Finances Committee/SAFAC/Purchasing

From Drexel Smart House

Contents 1 Purchasing Overview 2 Cash Reimbursements 2.1 Cash Request Form 2.2 Cash Reimbursement Process 3 Check Requests 3.1 Check Request Form 3.2 Check Request Process 4 Purchase Orders 4.1 Purchase Order Form 4.2 Purchase Order Process 5 Unprocessed Orders and Requests 6 Deposits to Account 6.1 Cash Receipt Deposit Voucher Form 6.2 17-SAFAC DEPOSITS 6.3 71-ROLLOVER DEPOSITS

Purchasing Overview

Student organizations have three options in accessing their 17-SAFAC and 71-Rollover funds:

• Students can request to have purchases made on the SAFAC Advisor's credit card
• Students can request to have a check processed from their accounts and mailed to pay for merchandise or services
• Students can pay for the services or merchandise and get reimbursed from their accounts

Cash Reimbursements

Students who choose to pay for merchandise or services and use cash up to $100.00 can be reimbursed cash.

Cash Request Form

Cash Reimbursement Process

• Complete the Drexel University Cash Request form
  

• Must be signed by the President and/or the Treasurer
  
• Must be submitted to the SAFAC Advisor in GSDC Room 32A Along with all original receipts
  

• Students will receive notification within 1-2 business days to pick up their completed and signed cash reimbursement form.
  
• Students will need to take the completed cash reimbursement form to the Cashier's Office and will receive their cash on hand.
  
• Note: The entire process should take no more than 2 Business Days to complete.
  

Check Requests

Check Requests are used to reimburse students for purchases made with credit or debit card or cash over $100.00. Check Requests are also used to pay for merchandise and services where credit card is not accepted and students do not want to pay out-of-pocket.

Check Request Form

Check Request Process

• Complete the Drexel University Check Request form.

• Must be signed by the President and/or Treasurer.
• [Purchases over $500 require Advisor signature].
• Must submit completed Student organization Purchase Form to the SAFAC Advisor in GSDC room 32A along with all necessary documentation

• Original Receipts [receipts should be taped to a sheet of blank paper 1-sided]
• Invoices [Accounts Payable does not accept statements]
• Credit Card Statement [only if the student does not have the original receipt. All information should be blacked out with the company name and purchase amount the only readable information]
• Copies of cashed checks. If a payment was made with a check, a copy of the front and back of the cashed check is required by Accounts Payable. Online bank print-outs are acceptable.
• OCA completed signed contract
• Hotel folios to get reimbursed lodging
• Rental Car contracts to get reimbursed for rental vehicle usage.

• The SAFAC Advisor will complete the check request within 1-2 business days after receipt. The completed request will be sent to Accounts Payable located in 3201 Arch St.
• Accounts Payable will cut a check within 7-10 business days after receiving the request. The check will take an additional 5-7 business days to receive in the mail.
• Note: If a check is not received within 15-17 business days the SAFAC Advisor should be contacted and informed.
• Note: Please be sure that when completing a Purchase Form for reimbursement purposes to supply your home address.

Purchase Orders

The SAFAC Advisor has a credit card which is used to purchase services, travel arrangements, and merchandise for student organizations. It is highly recommended student organizations take advantage of this resource to limit the amount of out-of-pocket expenses students cover.

Purchase Order Form

Purchase Order Process

• Complete the Drexel University Request to Purchase form.

• Must be signed by the President and/or Treasurer. [Purchases over $500 require Advisor signature].
• Submit completed Student organization Purchase Form to the SAFAC Advisor in GSDC room 32A along with all necessary documentation:

• Quotes
• Statements
• Invoices
• Online Printouts
• Log-in Information for Registration Sites

• The SAFAC Advisor will process the order and payment within 1-2 business days after receipt.
• All merchandise will be shipped to your organizations’ name at the Office of Campus Activities.

• Note: There is a $2,500 per purchase limit. If your order exceeds $2,500 it will take an additional 1-3 business days to processes.
• Note: Any order between $2,500 - $4,999 will require one additional competition quote. Any order over $5,000 will require two additional competition quotes. Failure to submit competition quotes along with your order will cause your order to be unprocessed.

Unprocessed Orders and Requests

If a cash reimbursement, a check request, or a purchase order cannot be processed the student organization will receive an email with an attached cover sheet and a copy of their request detailing why it cannot be processed. Some common reasons are:

• Missing documentation
• Accounts Payable Requests More Information
• Errors on original submitted paperwork
  

Once a an unprocessed request email is sent, the request will be placed in a holding folder until the organization supplies the information requested in the cover letter.

Deposits to Account

Any money earned through fundraising, donations, or dues belongs to the organization at Drexel University. All income must be deposited in either a student organizations 17-SAFAC or 71-Rollover account.

Cash Receipt Deposit Voucher Form

17-SAFAC DEPOSITS

Student organizations will deposit money into their 17-SAFAC account only if SAFAC funds were used to cover the expenses for fundraising activities and only the amount funded from the 17-SAFAC account will be deposited back into the 17-SAFAC account.

• Example 1: Organization uses $300 from the 17-SAFAC account to buy t-shirts. The organization raises $700 in t-shirt sales. $300 must be deposited back into the 17-SAFAC account. The remaining $400 is the organizations personal profit and must be deposited into the 71-Rollover account.
• Example 2: Organization uses $300 from the 17-SAFAC account to buy t-shirts. The organization raises $200 in t-shirt sales. All $200 must be deposited back into the 17-SAFAC account and no personal profit exists to deposit into the organizations 71-Rollover account.

71-ROLLOVER DEPOSITS

• Student organizations will deposit all dues and donations into their 71-Rollover account.
• All fundraising money, after a 17-SAFAC recovery (see 17-SAFAC Deposits policy), will be deposited into a student organizations 71- Rollover account.