Financial Briefing

1
Financial Briefing
Tang Chuan Lee sporzboi_at_yahoo.com 97868765
2
Income

• All income to be supported by documents
• Cheques presented to be addressed to NTU Student
  Union only
• All cash collected must be deposited in total
• All income/contributions must be passed to the
  Financial Controller to be banked in asap.
• Biz Mags I have to emphasize point 2 above
• In the event of wrongly issued cheques, Biz Mags
  are to rectify the error asap

3
Fund Raising

• 4-Month period
• - Accounts need to be completed and audited
  within this time period.
• Proceeds to be reimbursed to the various
  beneficiaries

4
Purchases

• Less Than 2,000
• No need quotations
• More than 2,000 but less than 50,000
• Obtain at least 3 quotations
• Can be in the form of
• Email
• Fax
• Price lists from published catalogues or Internet
• More than 50,000
• Tenders required
• Can consult me directly

5
Invoices

• Purchases gt 200 must be invoiced
• Addressed to Nanyang Technological University -
  WSC or NTU - WSC
• Purchases gt 2,000 must be supported by 3
  quotations
• At the back of invoice, indicate
• Supporting Committee or RSP
• Nature of Spending
• Ensure credit terms is cash and NOT cash on
  delivery or COD

6
Invoices

• Must be original
• If original copies are lost, duplicated copies
  submitted must have
• Supplier has not received payment for that
  invoice
• Invoice is a certified true copy of the original

7
Receipts (Reimbursements)

• Paid to be printed or written
• Addressed to Nanyang Technological University
  or Cash
• Only original receipts are allowed no carbon
  copies
• Receipts should also include
• Company Name
• Company Address
• Company Telephone Number
• Max amount allowed for each receipt is 200

8
Receipts (Reimbursements)

• Items paid are to be issued with receipts not
  invoice.
• If the company does not issue receipts, then
  invoice is to be stamped paid with company
  stamp beside, countersign by company staff
• Maximum of 2 receipts on each sheet of paper
• Receipts must be claimed within 2 months

9
Receipts (Reimbursements)
Transportation Claims On the piece of paper
where receipt is pasted, state the following -
Event - Duration of Rental - Purpose of
Rental Petrol Receipts (for period of rental
only) - Event - Duration of Rental -
Purpose of Rental
10
Receipts (Reimbursements)
Food n Beverage Claims On the piece of paper
where receipt is pasted, state the following -
Date of Event - Name of Event - Number of
People the Food is Catered for SAO allows
maximum of 5 per head Exclusion of information
above deems receipt void
11
Non Claimable Receipts

• Receipts with personal items lumped in
• Taxi claims except for beneficiaries
• Ink cartridges
• Phone cards / bills
• Chalet rentals
• Entertainment expenses for volunteers
• Receipts for fixed assets above 2,000 w/o prior
  approval
• Carbon copies or photocopied receipts

12
Claim Forms

• Different Categories
• Use separate claim forms for each category
• Receipts for different categories on separate
  sheets
• 2. GST/Non-GST
• 3. Ensure date, amount claimed, GST, etc. are
  correct
• 4. Indicate the nature of payment and activity
• 5. Send in soft copy as well

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Claim Forms - Pointers
1. Ensure GST amt tallies with receipt - Due to
rounding effects, receipt figures may differ 2.
Ensure receipts are GST/non-GST - Try to look out
for GST Registrar on receipt 3. Ensure receipts
do not have personal items - Separate personal
items from claimable items 4. Ensure the sheet
with breakdown is behind 5. Highlight the
following for easy checking - GST amount - GST
Registrar - Date of Receipt
14
Financial Subcomm

• Toh Boon Kwang
• Email tohboon_at_gmail.com
• h/p 98377341
• RSP Elders
• Lee Shao Wei
• Email lees0019_at_ntu.edu.sg
• h/p 92389472
• Publicity / Social

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Financial Subcomm

• Ang Chee Yong
• Email angc0024_at_ntu.edu.sg
• h/p 97822433
• RSPHI / COR
• Cheng Mingqi Wayne
• Email lees0019_at_ntu.edu.sg
• h/p 97933747
• Secretariat

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Financial Subcomm

• Goh Chew Hung
• Email qiuyun_1984_at_yahoo.com.sg
• h/p 98184605
• RSPID
• Huang Tian
• Email htian66_at_hotmail.com
• h/p 98167636
• RSPVH, Biz Mag

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Financial Subcomm

• How Wei Siew Cynthia
• Email c_gal1986_at_hotmail.com
• h/p 98385950
• Volunteer Management
• Lee Xin Yi Isabel
• Email lee_xin_yi_at_hotmail.com
• h/p 81335476
• RSP Youth

18
Financial Subcomm

• Yuen Si Qi
• Email yuen0002_at_ntu.edu.sg
• h/p 98199862
• CURL / Friends of Children
• Lum Zhi Ming Abel
• Email syzygy208_at_hotmail.com
• h/p 93677352
• Media n Info / OVE