SfGS Useful information for treasurer

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Information concerning
SfGS
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Contents

Whom to talk to

Student Activities Finance Office (SAFO) is the main place to go. They take care of the financial transactions (reimbursements, payments, etc.), hold a training session for a new treasurer, and give you advice on how to raise funds from various sources.


Treasure training

A new treasurer should go through training. This webpage gives you the information and schedules.


Accounts owned by SfGS

There are two accounts: main account and funding account. If you receive funding from the Graduate Student Council (GSC), the money goes into the funding account. Otherwise the transactions take place through the main account.

Note that many things are different for the two accounts, including how you apply for reimbursements, the obligations for reimbursements (e.g., include a logo of GSC for GSC funding).

Anyway, the main point is that SfGS has two accounts, and don't be confused about the two. For more information, please refer to this webpage.

Procedures and paperwork

The funding cycle basically works like this:

  1. Apply to funding sources. GSC, Large Event Funding (LEF), and other sources have all different applications and deadlines. You have to check them.
  2. Confirm you have got the funding.
  3. Spend, but make sure you advertise, and use the tax-exept form oblige with all the requirements. Typically somebody has to make advances, but for MIT internal transactions and some other cases, you can transfer the funds directly from SfGS's account.
  4. Apply for reimbursements. You can get forms here. Notice there are two expense vouchers, one for the main account and the other for the funding account.

This is just the overview. Make sure you read all the requirements for the funding source you're getting the money from. It could change with time, and the description may not be up to date.


Online account management system

MIT provides a nice online system to check the balance and transactions of the student group accounts. The overview is given [1]. It is straightforward and easy to use, but you need authorization. Please read the website about how to get authorization.

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