Orientation for Co-Manager and Consultants

Orientation for Co-Manager and Consultants

Center for Student Businessprepared by: Donna Vanasse

Center for Student Business, UMass Amherst, D. Vanasse Sept 2009

SR Training

learn guidelines & policy for spending money (and holding events)

You will be financially responsible for your business

Co-Managers put trust & confidence in you to manage their funds


Signature Responsibility is required:

EXPENSE

To submit co-managers’

hours for payroll

EXPENSE

To openPurchase ordersTo buy goods for

Resale.To use a PROCARD

EXPENSE

To invest inCapital equipment

Purchases forYour business

To schedule Campus Center meeting roomsOr the Dukes Room in the Student Union.


SR Training is for:

Student Business Co-Managers – Bookkeepers, Payroll Managers, Procard Holders, Consultants and to Schedule Meeting Rooms

All Co-Managers may attend For Student Businesses, SR Training is mostly financial

and presented by the CSB. For Registered Student Organizations,

Signature Responsibility workshops are given by CSD and emphasize event planning


Who Are The Student Businesses?

FY09 Payroll $255,000

SGA Funds $26,000 for undergraduate

consultants


Role of the CSB

· Educate

· Train

· Supervise

· Mentor

Director2 Grad AssistantsOffice Manager8 Undergraduate Consultants


Provide Business Services and Advising for Event Planning to all:

RSOs – Registered Student Organization

Fraternities & Sororities Student Businesses

Cultural Centers & Success Programs

Center for Student Development 416 Student Union


Student Affairs Trust Fund Fiscal Year 2009

$1.9 million allotted to RSO’s in a Budget Process managed by the SGA each spring

State & university policy define how money is managed


Two types of Accounts

Fee Account - 51082 Annual Budget is requested, approved

by SGA, & allotted to an RSO. Funds may be allocated for office supplies & equipment, copies, paying performers or speakers.

Must be used to benefit all students: can not be used to pay for food for events or to buy gifts for members

Revenue Account - 51119 Money earned through fund-raising,

membership dues, revenue from events, donations, etc.All financial accounts are managed by CSD


Accounts

Each Student Business has a Revenue account

Student Businesses are self-sustainingEnough revenues are generated

by each Student Business to cover student payroll and all expenses

Revenues > Expenses


Who’s Who

DirectorCenter for Student

Business

2 Graduate Students Business Development

CoordinatorProgram Coordinator

Administrative CoordinatorCenter for Student

Business

TEAM

Associate Vice Chancellor for Student Affairs and Campus Life

Vice Chancellor for Student Affairs and Campus Life

8 Student Businesses employing 130 - 140

Undergraduate Students

8 Undergraduate Business Consultants

One Student to maintain CSB computer network

8 Undergraduate Bookkeepers and 8

Undergraduate Payroll Managers, Procard Holders

The goal of the Center for Student Business is to support the mission of the student-run businesses.

Their mission is threefold:

1. To provide co-curricular training and education in cooperative management,

life skills and specific business skills in a supportive and diverse setting.

2. To offer products and services to the UMASScommunity and paid employment

to undergraduate students.3. To serve the university community

CSB provides oversight and guidance to The Student Businesses.

Each business must generate sufficient Income to make the investments necessary

For the long-term survival of the business


SGA Constitution & By-Laws – A Student Business:

Is established and operated by undergraduate students

Shall provide goods/services to the entire University community

Shall provide educational and employment opportunities to the undergraduate student of the university


TITLE VII – A Student Business Will… Be open for

operations on a continuous basis during Fall and Spring academic sessions

Act in accordance with the Equal Opportunity policies of the University of Massachusetts

Supply a copy of the operations & policy manual to the SGA

Have access to the CSB computers, office equipment and professional advice

SGA Constitution & By-Laws


HANDBOOK

Each business has a handbook with policies and guidelines

Contains information on hiring, training, operations and management

Yearly Update due as part of the annual reactivation on Campus Pulse

Save a copy in your Business file in PubDir in the CSB computer Policies may only be changed by vote


Financial Account Information

Financial Records are maintatined using the same fiscal year as the university

Fiscal Year – July 1st to June 30th

Each business uses Quickbooks software as a financial management tool Other ledgers (excel) required in the CSB are

payroll, inventory, register discrepancy file, sales tracking, vendor ledgers, & procard files

Tix – Vending & Event Logs CD&C – Billing Files for customer jobs Bike Coop – Purchasing Log

Back-up documentation is filed in the CSB – Purchase orders, invoices, credits, deposit slips, credit card

receipts, etc.


Financial Accounts are identified by three series of numbers

Purchase Orders, Internal Recharges, Payroll, Deposit Slips, Telcom Requests, outgoing mail,

Work orders, etc.


Account CodesIdentifies Categories of Revenues &

Expenses

The state maintains a very long list of account codes to identify categories of all revenues and expenses

Refer to the list of account codes when opening PO’s, IR’s, or making Deposits

University Account Statements (UAS) –show all monthly income and expenses arranged by account code


Revenue Codes for Deposits

People’s Market

Bike Coop

CD&C


Expense Codes for Purchases

I am paying for an ad in the Collegian.

735100Opening a purchase order to pay for fresh fruit & vegetables

739301I want to order paper goods from Mansfield Paper

739400


Purchase Orders - PO

Purchase orders are how the university does business

a “PO” is a credit agreement between your business and a vendor

When the university issues a Purchase Order, it is making a guarantee to the vendor of your ability to pay the bill

Submit a PO Request Form to CSD

Every purchase made by a student group, university department, or state agency must

have a paper trail.

(Our records will be audited)


Purchase Orders

Your Bookkeeper will maintain a vendor ledger to track the amount of money available in each purchase order

Purchasers & Consultants will need to know how much $ has been spent and how much $ is still available in your budget

Bookkeepers track each invoice applied to a PO

Purchase Orders are valid for one fiscal year

Ideally, the PO has enough $ to cover a semester – Increases may be necessary


Open a PO Before Purchasing

• University Policy requires that you have a Purchase Order prior to placing an order.

Example: Sweets ‘N More needs to have their stove serviced.

• They call the Vendor to get an estimated cost.• The Bookkeeper opens a Purchase Order with that

vendor.• Sweets makes an appointment for the service.• They receive an invoice from the service tech.• The invoice is given to the bookkeeper to be applied

to the PO• Payment is made by the university


Paying Invoices The purchase order encumbers funds

from your account Your bookkeeper submits the invoice for

processing It is logged & processed by CSD and

Accounts Payable Treasurer’s Office mails a check to the

vendor The PO is disencumbered Invoice payments show up on the

monthly University Account Statement


Purchase Order

Written communication

Between Co-Managers


CSD Account Specialists

Kamran

January

Ophelia


Vendor Statements

Bookkeepers & Consultants review statements that come in the mail

They must follow up with the vendor if an invoice is on the statement but you have not received it.

Some vendors will freeze your purchasing if invoice payments take too long


Budget

Consultants prepare a budget for the year based on previous financial information

Steering Committees, Purchasers, Maintenance Committees, Bookkeepers, Payroll Managers, etc. need a copy of the budget to plan spending

All Capital purchases must be included in the budget


Cash Flow Loan

Many Student Businesses have very small contingency funds

Purchasing Guidelines require that we encumber funds prior to making Purchases

And…Revenues from YCMP and UCARD are received one month after they are earned

So…Cash Flow loans are calculated and put into the accounts before opening each semester

Loans are paid back each semester or at the end of the fiscal year


Tax Exempt

As part of a state agency, your business is tax exempt for purchasing

Any purchase your business makes using a Purchase Order or a Procard will be tax exempt

But Speaking of tax…People’s Market, CD&C, Earthfoods Café and Bike Coop do

collect 6.25% sales taxFrom customers on non-food sales and are required

To submit quarterly sales tax to the Massachusetts Department of Revenue


Using Contracted Vendors can save $$$

For certain purchases, we are required to use vendors who have entered into CONTRACTS with the university/state

Some of the vendors with CONTRACTS are: WB Mason – Office Supplies IKON Office Solutions & OCE – Copy Machines See UMASS contracts for – T-Shirt Printing,

commercial foodservice equipment, Food Vendor

http://www.umass.edu/procurement/commcont.html




Capital Equipment

Please discuss in detail any plans for making large purchases with the CSB

All CAPITAL EQUIPMENT purchases will require a budget and presenting a proposal to the CSB

Research use of Contracted Vendors We will help you coordinate special

services from the university like: plumbing, electrical, carpentry, etc.

The Purchase Order should be requested before November 1st or April 1st to allow for delivery and set-up while students are on campus

Requires a Receiving Report


Sole Source – Exceptions to Purchasing Policy – Use of Contracted Vendors

When a student business spends more than $5,000 per year with a vendor, a SOLE SOURCE form is required to be on file in CSD – Bookkeeper’s Task

Sole Source forms require you to verify that you have done research regarding the prices you will pay - Purchaser’s Task

On the form, your purchaser or bookkeeper will verify why you are using a particular vendor (especially if the product is covered by a University Contract)

Socially Conscious VendorFair Trade Coffee & Tea

Support local vendorsSpecialty Items &Organic products


Procard

A procard can be issued to one co-manager from each business (It cannot be used by anyone else.)

New cardholders are required to attend a 2 hour UNIVERSITY PROCARD TRAINING and 15 minute CSB training

use contracted vendors, etc. WB Mason – Office Supplies (~50% discount) Each Student Business has a policy for using

the procard effectively See Donna for Record Keeping policy for

procard holders – about 1 hour/month

• Plan ahead when the Procard holder will be leaving the business…

• Designate one person to go to training and apply for a new procard


Cash Deposits

University policy for cash-handling requires daily deposits and accurate record keeping

Teller’s Hours 9am – 3:30pm (closed 12:30 -1:30pm)

All Cash-Out Committee members must attend the Cash Out Training Standardized procedures for registers How to process YCMP or UCard swipes How to fill out deposit slips

Use your CASH BAGS for making daily deposits.

Student Union businesses can make deposits after 3:30 by calling Facilities Services or Security.

Snack Bars: Call for an escort from Public Safety for after hours deposits

545-2121

• See Rosemary• Cashout Committee Members

have to be trained!!!• We have to fit the state model for

revenues• Deposit Forms, Data entry in CSB• How to reprogram the register when

prices are changed• How to swipe YCMP at the register


Making Deposits

Deposits are made at the Cashier’s Window on the lower level of the Campus Center.

List checks individually on the deposit form – see next slides for details(although most businesses do not accept personal checks)

Daily deposits are reconciled by your consultant with monthly account statements


Depositing Checks

Write in: Your speed type/account code

Double check the date, signature, amount

Complete the department notes portion of the deposit form: payer name on check and amount

Jane Doe $500.00

Do not write on or stamp the back of a

check

Enter the amount being deposited into each account code, checks are considered cash


Note: Register Discrepancy Over/Short Report

If the daily cash deposit has a deviation of $20.00 or more, you are required to fill out a written statement giving information about why you think the deposit was not correct.

Forms are in CSB or on our Website Give completed forms to Program

Coordinator 24 - 48 hours of the discrepancy


Cash Bank

The cash bank is a loan that you take out at the beginning of the semester so you will have cash for your registers.

You must pay back this LOAN as soon as you have earned enough cash.

Please document this in your cash-out files in the CSB.

Student taking out the loan must have valid SR


Other Sources of Revenue RSO – Internal Recharge (IR)

Any account managed by CSD• RSO must submit an IR for processing• Consultant or Biller will review daily IR

reports

Campus Department Recharge Authorization for

Departmental Billing• Blue forms – obtain signature to authorize

billing

Emphasis: Obtain Signatures

Prior to providingservice


Quickbooks

All revenues & expenses are entered into one GENERAL LEDGER in Quickbooks

Co-Managers are required to enter data once a week

Look for this icon on the start menu:

QuickBooks Pro Edition 2004.lnk

Follow Instructions for opening Quickbooks at each workstation


Open the Chart of Accounts

Click on “General Ledger”Click on “General Ledger”Revenues

Expenses

Sorted by Account Codes


Quickbooks

Refer to the Financial Manual in the CSB for details about using Quickbooks

Every Revenue & Expense is entered by Co-Managers

Weekly Invoices, cashout, procard purchases,

catering jobs, IR’s received or written, vending revenue – other?


Monthly Financial Statements Your Consultant

reconciles Quickbooks with monthly

University Account Statements

Enters overhead expenses

Meets with bookkeeper & cashout (other Co-Managers) to clarify discrepancies

Presents Financial Reports at All Staff


Other Expenses

Full Costing 7.5% of all Expenses (FY10)

CSB Tax – 1% of revenue each semester

BOB Dues - $75.00 per semester Monthly cost of phones, internet

connections, UCard Reader rental 6.25% State Sales Tax on non food sales:

Peoples Market, CD&C, Bike Coop Shipping or delivery charges (Bike Coop) Processing Fees for UCard, Credit Card

(CD&C)


Do not spend CASH

Use a purchase order or Procard for all business purchases

Reimbursement for purchases without prior approval are not allowed under University Policies

If you have an emergency purchase to make, see Donna


Can We Open a Bank Account?

University policy states that you may not open an outside bank account

All cash (except for the cash bank for your registers) should be deposited to your University account on a daily basis.

Tips are deposited on a weekly basis *roll change – buy coin wrappers

At the end of each semester, you will deposit your cash bank and return your cash bag to CSD


Due Dates for Information Co-managers will come in to the CSB

every week for data entry There is a monthly fine when data is

not entered on a timely basis Financial data comes from many

sources- inventory, invoices, payroll, procard, cash-out , billing & vending files

Each Co-Manager needs to be responsible and be held accountable

Due Date:7th of each month


DUE DATE – Inventory Data Entry

Inventory is taken at the beginning and end of each semester as well as the last day of each month of business. The data must be entered in the CSB computer files by your co-manager by the 7th of each month.


Consultants calculate the costof beginning & ending inventory

each month

COGS is important when creating a financial statement


Due Date - Cash Out – Register Discrepancy Report

Cash out means the daily revenue figures for you business. Your Cash-

out co-manager is responsible to come to the CSB office every week

and enter this data into Quickbooks, the Register

Discrepancy/ Sales Tracking file on the Public Directory.

Daily revenues are broken down into the following categories: Cash, Ucard, YCMP, and Credit Card.



CD&C Billing

CD&C must complete billing files on a monthly basis to collect money from departments on campus who can not use an IR

Written authorization for billing must be on file each year with CD&C (blue forms)

Monthly Updates to RSO Billing Files RSO Billing and Departmental Billing files

must be completed monthlyDue Date:

7th of each month


Tickets Unlimited

Tix is State Mandated to collect and handle money for all RSO events in the Student Union and Campus Center Complex

All RSO events that require ticket sales will file a contract with Tix at least 2 weeks before the event

Tix manages the sale of tickets in advance and at the door for the event.

Tix makes the deposit into the sponsoring RSO’s account.

Monthly reporting to the CSB is required.



Tickets Unlimited – Vending Tix manages the vending tables on the

Campus Center Concourse RSO’s may reserve a table at no

cost for information & fundraising (BOB)

Tables may be reserved by calling Tix 545-0412 or 545-0198

See their website for policies/procedures

Vendors pay a fee Monthly Vendor Reports must be

submitted to the CSB



Fines

Each business will be fined if data is not entered into the CSB computers by the following deadlines:

CASH-OUT - Register Discrepancy, Quickbooks, Sales Tracking

Inventory – By Business, By Vendor CD&C - RSO & Departmental

Billing – 7th of the Month Tix – Monthly Event Log & Vending

Log

$50.00 FINE


Cooperative Management

It takes effort from many Co-Managers to enter financial data into the CSB network

Ask for help from another co-manager if you find that you are going to miss a week of data entry

Missing a deadline? Talk to Rosemary


Fine for Late Reporting of Financial Data

If we actually do have to collect the fine (and we have in the past), this will go into the BOB account to be used toward the Annual Student Business Dinner

All STUDENT EVENTS are Registered with CSDSee Rosemary to complete paperwork for BOB or Stu Biz events

– date auction, Annual Student Business Dinner, etc.Use an Event Checklist

Plan Ahead, Prepare a Budget Room Rental for Fundraisers, Other Costs


Who’s BOB?

The Board of Student Business

• created to unify the Student Businesses• meets weekly on Wednesdays

• Two members from each business, CSB consultants

The mission of BOB is to serve as a support network between the Student Businesses, and to serve as a

Liaison between the CSB, the SGA and the university administration

Campus OutreachDiscuss inter-business concerns

Provide an open forum for discussionFundraising

Organize annual dinner*Maintain Student Union Display Window


Student Payroll

Due in SAITS TIME every Friday at Noon

Payroll Manager approves payroll by 3pm

Maximum 8 hours/day, 20 hours/week all jobs combined

Consider Direct DepositIdeally the Payroll Manager will be part of the Hiring Committee.

Reminder: New Co-Managers are required to come to the CSB to show Acceptable forms of ID within 72 hours. Until this is done they are not

authorized to work and cannot be paid.

Consider hiring students with Work Study

Your business pays 30% Work study pays 70%

Potential reduction in payroll expense: $1260 per student with An award of $1800


ServSafe – Food Businesses 1 Co-Manager at

food business must be certified

2 at Earthfoods All students working

in a food business must read and sign the Food Employee Reporting Agreement

Standards for safe food handling -

Receiving

Prepping

Cooking

Serving

Storing

Reheating


Catering

Attend the Catering Workshop Before the Event

• Use a Catering Contract• Complete Food Waiver

After the Event• Issue Invoice

• Enter Revenue in Quickbooks• Receive an IR or Recharge Authorization

Get Paid – Who’s responsibility?


Communications Manager

Communication/Information To and from co-managers, CSB,

university, community, vendors Retrieve & forward email messages Respond to Voice Mail on your

business phone Check the mailbox in the CSB Report out at All Staff – Add the

Communications Manager to your agenda

Campus Pulse

http://umassamherst.collegiatelink.net

http://umassamherst.collegiatelink.net/


Resource Center314 Student Union Pick up paychecks every other Friday

after NOON Bring you ID – if not picked up checks

are mailed home Request Long Distance Phone Codes Pick up Packages for your Business Request on-campus Labels or Lists Reset Passwords for your Student

Business email or Website Please notify the CSB

When you change to your passwords – We will maintain a list as a courtesy to you

To send mail from your business:108123

Campus Mail


Long Distance Telephone Code Campus phones are set up for local dialing only Any Co-Manager who needs to make long

distance calls (for Student Business purposes only) may request a Telcom Code

Your business will be billed for all calls made using your code (you must reimburse your business if you make a personal call by mistake)

How? Forms are available in the Resource Room Student Telcom codes are canceled every

summerEach Business may need a long distance code for

Sending Faxes – apply ASAPReceive Faxes in the CSB – (413) 577-3353


Telephones

Phones are University Equipment – E911

All phone service requests are made through the Resource Room – TUG REP –

Phone Equipment Repair or replacement

To Change Password for voicemail Fees are recharged to your account

Request new keys for offices in Student Union – ($25.00 - $35.00 per key)

Keys are issued to an individual – using SS#, Students need to turn in key when they leave the university –

Complete a Key Request in CSD to transfer keys to new Co-Managers (Tix)

If you request to have your locks re-cored, make sure the new lock is on the same Master Key ($75.00 plus the cost of new keys)

Notify the CSB to order a new key for your office Center for Student Business, UMass

Amherst, D. Vanasse Sept 2009

Key Requests – Resource Room

If you are locked out • CSB has a key to each business

In the Student Union• (Resource Room has a Master Key)


Key Storage

Businesses in the Student Union use a lock to store the key to their business –

Share the combination with your Co-Managers

Notify the CSB of the new combination if you replace your lock - Courtesy


Worker’s Compensation

Student Employees are covered by Worker’s Comp

If a Co-Manager is injured while working: Come to the CSB and file an Incident

Report Before seeking medical treatment (or

within 24 hours following emergency medical treatment) the employee or his/her medical provider must call the state insurer’s Utilization Review agent for approval of treatment: 1-800-266-7991


CSB Website

www.umass.edu/rso/csb

Useful information & forms

Frequently Asked Questions

http://www.umass.edu/rso/csb


Honest Business Practices Student Businesses are

committed to open, honest and fair business practices

Among Co-Managers, With Customers, Suppliers, & University Community

When reporting Payroll Hours UCard, YCMP, Credit Card


Winter or Summer Activity Businesses planning to be open during non-

academic sessions are required to apply for approval

Your steering committee must decide on specific goals and create a budget

Set up a meeting between your steering committee, your consultant and the Director to discuss your plans

This is a separate pay period which requires new Payroll forms

At least one student in each business working during the non-academic session must have Signature Responsibility


Scheduling Rooms for Meetings

Only a person with Signature Responsibility can schedule a meeting room in the Campus Center for 10 or more people

Call the scheduling office at 577-1234 or go to their website at: http://www.aux.umass.edu/events/ Click on Request a Meeting Room On-Line Room rental fees are waived for RSO meetings

*Steering meetings need to be held in the Student Union or Campus Center to allow the director to attend

Notify Scheduling if you are not going to use a

room you had reserved.You may not allow other

On campus or off campusGroups to use your space

or meetingroom

Sign up for CSB Conference Roomfor small committee meetings

• Seats 8 - 10

http://www.aux.umass.edu/events/


Workshops

Workshops are offered throughout each semester. Ask Rosemary for a workshop for your business.

If you cannot attend due to a scheduling conflict, we will gladly present any workshop if you gather a group of 4 or 5 students.

Committees will benefit from TRAINING

See Donna for additional trainingBookkeeper

Procard HolderPayroll Manager

Orientation for new Co-Managers


Student Union is Managed by Facilities Services Hang posters on bulletin boards

(may not tape them to walls/windows, etc.)

Space allocation is handled by Campus Center Scheduling

Must request permission from Facilities Services to paint or affix anything to the walls or if you want to paint


CSB Expectations

Complete OPENING/CLOSING PACKET each semester

Update the contact list of co-managers with email addresses

READ YOUR HANDBOOK

Attendance at:your weekly All Staff

meetings Attend CSB

trainings,Your business’ EVALsAnnual Student

Business Dinner


Overview

How long is Signature Responsibility valid? One Year from the date of training

http://umassamherst.collegiatelink.net

Signature Responsibility Manual and other helpful stuff on CSD website

Renewal Options:Attend SR Training or

Review this presentation on a CSB Computer to update your Training Date



Orientation for Co-Manager and Consultants

Documents

Transcript of Orientation for Co-Manager and Consultants