Student Treasury Rework

Better club funding via a reworked treasury system

Everyone loves clubs. They are diverse social experiences that bring a new depth to school that classes can't fill. However, they are distinctly lacking in one area: funding. As of right now, there is no structure or trustworthy system that can provide the clubs we love with the funds to enhance their events.

Our project attempts to imagine that structure and that system, giving club treasurers greater transparency and understanding of how much money they have and how best to use the funds they raised.

There is no other way to put this: BFHS has no working treasury system right now.

Franklin's current club treasury system doesn't work. Club finances are currently in a state of deep ambiguity. Treasurers have no way of knowing what their club balance looks like on their own; any questions/concerns brought up to officials are met with inconclusive ansThere is no other way to put this; BFHS has no working treasury system right now.wers. This confusion causes instability within clubs as finances are one of the most critical aspects in planning ahead for events and activities.

We spent countless hours brainstorming a working model for a club treasury system.

This model would need to be:

• Easy to implement

• Easy to use

• Easy to explain

We also hoped to allow the individual club treasurers to combine efforts.

A Club Finance Tracking Method

A New System to Track Our Finances

There are many ways to keep track of our clubs' costs, sales, and profits. We are proposing an online Google Sheet that the treasurer and sponsor can see.

Efficiency and Independence

By including students in the bookkeeping process, clubs could plan their expenses independently, without constantly needing to request updates on balances. A spreadsheet of expenses would show a broad scope of general club activity at a glance; with a little close inspection, insights into specific club activities would be available as well.

Longevity

We propose a system that builds institutional memory and promotes club continuity:

• Specific dates of fundraisers

• Chronological recordkeeping

• Comprehensible logs

Trade-offs

• Building new systems is time consuming.

• Security would need to be implemented. In the case of a shared google sheet, roles of verifying officials and data tracking experts would need to be assigned and tightly controlled.

Benefits

• Clubs would finally gain clarity on their financial situation, allowing them to plan their activities accordingly.

• Clubs and treasurers would practice valuable skills in money management, autonomy, and fiscal responsibility.

• Eliminates the need for multiple requests for balances throughout the year.

• The weight of confusion would be lifted from club treasurers, club members, and club sponsors, leading to overall increase in club morale