Organization Finances

Financial Plan and Budget

Student organizations should prepare financial plans and budgets every semester.
Preparing financial plans and budget helps the members gain efficient management skills in order to evaluate the organization’s plans, allocate resources efficiently, and monitor the actual revenues and expenditures.
Any funds from must be kept in a club/society books. Since clubs officers regularly handle cash from events and memberships fees, and take funds from PMU, a record must be kept of all financial transactions. An electronic spreadsheet must keep track of all monies incoming and spent, as well as the dates on which the transactions occurred, its source, and the particulars of the transaction, (such as the reason for the payment).

Keeping all receipts is necessary in order to claim any PMU funding, as well as to document the organization expenses for various purposes.
PMU student organizations are not-for-profit organizations, therefore all financial transactions must be transparent, and the organization’s officers must be accountable for them. This means that money must be spent ethically, in ways which directly support the mission of the organization. The Department of Campus Life may audit organizations at any time, and the treasurer must therefore keep track of all transactions, ensure they are all dated and make it available for audit within 5 days from the day of the request.

Organizations Fund Request

To be eligible for PMU funding, a student organization must provide services, activities and events that are educational and offer recreational opportunities appropriate to the PMU
community. The organization’s president and treasurer shall fill in a Request for Funding Form, co-sign it and submit it to the Department of Campus Life within the deadlines announced. Eligibility for funding necessitates a sound financial history.
The organization shall keep all original receipts for the amounts spent during any approved event/activity. All receipts must be submitted to the Department of Campus Life Office, no later than two weeks after the event/activity. If receipts are not turned in, the organization may be placed on probation.