1. Ohio Alumni Association: Volunteer Finances
Presented May 20, 2016 at the Alumni Leaders Conference

2. Topics Executive Board Training Financial Statements Bank Accounts
Checks & Cash
Events
Tier Funding
Controlled Value Cards
Contracts
Reimbursements

3. Executive Board Training
Training, financial records, and contact information is required to be passed down from prior board members to oncoming members
Your Alumni Association staff liaison is available to answer your finance-related questions:
Erica Lipscomb: or
Tyler Gagai: or
Ryan Boyd: or
David Bambrey: or
Katrina Heilmeier: or
Kellea Tibbs: or

4. Financial Statements
Usually issued in the month following the end of the quarter based on the University’s fiscal year
1st quarter: July 1-September 30 – issued by October 31
2nd quarter: October 1-December 31 – issued by January 31
3rd quarter: January 1-March 31 – issued by April 30
4th quarter: April 1-June 30 – issued by July 31
Account balances can be requested at any time – contact your staff liaison
Statements will only show activity for the current fiscal year
New layout is to help groups track revenue and expenses across quarters

5. Bank Accounts
All chapter/society funds are located in the OU Foundation bank account
Operating funds are separate in the accounting ledgers only
Deposit receipts cannot be sent to volunteers
Outside bank accounts are PROHIBITED
Any outside bank accounts must be closed
Funds must be sent to your staff liaison to be deposited to the group’s operating account within the Foundation bank account

6. Checks & Cash
Per University Policy , all checks for chapters/societies must be made payable to the “Ohio University Foundation”
In the memo line, please indicate the purpose of the check
ie. [Chapter/society name] and [event name/scholarship donation/etc.]
Cash must be converted to a money order
Deposit form

7. Events Events will be posted on OAA’s event calendar
Credit card payments will be deposited directly to the group’s operating account
Proceeds from an event can be donated by the group to their related scholarship
Specific dollar amounts to be donated from each registration will not be listed on the event page
A link to the ohio.edu/give page can be included on the event page if the group would like to encourage donations to their related scholarship

8. Tier Funding
Groups are eligible to receive tier funding from the Alumni Association based on their tier level:
Chapters/Societies – up to $5,000
Networks – up to $3,000
Liaisons – up to $1,000
Groups must be approved by the OAA Board of Directors to receive tier funding
Funding will not be deposited into groups’ operating accounts
Expenses will be paid directly from OAA’s operating accounts
Transaction activity will be recorded on the bottom of each quarter’s financial statement
Revenues from events will always be deposited to chapters’/societies’ operating accounts

9. Contracts Must be submitted to your Alumni Association staff liaison
Will be reviewed, edited, and signed by University Finance
Neither OAA staff nor volunteers have signature authority
Anyone that signs a contract must pay that contract, will not be reimbursed, and will not be supported by the University if sued
OAA will collect necessary insurance paperwork

10. Controlled Value (CV) Cards
Each chapter/society may have two CV cards
Must submit an application and cardholder agreement and pass the CV card quiz to be approved
Cards take roughly 4 weeks to arrive
Only the individuals’ whose name is on the card may use the card
Itemized receipts and Receipt Description Forms must be submitted within 5 business days for every transaction
Cards will be suspended if receipts are not timely submitted
Single transaction limit is $250 and overall limit is $1,000 – contact your staff liaison to request limit increases
Alcohol purchases must be approved in advance – contact your staff liaison

11. Reimbursements Require roughly 45 days to process
Substitute W-9 must be on file
Request for Reimbursement Form and itemized receipt must be submitted
Better to make purchases through Bobcat Buy or use a CV card

12. Questions
Contact your Alumni Association staff liaison with any questions