Wesleyan Student Assembly — Wesleyan University
Resources WSA Financial Inquiry
Now that your student group has been recognized by COCo, your group now has the ability to request funding through SBC (or an alternative source) and to manage its funds through the WSA Office. We are here to provide you with competent assistance, in order to help you reach your group's goals and to offer you administrative and financial support. One of our primary responsibilities is to assist you with financial transactions, which consists of reimbursements, payments, credit card charges, wire transfers and so much more. We can provide you with general financial information which will help you to understand the WSA financial process. We can also provide you with information regarding the procedures to obtain your group's funds. Please review the information provided in each of the following sections.
- General Financial Information
- Financial Procedures
General Financial Information
The SBC budget is managed through an electronic system. Money is moved between accounts electronically, so we do not deal with actual dollars. For example, if you request money from SBC and they approve your request, the SBC will submit a list of financial requests to the WSA Administrator who then enters the data into a budget management system. The information is then uploaded into the WSA Financial Reporting System. As a result, actual cash is never handled.
How are funds maintained?
Once you have established a student organization two account numbers are automatically assigned to your group. Your funds are maintained through these accounts. Your Group Account Numbers can be used to charge bills, reserve any Wesleyan facility, make a payment to vendors and honoraria, and rent University audiovisual equipment, in addition to a gamut of other services here at Wesleyan. While you should guard your budget number carefully, the WSA Administrator or her administrative team can provide you your group's account numbers if they have been misplaced.
What is an Account Number?
An account number is six digits. It allows student groups the ability to review their income and expenses. Your student organization will be assigned an 866xxx SBC account number and an 877xxx Income account number. The first three digits will identify your group as a member of the WSA. The last three digits identify the name of the student group and are the same on both accounts. If your group has been registered in the past it will retain its old account number and will automatically be assigned an Income account number. You can access your accounts by using the WSA Financial Reporting System. Instructions on how to view your group accounts is explained below.
What is an Object Code?
An object code is four digits. It is used to categorize income and expenses by type. Object codes should be used for generic expense classifications, e.g. supplies (2101), membership dues (2250), travel (4509), etc. Although there are hundreds of object codes available, the WSA Office uses approximately 24 object codes. You can find a list of object codes on the Allocation Request Form and descriptions of selected object codes on the Allocation Request Form Instructions sheet. Both forms can be found on the WSA website or in the WSA main office.
How Funds Are Financially Managed
All student group leaders should be aware of how money is generated into and spent out of their group accounts.
- Income Student Organizations receive money in three ways:
- Your SBC Budget Request is accepted. The approved amount is transferred as electronic money into your student group's 866xxx SBC account under the specific object codes for which it was approved.
- You have income from the previous year (aka. a "carryforward").
- Each summer the SBC will decide and normally allow the balance of a student group's 877xxx INCOME account from the previous year to be used (as money under the object code 2004) by the group the following year.
- You generate income during the school year. This income is reflected in the student group's 877xxx INCOME account under object code 0360 after the group's treasurer submits a Deposit Form to the WSA office.
- Expenses When a student group spends money, its expenses will always be charged to the specific object code that best reflects the nature of the expense.
- If the expense is funded by an SBC Budget Request then the expense should be charged to the student group's 866xxx SBC account under the object code for which an Allocation Request Form was approved.
- If the expense is funded by current year or prior year income then the expense should be charged to the student organization's 877xxx INCOME account under the object code which best reflects the nature of the expense.
- If the expense is funded by another department within Wesleyan then the expense should be charged directly to that department's account number. Money should not be charged to the student group's account for later reimbursement from said University department.
- It is possible that one particular invoice or expense may need to be split across any or all three scenarios above.
You can request funds through alternative sources (other than the SBC, for example) by contacting and requesting support from other departments on campus. Click on the following link to get information regarding alternative sources of funding. Place link to PDF file here. After you review the information, contact the department that will most likely support your request and ask them to complete the WSA's Department Contribution Form.
This electronic form is to be used when student group leaders request funds from academic or administrative departments to support an event and/or activity. You can either direct them to the WSA website or provide the following link:
It is important that you provide the department with the following information when you make your request so that they can properly complete the form.
Required information that student should provide departments:
- Student Group Name:
- Student Group Account Number:
- Event Name:
- Event Start Date:
- Event End Date:
- Student Name:
- Student Email Address:
- Student Phone:
The expenses incurred by your event will normally be paid directly by the department from their account and will not be transferred into your group's Income account. The WSA Administrator will handle all financial transactions and can provide a spreadsheet for you to review the contributions your group has received.
WSA Financial Reporting System
The WSA Financial Reporting System is an electronic accounting system that keeps track of your student group's finances online. In order to access the Financial Reporting System you must be officially recognized by COCo. Your group should also assign one currently enrolled student member as the Financial Contact person; this person will be able to access your student group's account(s) through the student portfolio system by following the instructions below.
- Log into your student portfolio
- Select “My Student Portfolio”
- Under “Tools & Links” select “WSA Financial Reports”
- A screen similar to the following will appear. Select the report you want to review by clicking on one of the links.
SBC Funded Accounts Account/Object Code Summary Transaction Detail Income Accounts Transaction Detail
- Click “Run Reports”
- Note: If you are the financial contact person for more than one group, you must key in a six digit account number in the “Account Number” field. Then click Run Reports.
The WSA Office has a variety of forms to assist student group leaders with acquiring funds for payment and/or reimbursements. These forms are separate from SBC forms and can be found here.
Financial Requests for Student/Staff
In order to request reimbursements or payments, you must fill out a Financial Request Form. This authorizes us to take money out of your group's account in the form of a check. You must then submit an original ITEMIZED RECEIPT or INVOICE or else the request cannot be processed. It must also be signed by the authorized representative (aka. the Financial Contact) for your group. Before submitting the form, please ensure that the requested amount of money is available in your 866 or 877 accounts, which your group's Financial Contact can do via his/her e-portfolio. Or verify that you actually received alternative funds from a department contribution; you can do this by contacting the WSA Administrator. Please, if you are being reimbursed as a student, it would be beneficial to account payable office if they could just mail your payment to your campus mailbox.
The financial request form and receipts/invoices must be submitted on or before noon on WEDNESDAY in order to have a check available normally within 7 business days. Holidays will affect the check run, so if you submit your form on or around a holiday you will receive a check normally within 14 days. If the form is not filled out properly or submitted with the necessary receipts/invoices, your reimbursement and/or payment will be delayed.
Also, never pay an individual or 3rd party vendor with cash or a personal check. In cooperation with the IRS, students and employees are not allowed to pay an individual or company that is not Incorporated for services or rental fees. Because this is an IRS policy, which must be adhered to by the University, we will not be able to reimburse you in this case.
Financial Requests for Honorarium
If you need a check for a speaker or performer, you will need to provide the original copy of a contract, the home address(es), and either the social security number(s) of the person(s) being paid or the federal ID number of the organization the person(s) are working with. This is in compliance with IRS regulations pertaining to Wesleyan as a non-profit organization. We cannot process a check without this information. Please submit your request at least four to six weeks before it is needed.
Financial requests cannot be submitted for student bands, DJs or speakers. They must be paid through student payroll on a white time sheet (i.e. each band member's name, Wes ID number, and amount paid must be submitted before or after the event). Faculty and Staff must also be paid on timesheets (available at the WSA Office). You can obtain timesheets from the WSA Administrator. Never pay an individual or 3rd party vendor with cash or a personal check. Students and employees are not allowed to pay individuals or a company that is not Incorporated for services rendered or rental fees. This is an IRS policy that must be adhered to by the University, in which case we will not be able to reimburse you.
Financial Request for Travel Expenses
In order to request reimbursement for travel expenses you must fill out a Financial Request Form, which authorizes us to take money out of your group account. You must attach a printed copy of the Mapquest directions (including the total mileage) to the Financial Request Form, or the request will not be processed. It must also be signed by the authorized representative for your group (the Financial Contact or Treasurer). Before submitting the form, please ensure that the requested amount of money is available in your 866 or 877 accounts, or verify that you actually received alternative funds from a department contribution by contacting the WSA Administrator.
Never pay an individual or 3rd party vendor with cash or a personal check. Students and employees are not allowed to pay individuals or a company that is not Incorporated for services rendered or rental fees. This is an IRS policy that must be adhered to by the University, in which case we will not be able to reimburse you.
If you need a Wesleyan Contract drawn up for your honorarium, please complete the Contract Information Form and submit the Financial Request Form to the WSA Administrator or Student Activities Director. Both forms are available on the WSA website or in WSA main office. If you are hiring individuals who fit at least one of the following criteria, we will need them to provide the following information. See below.
- U.S. citizen: must provide a Social Security Number and home address from which federal taxes are received.
- Permanent Resident: must complete a W-9 form and provide a copy of their Resident Alien/Green Card and social security number.
- Non U.S Citizens: must complete a Foreign National Information Form (FNIF) and submit a copy of their passport and visa.
- Note: The WSA Administrator or Student Activities Director will provide the proper forms, assuming that they produce a Wesleyan contract for your honorarium. Please schedule an appointment with either the WSA Administrator or the Student Activities Director at least four to six weeks before your event.
All of your student group's income must be deposited into its group account, even if the group plans to spend the money soon after. It is to the group's advantage to deposit money into their account – the acquisition of income through fundraising and other independent means shows the SBC that your group has made efforts to raise money outside of relying on SBC allocations.
You should complete a deposit slip and bring any deposits to the WSA office. Please expect to spend 10 to 15 minutes in the WSA office so you can be present while the deposit is counted by the WSA Administrator or his/her office staff. DEPOSITS MUST BE DONE MONDAY THROUGH FRIDAY BETWEEN 9 AM AND 4 PM — AT NO TIME SHOULD CASH OR CHECKS BE LEFT UNDER THE WSA OFFICE DOOR, NOR SHOULD CASH BE KEPT IN YOUR ROOM!
After the designated hours, cash can be taken to the Public Safety office for temporary deposit in a safe. The supervisor in charge will place the deposit into a bank bag; lock the bag and give you the key. You must bring the key to the WSA Administrator the next day, so s/he can retrieve the funds to make the official deposit during WSA office hours. YOU WILL BE HELD PERSONALLY RESPONSIBLE FOR ANY CASH OR CHECKS LOST BECAUSE YOU DID NOT FOLLOW THESE PROCEDURES. IF YOU LOSE THE KEY, YOU WILL BE CHARGED $10 DOLLAR FEE TO REPLACE IT.
A purchase order is a form that acts as a legal promise between a student group and a vendor or company that promises payment. These can make your student group's life a lot easier because they are accepted by vendors and companies like cash. Purchase orders are required by many film, sound and lighting companies. To obtain a form, see the WSA administrator at the WSA Office, and s/he can help you fill it out. Then you should submit a copy of the purchase order to the vendor/company, and they will normally forward you a bill at a later date. Don't forget to complete a Financial Request Form once you receive the bill.
All bills must be mailed directly to the Wesleyan Student Assembly (190 High Street, Middletown, CT 06459). Please include your group's name, the contact person and telephone/cell phone number on the bill/invoice. A Financial Request Form must be submitted with the bill/invoice in order to be processed. DO NOT ask stores to send bills to you at your campus address.
Certain expenses are “hidden” (i.e. your group will be billed without your explicit request). Such billing is referred to as "interdepartmental charges" and is carried out by Public Safety, the Audio Visual Department, and Wes Station (for postage), as well as Physical Plant and the CFA staff when you use their services. They perform an electronic financial transaction that can automatically debit your group account. We ask that a group treasurer, referred to as the Financial Contact, review the group's accounts periodically because expenses can be charged to your group, of which you may not be aware.
All types of transfers must be signed by the authorized group representative (the Financial Contact) and approved by the SBC. You must complete the Transfer Request form; place it in the SBC mailbox, and notify your SBC contact person that you are making a transfer request to move funds. Please note that this does not guarantee that your transfer request will be approved. When transfers take place, no actual check or cash is transferred. It will take the WSA Office 2 to 3 business days to process an approved request. The amounts are just credited/debited to and from accounts electronically. Forms for transfer requests are available at the WSA Office or on the WSA website.
There are three kinds of transfers you can make:
- Between WSA groups;
- Between a WSA group and another university department or office;
- Within your group, from one sub-account to another.
WSA Credit Card
Student groups have access to the WSA commercial credit card. They must have money in their 866xxx or 877xxx account or must verify that they have acquired alternative sources of funding through the department contribution process before making use of the credit card. Verifications of contributions can be made by contacting the WSA administrator. Please contact the WSA Administrator to make an appointment to use the commercial credit card at least 24 hours ahead of time. It will take approximately 15 to 30 minutes depending on the transaction, so please allow time in your schedule for this type of appointment.
“Quick Steps” gives you a summary of information at a glance. It explains how to create and receive recognition for a student group, request funding, payment, or reimbursement, reserve a venue, and request a contract for an honorarium.
- To register your student group, go to your student portfolio and click on "My Home Page." Under WSA news, you will see a link called "WSA Group Registration." Click on the link and follow the instructions on the top of the page.
- To apply for funding through the SBC, you must meet with the SBC. They meet on Mondays at the WSA office between 4:15 and 6:15. Your group representative must fill out an Allocation Request Form prior to meeting with the SBC.
- Or to seek alternative funding, your group must refer to an academic or administrative department within the University, but outside of the WSA. You must have the department complete the electronic Department Contribution form. You can either direct them to the WSA website or provide the following link: http://www.wesleyan.edu/wsa/contributionform.html
- If applicable, be sure to reserve your venue through the Student Activities Office at least 3 days before your event or sooner. Contact Student Activities directly for further details.
- To be reimbursed for expenses incurred by your student group you must complete a Financial Request Form, attach the original receipt and/or documentation to it, and submit all paperwork to the WSA Office. Please place paperwork in the "Completed Financial Request Forms" box.
- To request payment for an honorarium, complete a Financial Request Form and Contract Template. Submit both documents to the WSA Office or the Student Activities Office. An official Wesleyan Contract will be processed after both forms are submitted and mailed out to the artist by the Wesleyan Student Assembly Administrator or Student Activities Director. Once the signed contract has been returned, the paperwork will be processed for payment.
Or to request payment for a vendor, rental facility, etc. submit original invoice along with a Financial Request Form to WSA Office.