two students studying in the grass around the UM Oval

ASUM

Funding

  • All monies held by ASUM are ultimately state funds and, thus, under the control of the Board of Regents of Higher Education.
     
    All monies collected for a group must be deposited into the groups assigned ASUM Index prior to dispersal. 
     
    Student groups that deposit monies with ASUM that are not allocated from ASUM have the right to withdraw and use the funds for any purpose as long as they are in compliance with ASUM policy, UM policy, Montana Law, and Federal Law.

    Recognized student groups that don't already have an account with ASUM may be assigned one at any time. We call these your ASUM Index, though you may have heard them called MST Account because they begin with the letters MST and are followed by three numbers. Your ASUM Index provide the means for your group to request money from your group's funds to purchase items and pay for services.

    Funds in the club index come from two sources - ASUM Allocations and Student Generated Funds.

    ASUM Allocation

    		 Student Generated Funds

    Funds granted through Annual Budgeting or Special Funding Accounts.

    Funds generated through fundraisers, collecting member dues, or support from entities outside of ASUM.

    Funds must be used in their general categories of the requested budget, sometimes at restricted amounts.

    Funds can be spent outside of categories as long as the spending follows State / UM / ASUM Policy.

    Funds are granted yearly and expire sometime in May.

    Funds do not expire and are retained by the club from year to year.

    ASUM assumes no financial responsibility for groups that incur debt. The Office Manager is available to help groups conduct their business and understand their financial statements but it is up to the groups themselves to monitor and keep track of all their own deposits, payment activities and the balance of their account.

    A group cannot decide to spend money it doesn't already have in its account. If a group is anticipating funding for an event from other sources, the Office Manager must be informed in advance. If such arrangements are not made, and funds are lacking, the Office Manager reserves the right to withhold approval for an event/purchase/payment/travel arrangement to go forward.

    Financial Transactions

    Deposits

    All Student Groups must deposit all cash or checks with ASUM. If a group does not have an ASUM Index established, please meet with the Office Manager to get one started.

    For deposits, the individual will be asked to complete a deposit form and will be issued a receipt.

    Checks

    Cash

    Checks should be made out to the name of the group or The 91次元, not individuals.

    Cash should be collected utilizing a Cash Log provided by ASUM. Please bring the cash log for filing; it will be used to verify the deposit is intact.

    Checks written to student groups must be deposited within 30 days.

    Cash must be deposited intact within seven (7) days of collection.

    Payments & Reimbursements 

    Here are the ways members can access their group's funds:

    1. Cash Reimbursement: When an authorized group member (Club president, treasurer, or their designee) pays out of pocket on behalf of a group up to $100.00, they may bring an itemized receipt to the Office Manager to be reimbursed with cash from the student group account. 
      • Cash reimbursements must be requested within 60 days of the purchase.
      • Cash reimbursements for food/entertainment require additional documentation (i.e. Entertainment Request completed in advance AND list of attendees with student ID numbers). This is required for all food reimbursements or purchases.
      • Cash reimbursements are not available for travel expenses or contracted services (see subsequent sections).
      • Credit card receipts that show a total but do not show details of what was purchased do not qualify.
    2. Check Payment Requests: The Office Manager will submit check payment requests for members needing to be reimbursed for more than $100.00 or to a member who has receipts older than 60 days. To process check reimbursements for out-of-pocket expenses, an authorized group member will need to provide the Office Manager with the name, student ID number, address, email, and phone number for the person to be reimbursed.
      • Check requests can take up to three (3) weeks to be fully processed.
      • The state issues and mails checks on Thursdays only.
      • Reimbursement checks must be cashed within 180 days of issue.
      • Student groups waive the right for reimbursement for expenses older than 90 days.
    3. ProCard Purchases: The Office Manager has a university-issued credit card (Procurement Card / ProCard) that can be utilized for making online purchases/payments or for paying business invoices.
      • Clubs wishing to make a purchase with the ProCard must complete the
      • Limits
        • For transparency and accountability, the Student Group Order Form is required for all ProCard purchases over $50.
        • Purchases over $300 will require additional documentation (such as a club vote count or demonstrated need). Please reach out to the Office Manager to discuss purchases over $300. 
      • Timelines
        • Groups must allow at least 48 hours to complete the purchase.
        • Deliveries will be based on vendor timelines after the order is placed. 
        • Forms submitted Fridays will be adjusted to be completed on Tuesday. 
      • ProCard Required Purchases
        • Some purchases are required by the state to be made via ProCard.
          • In general, this is any purchase that could be deemed a contracta student entering into a contract on behalf of ASUM or the 91次元. 
        • Some Travel purchases (see Travel Requirements) must be made on ProCard
    4. On-campus Payments: Groups can use their Index/MST to pay for products and services on campus, such as at Paw Print, Conference and Event Services, or UM Catering. These departments may charge the index directly.
      • Please communicate in advance with the Office Manager if you intend for your index to be charged to confirm amounts available.
      • Overdrawn accounts will result in locking of student group accounts.
      • ASUM cannot Departmental spending for events in conjunction with a student group must be PRE-APPROVED. 
        • Charges that have not been pre-approved and/or initiated by the student group leaders will be denied.

    Paying for Contracted Services 

    Payment requests for persons, whether students, UM faculty or staff, coaches, independent contractors, guest speakers, referees, contest judges, etc. require additional paperwork and extra time to process. All student groups planning to host an event that includes a contracted service MUST meet with the ASUM Office Manager PRIOR to the event. 

    The state has specific guidelines and procedures for making payments to individuals who are hired by a student group to provide a service. Depending on the situation, an individual may need to be hired by the university as a student employee or temporary classified staff. The Office Manager must receive the necessary documentation THREE (3) WEEKS in advance of the service being performed or payment cannot be guaranteed.

    Here are examples of situations when student groups might make payments to individuals. An example of the corresponding required paperwork is also included:

    • Independent Contractors are individuals who are not students or employees of the University that have some form of expertise and provide their services for a limited period of time, such as a DJ, referee, graphic designer, guest speaker, or contest judge.
      • Two forms must be submitted to the Office Manager advance
      • These documents must be submitted at least three weeks before the independent contractor performs services for the student group.
    • Students who are to be paid for providing a service must be hired by the university and are paid through ASUM's student payroll. Contact the Office Manager about the required paperwork.
    • Faculty or staff also must be paid as employees of The University. Contact the Office Manager about the required paperwork.
    • Individuals with no UM affiliation who are not hired for any particular skill or expertise, such as security personnel for an event, must be hired by The University and paid through ASUM's payroll roster as temporary employees. Contact the Office Manager about the required paperwork.

    Off-campus Checking Accounts

    Groups are not allowed to have outside financial accounts including. but not limited to: checking, savings, Venmo, or PayPal accounts.

    This policy ensures year to year financial accountability, responsibility and transparency. It is in place to protect individual student group members, ASUM, and groups themselves.

    All groups are required to disclose if they have said accounts currently open. Groups will be required to close said accounts if accounts are not authorized. 

    Disallowed Purchases 

    ASUM does not allow for certain purchases with ANY funds. Ineligible purchases cannot be reimbursed, regardless of funds being from ASUM or Student Generated Funds. These are: 

    • Alcohol, tobacco, firearms, drugs, explosives, OR accessories for any of those things
    • Gift Cards 
    • Academic support or class related purchases
    • UM infrastructure or money towards UM infrastructure projects
    • Purchases that are against state, UM, or ASUM policy
    • Purchases or payments that need to be completed through a Contracted Service are not eligible for reimbursement
    • Purchases or payments that are required to be paid through UM systems like ProCard or GrizMart (i.e. lodging on ProCard OR Amazon in GrizMart) are not eligible for reimbursement

    Financial Statements

    There are two financial statements detailing a group's ASUM financial activity that can be emailed: 

    Operational Statement with Fund Balance

    Transactional Statement

    Details a group's budget allocation in the correct lines and current balance of all funds available, including their ASUM and Student Generated Funds.

    Details the group's financial transactions including deposits and spending, like a bank statement. 

    To request emails with a group's financial statements, contact the Office Manager.

     

    Note from OMG (Office Manager Gwen): I will always do my darnedest to make sure that your events, meetings, and club activities are successful. However, I will not always be able or available to assist you with last-minute spending, especially due to lack of planning. Please plan ahead, complete required paperwork, and keep me informed via email HERE or. When in doubt, seek me out!

  • Every spring semester, ASUM distributes a large sum of money to student groups. Only currently recognized groups may apply for funding during the Annual Budgeting Allocation. 

    The ASUM Business Manager contacts all student groups at the beginning of each spring semester about the application process. Allocations are assigned in specific expense categories, such as supplies or meeting expenses, usually as requested by the group.

    This allocation process is for funds that will be made available for the following fiscal year (July 1 - June 30). ASUM allocated funds become available to groups in mid-August and are available for the school year. Funds which remain unspent by the spending deadline (typically the last few days in May) are reclaimed by ASUM to be redistributed in the next Annual Budgeting Cycle.

    Groups need to pay close attention to the expense categories they spend from, so they do not end up with a negative balance at the end of the fiscal year when ASUM removes unspent allocated funds. If you have questions about the spending process, please reach out to the Office Manager.

    Contact the Business Manager if you have questions about Spring Budgeting.

  • Special Allocations help fund groups hosting major events or meetings on campus or the Missoula area. Recognized groups can apply for Special Allocations anytime during the semester, but any funds that are awarded must be spent as awarded during that semester.

    • Contact the ASUM Business Manager if you have questions about a Special Allocation Request.
    • Contact the Office Manager via email HERE orto complete any Special Allocation Spending.

    Recommendations regarding Special Allocations are made by the ASUM Board on Budget & Finance and are then voted on by the ASUM Senate. When a Special Allocation is awarded, the funds are not transferred to the group's index. Instead, the expense is paid from an ASUM administrative account.

  • Travel Allocations assist Student Groups who are going on trips. Travel Allocation Requests may be submitted by recognized groups and are granted on a rolling basis during the school year. Travel Allocations must be requested in the semester in which they are to be spent.

    • Contact the ASUM Business Manager if you have questions about a Travel Allocation Request.
    • Contact the Office Manager via email HERE orto complete all Travel Allocation Reimbursements.

    Recommendations regarding Travel Allocations are made by the ASUM Board on Budget & Finance and are then voted on by the ASUM Senate. When a Travel Allocation is awarded, the funds may or may not be transferred to the group's index. If not, the expense is paid from an ASUM administrative account.

    APPLYING FOR A TRAVEL ALLOCATION IS INDEPENDENT OF ASUM TRAVEL REQUIREMENTS: Please visit the POLICIES page regarding all Travel in advance of your trip. 

  • The State Term Investment Pool (STIP) are for capital improvements with long-term value. STIP Requests helps purchase equipment with a value of at least $150 which will that will benefit your group for at least two years.

    • Contact the ASUM Business Manager if you have questions about submitting a STIP Request.
    • Contact the Office Manager via email HERE or to complete any STIP Purchases or Spending.

    Recommendations regarding STIP Allocations are made by the ASUM Board on Budget & Finance and are then voted on by the ASUM Senate. When a STIP Request is approved, the funds are not transferred to the group's index. Instead, the expense is paid from an ASUM administrative account.

  • Prior to any fundraising, groups must meet with the Office Manager to ensure that proper procedures are followed. Groups that fail to do so may be subject to sanctions as outlined in section 24 of ASUM Fiscal Policy.

    Groups may raise funds in a variety of ways:

    • Selling tickets to events
    • Selling products such as baked goods or T-shirts
    • Support from campus departments and administrative offices
    • Member dues
    • Contributions from national or local affiliates
    • Soliciting support from businesses and individuals 

    Note: In all fundraising, it is important that this distinction is clear and that the word DONATION is only used in the context of working with the UM Foundation (see below).

    All monies collected for a group must be deposited into the groups assigned ASUM account prior to dispersal. When conducting a fundraiser, club leadership must take note of rules around handling cash, checks, and other payment types. 

    • Paper: A Cash Log must be kept and submitted with cash and checks deposited intact.
    • Plastic: UM Card readers are available for checkout from the ASUM Office with advance notice.
    • Digital: A Stripe account that is available for student group use with advance notice.

    Any monies raised by groups are considered their own to spend as they want, as long as they are in compliance with state, UM, and ASUM Fiscal policy and procedures.

    Student Generated Funds carry over from one fiscal year to the next whereas Allocated funds have expiration dates in line with the fiscal year.

    Deposits

    All Student Groups must deposit fundraised monies with ASUM. If a group does not have an ASUM Index established, please meet with the Office Manager to get one started. 

    • Checks should be made out to the name of the group or The 91次元, not individuals.
    • Checks written to student groups must be deposited within 30 days.
    • Cash should be collected utilizing a Cash Log provided by ASUM. Please bring the cash log for filing; it will be used to verify the deposit is intact.
    • Cash must be deposited intact within seven (7) days of collection.

    Tax Deductible Receipts

    Student groups wanting to provide tax-deductible receipts for donations to the clubs must deposit those donations into an ASUM Foundation account. UM Foundation is a 501(c)3 that can provide a tax receipt on the club's behalf.

    Donation checks should be made out to UM FOUNDATION  with the name of the student group in the memo line and the word DONATION. Checks must follow standard check procedures. The Office Manager will forward them to the Foundation with the appropriate accounting information attached.

    The Foundation will send a receipt directly to the donor at the end of the tax year, as long as a mailing address is provided. UM Foundation will assess a 5% fee per donation to cover costs. After the funds have posted, typically about a month later, the donated funds can then be used by the student group to pay expenses.

    While not tax deductible, both the UM Foundation and the ASUM Office can provide acknowledgement of donated items or services.

    PLEASE NOTE: In all fundraising, it is important that this distinction is clear and that the word DONATION is only used in the context of working with the UM Foundation. Funds that are deposited into an ASUM Index rather than the UM Foundation are not considered a donation nor can a tax receipt be issued. If outside support (a check or cash from an outside entity) does NOT need to be tax deductible, it can be deposited into the club index with ASUM. 

    For further questions, contact the Office Manager via email HERE or

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