Contracts and Payments

Cash Events

If cash is being collected for events/activities managed through the MBA student clubs, club leaders must work with Meghan and Mary Kate to setup the cash collection process through the MBA Programs Office. An example would be: The partners club is going to a Gopher hockey game and tickets are $15 each. Partners Club will pay $10 per ticket and students will pay $5 cash for each ticket.

Step 1: Work with vendor to secure ticket price and purchasing details

Step 2: Email Mary Kate the details of your event: Date, time, contact at the ticket office, amount each student will be paying and the number of event tickets you need purchased

Step 3: Create a sign up Google doc for your event and share it with Meghan and Mary Kate

Step 4: Email students about your event and ask them to sign up to attend. You must include a sign up deadline.

Step 5: Once your sign up deadline has passed. Contact Meghan and Mary Kate to establish a cash collection start date

Step 6: Communicate cash collection date to RSVP list. Please make sure that students know they must bring exact cash (no checks) to the MBA Programs front desk

Step 7: All cash collected will be deposited into your club account in your restricted funds

Cash should not be collected and used to off-set any one student's own personal, out of pocket expenses, which eventually will be reimbursed by the MBAA or the MBA Programs Office. All cash collected should be submitted, per the process above, and any reimbursement request submitted accordingly, for event-related our of pocket expenses.

Payments

While planning events for student clubs and organizations you may have to purchase supplies, food, or work with a vendor. Below are your options for how payments can be made. For large purchases and purchases that aren’t time sensitive (event is more than a week away) you are encouraged to meet with Mary Kate to process the payment. When in doubt, email Mary Kate (misak001@umn.edu) to talk through your specific events and which option will be the best fit.

Option 1: You can pay yourself and get reimbursed

If you are comfortable paying for what you need for your club/event on your own credit card you are free to do so. To be reimbursed, you will need to follow the reimbursement process outlined here. Please note that it can take between 4 and 6 weeks from the time you send in your reimbursement request until your check arrives to you in the mail.

Option 2: AASET can pay prior to the event using club funds

Put a half hour of time on Mary Kate's calendar to meet and go through the purchase. Before the meeting be prepared with the “who, what, where, when, why” of your purchase. If you are planning to order food for an event (pizza, boxed lunches, something fast) you can fill out this Student Club Food Delivery Request Form and Mary Kate will follow up with you. Please fill out the form at least a week before the event.

Option 3: AASET can pay after the event using club funds

If your vendor is able and willing to send an invoice for the charges and be paid according to the University's Net 30 policy, touch base with Mary Kate (misak001@umn.edu) to ensure the vendor is set up in the University system. It is the student leader's responsibility to ensure that the vendor understands the payment policy and when they can realistically expect their payment to arrive. After the event, send the invoice to Mary Kate using the Contract/Invoice Submission Form and Mary Kate will send it along to the administrative team to be paid.