open-goverance/Committee/2021-2022/Handovers/Treasurer.md

President

The purpose of this document is to assist the incoming CompSoc Public Relations Officer for the AY 2022/23

Duties:

The duties of the Treasurer of CompSoc are to record income and expenditure, and to manage the use of the society’s bank account and online banking facilities. This involves the following tasks:

• Changing the bank mandate at the beginning of the semester (could take a while as BOI are annoying)
• Changing the online banking admin details (Currently Leo and Eve are the admins)
• Collecting ALL receipts for all income and expenditure (very important)
• Recording all income and expenditure on wolves.ie
• Uploading copies of all receipts to the online budget
• Collecting bank statements and other post, from our pigeonhole in the C&S room (up the stairs in the SU, first door on the right (double doors), on the right hand side of the wall in a cupboard)
• Keeping bank documents and records in order, upload to wolves as well
• Collecting membership fees and other payments from members of the society (best to use bank transfers for any large payments, avoid cash if you can)
• Doing the annual Budget at the end of the academic year (very important, so we get a budget the next year)

Guide

Treasurer’s workshops are held near the beginning of each semester and are quite useful. These workshops are useful to learn about the budgeting system, and they also count towards budget points. As Treasurer, you are responsible for everything related to finance within the society. You will weigh in and ensure that the society doesn't waste money, but instead focus on spending money on one event and improving the society. A €1000 drone may be not be very useful, but getting that much worth of raspberry pi kits or electronics kits to run events with may be more useful etc.

Banking-Mandate+AdminSetup

The first thing that you should do after the AGM is change the bank mandate which will be made up of the newly elected core committee (President, Secretary and Treasurer), this is essential in order to access funds. BOI like to change the forms that are required to do this all the time, so what might be correct one month, will be the wrong form the next month. You do not need to fill out Credit Card application / Debit card application sections. The bank account we have is an Unincorporated Bodies account. The best bet is to go to the bank in person and get the correct form from them, Paul, Aisling and Lisa may also send it out in an email. BOI may not email/text/notify you that it has gone through, so you will need to contact them to check up on it and make sure it’s being worked on. Then online banking should be setup. The way of doing this changes as well unfortunately. Currently, Leo and Eve are admins for the account. They can add users who can access the business online banking. Currently, the Approval app is used for that. You will want to change the admins after sorting out the mandate. Choose two people from core who will be with the society for the next year as this makes it easier to keep access to the account. There is a change of Admins form where you fill in the current admin details and the new admin details, and then you go into the bank with this. Then the two admins will need to call and activate their accounts, it helps if they are in the same place as they will need to enter a code together.

Receipts+Expenditure

Throughout the year you must ensure that every expense that the society has is accompanied by a receipt. No matter how small/large it must have a receipt. An amazon purchase, something from a shop, receipts from a foreign trip, you must save everything. Take photos/scans as soon as possible of the receipts and upload them straight away to wolves, that way you can’t lose/forget about them.

To be a valid receipt, it MUST HAVE: Date, Price and should say PAID. Try to have it in Euros or get the amount charged in euro from the bank account that paid it to accompany it. If it says Invoice, it must say paid on it to be valid (unfortunately places incorrectly call receipts invoices). In the online budget system every expenditure is accompanied by a digital receipt which will be reviewed throughout the year and approved and denied if a receipt is denied then you need to go and talk to Lisa about why it was denied and what you can do to fix it. (It might take a while for things to be approved/denied, that’s fine, just keep up to date with your receipts and upload as you go, don’t wait till the end of the year).

Handling Cash

There are THREE CASH BOXES in the server room, one is where we keep petty cash and the other is where we keep physical receipts from this year, sorted cash/coins from events, and the spare server room key, and it’s logbook. Neither cash box has a lock but as they are kept exclusively in the locked server room it doesn't matter. The THIRD cash box is to be used for events. It has a key, so it stays closed, it is not very secure and should be kept safe, watched, and not left unattended. It is intended for collecting €2 from everyone for a code-off for example and then emptied at the end of the night into a Ziploc bag or something to sort for depositing.

Income

All cash should be deposited into the bank account. There is a QUICK LODGE CARD in one of the lock boxes, it can be used to deposit notes into the bank account. Loose change needs to be sorted into bags of €50 for €2 etc., it’s best to wait for coins until later on in the semester, so you can group them better. You may need to personally just swap €10 of mixed coins for a €10 note. The bank only accepts coins on certain days. UPLOAD the receipt to wolves for the income. For any sponsorships, get an invoice stating the amount sponsored for wolves. Use the current date as the invoice id. Ask the president for the template. CompSoc Internal Invoice Number: #YYYYMMDD

Sponsorships

We try to get sponsored by companies for our events which help our budget. Red bull typically sponsor our code-off every year with a donation of cans. Aristea Networks Ireland started to sponsor us this year and want to partner with us for sponsoring prizes for events / hoodies etc. Emer O’Kelly eokelly@arista.com is the point of contact. Analog devices have sponsored €400 towards hoodies for us in the past. The UL ECE department sponsored part of the cost to visit an AI conference as well.

Recruitment Drive Payment

The society receives €2,500 each year from C&S for our services at the Recruitment Drives, when the January drive is completed you need to issue the C&S office with an invoice for €2,500 for “I.T. Services at the C&S Recruitment Drives”. From time to time we get paid for things by companies and departments in UL for these invoices also need to be issued in the same way. When dealing with UL for money our UL supplier ID is 14521, this number must be provided on any invoice submitted to UL. We are an approved supplier to UL, and they use this number to pay us. There should be invoice templates on the Google Drive or ask the President as they are in the documents section of the Presidents folder

BankAccountsBestPractices

Try to keep a minimum of €1000->€2000 in the bank account at all times. It’s useful for making purchases without having to wait for capitations to open in October. We also use it to float purchases until capitations come through. Try not to use this money unless you know it will be replenished. Get capitations as soon as possible to replenish it.

Paypal

We do have a PayPal account, it’s too much hassle to keep using it / access it, try to avoid it.

Alumni

Alumni pay membership fees as a bank transfer for 5-year accounts. If they pay on wolves it’s only a year.

Summary

To summarise the Treasurer is one of the most important roles on the committee because without money the society would cease to function. It can be a difficult role, but it is a very rewarding one. Make sure to keep track of all the society’s income and expenditure and have the receipts and bank statements to back up what you have submitted. Good luck with your new role, should you need any help you can contact me on discord, or you can have a look at the other treasurer handover documents that are available on wolves.