Procedure for Reimbursement

 

 


  1. Keep your receipts.  As you’re buying things for your event, MAKE SURE you keep all of your receipts. We need to see them before we can give you any money!

Ø      Very Important!

·        Receipts must be itemized. This means that they specifically have to say what everything is. Some stores give you “generic” receipts, that just have the prices and no descriptions. If this happens, write down what item goes with each price. (No description means no money!)

·        Credit card receipts must be accompanied by an itemized receipt from the store.

·        Make sure that only ISU items are on the receipts. If you make separate personal purchases during your trip to the store, just have them rung up separately.

·        ONLY approved items will be funded! If it’s on the officially approved proposal, then it’s okay. The approved amount of money can only be spent on what is specifically in the proposal!

 

  1. Copy the receipts, and turn them all in at once.  Make a photo-copy of each of your receipts, and write down what they were for. (Please make it easy to understand – you’ll get your money much faster!) Give the collection of receipt copies to the ISU Treasurer, who will then start working on transferring the money over to your account in Chubb Hall. The purchases have to be audited, which means that the Treasurer sits down and compares your purchases with the passed proposal … and they have to match!

 

  1. Account at Chubb.  Every registered organization has an account at Chubb Hall. After the receipts have been examined, the reimbursement amount will be transferred into your organization’s account. This is where you will turn in your original receipts, so don’t lose them! The Treasurer will contact you when the money has been transferred into your account, and then it’s up to you to make sure that people get reimbursed.

 

 

Special Scenario:

Sometimes a check needs to be ready before an event takes place. This can happen when music groups come to perform, or a speaker comes to give a lecture. ONLY in this case can a check be written ahead of time. We need a copy of the official contract between you and the performer, complete with signatures and the amount to be paid. We can then prepare a check to be given to the performer when the event takes place. Of course, if for some reason the person/group does not perform, then we will need the check back!

 

Note: If the amount to be paid to a performer or group is over $500, then a W-9 tax form MUST be filled out and given to Chubb Hall!