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--></style><title>Student Activities - spring business practice
reminder</title></head><body>
<div>Hi All.</div>
<div>We are into another semester and I want to make you are aware of
our web resource for good business practices
(http://web.mit.edu/slp/finances/gbp). One of the best practices
is to limit the number of times your members have to pay expenses out
of pocket. There are many ways SAFO can pay expenses directly
for your group. Below are recommendations and policies that are most
relevant to all student groups. Please take a moment to make
sure you and members paying for expenses are familar with these.</div>
<div><br></div>
<div>We understand that things do come up at the last minute, plans
change or the unpredictable happens, we appreciate groups plan
in advance and use MIT direct payment options as much as
possible.</div>
<div><br></div>
<div><b>1. Ask companies to send you a written quote, estimate or
invoice in advance</b></div>
<div>Checks can be written directly to a company (<font size="-1"
color="#000000">http://web.mit.edu/slp/finances/transactions.html</font
>). Invoices, quote or estimates must be issued from the
company and include their address, phone number, itemization of
services and if possible their tax identification number.</div>
<div><br></div>
<div>Our office can accept faxes (fax number 617-253-8391) for student
groups as long we know in advance and have an expense voucher to issue
a check. The fax should clearly indicate your group name so we may
identify it.</div>
<div><br></div>
<div>It is reasonable to tell a company a check will be mailed once
the service has been rendered and you receive an invoice. Most
legitimate companies will understand this request and will appreciate
assurances of a timely payment through this method.</div>
<div><br></div>
<div>This option should also be used by groups paying for national
dues, registration, conference or competition fees. Groups need to
submit the registration form with the voucher and the check would be
made payable to the sponsoring organization. Students don't need to
write out personal checks for these since groups have plenty of
advance notice of when these are due.</div>
<div><br></div>
<div>Lastly, SAFO can pay MIT Campus Police and the City of
Cambridge (entertainment license) directly. You need only submit a
copy of your Event Registration form as supporting documentation with
your expense voucher.</div>
<div><br></div>
<div><b>2. Ask companies in advance if they accept purchase orders for
payment</b></div>
<div>Purchase orders are commitments to pay a certain price once a
company sends and invoice to MIT. PO's need to be set up in advance of
placing an order. Groups need to submit an expense voucher 3-5 days in
advance of placing an order (<font size="-1"
color="#000000">http://web.mit.edu/slp/finances/transactions.html#PO</font
>.).</div>
<div><br></div>
<div>**Any purchase over $3,000 must be made with a MIT purchase order
and requires<i><b> written quotes from three vendors</b></i> along
with the an explanation why the group's selected the one they
did.**</div>
<div> </div>
<div>Local companies we know who accept MIT purchase orders :</div>
<div>Budget Rental Car</div>
<div>B&H Photo</div>
<div>Cinderella's Pizza</div>
<div>MIT Coop</div>
<div>Festive Occasions (party equipment rental)</div>
<div>High Output (theatre and AV equipment rentals)</div>
<div>LaVerde's</div>
<div>MicroCenter</div>
<div>Pearl Arts & Crafts</div>
<div>Picante's Mexican Grill Catering</div>
<div>Pu Pu Hot Pot</div>
<div>Royal East</div>
<div>Shaw's/Star Market</div>
<div>QRST's</div>
<div><br></div>
<div><b>3. Use MIT internal service providers</b></div>
<div>Payments to internal providers are requisitions processed
directly from SAFO once you have arranged for services.</div>
<div><br></div>
<div>Student groups commonly use (<font size="-1"
color="#000000">http://www.mit.edu/shopmit/</font>)</div>
<div>Audio Visual</div>
<div>CAC & Talbot House</div>
<div>MIT Catering</div>
<div>Bon Apetite</div>
<div>Alpine Bagel & Cambridge Grill</div>
<div>Faculty Club</div>
<div>CopyTech</div>
<div>MIT Press Bookstore</div>
<div>Cyrogenics Lab (helium tank rentals)</div>
<div>Mail Services</div>
<div>Facilities</div>
<div> </div>
<div>Groups can set up a CopyTech "Logsheet" where charges
are recorded and billed monthly to group's main accounts.</div>
<div><br></div>
<div>Also groups that have phones or I/S network services can arrange
to have those billed directly to their group's<u> main</u> account
monthly.</div>
<div><br></div>
<div><b>4. Take advantage of MIT negotiated discounts</b></div>
<div>MIT has negotiated deals with companies for basic office
supplies, computer equipment, lab materials and so on. Contact
MIT Procurement for recommendations on companies to buy from. A list
of MIT preferred vendors is available at (<font size="-1"
color="#000000"
>http://web.mit.edu/afs/athena.mit.edu/org/p/purchasing/part.htm</font
>)</div>
<div><br></div>
<div>Student groups may request SAP authorization to place online
orders with any of MIT's ECAT partner companies (<font size="-1"
color="#000000">http://web.mit.edu/ecat/#selectvendor</font>). Contact
me to request this additional SAP authorization. This is helpful
for residence halls who order toner and paper supplies
regularly.</div>
<div><br></div>
<div><b>5. Use MIT approved travel agents & rental car
agencies</b></div>
<div>When renting vehicles student groups should use a MIT purchase
order and rent from Budget Rental Car or Alamo (<font size="-1"
color="#000000">http://web.mit.edu/cao/www/travel.htm#car_rentals</font
>). MIT has corporate contracts with both which includes proper
insurance coverage and discounted rates. This is vital in case a group
gets in an accident while travelling.</div>
<div><br></div>
<div>Groups are urged to use an approved MIT travel agent (<font
size="-1"
color="#000000">http://web.mit.edu/cao/www/travel.htm#travel_agencies</font
>). Airfare can be charged directly to a group's main account
(requirements listed at<font size="-1" color="#000000">
http://web.mit.edu/slp/finances/gbp/travel.html</font>.)</div>
<div><br></div>
<div><b>6. Paying a performer or guest speaker</b></div>
<div>A written contract or agreement must be used when a group
"hires" someone to do a "job" whether it is a DJ,
coach, piano tuner, instructor, band, etc. (<font size="-1"
color="#000000">http://web.mit.edu/slp/safety/contracts.htm</font>).</div
>
<div><br></div>
<div>Students may not sign contracts on behalf their MIT student group
see Tom Robinson or Linda Noel in W20-549 for the proper MIT
signature. Signing a contract is consent to assume responsibility and
liability if something goes wrong. The MIT approved signature places
the liability with MIT and not a particular individual.</div>
<div><br></div>
<div>Groups may only "hire" US citizens or foreign nationals
who provide a copy of a valid work visa. Arrangements may be made to
pay travel or other expenses instead of an honoraria or payment for
service (see<font size="-1" color="#000000">
http://web.mit.edu/slp/finances/gbp/travel.html#local</font>).</div>
<div><br></div>
<div><b>7. Capital equipment - initial purchase procedure and eventual
disposal</b></div>
<div>Any purchase of capital equipment (any item that has a life of
more than a year or more and costs more than $500 is considered
equipment) must be processed by by purchase order or direct payment by
SAFO to the vendor. Property will be tagged and catalogued by
the MIT Property Office and groups are required to provide SAFO with
the following information</div>
<div><br></div>
<div>Manufacturer<br>
Model #<br>
Serial #<br>
Contact person</div>
<div>On-campus location</div>
<div><br></div>
<div>Once your group is done with the equipment it must be deactivated
by the MIT Property Office before it may be resold or disposed of. All
questions regarding the disposition of property should be direct
to Michael McCarthy at x3-2779 or mmccarth@mit.edu.</div>
<div><br></div>
<div>"<font face="Verdana" size="-1" color="#000000">Department,
Labs and Center Administrators are reminded that any intended selling,
donation or transferring of equipment assets must be coordinated in
advance with the Property Office. MIT's Property Procedure 25.1
prohibits Department, Lab and Center employees from selling MIT or
MIT-titled equipment directly. If equipment becomes excess to DLC
needs, it should be identified to the Property Office for disposition
and possible sale, indicating any possible interested parties. The
Property Office will then coordinate the necessary internal
re-utilization screening, the type of bid or negotiated cash sale, MA
sales tax collection and liability issues, bill of sale, proper
crediting of the proceeds, transfer paperwork, and the retirement of
the property record. Government-titled equipment is always prohibited
from sale, but it should be reported to the Property Office when it is
excess to needs.</font></div>
<div><font face="Verdana" size="-1" color="#000000"><br>
Questions regarding the above should be addressed to Michael
McCarthy at 3-2779 or</font><font face="Verdana" size="-1"
color="#0000EE"> mmccarth@mit.edu</font><font face="Verdana"
size="-1" color="#000000">.</font>"</div>
<div> --excerpt taken from MIT Accounting Office January 2005
Summary Statements Message</div>
<div><br></div>
<div><b>8. Maintaining Financial Signatory information</b></div>
<div>ASA groups please make sure your group continues to keep your
financial signatories updated in the ASA web database (<font
size="-1"
color="#000000">http://web.mit.edu/asa/www/asa-db.shtml</font>).</div>
<div><br></div>
<div>Residence halls please make sure your group continues to keep
your financial signatories updated with the SAFO office by sending an
email to funds@mit.edu or completing the Residence Hall online
Financial Signatory form (<font face="Lucida Grande" size="-1"
color="#000000">http://web.mit.edu/slp/finances/dorm-signers.html</font
>.)</div>
<x-sigsep><pre>--
</pre></x-sigsep>
<div>Financial Administrator<br>
Student Activities Finances Office (SAFO),<br>
W20-549<br>
ph. x3-3680, fx. x3-8391<br>
laurie@mit.edu<br>
http://web.mit.edu/slp/finances<br>
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