WPI Treasurer's Corner

Financial Record Keeping
- Financial Record Keeping:
  - Financial record keeping is an integral part to ensuring the efficient use of funds within your club and proving fiscal responsibility during the OCFC (Organization Class Finance Committee) process and to the SGA Financial Board.
    It is important for a Club Treasurer to understand that it is his/her responsibility to make sure that the clubs budget is spent efficiently and effectively, and remains balanced. To aid in maintaining a balanced budget, SGA has provided a link below to a simple Excel file to keep your financial records.
    Sample Budget
- Budget Guidelines
  - a. Each club can only have ONE food meeting per SEMESTER
    b. If a Purchase Order is used, funds will not be removed from the clubs account until after the event/purchase. It is important to keep track of these amounts, because they will not be reflected in account data provided by the SAO.
    c. A club budget may be in the red during the year, due to expected returns from ticket sales, and such. However, it is important to make sure that the club budget is out of the red by the end of the fiscal year.
    d. A club should attempt to follow their budget request categories as strictly as possible. Money that is requested for programming should go towards programming.
SGA Financial Structure
- What is SGA Financial Structure?
  - The Student Government Association has assembled a short guide on the Financial Structure of SGA. While we have attempted to build a comprehensive guide, we understand that there is no better resource than our Bylaws for detailed, definitive, and up-to-date information. So please, if you have a question either email sgatreasurer@wpi.edu and/or check out the bylaws.
    The Student Government Organization organizes all recognized clubs and organizations, with the exception of the Undergraduate Student Government Association into (6) classes. Each classification and their respective requirements can be viewed on the Club Classifications Tab. Class I, II, and III clubs are eligible to receive a budget.
- Budgeting
  - Organization Class Finance Committee: Budgets are allotted by the Organizational Class Finance Committees (OCFC), with one committee for each class respectively. Each Organizational Class Finance Committee is chaired by a member of the Committee on Appropriations (SGA) and is known as the class Treasurer. Additionally, undergraduate members from the clubs in the respective class sit on the OCFC committee. Together, the members of the OCFC committee review budget proposals with each individual club or organization and recommend a fiscally responsible budget for each organization within the class. The budgets are then voted upon collectively by the Undergraduate Student Government Association.
    Budgets:Budget packets are distributed to each organization at the beginning of B-term and MUST be returned prior to the final day of B-term. In addition to providing SGA with the completed budget packet, all organizations must submit a fiscal proposal for the upcoming year, a detailed explanation of funds requested for each budget line, and a current list of undergraduate members who are active.
- Special Funding (For more information goto the tab Budgeting)
  - All clubs and organization recognized by SGA may request supplemental funding. Additionally, any individual who wishes SGA to co-sponsor an event with them may request funding. Events that benefit the entire undergraduate student body may be funded. Also clubs or organizations in classes I, II, or III may request funding for equipment which value exceeds the organizations ability to purchase from their budget.
    In order for an individual to request funding, they must submit a Special Sponsorship Funding Request (More details may be found on the SSF tab under Forms). A club or organization requesting funding may fill out the Special Funding Request (More detail may be found on the SFR tab under Forms).
    The Financial Board will, hear the request, discuss the request, and then vote aye, nay, or send-to-senate. If the Financial Board votes aye or nay then the money will be released to the club, organization, or individual following the regular SGA meeting with no-appeals.
- Student Organizational Account Codes
  - Student Organizational Account Codes - Organization account codes for budgeting/expense form purposes.
Forms
- Special Funding Request (SFR)
  - Special Funding Request (SFR) For all SGA budgeted and non-budgeted clubs requesting money to conduct a program that will benefit all students campus-wide.
- Special Funding Request Report Form
  - Special Funding Request Report Form All clubs who SFR for an event MUST fill out a report form in order to be considered again for an SFR.
- Special Sponsorship Funding Request (SSF)
  - Special Sponsorship Funding Request (SSF) For any individual who wishes to conduct an event on campus that will benefit all students campus-wide.
- Special Sponsorship Funding Request Report Form
  - Special Sponsorship Funding Request Report Form Any individual who SSFs for an event MUST fill out a report form in order to be considered again for an SSF.
- SFR/SSF Checklist
  - SFR/SSF Checklist
- Reclassification Request Form
  - Reclassification Request Form For any club that believes they belong in a different SGA funding class.
- Semester Report Form
  - Semester Report Form All clubs who wish to receive a budget during the OCFC (Organization Class Finance Committee) process must fill out this form.
- Financial Record Keeping Spreadsheet
  - Financial Record Keeping Spreadsheet
- Check Request
  - Check Request Request a check from WPI for a Purchase Order or Invoiced item.
- Expense Reimbursement
  - Expense Reimbursement Request reimbursement for an expense funded out-of-pocket (must provide receipts)
- Interdepartmental Transfer (IDT)
  - Interdepartmental Transfer (IDT) Transfer funds between WPI accounts (ex. SGA account to Clubs WPI account)
- Cash Receipts
  - Cash Receipts Cash deposit/receipt form.
- Student Organizational Account Codes
  - Student Organizational Account Codes Organization account codes for budgeting/expense form purposes.
Supplemental Funding for Clubs
- Who May Request Funding
  - Any recognized club or organization may utilize the SFR form to request funding. All organizations may request funding for any event which benefits the entire undergraduate student body, and classes I, II, and III may utilize the SFR form to obtain funding for specific equipment that is outside the scope of their budget.
- The Funding Process
  - o Prepare the SFR Form: The SFR form should be filled out completely, and include a breakdown of all listed expenses. Additionally, it is recommended that if necessary, a PowerPoint presentation and/or handouts should be prepared to clarify your request.
    o Submit the Form: All SFR forms must be submitted in the SGA office by 12:00 Noon on the Wednesday prior to the Financial Board meeting. Additionally, in order to receive funding, the request must be received at least 3 weeks prior to the date the money is needed.
    o Attend the Financial Board Meeting: Upon submission of the form, a representative of the club must attend the following Financial Board meeting. (An email will be sent to the contact email listed on the SFR form notifying the club/organization the date and time of the meeting).
    o Financial Board Vote: Upon hearing your request the Financial Board will discuss it, and vote Aye, Nay or Send to Senate. A vote of Aye or Nay will be to either fund or not fund the request. A vote of Send to Senate will result in the request being heard and voted upon by the senate, instead of the Financial Board.
    o Financial Board Appeal: In the case that any individual feels the Financial Board has made an erroneous decision, a senator may appeal to the executive board of SGA. If the executive board agrees by a 2/3 vote, then the request will be sent to the senate to be heard and voted upon.
    o Follow-up: Following the approval to fund a request, the SGA Treasurer will drop off an IDT in the club mail box, which needs to be completed and submitted to the SAO office.
Supplemental Funding for Individuals
- Who May Request Funding
  - Any individual who would like SGA to co-sponsor a campus-wide event may use this form to request funding.
- The Funding Process
  - o Prepare the SSF Form: The SSF form should be filled out completely, and include a breakdown of all listed expenses. Additionally, it is recommended that if necessary, a PowerPoint presentation and/or handout(s) should be prepared to clarify your request.
    o Submit the Form: All SSF forms must be submitted in the SGA office by 12:00 Noon on the day prior to the Financial Board meeting. Additionally, in order to receive funding, the request must be received at least 3 weeks prior to the date the money is needed.
    o Attend the Financial Board Meeting: Upon submission of the form, a representative of the club must attend the following Financial Board meeting. (An email will be sent to the contact email listed on the SSF form notifying the club/organization the date and time of the meeting).
    o Financial Board Vote: Upon hearing your request the Financial Board will discuss it, and vote Aye, Nay or Send to Senate. A vote of Aye or Nay will be to either fund or not fund the request. A vote of Send to Senate will result in the request being heard and voted upon by the Senate, instead of the Financial Board.
    o Financial Board Appeal: In the case that any individual feels the Financial Board has made an erroneous decision, a senator may appeal to the executive board of SGA. If the executive board agrees by a 2/3 vote, then the request will be sent to the senate to be heard and voted upon.
    o Follow-up: Following approval of the request, the individual has the permission of SGA to purchase the materials/goods/services necessary to run the event. The SGA treasurer shall then reimburse the individual for those expenses, when the receipts are submitted. SGA expects that if an SSF for an event is approved, that individual shall have some sort of sign/banner at the event indicating that SGA is co-sponsoring the event.
Club Classifications
- What are Club Classifications?
  - In order to familiarize everyone with the SGA Financial Classification Structure, SGA has provided a brief outline of each class; how they are defined and what they can/cannot request funding or. If you believe your club isnt classified correctly please submit a reclassification form
- Class I
  - Organizations open to all undergraduate students of the Worcester Polytechnic Institute which focus on a specific area of interest and do not receive a yearly operational budget from any other organization.
- Class II
  - Organizations open to all undergraduate students of the Worcester Polytechnic Institute and classified as Club Sports by the University. Class II organization may not be funded by any other organization, including the Athletics Department.
- Class III
  - Organizations open to all undergraduate students of the Worcester Polytechnic Institute which focus on providing programming for the entire undergraduate student body.
- Class IV
  - Organizations open to certain segments of the Worcester Polytechnic Institute student body. These organizations may include honor societies, Greek organizations not falling under the class V organization below, and exclusive professional societies. Class IV organizations may approach SGA for special funding for programming benefitting the entire undergraduate student body. Class IV organizations do not receive an SGA budget..
- Class V
  - All fraternities and sororities are class V organizations, and must be federally incorporated. Only class V organizations are allowed to have outside bank accounts, although they may approach the SGA for special funding for programming events benefitting the entire undergraduate student body. Class V organizations do not receive an SGA budget.
- Class VI
  - All organizations recognized by the SOC who have not yet applied for reclassification. Organizations in this class must apply for reclassification after 1 year of provisional status. Class VI organizations may ONLY apply for supplemental funding for programming that benefits the entire undergraduate student body.

Financial Record Keeping

SGA Financial Structure

Forms

Supplemental Funding for Clubs

Supplemental Funding for Individuals

Club Classifications