Are you going to be here in Boston over IAP this academic year? Great! There is tons of stuff to do:
Go visit Fenway Park – home of the World Series 2013 Champs Boston Red Sox!
Sample some of the fine seafood options around Boston and New England, like lobster!
Or, you can take part in the MIT Energy Initiative’s (MITEI) Energy Mini-Grant program during IAP. The program will award three grants, $500 each, for student or staff-led energy related activities to take place during IAP 2014.
The MITEI Education Office is now seeking proposals for grants which aims to support IAP programming that engages the topic of energy, while involving members of the MIT community.
Potential examples of funded activities include: a panel on specific topics of energy research, holding a recruitment event for a student organization in the energy sphere, to designing and implementing an energy-related competition.
For more information about qualifications, requirements, and other information, contact MITEI Student Activities Coordinator Ethan Feuer at email@example.com!
Your proposals should be submitted by Dec. 18th, 2013, and notification of grant allocations will be announced by Dec. 23rd, 2013.
It’s that time of year again, as your student organization looks to plan epic events and engaging opportunities for the campus community. Those events take cash money though, and in order to put on a great event, you need to know how to keep track of your budget.
The Student Activities Office can help you with that. It is strongly recommended that your organization’s Treasurer or another officer takes some time to attend one of our Financial Trainings this week. They are offered Monday through Thursday this week, starting at 6pm in 4-237.
We are excited to be a partner in your plans to take on big goals and do great things. We look forward to seeing you all this week at the Financial Trainings!
Save the whal… or, rather, Save The Receipts!
How not to keep your receipts filed or organized!
When being reimbursed for a purchase you have made on behalf of your student group, you are required to submit “documentation”. But what really does this word mean? Documentation means that the person being reimbursed needs to prove what they purchased and how they purchased it. These two factors are referred to as the Itemized Receipt and the Proof of Purchase.
Let’s use the restaurant example: You finish lunch at a restaurant and the price comes to $25. The waiter drops the receipt and you pay with a credit card. The waiter takes your credit card and brings you back something to sign. You add a $5 tip (feeling generous) and….now what?
You actually need everything in the little black book; the receipt which shows the price and everything which you ordered (itemized receipt) AND the credit card slip which you signed (proof of payment). If you are paying cash, you will need to ask the waiter to go a get you a cash receipt (proof of payment).
Without both of these, Proof of Payment & Itemized Receipt, you will not be reimbursed. Lesson for today: SAVE ALL RECEIPTS.
MIT works with vendors utilizing a payables policy of Net 30, which means that MIT strives to pay all its obligations within 30 days of receipt of service. Notice this is not 30 days after you get the bill, but 30 days after the vendor or entertainer provided their services. This policy works well for student groups working with outside vendors, but what about reimbursements to students? What policy should we use for reimbursing members of your organization?
I would like to suggest that all Treasurers of student groups adopt a Net 10 policy for reimbursement to students, ensuring they will receive their reimbursement within two weeks. It is important to remember that the process doesn’t end with the electronic reimbursement submission to SAO. There can be up to a week from that time before the check or direct deposit reaches the student. Treasurers must be mindful of this timeline when developing their own internal systems to provide funds back to organization members.
Finally, it is very important that the submission of the reimbursement is done correctly, as incorrect submissions can cause significant delays in the reimbursement process. The SAO offers Signatory Trainings each semester for any organization Treasurers interested, and is perfect for first time Treasurers or those looking for a refresher on the process!
The Signatory Trainings are happening in the next couple of weeks, starting tonight, so make sure you get to one soon!
Tuesday, Feb 12 from 6-7pm in 56-114
Thursday, Feb 14 from 6-7pm in 3-133
Wednesday, Feb 20 from 6-7pm in 3-133
Thursday, Feb 21 from 6-7pm in 3-133
Please visit the SAO website or email Colin Codner (firstname.lastname@example.org) for additional details.