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P&S Club Financial Procedures
To view the packet of information about the reimbursement process from the New Leader retreat,
please click here.
Budgets
- Budgets were determined based on each group’s
- Budget request
- Previous year’s expenses & revenue
- Projected expenses & revenue for upcoming year
- Group’s participation in P&S Club events and overall presence (Fund Appeal, leader meetings, communication with P&S Club)
- If no proposal is submitted but the group has been active, the budget will be $100; for groups that have been inactive and have
not submitted a budget proposal, no budget will be allocated.
- “Good idea” fund is reserved for new, collaborative projects
- To use the fund, the following steps must be taken:
- Project investigators discussed idea with Andrea
- Detailed project proposal must be submitted to Andrea
- Proposal discussed and voted by P&S Club Cabinet members
- Project investigators given feedback and notified of award and award conditions
- It is the responsibility of each organization to communicate with the P&S Club throughout the year regarding its financial status.
Mid-year budget meetings are strongly encouraged.
- All financial activity that is not recorded by the P&S Club (via Andrea) will not be considered in the following year’s budgeting
process. (I.e. if your group collects dues to pay for certain expenses but does not record this with the P&S Club, the Club will not
recognize that the expenses occurred.)
Specialty Interest Groups
- Each group will be given a minimal budget from the P&S Club of $50/year for basic supplies.
- Each group is responsible for maintaining the relationship with its corresponding department for professional and financial support.
- Additional funds are available for large-scale events. The sponsoring groups need to submit an event proposal with budget proposal
to the P&S Club AT LEAST one month prior to the event.
Reimbursements
- All reimbursed funds MUST be covered by an organization’s budget; if the organization does not have sufficient funding, the
reimbursement will be denied.
- Please note that receipts MUST be submitted to the P&S Club within 90 days from the date the expense has been incurred. Receipts submitted after 90 days may not be reimbursed.
- All reimbursements must be accompanied by a signed receipt. If a credit card was used, the card holder must claim the reimbursement.
- Petty cash can be used if the following criteria are met:
- The receipt is under $80.00.
- The purchase was paid with cash (no debit cards!).
- Alcohol or electronic equipment was not purchased.
- For items that do not meet the above criteria, a Travel and Business Expense (
TBE
) form must be completed. A check will be sent to the
individual who made the purchase in 3-4 weeks.
-
TBE
forms can be downloaded at http://psclub.columbia.edu/clubs/leaders/TBE.pdf
- Honoria for speakers, referees, or other need to be discussed with Andrea ahead of time.
Large Purchases
- No club leader or club member should be expected to make large purchases and bear the financial burden of covering the cost up-front! To avoid this
scenario, PLAN AHEAD and follow the steps below.
- Determine the exact items needed and the vendor that supplies the goods.
- Contact the vendor and ask for a quote for Columbia University for a purchase order.
- Submit the quote to the P&S Club along with your contact information in case questions arise.
- A purchase order will be created and faxed to the vendor directly. This will allow the vendor to directly bill the P&S Club without any money
leaving your pockets.
- The following procedure takes 2-3 weeks so please plan accordingly!
- However, emergencies and last minute purchases happen. When they do, contact Andrea as soon as possible to attempt to avoid uncomfortable
financial situations!
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