Finance Committee

The project finance tracker is to be monitored by the corresponding Finance Associate(s). It serves as a consolidated Google Sheet concerning the finances of a project. To get started, make a copy of the Finance Tracker Template below. This should be editable only by the Project Heads, the Finance Associate(s), and the CFO. 

Included in the finance tracker are the following:

Budget Proposal

• Before the project, the Finance Associate(s) must accomplish this portion of the finance tracker together with the Project Heads and present it to the CFO in their budget hearing (to be done as early as possible). Content of the budget proposal includes:

  • Total expenses with detailed breakdown and target suppliers.

  • Target revenue from profit, fundraisers, sponsorships, etc.

• Upon approval, the Finance Associate(s) will paste the approved budget proposal to the F1 sheet in the Finance Tracker, and gather the needed e-signatures.

• The Finance Associate(s) must ensure that the approved budget is as much as possible strictly adhered to throughout the project and must inform the CFO if any expenses that were not included in the budget proposal need to be made.

Income Statement

• The Financial Statement is reflective of the project’s overall expenses, revenues, and profits. It is automatically prepared by logging in the day-to-day expenses of the project. The CFO must be notified once all expenses and revenues have been logged in the project finance tracker.

•  Upon approval, the Finance Associate(s) will finalize the income statement in the F2 sheet of the Finance Tracker, and gather the needed e-signatures.

Liquidation Report

• • The liquidation report is a record of all disbursements made by each committee of the project, to be used as a reference for reimbursements. This is prepared by the Finance Associate(s) while the project is ongoing. The CFO must be notified once all expenses have been logged in the project finance tracker.

  • Upon approval, the Finance Associate(s) will finalize the liquidation report in the F3 sheet of the Finance Tracker, and gather the needed e-signatures.

The deployed finance associate and Project Heads must fill up the necessary details in the Budget Hearing Template Slides.

After the accomplishment of the budget hearing slides, the Finance Associate(s) will present it together with the Project Heads to the CFO. This is preferably done before the core leveling off. In the budget hearing, the following must be presented:

1. Total expenses with detailed breakdown and target suppliers.

2. Justification/Reason for each expense made.

3. Target revenue from profit, fundraisers, sponsorships, etc.

4. A timetable of all down payments and other large expenses.

The deployed finance associates will be responsible for contacting the CFO through their communication channels to agree on a date for the budget hearing.

Besides the previously mentioned forms, the Finance Associate(s) must also gather supporting documentation for disbursements. The following are considered valid supporting documents: 

Guidelines to ensure validity of the receipts/invoices:

1. For the Sales/Service Invoice and Tape Receipts

   1. Billing Number

   2. Signature of Representative in Billing Statements (if applicable)

   3. Company TIN

   4. Indicate price breakdown of good/service rendered (include VAT amount if applicable)

   5. Statement is addressed to Ateneo de Manila University (NOT THE ORGANIZATION)

2. For the Electronic Receipt

• Following the example provided above, screenshot the receipt sent by grab to your email address.

These documents must be placed in the finance folder of the project using the filename [DocumentType]_ProjectName_Item (e.g. [Sales Invoice] Math101 Jollibee Meals). Failure to provide a valid supporting document for an expense will result in no reimbursement. 

In addition to the sales invoice, the reimbursement form is one of the required documents to be submitted by one of the EFAs or CFO through the Student Activities Payment System (SAPS)  in order to request for reimbursement of project expenses using AMS’ DCB account. Finance Associates must coordinate with the EFA assigned to their project for the submission of these documents on SAPS. 

Once the project has ended, the Finance Associate is to submit a project turnover form to the CFO at most two (2) weeks after the end of the project. Instructions on how to fill up the document can be found on its first page. After having submitted the turnover report, the FA is to hand over the funds generated from the project to the CFO if it was a revenue generating project. This is to be done once the CFO has approved of the project turnover and has reached out to the designated FA.