URI Memorial Union,
Room 201
50 Lower College Road
Kingston, RI 02881
Phone: 401-874-2261
Fax: 401-874-4427
Finance Committee
Finance Committee Meetings Mondays at 5pm in Room 301
Groups - Make sure to Sign Up in the Senate office by Noon!
Chairperson: Allen Petit
Phone: 401-874-2261
Fax: 401-874-4427
urifinance@gmail.com
Monday |
11 am |
12:45 pm |
|---|---|---|
Wednesday |
11 am |
12:45 pm |
Friday |
11 am |
12:45 pm |
| View the Powerpoint Presentation on Finance Procedures |
IMPORTANT NOTE:
Timeliness is Important. Paperwork handed in after the deadline will NOT be considered.
The Finance committee manages the Student Activities Tax and proposes all legislation of a financial nature, including annual budgets for recognized student organizations and requests for use of the activities tax.
The Finance committee controls the financial accounts and accounting procedures of all student organizations and may temporarily freeze accounts that are in violation of finance policy. The Finance committee maintains inventory records of items purchased with Activities Tax funds and oversees all contracts entered into by student organizations in conjunction with the Director of the Memorial Union.
The Finance Chair
The Finance Chair serves as the CFO (Chief Financial Officer) of the student body. The Chair is responsible for the investment and management of the activities tax and holds joint signatory power over the funds with the President. The Chair oversees the annual budget process and works with student organizations on financial matters. The Chair is also responsible for creating, maintaining, and interpreting the Finance Handbook, which is the official financial policy for the Senate and its recognized groups.
IMPORTANT DATES
Level I and II Groups
- Jan. 30th Budget Paperwork
Request Forms Due - Feb. 4th First Recommendations TO Groups
- Feb. 9th Happy/Not Happy Forms (in mailboxes) due back from Groups
- Feb. 17th Deadline to Appeal your group's Budget
- Feb. 25th Annual Budget Meeting - Student Senate Meeting 6:30 pm
IMPORTANT LINKS
- Finance Handbook
- Mini Finance Handbook
- Fundraising Ideas
- More forms on the resouces page
TOP 10 THINGS YOUR GROUP NEEDS TO KNOW
- Signature Cards:
MUST be signed by both the President and Treasurer of your group before your budget can be used. Cards MUST be filled out in front of the Finance Chair.
- Cash Boxes:
All Events requiring the collection of money MUST have a cash box ( fill out Cash Box Form). Boxes need to be turned in within 24 hours of the event. NO MONEY is to be taken out at any time and MUST be turned in to the building manager to verify funds.
- Contracts:
MUST be reviewed & signed by Bruce Hamilton, Memorial Union Director. Contract Checklist
- Food Purchases:
Purchases from recruitment monies MUST be submitted to the Finance Chair for approval along with a Purchase Requisition and copy an advertisement for the event in advance.
- Contingency Grant Paperwork:
If not filled out in a timely manner, "Immediate Consideration" is permitted but carries a financial penalty. (These forms are only available in the Student Senate office)
- Extra Funding:
Level 1, 2 and 3 Groups have Co-sponsorship monies. Why not ask another group for help? - Gas Reimbursement/Driver Forms: List of Drivers Mileage Reimbursement
MUST be filled out PRIOR to leaving for a trip/conference. Make sure to get them along with copies of Drivers licenses and proof of insurance to the Finance Chair.
- Purchasing Items:
Use a Tax Exempt letter when purchasing items. (letters available in the student senate office)
- Receipts and Reimbursement:
MUST be submitted within 5 business days, Individuals will not be reimbursed for purchases over $50, Receipts may NOT contain other items than what is being reimbursed - receipts with other purchases included WILL NOT BE ACCEPTED. Use a check reimbursement form for purchases between $15 and $50.
- Paperwork Timeline:
Refer to the back of the Finance Handbook for a process flow chart to help plan the time needed for requesting funding and planning your event.
Finance Questions?:
Make sure you speak with the Finance Chair and/or Lorrie Olson, Student Senate Accounts.
