Financial Guidebook: Difference between revisions
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'''EUS Budgeting Standards''' | '''EUS Budgeting Standards''' | ||
*Please understand how taxes work for EUS groups | |||
*Everything is budgeted for the PRE-Tax amount | *Everything is budgeted for the PRE-Tax amount | ||
**Total Revenue collected must be divided by 1.14975 to account for GST and QST being taken off | **Total Revenue collected must be divided by 1.14975 to account for GST and QST being taken off | ||
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*Clubs & Design Teams should maintain their own financial records. | *Clubs & Design Teams should maintain their own financial records. | ||
'''Cheque Reqs''' | '''Cheque Reqs''' | ||
*Pink Form found in the EUS Office. Used to get a cheque processed for reimbursement or for a large payment to a company | |||
*Cheques processed every Wednesday. Deadline to submit each week is Tuesday afternoon, or else it will wait till the following Wednesday. | *Cheques processed every Wednesday. Deadline to submit each week is Tuesday afternoon, or else it will wait till the following Wednesday. | ||
*Only authorized Financial Officers for your specific account may approve a cheque req to your account. It will be rejected otherwise. | *Only authorized Financial Officers for your specific account may approve a cheque req to your account. It will be rejected otherwise. | ||
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'''Deposits''' | '''Deposits''' | ||
*Deposit Envelopes can be found in the EUS Office for cash and cheque deposits. | |||
*See example of a correctly filled out deposit envelope. | *See example of a correctly filled out deposit envelope. | ||
*Take the pink carbon copy slip before placing sealed deposit envelope in the drop safe (found in the closet in the EUS office). | *Take the pink carbon copy slip before placing sealed deposit envelope in the drop safe (found in the closet in the EUS office). | ||
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*Inform the VP Finance and Dianne of any in-coming sponsorship cheques, whether it’s from MESC or from an external company | *Inform the VP Finance and Dianne of any in-coming sponsorship cheques, whether it’s from MESC or from an external company | ||
'''Funding Sources''' | '''Funding Sources''' | ||
*EUS Operating Budget | |||
*Clubs Fund | *Clubs Fund | ||
*Design Team Fund | *Design Team Fund | ||
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*External Sponsors | *External Sponsors | ||
'''Floats''' | '''Floats''' | ||
*Must be submitted 5 business days beforehand | |||
*Fill out both sections of the purple form | *Fill out both sections of the purple form | ||
*Return the float in the cash box in an orderly fashion | *Return the float in the cash box in an orderly fashion | ||
'''Internal Transfers''' | '''Internal Transfers''' | ||
*Must be signed by both parties | |||
*Up to the EUS groups to fill out internal transfer after a shared Blues Pub | *Up to the EUS groups to fill out internal transfer after a shared Blues Pub | ||
*Not processed as regularly as cheques or deposits | *Not processed as regularly as cheques or deposits | ||
==Sections== | ==Sections== | ||