Budget and Funding Sources

When organizing an event, it is imperative for event planners to ensure proper funding is in place which is achieved through a thoughtful consideration of the subsequent elements.

Securing Funding

• What type of funding are you using?
• Does the fund have certain restrictions associated with it?
  • See FIN 403-01 for Prohibited Transaction List
• Will the cost of the event be coming from multiple sources?
  • Will there be transfers into an account from another unit or department at ASU?  If so, please work with Business Operations to make sure what information is needed when agreeing to the transfer

Charging a Fee for the Event

• Fees can only be charges for the cost of the event.
• If there is a fee with a donation associated with the event, please work with Business Operations to to set up the correct accounting.
• Event planners need to review the actual costs of the event and define based upon budget needs, what fee should be charged to participants.
• All payments need to be processed through STOVA.  Please review the steps on how to set up a fee in this system.
  • No payments should be made directly to the event planner.  All have to be processed through the system.

Refunds

• Event planners need to make sure that when processing a refund for a fee, that they record these both in Stova and Quickpay.

Fees Associated with Revenue

• Revenue collected with a credit card has up to a 3% overhead charge applied to it.  This needs factored into the cost of the event.
• All local accounts will have Administrative Service Fee (ASC) attached to each expenditure.

Budget Resources:

• Budget Template: Barrett Event Guide [Tab: Budget Planning Checklist]