LSO Financial and Budget FAQs

Where do SBA funds come from?

• SBA funding is student tuition dollars allocated to the SBA by Dean Polden. He gives a lump sum and the SBA keeps 30% and allocates the remaining 70% to the Student Orgs.

What is the SOBA Form?

• The SOBA (Student Organization Budget Allocation) Form is a proposal form for clubs to ask for funding from the SBA. Each Law Student Organization must complete a form and turn it into the SBA Treasurer. The SBA will send out a blank form to all clubs at the beginning of each year.

What is a fund string # and how do I find out if my club has one?

• Think of a fund string number as your account number. All existing Law Student Orgs. have a fund string number. Attend the Fall Council of Leaders Treasurer Training to receive your fund string number.

How many fund string #'s do I have and what is the difference between the two?

• All existing Law Student Orgs. have two fund string numbers. One fund string represents the money you were allocated from the SBA. The other fund string number is money your club has raised through fundraisers or donations.

How do I get my club's financial report?

• Financial reports will ONLY be released to the club Treasurer (the authorized budget manager for each Law Student Org.). Club Treasurer’s can contact the Law Finance Office, lawfinance@scu.edu for a financial report.

How do I get reimbursed?

• Reimbursements should not be used for purchasing assets, capital improvements, paying for large catered events, or payments to individuals or vendors. The preferred method for payment for the above would be to obtain an invoice from the vendor (see more info on this below).

To receive a reimbursement you will need:

• A completed Business Expense Form, including the exact fund to be charged.

• The business purpose of the expense

• Signature of both the claimant and the student organization treasurer

• An original receipt substantiating the expense
       - Original receipts are not credit card statements, bank statements, cancelled      

         checks, or unpaid invoices
       - Tape all receipts to a blank piece of paper; be careful not to tape over the
         amount or description
• Copy all materials for LFO, and make an additional copy for your reference
• Submit originals and one copy to LFO Office or to the LFO mailbox in Heafey 156.
• Reimbursements will be processed within 2 weeks time.
• Checks are mailed to the address on file; to update your mailing address, please include your new mailing address on your business expense form, and make a note to indicate the change.
• If your reimbursement is under $100, you will receive a receipt from the Law Finance Office in your Bannan mailbox. You must turn this receipt into the Cashier in the Bursar’s Office and show your SCU Access card for a cash reimbursement.

How do I have an invoice paid?

• Law Student Organizations, Moot Court Representatives, and any other SCU constituents are not authorized to disburse funds to a third party. SCU constituents are also not authorized to obtain cash advances, on behalf of, or to pay, a third-party service provider or another SCU constituent. No SCU constituent is allowed to pay an individual for services performed and later seek reimbursement. Law School Organization Treasurers/budget managers are responsible for setting up billing arrangements, and communicating with vendors.

To obtain payment through an invoice you will need:
• An original invoice (copies will not be accepted) with full payee information,
including social security number (sole proprietor) or tax identification number
       - An invoice is not a statement, quotation, or contract
• Description of the items shipped
• Amount of payment
• Your fund distribution number
• Annotated business purpose
• The supervisor or treasurer’s signature approving the payment
• Copy all materials and submit to LFO or to the LFO Mailbox in Heafey 156
• If the vendor requires a portion returned with payment, please provide an
additional copy of the invoice
• All invoices must be turned in to Law Finance Office within three days of the
invoice date to ensure timely payment to the vendor.
• Payments with special processing requirements should be clearly noted when submitted to LFO.

Can I spend money from the SBA on alcohol for an event?

• You CANNOT spend SBA funds to pay for alcohol (this includes corkage fees). You can however, spend money from your fundraised funds to pay for alcohol.

If my group has an event that involves a contract, who should I have sign it and who do I send the contract to for approval?

• Only an official representative of the University can sign contracts. A student cannot sign contracts on behalf of their Stu. Org. or the University. All contracts should go through Ben Martin, b1martin@scu.edu, Director of the Law Finance Office. Ben will assess the contract and pass it through the University Risk Manager, Sam Florio if necessary.