General Financial Information 

  • I'm the Financial Manager. Now What?

    All student groups have a treasurer or financial manager that will oversee all financial transactions for the group. They are responsible for managing the group's finances, authorizing all group activities, and signing all financial documents. They should know what events are being sponsored by the organization, what items are needed for each event, and which member of the group is responsible for various events and/or activities. Also, they should be in consent communication with the administrator(s) of the organization to ensure that the logistics of any event runs smoothly.


    FINANCIAL MANAGER RESPONSIBILITIES:

    All Financial Managers are required to go to the trainings lead by the WSA Finance Office.  They are held at the beginning of each semester and there is a smaller one held mid-semester to train newly formed groups.  These trainings are vitally important for the financial success of your student group. Financial Managers must be retrained every year because university policies can and will change. 

    The following is a list of the primary responsibilities of the financial manager:

    • Only one financial manager should be assigned to manage the treasury for a student group on OrgSync.
    • Financial paperwork will not be accepted if there are more than one financial manager listed. 
    • You keep track of the external and interdepartmental expenses. 
    • You complete and sign all financial request forms and timesheets for the group.
    • You review the student group financial data through the Checkbook link in OrgSync.
    • Any person with administrative privilege for a student group can access the OrgSync treasury report.
    • You must adhere to all notices regarding deadlines, policy and procedures, and other important information. Relay all pertinent material to members in their group.
       

    ADMINISTRATOR RESPONSIBILITIES:

    All Administrators manage the student group and works in conjunction with the financial manager. They are responsible for group registration, event planning, membership logs, promoting group events and activities, communicating university policies and procedures to members, networks with alumni and prospective students.

    The following is a list of the primary responsibilities of the administrator:

    • You handle all logistics for group membership management and group activities.
    • You plan meetings, set the agendas and reserve meeting rooms.
    • You must maintain the student organization records and store them on OrgSync.
    • You must cross train the new administrators who succeeds you in position if you step down. 
    • You are the primary contact person for the group.
  • How do I Begin?

    The following steps need to happen before you request funding for your student group:

    1. Re-register your group on OrgSync if you are a pre-existing group every academic year. 
    2. Go to Financial Manager training 
    3. Familiarize yourself Student Group Waivers and submit them if they are applicable to your group. These should be resubmitted every year.
      1. Group travel forms - if you group travels off campus.
      2. Athletic Form - if your group is an athletic team. 
    4. Reserve room, if needed
    5. Apply for funding, if needed. (Instructions below)
    6. If you are paying someone like a coach or a outside service, submit a W-9 (US citizen) or W-8 (non-US citizen) as soon as possible. 
  • What is OrgSync

    OrgSync is the main platform of information for and about student groups.  Here is where you can reregister your student group, check your student group’s finances, send out messages to people in your group, request funding from the Student Budgeting Committee, and submit contract requests.

    To log on you your student group page:

    1. Log into your Wesportal
    2. Select “Offices & Services”
    3. Go to "Student Life"
    4. Select "OrgSync"
    5. Log in with your Wesleyan username and password if you are not already logged in
    6. Search your student groups name in the search bar
    7. Click on your student group and you will arrive on your student group page
  • What are My Funding Options?
    There are three major funding sources for student groups on campus: Student Budget Committee, Income, and Department funding.  What you need the funding for
  • How Do I Get Funding?
    There are three major sources of funding for students groups on campus.  The Student Budgeting Committee and Concert Committee, Income Funding, and Department Funding. Any active student group can request or use money from any of these funding sources but depending on the type of student group, some funding sources might be more applicable than other. 

    SBC or CC Budget Requests

    All students and group leaders request funding to support their events and activities through the WSA.  There are two committees who oversee finances in the 

    SBC or CC Budget Requests are submitted through your student portfolio. Once it's approved, the amount is transferred as electronic dollars into your student group's 1101113xxx SBC  or  CC Smartkey under specific account codes. 

    Income

    You can have income from the previous year, commonly known as a "carry forward," transferred into the new fiscal year Income Smartkey. *Normally the University allows the balance of a student group's 1111113xxx INCOME Smartkey from the previous year to be used by the group the following year. It's placed in account code 72004.

    Your student organization can generate income during the current school year. This income is reflected in the student group's 1111113xxx INCOME Smartkey under account code 70360 after the group's treasurer submits a Deposit Form to the WSA Administrative Office. Account codes in Income Smartkeys all begin with the number seven. For example, if you are making a deposit, the account code would be 70360.

    Campus Department Funding

    You can ask a chair or department head of an administrative or academic department to co-sponsor your event during the current school year.

     

    SBC funding flow chart           CC Funding Flow chart         GF Funding Flow Chart

  • What are Electronic Dollars?

    The Student Activities Fee (SAF) is managed through an electronic system. Money is moved between Smartkeys electronically, so we do not deal with actual dollars.

    For example, if your student group requests money from the Student Budget Committee (SBC) and your request is approved, the SBC will submit a list of financial requests electronically to the WSA Administrator, who then enters the data into a budget management system. The information is then uploaded into OrgSync, which all financial contacts (treasurers) have full access to if their group is active.

  • How Do I Buy Things for My Student Group?

    Since Wesleyan works using electronic money there are three major ways students can purchase items for their group after money has been allocated to their account. 

    Reimbursements

    This is the most common way that students buy items for their student groups.  A student can spend their own money on an item and then turn in the itemized receipt with a proof of purchases attached to a financial request form (FRF) to the WSA Office.  The student will they receive a reimbursement through direct deposit into their personal accounts. 

    Things to be aware of:

    • Students and faculty cannot be reimbursed for paying people directly for a service. This is considered a third party payment and is prohibited by the university. These services need to be paid for using an invoice (see explanation below). 

    • Students and faculty cannot be reimbursed for rentals or services if the company is an LLC.  These should be paid for suing an invoice (see explanation below).

    • All receipts should be itemized and have a proof of payment. This will be the last four digits of your credit card or the word "cash" if they paid for the items with cash. 

    • If the person is a grad student please specify this on the FRF.

    • Non-student or faculty may be reimbursed for purchasing items however they will need to submit a W-9 to our office prior to submitting an FRF.

    Invoice

    If you are paying for the service of a person like a coach or instructor, they should create an invoice for the work done for the group.  This should include a brief description of the service, the number of hours worked, the amount of money to be paid, a date, and the coach's signature. Invoices can also be submitted for things like conference fees, equipment rentals, and other orders. Instead of paying the person or company out of pocket, the invoice should be brought to the office with a completed financial request form and submitted to an Office Assistant. 

    Things to be aware of:

    • If it is the first time that you are paying this person, make sure that you have them fill out a W-9 and submit this to our office at least five business days prior to submitting the invoice. 

    • If your someone outside the university wants to pay another outside contractor for your student group, they must also submit an invoice to pay that person. 

    Credit Card Appointment

    If you are planning to make a large purchase or you want to order items from a company which is an LLC, students can make an appointment to use the WSA Office Credit Card. Appointment can be made on our website and should be done at least 24 hours before.  Appointment schedules vary by semester so check the page to see what hours are open.  Financial Managers or a representative from the group may make credit card appointment for their group. Before the meeting, the student making the appointment should send a list of links or contact information to wsaom@wesleyan.edu . 

    Things to be aware of:

    • If the order amount is over $2,000 you must email wsaom@wesleyan.edu at least a week before and you may be asked to split the order into multiple appointments. 

    • The amount you plan to use must be in your orgsync treasury account prior to the credit card appointment or else orders cannot be made.

    • Each appointment is 20 minutes long, so if you anticipate that your order will take over 20 minutes you may want to book multiple appointments.

    • The money spent using the Credit Card will not be removed from your account until around a month after the purchase is made so make sure that you do not  over withdraw your budgets. 

  • How are Expenses Charged to My Smartkeys?

    When a student group spends money, its expenses will always be charged to the specific Smartkey code that best reflects the nature of the expense. 

    If the expense is funded by an SBC or CC Budget Request then the expense should be charged to the student group's 1101113xxx SBC or CC Smartkey under the account 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 1111113xxx INCOME Smartkey under the account code which best reflects the nature of the expense. 

    If the expense is funded by another department within Wesleyan then the department will transfer funds into the group's 1001113xxx DEPARTMENT Smartkey and the expense should be charged directly to the group 's department Smartkey.  

    *Note: It is possible that one particular invoice or expense may need to be split across any or all three Smartkeys listed above.

  • How Do I Know How Much Money My Group Has?

    The OrgSync System is an electronic group management system that keeps track of your members, events and student group finances online. In order to access the Checkbook your group must be officially registered by the Community Committee (COCo). 

    Your group should also assign one currently enrolled undergraduate as the Financial Contact person; this person will be able to access your student group's Smartkey(s) through the e-portfolio system by following the instructions below.

    1. Log into your student portfolio

    2. Select "My Student Portfolio"

    3. Go to "Student Life"

    4. Select "OrgSync"

    5. Select the "Treasury" link, then select "Checkbooks"

    6. Review your budget allocations here

  • How are Funds Maintained?

    Once you have registered a student organization and it becomes active, three Smartkey Numbers are automatically assigned to your group.

    Your funds are maintained through these Smartkeys Numbers, which can be used to charge bills, reserve most Wesleyan facilities, rent University audiovisual equipment, make a payment to vendors and honoraria, in addition to a gamut of other services here at Wesleyan. While you should guard your Smartkey number carefully, the WSA Administrator or the administrative team will be able to provide your group's Smartkey numbers, if they have been misplaced.

  • What is a Smartkey Number?

    A Smartkey Number is a ten-digit account number used by the University to keep track of financial transactions. Your student organization is identified by the Smartkey number and is utilized to record all expenses and revenue, so your group can keep track of your expenditures. Student groups can request an SBC allocation for SAF funds; they can generate revenue, which is automatically put into an Income Smartkey or obtain funds from an administrative or academic department, which are put into the Department Smartkey. 

    Once your student group is registered and active, it will automatically be assigned three Smartkey numbers: the SBC, Income and Department Smartkey Numbers. Note: The Student Budget Committee (SBC) shares the same smartkey with the Concert Committee (CC).

     

    Types of Smartkeys

     Each Smartkey starts with a different 3-digit prefix, 4-digit department number and a three digit group number which identifies the organization. For example, if the student group, Wesleyan Flower is assigned the group number "123", the Smartkey Numbers will be as follows.

    Department Smartkey: 100-1113-123
    SBC Smartkey: 110-1113-123
    Income Smartkey: 111-1113-123
     
    The Department Smartkey prefix is 100, the SBC Smartkey prefix is 110 and the Income Smartkey prefix is 111. Note: the last seven digits are always the same.

    Outside of the major three Smartkeys, student groups may also need to use Green Fund or Concert Committee funding.  These Smartkeys would look as follows for the Wesleyan Flower club. 

    Green Fund: 112-1113-123

    Concert Committee: 110-1113-999

    *Concert Committee is the only Smartkey that does not use an organization's number. 

  • What is an Account Code?

    An account code is five digits. It is used to categorize income and expenses by type. Account codes are used for generic expense classifications such as supplies, membership dues, travel, etc.

    Although there are hundreds of account codes available, the WSA Administrative Office uses approximately 30 account codes. You can find a list of account codes on the back of the Financial Request Form or the online. Both forms can be found on WSA Office website or in the office located in Usdan 104. Below is the list of the most commonly used WSA account codes.

  • Account Code List

    Here is a list of commonly used account codes.  If you do not see one on here that describes the item or service you are purchasing, email wsaoffice@wesleyan.edu or come into the office to ask an Office Assistant for help. 

     

    Account Code

    Account Code Description

    81600

    Student

    82101

    Supplies

    82201

    Subscriptions

    82250

    Organization/League Dues

    84560

    Conference Fees

    82400

    Computer Supplies

    82450

    Other

    82580

    Mail/Postage

    82600

    Telephone

    82640

    Food and Drink

    82611

    Athletic Training Supplies

    82915

    Athletic Officials

    82916

    Athletic Entry Fees

    82919

    Athletic Uniforms

    83404

    Outside Printing

    83900

    Outside Services

    83570

    Honorarium

    84501

    Mileage (used for gas reimbursements)

    84512

    Rail

    84505

    Airfare

    84520

    Lodging

    85010

    Equipment Rental (for outside equipment only)

    85040

    Capital Item: $1000-5000

    85045

    Capital Item: Greater than $5000

    85050

    Capital Item: Less than $1000

    85101

    Box Office Ticketing

    85408

    Costumes

    85421

    Film Rights

  • What is a BR number?
    A BR number, or a budget request number, is a seven digit number that corresponds to budget request that was made to the student budgeting committee.  This number can be found on the approved budget on the treasury page of your groups orgsync. BR numbers are only used for money allocated from the SBC.
  • Department Contributions

    You can request funds through alternative sources (other than the SBC or CC) by contacting and requesting support from other departments on campus. Contact the department that will most likely support your request and ask them complete an open docs journal transfer to your Department-funded Smartkey.

    It is important that you provide the department with the following information when you make your request, so that they can properly complete the online journal.

    Required information that student should provide departments:
    - Name of Student Group: 

    - Student Group Smartkey Number:

    - Name of Event: 

    - Purpose of Event:

    - Event Start Date: 

    - Event End Date: 

    - Student Name: 

    - Student Email Address: 

    - Student Cellphone: 

  • Financial Forms
    The WSA Office has a variety of forms to assist student group leaders with acquiring funds for payment and/or reimbursements. You can acquire the forms online by clicking this link or by picking up a hardcopy from the WSA Administrative