Finance and Funding

Finance and Funding

Finances:

Services Signing Officers

A Service must have three authorized Signing Officers – officials who can approve purchases related to the Service’s operations. Each Service must fill out the Services Signing Officer Form and then submit it to the SSMU office at the beginning of the fall semester, or when any change occurs. To be considered a Signing Officer, an individual must have proof of residence in Montreal (a lease, utility bill, etc.) as well as two pieces of photo ID.

Purchasing

Services must conduct all purchases for their operations under the supervision of the SSMU. All purchase orders and reimbursements must be signed and approved by the Vice-President (Finance) and the General Manager.

In order to proceed with a purchase, Services have three options:

  1. A member of the Service can pay upfront, keep the receipt, and be reimbursed. The maximum amount for these purchases is $50.00 (CAD). To process the reimbursement, the Service will submit a Petty Cash request.
  2. A member of the Service can pay upfront, keep the receipt, and be reimbursed. The maximum amount for these purchases is $200.00 (CAD). To process the reimbursement, the Service will submit a Cheque request.
  3. The SSMU can pay the bill or invoice directly to the vendor by using the Purchase Order request. The Purchase Order is a formal document issued to the vendor in which all the specifications, requirements, and conditions (discounts, warranties, deliveries, etc.) can be listed and confirmed. For Purchase Order requests, a quote from the vendor is a necessary attachment; for purchases of a larger sum, multiple quotes from different vendors must be obtained and considered before attaching the best option.

If your Service proceeds with a purchase of more than $200.00 (CAD) without the approval of the SSMU, there is a risk that reimbursement may not be issued.

Accounting Forms

Services must use the SSMU Accounting Form to process payments through the SSMU. If your bank account is under a different name than the one you use socially, and you would prefer that the information be confidential, you can indicate so on the form. Your cheque will then be enclosed in a blind envelope addressed to your preferred name.

Tip: Always save the form to your desktop and open it in Adobe Reader or Adobe Acrobat Pro. Please do not fill out the form directly in your browser as some of the PDF functions may not work.

Services are listed as internal departments of the SSMU. Please refer to the SSMU Department Listing and SSMU Account Listing when filling out the form to input the correct departmental number for your Service as well as the account number for the type of purchase being made, respectively.

Reimbursements:

Petty Cash [Under $50.00 (CAD)]

A member of the Service or their Signing Officer(s) may pay upfront, keep the receipt, and be reimbursed.

Please follow the steps below to submit your request:

  1. Check the box Petty Cash at the top of the Accounting Form.
  2. Enter all your contact information requested on the form (phone number and email).
  3. Attach all original, itemized receipts/supplier invoices and proof of payment for online purchases (i.e., bank or credit card statement). Photos of receipts/invoices will not be accepted.
  4. Input the Department Number assigned to your Service and select the appropriate expense account (SSMU Department Listing and SSMU Account Listing).
  5. Ask the Signing Officer of your Service to sign the form.
  6. Drop your form at the SSMU front desk.
  7. Keep a copy of the form and receipts for your records.

The SSMU Accounting Department will process petty cash forms in 1–3 business days. You will be contacted to pick up your reimbursement at the SSMU front desk.

Cheque Request (Reimbursement) [$50.00 – $200.00 (CAD)]

A member of the Service or their signing Officer(s) may pay upfront, keep the receipt, and be reimbursed.

Please follow the steps below to submit your request:

  1. Check the box Cheque Request at the top of the Accounting Form.
  2. Enter all your contact information requested on the form (phone number and email).
  3. Attach all original itemized receipts/supplier invoices and proof of payment for online purchases (i.e., bank or credit card statement). Photos of receipts/invoices will not be accepted.
  4. Input the Department Number assigned to your Service and select the appropriate expense account (SSMU Department Listing and SSMU Account Listing).
  5. Ask the Signing Officer of your Service to sign the form.
  6. Drop your form at the SSMU front desk.
  7. Keep a copy of the form and receipts for your records.

The SSMU Accounting Department will process cheque request forms in 5–10 business days. Cheques will be mailed unless otherwise indicated on the Accounting Form.

Please note that the SSMU cannot reimburse individuals who have paid vendor or business invoices out of pocket UNLESS they are billed to “Students’ Society of McGill University” or “Association Étudiante de l’Université McGill”.

If you tip a vendor and would like to be reimbursed, you must provide a receipt showing the amount before and after any tips.

Purchase Order [Any amount. Mandatory over $200.00 (CAD)]

A purchase order (PO) is an official offer issued by a buyer to a seller indicating the types, quantities, and agreed prices for products or services. This is the best option to ensure clear communication with the seller and keep track of the transactions more efficiently. This option also gives Services the option for the SSMU to make large purchases upfront and prevent members, staff, and volunteers from paying out of pocket.

Please follow the steps below to submit your request:

  1. Obtain a quote from the supplier, select the best quote (if applicable) and attach them to your PO request.
  2. For purchases up to $199.00 (CAD), you need to obtain 1 quote
  3. For purchase over $200.00 (CAD), you need to obtain at least 2 quotes (unless there is an exclusive contract with a supplier)
  4. Check the box Purchase Order at the top of the Accounting Form.
  5. Make sure all the required information is filled out on the PO form, including purchases made on a credit card.
  6. Input the Department Number assigned to your Service and select the appropriate expense account (SSMU Department Listing and SSMU Account Listing)
  7. Ask the Signing Officer of your Service to sign the form.
  8. Drop your form at the SSMU front desk for approval.
  9. Keep a copy of the form and receipts for your records.

The SSMU Accounting Department will process purchase orders in 3–5 business days. Once approved, the SSMU Accounting Department will provide the PO number to you and the vendor to proceed with the transaction.

Honorariums:

Service Funding

If your Service requests to pay an individual with certain honorariums – for example, work facilitators and one-off volunteers for events – they must complete the Request for Honorarium for SSMU Services.

A Service can use this form if:

  • the payment is made to an individual and not to a legal business organization
  • the total amount reimbursed to an individual is less than $500.00 CAD in a fiscal year; this applies if the person receiving the honorarium is a nonprofessional (i.e., not receiving another source of income)

An invoice is not required to proceed with payment, but all information on the form must be completed in order to receive approval for an honorarium.
Note: Honorarium payments will produce a T4A slip and becomes taxable income that is reported to the CRA if the annual sum of honorariums exceeds $500.00 CAD in extenuating circumstances.

Funding:

Service Funding

Please make sure to keep detailed records of any funding or revenue you gain as a Service; you will need them for your funding application, which requires detailed spending breakdowns for events. To be eligible for funding, your Services must be in compliance with the SSMU’s rules and regulations. Visit the SSMU Funding page for more information.

Sponsorship:

Service Sponsorship

External sponsorship can be a great way to raise funds for your Service and help finance some of your activities and events. Though SSMU Services have the authority to seek and negotiate sponsorships, they must do so within the guidelines prescribed in the External Sponsorship Guide.

The Process for Service Sponsorship

  1. If your Service has a sponsorship agreement opportunity, you must first declare it to the SSMU by submitting the Sponsorship Declaration Form, detailing all you have agreed upon in your meeting with the sponsor.
  2. Once the form has been received and your declaration is approved, the Operations Department will create a sponsorship contract on behalf of your group.
  3. Lastly, once the contract has been approved and signed by all respective parties, an invoice will be sent to the sponsor to collect all monetary sponsorship. For accountability and transparency purposes, all earnings made from sponsorship contracts shall be deposited into the Service’s bank account upon receipt.

Notes:

  • SSMU Services are not permitted to sign any contracts on behalf of themselves as they are not considered independent legal entities.
  • Please be advised that sponsorship also includes external parties tabling at your internal and external events. Sponsorship of any kind must be verified and approved by the Operations Department as there may be a conflict of interest due to existing contracts between the SSMU and certain suppliers (e.g., Promoting Coca Cola at your event when the SSMU has an existing contract with Pepsi) or a potential policy violation.
  • For any in-kind sponsorship (such as t-shirts, water bottles, granola bars, etc.), it is your group’s responsibility to make arrangements to receive these items.
  • Please note that all sponsorship sums received are subject to both GST and QST.

Should you require additional information, please contact the Operations Department at operations@ssmu.ca.

We do our best to ensure the site is as up to date as possible, but new developments in Service processes may take time to go live. Please take note that the information listed above may not reflect the most recent changes.