+Creating & Managing a Committee Budget

UVA Student CouncilOctober 2011

+How the process works

Summer budget approved between induction of new officers and end of the academic year Due before finals in the spring Funds accessible at year-end, through the first

week of school

Fall budget approved at the beginning of the academic year Funds accessible once the budget is passed in the

fall Once fall budget is approved, summer funds will

not be accessible

+How to make your budget

Create a line-item budget based on expected events and activities Look at prior years’ budgets

http://www.uvastudentcouncil.com/financial/ Get quotes from vendors/suppliers for

approximate costs

New this year: greater budget flexibility Line-items will be used to generate a bottom line

total This total will be the amount allocated to each

committee—more flexibility for new programs

+SAF vs. Non-SAF

SAF funds can only be used for certain activities, everything else is funded by non-SAF Biggest difference: food (including utensils, cups,

etc.), prizes/awards, and fundraising activities are non-SAF

Religious activities, political activities, and social entertainment are non-SAF

Many distinctions between SAF and non-SAF vary on a case-by-case basis For a list of the guidelines, go to

www.uvastudentcouncil.com/download/112/ (pg.7) If in doubt, email Katie Gaver at kbg5p@virginia.edu

+AtUVA: New financial package

Allows us to track all purchases and purchase request by committee

Gives a running balance of how much money each committee has left to spend

Creates transparency!

http://www.atuva.net

+AtUVA: New financial package

+AtUVA: Finance and Roster

The roster tab lets you invite members and manage positions (give financial abilities)

The finance tab lets you make purchase requests and check your account balances

+AtUVA: Adding members/managing positions

+AtUVA: Adding members/managing positions

+AtUVA: Adding members/managing positions

+AtUVA: Creating a purchase request

1. Log in using your computing ID and password

2. Go to the committee for which you’ll be spending money

3. On the bottom left-hand side, click on the “Finance” tab

4. On the upper right-hand corner, click on “Create Purchase Request”

5. Fill out all information, making sure to specify what initiative the expenditure is for, whether it’s SAF or non-SAF, and how it you need to pay for it (see next slide)

+AtUVA: Payment options

SAF funds have some flexibility. You can pay by: Meeting with Business Services to create a

purchase order for any vendors who are registered with the University

Having the company send an invoice to StudCo

A direct transfer of funds within the University (PTAO)

Paying out of pocket and being reimbursed—make sure to enter your 9-digit student ID #

Using a p-card (training required)

+AtUVA: Payment options

Non-SAF funds are a little simpler. You can pay by: Paying out of pocket and being reimbursed—

make sure to enter your 9-digit student ID # Having the CFO write a check to the vendor

(invoice needed for this) Having the company send an invoice to

StudCo

+AtUVA: After your spending is approved When your purchase is approved, you will

receive an email notification from atUVA

Once approved, make the purchase

Print out the atUVA form and attach any receipt or invoice

Deliver the form + receipt to Newcomb 164K (in the StudCo office) To the right of the computer monitor, there’s a file

system with sections for SAF receipts, non-SAF receipts, and completed forms

+A couple of things to note…

Never sign a contract—this must be done by Mike Citro

Plan ahead if you’ll be making major purchases, and be sure to allow extra time for processing, shipping, etc.

If your committee has a p-card, only the cardholder can use it to make purchases, and these must be tax-free

Most importantly—all spending must be approved before any purchase is actually made

+Questions? Comments?

All important documents accessible at http://www.uvastudentcouncil.com/financial/

Questions? Comments? Contact Katie Gaver at kbg5p@virginia.edu