Treasurer

Requirements:

• Not a last-year student

This is an elected position

General Overview of What Needs to be Done:

Process For Managing Financials: 

1. 4 Weeks Before Semester
   1. Team Leads Submit Budget Requests 
   2. Leads should propose a rough BOM for their projects
   3. Plan for 25% variation
      
      Space Race: ~$750 /team: $1500 total
      IREC: ~$3000-$6000
      Propulsion: ~$2000-$5000
      
      
2.  2 Week Before Semester
   1. Treasurer Leads Budget Allocation Meeting with All Leads
   2. Teams Leads should discuss direction of team and what are financial needs to achieve
      1. Director of Outreach's goal is to raise $ and create corporate connections to support whether directly or in-kind.
3. 1 Week Before Semester
   1.  Team Budget is Established 
      
      
4. Financial Maintenance (All Semester) 
   
   1. Create Spreadsheet to Log All Purchases
      1. Remaining budget should be CLEAR at all times
   2. Treasurer is responsible for making sure that ALL purchases have been logged for all teams
      1. The individual making the purchase is responsible for adding the receipt to the financials google drive in 24 HRS
   3. Team leads are responsible for making sure that they able to complete their project in budget
      
      

As treasurer your job is to make sure we do not go broke and to buy the merchandise for the year.

Merchandise:
Check the Team Apparel page but for a short version email Mark Callari at mcallari@bsnsports.com saying you are with RIT Launch Initiative and want to open up the previous shop. I had issues with the emails sent to him so use a personal email and not your RIT email. He will most likely only want the store open for a week so make sure to advertise that. Screen printed items and embroidered items will need a minimum buy amount but because we have it as a fundraiser that may cover any deficit to hopefully allow for all items paid for to be filled.
Jackets I did not order but there is information on the team apparel page about it. We used a local place for them last time. I recommend starting the buying process of these EARLY.

Receipts:
Every month Vanessa will send out an email of the items purchased that month. Send her back email confirmation PDFs (easy way to download them is to attempt to print it and it allows for download) or just pictures of receipts if it was gotten in person. To keep track of any receipts go into the drive, make a new folder for the upcoming year to get there go Administrative -> Financials -> Receipts and make a new folder then make folders for each month.

Accounts:
Within the last pass account it has basically every single website we have made purchases on just use them and make sure that they have the most recent credit card info and are sending to RIT / The Constructs address.

In Person Purchasing:
When buying anything in person bring the text exempt form and make sure that we are not charged taxes RIT gets very mad.

Credit Card:

Record Keeping:
I made a quick financial sheet breaking down monthly purchases you can find in Administrative -> Financials and it's labeled Financial Report 2020-2021. It's easy to follow and keeps track of each team once you put in the purchases at the end of each month.

Potential Team Budgets:
Given we go through a lot of money and have been getting very little in we need to start budgeting better, there has never been put in place before so at the start of the year there should be an estimated amount of how much we can get in crowdfunding and sponsorships taking in account the amount left from the previous year and talk with all the project leads how much should be allocated to each team for the academic year. This should be tracked and made sure that the project leads do not overspend and buy things that they do not need or that we already have go over it and ask a lot of questions.
A rough initial budget for the year could be gauged off the amounts spent last year that I recorded and adjusted accordingly based on the influx of money to the team.