Budget Review Process
Sports Operation
STUDENT ACTIVITY ACCOUNTS .................................................................................................. 2 BUDGET MANAGEMENT ............................................................................................................ 2 Use of Funds ............................................................................................................................... 2 Credit Card Use .......................................................................................................................... 2 Budget Estimates ...................................................................................................................... 3 Budget Approval ....................................................................................................................... 4 Revisions to Estimates or Team Travel Schedule .............................................................. 4 Account Deficits: ....................................................................................................................... 4 Budget Review Process: Monthly and Quarterly ....................................................... 5
Sport Operation Policy (updated 10/24/2010) Page 1
STUDENT ACTIVITY ACCOUNTS BUDGET MANAGEMENT Use of Funds As a rule, all coaches are expected to follow policies for expending activity fee funds. Each budget manager is expected to operate within the allotted budget for the entire year. Within each sport program, the funds may be used in the following categories: Student Travel (transportation, lodging, meals, entry fees, etc) Supplies/Equipment (practice and competition gear, sportrelated equipment on or off field/court) Officials Miscellaneous (postage, phone, etc) Travel to required conference meetings No major equipment unrelated to student-athlete benefit (. office furniture/ equipment, painting of locker rooms) may be charged using this account. Out of season/vacation travel. Sports may use activity funds only to the extent of paying for meals and lodging for travel during spring break or any other out of season/holiday travel. The cost of transportation and lodging for such trips is the responsibility of the coaches and studentathletes. a. ACTIVITY BUDGET POLICY ** Out of season/vacation travel. Sports may use activity funds only to the extent of paying for Creditand Cardlodging Use for travel during spring break or any other out of season/holiday travel. The meals All state employees issued a State Minnesota credit card agreeof tothe follow the and studentcost of transportation and lodging forofsuch trips is the responsibility coaches guidelines enforced by the State of Minnesota. (See credit card guidelines at: athletes. www.mnstate.edu/busoff/creditcard.htm). Credit Limits: Usual credit limits are $2500 for Assistant Coaches and $5000 for Head Coaches. Any increase in limit must be approved by the ADMINISTRATION/designee. Limits reset at the end of each month. Receipts: KEEP YOUR ORIGINAL ITEMIZED RECEIPTS! Original itemized receipts must be submitted with the reconciled credit card statement. Affidavits are to be completed only in extreme cases and if all attempts to obtain a receipt from the vendor fail.
Use of Card: DO use for: o Team Travel expenses where charge cards are accepted. o Supplies- small supply items (i.e., socks, tennis balls paint, etc) may be charged
Sport Operation Policy (updated 10/24/2010) Page 2
Do NOT use: To pay for equipment over $500. All expenses over $500 would need a PO prior to purchase.
Statements: Credit card statements must be reconciled electronically by the 6th of each month for the prior month’s charges and submitted to the ADMINISTRATION’s Administrative Assistant/designee for review. The website is: https://access.usbank.com/cpsApp1/index.jsp . Your sign in & password information is assigned by the Business office. Process to submit your credit card electronically: a. Obtain your sign in and password from the Business office. b. Log into the website using your sign in and password. c. Change cost center on each transaction on electronic statement if needed d. Descriptions for each transaction must be detailed including name of person(s) eating meals, location of travel, personal or rental car used, type of supply purchased, etc. e. All original itemized receipts for each transaction must be attached to the statement. f. Give the statement and receipts to the ADMINISTRATION’s Administrative Assistant/designee for recording each transaction into your budget spreadsheets. g. The ADMINISTRATION/designee will review each statement and receipt for final approval. h. The statement and receipts will be sent to the Business office for review.
Cancellation of Credit Cards: Credit cards are subject to cancellation at any time by the ADMINISTRATION/designee or by the State of Minnesota.
Returning Credit Card: Credit Cards must be returned to Business Office, Owens Hall if no longer an MSUM employee.
Budget Estimates The Head Coach for each sport must present a preliminary budget to the Associate Director of Athletics and Director of Athletics by June 30th of each year. 1. When your sport schedule is approved by the Athletic Director & the President, your activity budget spreadsheet will be available in each specific sport’s sharedrive to be accessed by the Head Coach/Asst Coaches. (Please do not delete or move this document.) 2. Team Travel: Coaches are responsible for entering all of the estimated cost of their team travel for each event (home and away) and advances needed Sport Operation Policy (updated 10/24/2010) Page 3
per event on the spreadsheet located on the share drive. The spreadsheet will calculate rates to assist with completing the form 3. Supplies: The Head Coach/designee must estimate all supplies to be purchased for their team in their Activity Team Travel spreadsheet prior to purchase for the fiscal year (July 1-June 30). This will assist in staying within budget. After approval of your team travel budget, purchases are permitted either via Purchase Order or MSUM credit card. All expenses over $500 would need a PO to purchase. 4. Additional Expenses: Estimate additional expenses such Officials, Registration and Entry Fees, Miscellaneous (phones, printing, postage) in the proper area of the spreadsheet. Additional information on policies for these can be found in the Expenses section. Budget Approval 1. The team travel spreadsheet with completed estimates will be printed and given to the Head Coach for review and signature. 2. The signed spreadsheet will be given to the Athletic Director/Assistant Athletic Director for final review, comments and signature. 3. Copies of the spreadsheet will be given to the Head Coach and also to the AD file. The spreadsheet is accessible through the season on the sharedrive. (Please do not move or delete.) 4. Original spreadsheet is given to the Activities Budget Manager to process advance requests. 5. The advance check and a Reconciliation of Team Travel form will be given to the Head Coach a few days prior to team travel. Revisions to Estimates or Team Travel Schedule 1. Any revisions to team travel estimates or to your team travel schedule must be approved by the Athletic Director two weeks prior to travel. Reasons for change in travel must be documented and may include cancelled events, inclement weather, injury, etc. Revisions may also be made during the Budget Review process 2. Any revisions to your supply estimates must also be pre-approved by the Athletic Director &/or designee prior to purchase. Account Deficits: The Head Coach will remain within their Activity Team Travel allocation and adhere to the beginning of the year estimates for team travel and supply purchases. Any end of year deficits will be subtracted from the following fiscal year (FY) or discretionary funds will be transferred to the activity account.
Sport Operation Policy (updated 10/24/2010) Page 4
Budget Review Process: Monthly and Quarterly Monthly: 1. The Activity Account business manager will reconcile all Athletic Activity accounts within 10 days of the end of each month using the team’s activity account spreadsheet. 2. The Activity Account business manager will input the ending balance on the FY Activity Account Master spreadsheet (by accessing the spreadsheet filed in the Athletic sharedrive). This spreadsheet will report the monthly ending balance of each athletic activity account. 3. The Athletic Director and SWA will each receive a copy of the updated FY Activity Account Master spreadsheet by the 15th of each month. 4. The Head Coach will receive an end of month balance and a printout of their activity team travel budget within 5 days after the account has been reconciled (approximately the 15th of each month) from the Athletic Director’s Administrative Assistant. 5. The coach may also review their activity team travel budget at any time by accessing the spreadsheet filed in their sport sharedrive (Please do not delete or move this document.) Primary pages to review are Overview, Team Travel, Supplies, and Revenue 6. The Athletic Director or designee may request a meeting with the Head Coach at any time prior to the quarterly review to discuss fiscal concerns or adjustments. Quarterly Reviews: Quarterly reviews will be scheduled with the Athletic Director &/or designee to allow for review and discussion of any needed adjustments. 1. The Head Coach will meet quarterly with the Athletic Director or designee to review their activity team travel budget. a. 1st Qtr meeting will occur by October 20 b. 2nd Qtr meeting will occur by January 20 c. 3rd Qtr meeting will occur by April 20 d. 4th Qtr meeting will occur by July 10 2. The Head Coach will receive a printout of their activity team travel budget prior to their scheduled meeting with the Athletic Director /designee. This will enable the Head Coach to discuss the Athletic Director &/or designee of any budget concerns or adjustments. 3. Any revisions will be documented in writing with a copy to the Head Coach, Athletic Director file and Activity Budget Manager. 4. The Athletic Director or designee can freeze spending at any time. This action will be documented in writing with a copy to the Head Coach, Athletic Director file and Activity Budget Manager.
Sport Operation Policy (updated 10/24/2010) Page 5
STUDENT ACTIVITY ACCOUNTS .................................................................................................. 2 BUDGET MANAGEMENT ............................................................................................................ 2 Use of Funds ............................................................................................................................... 2 Credit Card Use .......................................................................................................................... 2 Budget Estimates ...................................................................................................................... 3 Budget Approval ....................................................................................................................... 4 Revisions to Estimates or Team Travel Schedule .............................................................. 4 Account Deficits: ....................................................................................................................... 4 Budget Review Process: Monthly and Quarterly ....................................................... 5
Sport Operation Policy (updated 10/24/2010) Page 1
STUDENT ACTIVITY ACCOUNTS BUDGET MANAGEMENT Use of Funds As a rule, all coaches are expected to follow policies for expending activity fee funds. Each budget manager is expected to operate within the allotted budget for the entire year. Within each sport program, the funds may be used in the following categories: Student Travel (transportation, lodging, meals, entry fees, etc) Supplies/Equipment (practice and competition gear, sportrelated equipment on or off field/court) Officials Miscellaneous (postage, phone, etc) Travel to required conference meetings No major equipment unrelated to student-athlete benefit (. office furniture/ equipment, painting of locker rooms) may be charged using this account. Out of season/vacation travel. Sports may use activity funds only to the extent of paying for meals and lodging for travel during spring break or any other out of season/holiday travel. The cost of transportation and lodging for such trips is the responsibility of the coaches and studentathletes. a. ACTIVITY BUDGET POLICY ** Out of season/vacation travel. Sports may use activity funds only to the extent of paying for Creditand Cardlodging Use for travel during spring break or any other out of season/holiday travel. The meals All state employees issued a State Minnesota credit card agreeof tothe follow the and studentcost of transportation and lodging forofsuch trips is the responsibility coaches guidelines enforced by the State of Minnesota. (See credit card guidelines at: athletes. www.mnstate.edu/busoff/creditcard.htm). Credit Limits: Usual credit limits are $2500 for Assistant Coaches and $5000 for Head Coaches. Any increase in limit must be approved by the ADMINISTRATION/designee. Limits reset at the end of each month. Receipts: KEEP YOUR ORIGINAL ITEMIZED RECEIPTS! Original itemized receipts must be submitted with the reconciled credit card statement. Affidavits are to be completed only in extreme cases and if all attempts to obtain a receipt from the vendor fail.
Use of Card: DO use for: o Team Travel expenses where charge cards are accepted. o Supplies- small supply items (i.e., socks, tennis balls paint, etc) may be charged
Sport Operation Policy (updated 10/24/2010) Page 2
Do NOT use: To pay for equipment over $500. All expenses over $500 would need a PO prior to purchase.
Statements: Credit card statements must be reconciled electronically by the 6th of each month for the prior month’s charges and submitted to the ADMINISTRATION’s Administrative Assistant/designee for review. The website is: https://access.usbank.com/cpsApp1/index.jsp . Your sign in & password information is assigned by the Business office. Process to submit your credit card electronically: a. Obtain your sign in and password from the Business office. b. Log into the website using your sign in and password. c. Change cost center on each transaction on electronic statement if needed d. Descriptions for each transaction must be detailed including name of person(s) eating meals, location of travel, personal or rental car used, type of supply purchased, etc. e. All original itemized receipts for each transaction must be attached to the statement. f. Give the statement and receipts to the ADMINISTRATION’s Administrative Assistant/designee for recording each transaction into your budget spreadsheets. g. The ADMINISTRATION/designee will review each statement and receipt for final approval. h. The statement and receipts will be sent to the Business office for review.
Cancellation of Credit Cards: Credit cards are subject to cancellation at any time by the ADMINISTRATION/designee or by the State of Minnesota.
Returning Credit Card: Credit Cards must be returned to Business Office, Owens Hall if no longer an MSUM employee.
Budget Estimates The Head Coach for each sport must present a preliminary budget to the Associate Director of Athletics and Director of Athletics by June 30th of each year. 1. When your sport schedule is approved by the Athletic Director & the President, your activity budget spreadsheet will be available in each specific sport’s sharedrive to be accessed by the Head Coach/Asst Coaches. (Please do not delete or move this document.) 2. Team Travel: Coaches are responsible for entering all of the estimated cost of their team travel for each event (home and away) and advances needed Sport Operation Policy (updated 10/24/2010) Page 3
per event on the spreadsheet located on the share drive. The spreadsheet will calculate rates to assist with completing the form 3. Supplies: The Head Coach/designee must estimate all supplies to be purchased for their team in their Activity Team Travel spreadsheet prior to purchase for the fiscal year (July 1-June 30). This will assist in staying within budget. After approval of your team travel budget, purchases are permitted either via Purchase Order or MSUM credit card. All expenses over $500 would need a PO to purchase. 4. Additional Expenses: Estimate additional expenses such Officials, Registration and Entry Fees, Miscellaneous (phones, printing, postage) in the proper area of the spreadsheet. Additional information on policies for these can be found in the Expenses section. Budget Approval 1. The team travel spreadsheet with completed estimates will be printed and given to the Head Coach for review and signature. 2. The signed spreadsheet will be given to the Athletic Director/Assistant Athletic Director for final review, comments and signature. 3. Copies of the spreadsheet will be given to the Head Coach and also to the AD file. The spreadsheet is accessible through the season on the sharedrive. (Please do not move or delete.) 4. Original spreadsheet is given to the Activities Budget Manager to process advance requests. 5. The advance check and a Reconciliation of Team Travel form will be given to the Head Coach a few days prior to team travel. Revisions to Estimates or Team Travel Schedule 1. Any revisions to team travel estimates or to your team travel schedule must be approved by the Athletic Director two weeks prior to travel. Reasons for change in travel must be documented and may include cancelled events, inclement weather, injury, etc. Revisions may also be made during the Budget Review process 2. Any revisions to your supply estimates must also be pre-approved by the Athletic Director &/or designee prior to purchase. Account Deficits: The Head Coach will remain within their Activity Team Travel allocation and adhere to the beginning of the year estimates for team travel and supply purchases. Any end of year deficits will be subtracted from the following fiscal year (FY) or discretionary funds will be transferred to the activity account.
Sport Operation Policy (updated 10/24/2010) Page 4
Budget Review Process: Monthly and Quarterly Monthly: 1. The Activity Account business manager will reconcile all Athletic Activity accounts within 10 days of the end of each month using the team’s activity account spreadsheet. 2. The Activity Account business manager will input the ending balance on the FY Activity Account Master spreadsheet (by accessing the spreadsheet filed in the Athletic sharedrive). This spreadsheet will report the monthly ending balance of each athletic activity account. 3. The Athletic Director and SWA will each receive a copy of the updated FY Activity Account Master spreadsheet by the 15th of each month. 4. The Head Coach will receive an end of month balance and a printout of their activity team travel budget within 5 days after the account has been reconciled (approximately the 15th of each month) from the Athletic Director’s Administrative Assistant. 5. The coach may also review their activity team travel budget at any time by accessing the spreadsheet filed in their sport sharedrive (Please do not delete or move this document.) Primary pages to review are Overview, Team Travel, Supplies, and Revenue 6. The Athletic Director or designee may request a meeting with the Head Coach at any time prior to the quarterly review to discuss fiscal concerns or adjustments. Quarterly Reviews: Quarterly reviews will be scheduled with the Athletic Director &/or designee to allow for review and discussion of any needed adjustments. 1. The Head Coach will meet quarterly with the Athletic Director or designee to review their activity team travel budget. a. 1st Qtr meeting will occur by October 20 b. 2nd Qtr meeting will occur by January 20 c. 3rd Qtr meeting will occur by April 20 d. 4th Qtr meeting will occur by July 10 2. The Head Coach will receive a printout of their activity team travel budget prior to their scheduled meeting with the Athletic Director /designee. This will enable the Head Coach to discuss the Athletic Director &/or designee of any budget concerns or adjustments. 3. Any revisions will be documented in writing with a copy to the Head Coach, Athletic Director file and Activity Budget Manager. 4. The Athletic Director or designee can freeze spending at any time. This action will be documented in writing with a copy to the Head Coach, Athletic Director file and Activity Budget Manager.
Sport Operation Policy (updated 10/24/2010) Page 5
