EMU NSBE CHAPTER FINANCE DOCS

EMU NSBE Chapter is in compliance with all rules as required to the policies and procedures of monetary event allocation and University Guidelines.

2008/2009  Acting EMU NSBE Chapter President, Otis Watson III

2008/2009  Acting EMU NSBE Chapter Vice President, Paul Peeler

University Student Organization Fund Application & Guidelines

Eligibility Requirements:

o       Organization must be recognized by Campus Life office located on the 3^rd Floor of the Student Center.

o       Organizations must have a completed application and current signature card on file.

o       Organizations must complete a Change form yearly to update officers and  faculty/staff advisors and signers

Application Process:

o       Student Organization Fund Applications may be obtained from Campus Life or Financial Services (212 Hover).

o       Completed applications must be signed by the Campus Life Director of Student Activities located on the 3^rd floor of the Student Center.

o       Submit the completed application to the Financial Services located at 212 Hover.

o       The organization will be assigned a unique fund number.

o       A minimum of two authorized signers will be required.  Financial Services requires authorized signers to present a photo ID when signing card.

Depositing Funds

o       All funds deposited into the organization’s account are subject to Eastern Michigan University’s Expense Reimbursement Procedures.

o       Checks to be deposited should be made payable to: Emu/X_ _ _ _ _ 

o       Deposits are processed at the University Cashiers office located at 201 Pierce Hall.  Deposit vouchers can be obtained in the Cashiers office.

o       Deposit slips must include:

                        Name of Organization

                        Phone #

                        Name of person making the deposit

                        Fund Number: X______

                        Revenue account code:  L112

                        Description of deposit:  i.e. Advertising, donations, dues,                                                                       registration fees, T-shirts, etc.

o       The cashier staff will verify the deposit and prepare a receipt.

o       The organization must retain this receipt for verification against their financial statement.  To request a statement, please have fund number available and call 734-487-1440 after the 5^th business day of the month.  Requested statements will be available for pick up 24 hours later at Financial Services, 212 Hover.

o       Deposited checks that are returned for any reason (i.e. account closed, insufficient funds etc.) will be charged back against the organization’s account in the amount of the check in addition to a $20.00 processing fee.                                                                                                 

Submitting Expenses:

o       To purchase goods and services from both internal and external sources, a requisition must be completed (requisitions are available at the Information Desk located on the 3^rd floor of the Student Center).  All supporting documentation (see page 3) must be attached.  All requisitions must contain:

§         Fund #

§         Organization name

§         Phone number

§         Printed names of authorized signers

§         Authorized signatures

§         Name of vendor/person to be paid and their complete address

§         Contact person and phone number

§         Description (reason or purpose), type of expenditure

§         Account code of L118

o       If a student is seeking expense reimbursement on behalf of the organization, the student must complete the Employee Reimbursement/Travel form and attach supporting documentation.

o       The organization fund balance must be sufficient to cover the expense.

o       Supporting Documentation

§         Original (no copies or faxes), itemized sales receipt, invoice or contract.

§         To pay an individual or entity (other than a reimbursement), a completed W-9 must be attached.

§         Personal service contract must be completed for services $500 and up (Speaker, DJ, performing, etc).

§         Speaker/Presenter/Performer agreement less than $500.

§         State vendor name on letterhead or stamp.

§         Contain an amount and description of the transactions.

§         Dated

§         For individual reimbursement, receipt must clearly indicate PAID by the vendor.

§         All receipts must be itemized.

§         Receipts from On-line purchases must show the complete company address, credit card type, amount paid and clearly state the item(s) purchased.

§         Credit card statements are not acceptable documentation for proof of purchase.

§         Documents labeled as a “Statement” are not acceptable means of proof of payment.

§         If the organization is giving an award to an individual, an Award Letter must be attached.  This letter must specify the name of the award, how the award was earned, the recipient’s name and SSN or EID.

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