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FINANCE TRAINING

The information on this page is intended to prepare student leaders, especially club presidents and board members, for club and finance processes during the academic year. All questions about finance processes should be directed to the ASSP Officer of Finance. As an additional resource, please look to the club handbook before reaching out to the Officer of Finance. 

REIMBURSEMENT FORMS

A Reimbursement is a business expense that returns personal funds used for an approved business purpose (i.e., food or balloons for an event). This is the most common student leadership business expense. After you have purchased the items you need for your event with your personal money, you will need to submit a "Request for Reimbursement" (RFR) Form. In this form, you will need to detail the "Business Expense" or description of what these funds were used for in detail, according to SPU Finance's Instructions for Request for Reimbursement

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In order to successfully be reimbursed for a business expense you need/need to do the following from the purchase: 

  1. Receipt

    1. DO NOT FORGET YOUR RECEIPT when making the purchase. Furthermore, do not lose that receipt. You will need to attach or send a photocopy of your receipt for a successful reimbursement. 

    2. If you forgot to separate the items you purchased for the event and the items you purchased for yourself, no worries! If these items are on the same receipt, highlight the items that you want reimbursed (items for the event) so we know which items you need to be paid back for.

  2. Business Information

    1. You will need a record of the date you purchased the items, the business purpose, budget number and account codes (see below for a reference to those codes). 

  3. Signatures

    1. The following people need to sign and date this form for it to be successfully reimbursed:

  • Claimant: You (the person who needs to be reimbursed) bottom right corner on the line labeled "claimant".

  • Claimant's supervisor: Your supervisor depends on what type of organization you are. 

  • Clubs

  • ASSP Officer of Finance - Tani Yoshioka (ASSP-Finance@spu.edu

  • ASSP-Cabinet

  • ASSP Officer of Finance - Tani Yoshioka (ASSP-Finance@spu.edu)

  • Medias

  • The budget manager for your media group.

  • STORP

  • Advisor - Kevin Deschler (deschlerk@spu.edu)

  • Collegium/Commuter

  • Advisor: Jalá Harper (harperj4@spu.edu)

  • If you have any questions about who to reach out to feel free to email the ASSP Officer of Finance, Tani Yoshioka, ASSP-Finance@spu.edu

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Return your Reimbursement form in a Timely Manner

  1. Please complete and return the reimbursement form within the week you make your purchase. Forms will not be accepted 2 weeks from the purchase date. For clubs and ASSP-cabinet return the Reimbursement form, all receipts, and any approvals if necessary to the ASSP Officer of Finance (Tani Yoshioka). For all the Medias and OSIL programs (STORP, etc.) please give all completed forms, documents, receipts, and approvals to Advisor Kevin Deschler (deschlerk@spu.edu). 

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Tips for the Reimbursement Form:

  1. When in doubt, follow the instructions on the form itself. There is an example above and the template for the RFR form is on the forms page or you can email the ASSP Officer of Finance or OSIL Graduate Assistant for the templates.

  2. Make sure you attach your receipts when you return the reimbursement (RFR) form to your advisor. 

  3. When you fill out the reimbursement (RFR) form and are detailing your expenses, make sure you give a good description, including the date when you made the purchase, what you bought, and how many people it served. If you bought snacks or food, detail how many people the snacks were intended for. 

  4. On the "Descriptions" column, do not put your entire description into one line, make sure it is legible. 

  5. The excel sheet will calculate totals for you. Make sure that this total matches the total on your receipt(s). Please include the total with taxes included. 

  6. If you are going to purchase personal products in the same trip as the supplies for your event - Complete the personal products on one transaction, and the items for your event on a separate transaction and separate receipt. 

    1. If you had accidently purchased personal and business items at the same time and it wound up being on the same receipt, make sure highlight and total the items meant for your organization's business purpose. Please calculate the tax you paid as well and write the total (including tax) at the top of the receipt.

 

How to calculate sales tax and find an accurate reimbursement amount

Washington's sales tax is 6.5 percent. So in order to be reimbursed for the total amount you spent for your business expense you have to factor tax in. Whenever you are trying to figure out how much you paid in taxes multiply the tax percent by 100 to get a decimal (6.5% x 100 = 0.065). Then you multiply the percent decimal (0.065) times the total amount of your items. The number you get is the amount of taxes you paid on those items.

 

To get the total amount of your business expense (including tax) just add the tax to the sum of all the business items on that receipt (0.065 x sum of all the business items = actual total) so you can get the total amount you spent including taxes. This is the actual amount you paid and therefore the actual amount you should be reimbursed. 

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An example is if I totaled all my business expenses on my receipt from Fred Myer (food for my club meeting) and it added up to $20.00, I would then multiply 20 times 0.065 (6.5% Washington sales tax), and which would show me I paid $1.30 in taxes on top of the $20.00 for the food. I would then add the sales tax ($1.30) to my business expenses ($20.00) and get the total amount I spent at Fred Myer ($21.30) after taxes.

BUDGET CODES

  • Fund Numbers–Club account number, Club programming fund

  • Org Number–2813 (ASSP)

  • Account Number–indicates business purpose (i.e. groceries, decorations, general supplies) can be found in Club Handbook

    • Common account codes

      • 72102–general supplies

      • 74503–Entertainment and Hospitality (snacks/groceries)

      • 52826–Other income (fundraiser profits)

FUNDING REQUESTS

Funding Policies

ASSP will provide up to $4,000 to any "Club Signature Event."

  • The maximum of $4,000 is not guaranteed.

  • ASSP will base funding choices on, but not limited to, the following criteria: â–ª Event size and scope 

    • Previous and predicted attendance

    • Event evaluation

    • Fundraising

  • Traditional fundraising (bake sales, car washes, etc.) as well as raising funds and sponsorships are examples of fundraising. For additional information, see the "Donations and Sponsorship" policy.

  • Clubs must pledge to raise a minimum of 20% of the overall event cost. For example, if the event costs $2,000, your group will need to raise $400

    • Clubs must reach or surpass their fundraising target 30 days before the event date. And have all funds raised by this date deposited

    • Failure to fulfill the fundraising goal may result in the cancellation of any ASSP funding previously committed to this event

    • Event ticket sales are not considered fundraising

 

The ASSP Club Officer and Financial Officer will work with club leaders to set fundraising deadlines​

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To request funding, follow this process:

01

  • Submit event request

02

  • Submit funding request

03

  • Attend CSC meeting to seek approval

  • CSC approves the first $250 of the proposed budget, Finance board approves the next $500.

  • Large scale/signature events are approved by Senate and require additional fundraising. Plan for 2 weeks in advance PER board that must approve the budget.

04

  • Submit reimbursement form

  • ​Must be submitted within 1 week of the finished event, including original receipts.

FUNDRAISING

01

  • Reach out to the ASSP Officer of Finance to set up a cashbox schedule. The cashbox is due back within 48 hours of the fundraiser.

02

03

  • Deliver cash deposit envelope

  • The Treasurer will put together cash deposit and forms in an envelope. The club treasurer is responsible for delivering this to the Financial Affairs Office in Walls Advancement Center.

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