The Treasurer is responsible for keeping track of all incoming and outgoing funds across all RoboJackets accounts. These records are maintained in the General Ledger. At the start of the fiscal year, the treasurer creates a financial plan for the entire fiscal year. The treasurer is also responsible for placing all orders. Accounts that the treasurer is responsible for include SGA, agency, CoC, Foundation, Endowment, and Mercury.
At the start of the fiscal year the Treasurer creates a system in Google Sheets to keep track of all incoming and outgoing funds across all accounts which includes the General Ledger, a collections sheet, a PO (purchase order) sheet for each team, and a PO sheet for general orders.
At the start of the fiscal year, the treasurer creates a plan that includes estimates for all expected income and expenditures.
There are three main ways the treasurer places orders
1. Reimbursement - Generally recommended for small orders (less than $ 100 or so) and time-sensitive orders. Required for PayPal payments due to fraud risk. Limited to $ 2000 as of FY20. Should be minimized if possible since reimbursement checks take weeks to arrive.
2. Purchasing card - Generally recommended for everything else (>$ 100 and <$ 2500).
3. Mailed check from Georgia Tech Accounts Payable - Use only when recommended by a SOFO accountant. This will require coordination with SOFO.