies using your own money.
Fill out a Reimbursement Form and turn it in to the Director of Business and Finance (include itemized receipts!)
Business Office will send you a reimbursement check for the amount that you spent.
Use this option only when the company cannot be made a vendor.
Example: If you’re going to Michael’s to buy craft supplies with your own money.

14. Spending Process Meals and Refreshments
Must have budgeted for all meals and refreshments
Was budgeted the previous year
Non-Travel Meal and Refreshment forms must be filled out for all events
Must use WOU Catering
Catering has the right to approve or deny any food from an outside vendor
Fill out an ASWOU Catering Charge Authorization
Fill out an online Catering Order Form (found on the catering website)
Can get policy waived with a Waiver Form

15. IFC Policies What can be purchased with IFC funds?
Promotional items
Decorations (only reusable decorations)
Refreshments and food (non-alcoholic refreshments; must be pre-budgeted)
Travel expenses (must be pre-budgeted)
Event supplies
Clothing (must be pre-budgeted)
What cannot be purchased with IFC funds?
Gifts
Firearms/Alcohol
Craft supplies that are intended to be taken home by participants
Candy

16. Foundation Accounts
Foundation Accounts are a good way to bypass the strict policies with IFC funds.
Accounts made through Jill in the Cottage
Less restrictions than ASW accounts
What can go into Foundation accounts?
Fundraised money *
Donations or grants
NOT IFC money

17. ASW Accounts vs. Foundation Accounts
Foundation and ASW accounts can both be used
Money can only be transferred from Foundation to ASW accounts
Any money transferred in to the ASW accounts will remain in the ASW accounts
ASW Accounts
More restrictive
7.4% Admin Overhead (may go up next year)
IFC can see all activity
Foundation Accounts
Less restrictive
3% Admin Overhead
Still need to do travel and meal forms
ASWOU/IFC do not track these funds

18. Fundraised Money
If ANY IFC dollars are used for a fundraiser, ALL funds fundraised MUST go back into the ASW account
Take funds to Chelsie Broussard (ASWOU Office Coordinator) for ASW Account deposits
Take funds to Jill in the Cottage for Foundation deposits
NO OUTSIDE BANK ACCOUNTS, PAYPAL ACCOUNTS, OR CREDIT CARDS

19. FAQ What happens if we overspend our budget?
Can ask IFC for more money
Fundraise needed funds
Get penalized for next year
Director of Business and Finance is out of the office, what do we do?
Leave it in the “IN BOX” on desk
Be aware of the Office Hours
Director of Business and Finance

20. FAQ What if we do not spend the entire budget?
IFC may penalize the club the following year
You will have the same funding the following year (since already budgeted for), but may lose funding the year after that
No advantage
Spend it or IFC will think that you do not need the funds!
How do clubs track budgets and how do we know what was budgeted last year?
Director of Business and Finance to set up a meeting

21. Questions? Director of Business and Finance
Director of Student Organizations
Jason Haynes
Office Hours:
M/W: 3 to 5
T/TH: 12:30 to 3:30
F: 11 to 3
Alex Quesada
Office Hours:
M/W: 2 to 4
T/TH: 12:30 to 4:30
F: 2 to 4