The best way to ensure financial stability for your club is to keep on top of your expenses, plan in advance, and work with the SAIL Student Banker.
Here are some tips about Budget Trackers/Ledgers:
- Club Treasurers should be keeping a ledger of the original balance, and all activity that goes on in your club funding account.
- A treasurer’s self kept ledger can be cross-referenced with the official Wheaton webFocus report by requesting it from the SAIL Student Banker. However, the webFocus reports are not current because of the delay between when paperwork is processed and when it is entered into the system. This is why Clubs must keep their own records to avoid miscalculations.
- Group’s events should also have a method of tracking the use of funds – feel free to download this Excel Budget Ledger.
SGA encourages clubs to fundraise to offset group costs. At the end of the year all “fundraising money” that was not spent will roll over and remains in your group’s account! Make sure to tell the Banker what is money fundraised versus other types. Spend and fundraise wisely and you could build up a nice account for your club!
If your club has done fundraising, you should deposit the money into your fund immediately. Deposit slips and bags are available outside of the Rhodes Leadership Office anytime or directly from the Banker. Once you’ve completed the information on the deposit slip, seal and insert the bag in the black mailbox located below the “Outgoing Mail” box. The Banker does not need to be present for you to make a deposit, however if you need help feel free to meet with the Banker for deposits.