A bill, invoice, quote, application, registration, or other official document that explains the need for a check request. A copy of meeting minutes is sufficient for a funds transfer.
A check to pay for costs during an organization trip, made payable to an individual in the organization. All receipts and change must be brought to the Student Activities Business Office (SABO) the next business day after the trip. A cash advance is only to be used for travel expenses, such as gas, parking, and tolls.
Cash Collection Bag
A locked bag issued by SABO upon request, to facilitate the security and reconciliation of cash collection by a group. A cash collection bag can be picked up from SABO whenever a group is collecting money, checks, or cash. Keep tickets with the bag to aid the reconciliation process.
Committing money for a specific purchase or service before payment is actually made. Encumbered funds are not available for use by the organization.
Initial request from a group for movie rights in the format desired. The group should determine which film they want to show and then fill out the request form. SABO will review the submission and let the group know how much the film’s rights cost. If the group does want to secure the rights, they will need to submit a payment request via the Treasury in OrgSync.
When funds are transferred from one student group account to another student group account or a departmental account. Minutes from a meeting that shows the approval for transferring funds should accompany this request, or a memo signed by the group’s treasurer.
A bill for services rendered or goods delivered.
Generally these contracts are hotel/event contracts or conference/retreat contracts. BU’s lawyers review these contracts and then a University representative signs them. The contract should be submitted via payment in the Treasury. Allow at least six weeks prior to your event to ensure the contract can be appropriately reviewed. Students can’t sign their own contracts.
All contracts generated by the On Campus Performer Contract. Send this form to your performer or lecturer to begin the contract process. Keep in mind, once this form is sent to the third party, your group will be responsible for paying them regardless of the status of your event approval.
Reconciliation: Cash Collection
An explanation and accounting for the difference between the amount of money collected for the sale of an item and the amount of money that should have been collected. Receipt books or tickets should be used with all cash collections in order to facilitate this process.
All money that is collected by a student group. All revenues should be accounted for through ticket sales or receipt books, as part of cash collection.
A company or person that has agreed to provide goods or services for an agreed-upon price. Each vendor has a vendor number, which can be looked up in the Vendor Book.
A listing of on-campus and off-campus vendors.
An IRS form: Verification of Taxpayer Identification Number. All individuals and businesses receiving payment for goods and/or services for the first time must complete this form before payment can be issued. All non-reimbursement payments require that a W-9 be submitted or already be on file with BU.