At this time, it's crucial that club event organizers have OSE approval to spend any funds on events prior to purchase. Please reach out to money@stern.nyu.edu before incurring any event-related expenses to confirm. If approved, event organizers and the VP of Finance must work together to determine the appropriate budget for an event.
Here are some helpful reminders for spending club funds on events:
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Never sign a contract. This puts all the liability on the student event planner. Please submit the contract to money@stern.nyu.edu so that NYU's legal team can review.
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Don't spend over $1,000. NYU Stern's policy states that students cannot be reimbursed for charges over $1,000. If your event exceeds this limit, you can 1) split the cost across multiple credit cards belonging to club members, or 2) open a Purchase Order through money@stern.nyu.edu. The first option relieves students of this financial responsibility while the second option takes 4-6 weeks. Weigh the pros and cons for your club.
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Don't pay for shots. Or "neat" cocktails. NYU Stern will not approve a reimbursement for these kinds of drinks.
If you are unfamiliar with MBA OSE's student reimbursement process, click here.