Club Finance Update- FYI
ceeclub president
Dear maincoms
On 8th Feb, Financial controller and I have reviewed and re-budget our club finances.
Below are the outcome:
1. In view of our favourable support from sponsors, we have decided to increase the budget for CEE Day and Night and CEE Seminar separately. The Increased sum will go into increasing our attractiveness of events. For example, purchasing more prizes and having stronger publicity. Social and Welfare will be made known of the details separately.
2. We have also reviewed the budget for Oversea trip together with Valerie. We will be approaching SAO and AAO to seek funding to subsidies our participants. Each participant is estimated to need $600 before subsidies. (details only for internal use, please refer to Valerie further details)
3. We have looked into the SEMESTER ONE EVENT CLAIMS. ALL have been submitted on the first week of Jan 2012. The party to claim from is Office of Finance. We understand that maincom have used your own money and are waiting for the school to reimburse you. From experience , the reimbursement process will usually take 1.5-2months. Please be patient as NTU finance system has many red taps.
4. We have looked into PMS and Seminar Room Duties. The Party to claim from is the CEE school. Marvin is working on processing the claims. The delay has been partly due to the Misunderstand within the school as I have mentioned. We have set a deadline of 19th Feb. we hope you can be patient and explain to anyone waiting for payment. The duration of the reimbursement depend on CEE School.
Our Mistake: For item 3 and 4, we apologies to maincom and all parties as part of the delay was due to us not familiar with the Finance system. Item 3 could have been submitted earlier.
Solution:In order to help of the “financially-tight” friends, We have decided to make available $600 to all whom are waiting for reimbursement and are urgent in need of money. Marvin and I have decided to take the money from our pocket first as we understand some of the students( PMS Mentors) may need reimbursement urgently. Money can be returned to us once School/office of finance has reimbursed the money. Please approach me for this.
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I hope to use this letter to set in motion a change targeted on our club’s communication. As a large organization, passing of communication is very important.Big companies all of their separate communication department. I hope we can look into communication 1. Within the maincom, 2.maincom to subcom, 3. Maincom to external, 4.Schoo to club. The end goal is to establish a communication system such that clear and complete information is shared among all.
Lets help to build the future together!
LI ANG
President
21st Management Committee
Civil and Environmental Engineering (CEE) Club
Nanyang Technological University