Bookeeping
It is
necessary for record keeping purposes to keep track
of Administrative, Event, and Emergency expenses separately,
along with expenditures from "discretionary"
funds (fundraisers, dues, donations, etc.). This will
help Treasurers keep track of remaining funds available
for each type of expense. This also comes into play
when the Audit Subcommittee reviews expenditures,
to ensure that all funds have been spent according
to the purpose for which they were requested and allocated.
In order to track expenses
with revenues, ASG requests that organizations mark
their receipts, invoices, and ledgers with some indication
of whether the expense was a use of Administrative,
Event, or discretionary funds. Discretionary funds
include fundraisers, dues, and donations and can be
used for any purpose, including those restricted above.
This is necessary for legal reasons, to ensure that
any events that cannot be funded by ASG were funded
by discretionary funds.
For bookkeeping ease,
all treasurers of student organizations are asked
to turn in all receipts from all ASG monies spent.
These receipts are needed by Accounts Payable to receive
S numbers, so simply make a copy, and give bring it
to the ASG office. This is to ease in the process
of audits. If an organization has lost all of its
information, it can be heavily penalized. If ASG records
have been turned in, this will not happen.
