Student Organization Financial & Event Planning Training. Campus Activities Complex

Transcription

1 Student Organization Financial & Event Planning Training

2 Learning Outcomes Who We Are and What We Do Terminology Agenda Financial Process Reporting Buying Income/Revenue Financial Risk Management Event Planning 101 Resources Event Planning Process and Timeline Event Registration

3 Students will understand who we are, how we can support, and how to reach us Learning Outcomes Students will understand the financial transaction process Students will understand a practical event planning timeline Students will be aware of activities which require additional compliance

4 studentlife.mit.edu/life-campus/campus-student-activities SAO & CAC W (Student Center)

5 Cost Object Main Account, Funding Account, Program Account 7-digits beginning with 2 Terminology G/L (General Ledger) 6-digits EX: Meetings; Food and Beverages Institute Funds JV (Journal Voucher Transfer) Signatory Financial, Space Reservation

6 ASA Database asa.mit.edu Terminology Atlas atlas.mit.edu

7 Atlas Reporting Reports for Student Groups Cumulative Account Balance Report Transaction Report Commitment Report Manage Reimbursements (RFPs) RFP Inbox Find RFPs Buying MIT Internal (MIT Services)

8 Institute Check RFP-Payment Requisition Purchase Order B2P System Buying and Paying Institute Procurement Card SAO Card D/L/C Card Controlled Value Card Journal Voucher Internal Transfer Payments to Student Organizations Payments to Departments Payroll MIT Student vs. MIT Affiliate vs. Non MIT Compliance with Federal Labor Law Personal Funds & Reimbursement RFP-Reimbursement / Concur (Travel)

9 SAVE ALL RECEIPTS Documentation Itemized Receipt & Proof of Purchase

10 Student Travel Form Group, Attendance List, Itinerary Submit to Travel Payment Options SAO Travel Credit Card Hotels, fixed menu meals, buses, etc. Travel SAO Travel Agent Airfare Budget Rental Corporate Account Personal Funds & Reimbursement Concur Reimbursement Personal Reimbursement Note of Approval Non-MIT

11 Template Available *** Note of Approval *** Travel Reimbursement Required Information Your name/title Name of person being reimbursed Date of trip Amount of reimbursement Type of reimbursement (airfare, rental car, etc.) Cost Object I approve Tom the Beaver to be reimbursed for $200 in airfare for the September Retreat. Charge account 272@#$%. Tim the Beaver, Treasurer, BDES Provide to Traveler

12 Program Fees, Dorm Taxes, Sales, Dues, etc. Sponsorships Receiving Revenue Gift Funds Donations Institute Grants Funding Board Allocations

13 Cash and Check Deposits Bank of America Deposits and Receivables E-Commerce admit One Event Ticketing Unallowable Tools (i.e. Venmo, Paypal, Eventbrite) Bank Transfers TechCash Payable to: MIT or Massachusetts Institute of Technology Mailing Address

14 Alcohol Donations to Charity Separation of funds Additional Compliance Activities Contracts High Risk Events e.g. Liquid Nitrogen (LN2) MIT Student Independent Contractors e.g. Web Development/Design Gift Cards Prizes and Awards

15 Contracts Do NOT Sign! Risk Management Cash Controls Cash box, Night Deposits, Petty Cash Grant/Allocation Management Funding Cycles, Business Student Relationships Net 10, Net 30

16 Total Resource Allocation Ethics and Stewardship Budgeting and Reporting Mission Achievement Business Expense vs. Compensation

17 Event Planning 101

18 mit.edu/eventguide CAC & SAO Event Planning Guide Reserving Spaces Atlas Registration City Licenses Advertising And more!

19 1. Planning You 101 have an event idea! What are possible dates? Any conflicts with other events or holidays? Research locations and availability of spaces Event Planning 101 What is your budget? Who will be responsible for what? SPACE! MONEY! TIME!

20 Planning 2. Apply 101for and confirm you have a space! Event Registrar s Office DAPER Planning 101

21 Event Planning 101 Planning Research and choose caterers, entertainers, AV Services Watch out for hidden costs and needs! Police Detail Electrical Lighting City Licenses Your event may include contracts being signed, obtaining insurance, and other processes!

22 Planning Miscellaneous Steps Event Planning Contact the Environmental Health & Safety office early if your event will require a Safety Plan! Develop a plan for the day and assign roles/tasks 101

23 Event Plan Planning Ahead! 101 Cont. At least a month a head for a small event (under 80 people) without the below Event Planning 101 At least two-three months in advance for events that may include: Performers Any activity or contraption that could lead to injury Alcohol or Paid Admission Attendance of over 80 people Minors Attending NON-MIT College students staying in residence halls

24 PLAN AHEAD!

25 An Institute Requirement for certain events Separate from the space approval process! Involves step by step approval from multiple offices Atlas Event Registration You must register your event when any of the below apply: Alcohol will be served Money will be collected during the event Attendance will exceed 100 people 20% of the audience non-mit community members Working with a non-mit organization Working with minors More! Check the event planning guide!

26 Atlas Event Registration

27 We are here to help! Event Planning Guide mit.edu/eventguide Links/ Contact Student Activities Office studentlife.mit.edu/sao EHS studentlife.mit.edu/cac ehs.mit.edu ASA Database asa.mit.edu