Financial Guide
Learn more about club finances, submitting for reimbursements, and more.
Learn more about club finances, submitting for reimbursements, and more.
Questions about club finance? Explore common topics below. You can also view a comprehensive guide on best practices for spending money on behalf of a club here.
Reimbursements
Please view the Reimbursement Guide for additional information.
You can contact money@stern.nyu.edu with any specific questions.
Monthly Club Budgets
Club balances and a list of transactions are maintained by Office of Student Engagement and sent to your VP of Finance on a monthly basis. Clubs should be keeping their own set of records, and the statements from Office of Student Engagement should be used to verify what has cleared and to note any discrepancies. To request your club's balance or add a club member to receive the spreadsheet, e-mail money@stern.nyu.edu
If you would like to add another officer to the monthly distribution list, please email us at money@stern.nyu.edu with your request. Please include the name of your club, the new officer(s)'s name, and email address.
Speaker Fees
Students are not allowed to pay fees for speakers for club events, as this is an NYU Stern policy. This includes honorariums. Reimbursement for a speaker's travel expenses will be considered by OSE on a case-by-case basis. Alternatively, you may give speaker gifts such as a donation on the speaker's behalf to a charitable organization of the speaker's choice, a high-caliber speaker gift, "thank you" cards from the conference/event organizers, or something club-specific, like a "lifetime membership" or free admission to future club events, or branded swag. Please reach out to the OSE team if you have any questions.
Club Deposits
In the event your club collects cash for an event, funds can be brought to the Office of Student Engagement for deposit into your club account. OSE will retain records of the deposit with the Bursar's office and a receipt copy can be requested from money@stern.nyu.edu. Deposits will be reflected as Revenue on the following month's club budget report.
If depositing a check, please ensure it is made payable to "New York University," not your club directly.
All deposits must be submitted in person to the Office of Student Engagement during regular business hours (Monday – Friday, 9am – 5pm). Please contact the team with any questions.
Club Spending
Please see the attached PDF for best practices on how to spend money on behalf of a club.
You can also use the historical data below that OSE has collected on club spending by Club Category and Type of Event. Ranges are broken up by percentile. The 50th percentile represents the the median amount spent per event with the 25th and 75th percentile representing the boundaries of the middle 50%.
Contracts and Approved Vendors
Please visit the Event Planning Guide for additional information.
Apply for and receive additional funding for your club to use.
1
Plan for a future academic competition, conference or sporting event that you would like your club members to attend. Market the event to your club members to solicit RSVPs or form teams. Work with your Club President and VP of Finance to apply for funding per the steps below.
2
Incomplete forms will not be considered. Please also be prepared to motivate your responses to the application via supporting materials.
Approved applicants will be required to provide marketing documentation (i.e., the event must be marketed to all club members via email/poster/etc) and expense approximations (e.g., hotel reservations, Expedia/Kayak printouts to support travel costs, etc.)
3
All applications will be reviewed after the deadline and decisions will be made for each request. Each club will be notified about the decision within two-three weeks after the deadline. This approval is only preliminary and pending completion of the following steps.
4
After the event, the individual who initially applied for the funding must complete the feedback form. Funds will not be reimbursed until this is completed.
5
The club President/VP of Finance will then provide supporting documentation (receipts, invoices, etc) to confirm the information submitted in the feedback form (i.e., number of students who participated, actual cost breakdown) either via e-mail or submitted to the Office of Student Engagement on the 6th floor.
Email money@stern.nyu.edu to notify the Working Group for Club Funding of the submission of hard copies.
6
After the completed documentation is reviewed, the Working Group will then transfer the approved amount of funds directly to the club, at which point the club can handle the reimbursement process for those members who participated. Exceptions will be made when the event in question is not sponsored by an officially recognized student club.
Request Approval to Spend a Portion of your Club's Reserve Account
1
Each club has a unique financial circumstance, with different priorities, resources, and constraints. While clubs should make every effort to honor their approved budget, all while staying mindful of realized club revenue, using reserve funds will be approved on a case-by-case basis.
2
Incomplete forms will not be considered. Please also be prepared to motivate your responses to the application via supporting materials, if requested by OSE.
3
Please note that access to any club reserves outside of an approved club budget by the Office of Student Engagement is contingent on having met all Pass the Torch deliverables and is approved by OSE in partnership with the Stern Budget Office and Senior Leadership.
The four upcoming funding deadlines for this year are September 29, 2023; November 17, 2023; February 16, 2024; and April 19, 2024. Application consideration for approval is contingent on the club leadership completing all of the required club duties (i.e., attending the Presidents' Welcome Back, having a rep at club expo, etc.)