Finances

1. All finances must be completed through Campus Clubs on the Ooks Life website.
2. External bank accounts are an extreme violation of club policy.
3. Two weeks after holding a fundraiser or event that involves collecting funds, clubs must submit a Event Finance Summary Form. Clubs that fill out the Event Finance Summary Form will be given preferential consideration for grants.
4. No club executive or member may receive a wage or salary for their role in the club. However, club members can be reimbursed via purchase requests for money spent on club events/projects or receive money from sponsorships.
5. NAITSA reserves the right to retract/freeze funds should concern arise regarding the club financial practices, , such as, falsifying receipts.
6. Financial signing authorities (the club President, VP Operations and VP Finance) assume responsibility to ensure funds are spent appropriately.
7. The NAITSA Finance Department may undertake random audits on various clubs. The VP Finance must produce all financial documents to Campus Clubs. Failure to do so or discrepancies in the documents will result in a bad standing designation. It is advised that you hold on to the receipts for the full term of your positions, a minimum of one year in case of audits. Helpful tip – in case an audit occurs, take pictures of receipts throughout the year and keep them in a secure Google Drive Folder for at least a year.
8. Due to financial transparency, the only approved methods of electronic payment include Square and Eventbrite all set up by NAITSA. E-transfers can only be used to send direct deposit(s) to NAITSA. Do not use your personal bank account to store club funds or reimburse students.

Every club has their own individual four digit banking number. You will need this number when you submit purchase requests, apply for grants and submit e-transfer deposits. You can find your club’s banking number and financial history on Ooks Life:

1. Club Banking Number 

Each registered club has their own unique four-digit banking number linked to their primary account on Ooks Life. A club banking number is used when submitting a purchase request, applying for grant funding and completing a deposit. 

2. Primary Account 

A primary account is where club funds are held. Club funds include any money collected from fundraisers, donations and sponsorships. The primary account shares the same name as your club.   

3. Sub Account 

A sub account is where approved grant funds are held. Sub accounts are labelled based on the grant intake number and approved grant application title.  

4. Purchase Request 

A purchase request allows a club to withdraw funds from either their primary or sub account(s). This type of request is used to pay for items and services that a club may need. 

5. Reviewer Stages

Once a purchase request has been submitted on Ooks Life, the mandatory reviewer stages must be completed by all three of the financial signing authorities. A reviewer stage is complete once a club position title is selected, a written comment of “approve” or “deny” is provided and the decision is saved by all three reviewers

6. Signing Authorities

Each club must have a minimum of three members including VP Operations, VP Finance and President. These three club roster positions are collectively referred to as the financial signing authorities.   

7. Unapproved Status

Is another way to say pending. This request will remain in pending status until a further decision is made.    

8. Approved Status 

The request has been approved by NAITSA Campus Clubs for processing. The approved funds are marked as encumbered and are not included in the club’s available balance. At this point, consider the money spent. 

9. Completed Status

Is reserved for NAITSA Campus Clubs. It indicates the request is completely finished. The approved funds are no longer encumbered and have been issued to the payee by NAITSA Finance. (At this stage, payment is ready for pickup or has been mailed according to instructions)

10. Cancelled/Denied Status

The request will no longer be processed by NAITSA Campus Clubs. Clubs will need to make a new submission if possible.

11. Deposit

A deposit occurs when a club gives money to NAITSA Campus Clubs to place in their primary bank account on Ooks Life. Campus Clubs accepts cash, cheque and e-transfer deposits from clubs. Clubs can deposit money with NAITSA in-person and/or remotely. 

12. In-Person Deposit

An in-person deposit occurs on-campus at the Campus Clubs front desk in the NAITSA office (O108). A Campus Clubs staff member will assist a club in counting and collecting their physical cash and/or cheque(s). The monetary value of the deposit is recorded in the club’s primary bank account on Ooks Life.     

13. Remote Deposit

A remote deposit occurs when a club mails a cheque and/or sends an e-transfer to NAITSA. In both instances, a club must submit the Club Deposit Form on Ooks Life. This allows NAITSA Campus Clubs to anticipate  incoming deposits. 

Once a purchase request goes through the appropriate steps by the club, outlined in the following section below, it will be either approved or denied by the Campus Clubs Finance Supervisor. If approved, the Campus Club Finance Supervisor will submit a cheque request form to NAITSA Finance, who will then issue a cheque. Once the cheque is processed by NAITSA finance they will be given to NAITSA Executives to sign.

Every cheque needs to have two signing authorities sign off on the cheque. The signing authorities for the 2024-25 school year are as follows:

• Chris Chelmick (Executive Director)
• Leeanne Mills (Administration Director)
• Jenna Luczak (President) OR
• Marina Bruno (VP Academic).

Each cheque requires two signatures, one signature has to come from Chris Chelmick or Leanne Mills. The second signature has to come from either Jenna Luczak or Marina Bruno. If singing authorities are out of office, this may result in dely’s. However, clubs will be notified of any foreseeable delays with as much notice as possible. Once two signing authorities have signed the cheque, the cheque will be processed by the Campus Clubs Finance Supervisor, who will then move the club cheque from “approved” status to “completed” and notify the club their cheque is ready for pick up or mail out. As a result, once your club completes their reviewer stages and the cheque is approved by the Campus Clubs Finance Supervisor, expect the wait to be a minimum of 1 business week.

No, cash is not disbursed.

Step 1 – Ensure you have enough money in your club bank account before you spend and submit a purchase request.

Step 2 – Submit a purchase request on Ooks Life. The video below will demonstrate how to navigate to submit a purchase request or follow the steps below. 

Step 3 – Complete the required purchase request form. Make sure to check the receipt amount(s) are correct before submitting. Any incorrect amounts will result in unwanted delays in processing your purchase request.

         Fill out the following information:

a. Request details including subject, description, requested amount, categories and account. When choosing an account, specify whether the purchase is being paid for using club or grant funds. Note, do not spend money for grant funds unless your grant application has been approved.

b. Payee information including full name and address. Including the payee’s address is mandatory when choosing to have the payment received as a mailed cheque. Note, any missing information will result in unwanted delays in processing your purchase request.

c. Additional information including club banking number, indication of GIV’ER donation, how the payment will be received and uploaded documents.

There are three ways cheques can be received:

1. 1. Cheque (Mail)– this will be mailed to the exact address provided. As a result, it is crucial that the full and correct information is submitted.
   2. Cheque (Pick up at Campus Clubs 0108)- the cheque will be stored at the Campus Clubs Front desk in the NAITSA office (O108) and distributed Cheque (Pick up at Campus Clubs 0108when picked up. ID is required upon pick up to receive your cheque.
   3. Inter-office mail (mail within NAITSA, i.e Campus Clubs, Nugget, SATV’s, NEST, Food Centre)- select this option when money is being paid to any NAITSA entities listed.

Step 4 – Upload receipt and/or invoice as a single file, no larger than 10 MB. Please ensure the receipt(s) submitted are clear and legible. If not, this will result in unwanted delays in processing your purchase request.

a. This is a requirement for all purchase requests except cleaning and locker deposits.

b. If you lost your receipt or do not have an invoice, upload the missing receipt doc and provide an explanation as to why there is no receipt or invoice.

Step 5 – Before you submit, it is important to check that you have provided the correct club banking number, indicate whether club or grant funds are involved and specify how the payment will be received by the payee.

Once you have ensured all your information is correct, click the Submit Request button. Your purchase request will now need to be reviewed by the three club signing authorities (President, VP operations, VP Finance), instructions on how to perform the reviewer stage are in the “purchase request reviewer” section below.

It is important to provide the correct club banking number, indicate whether club or grant funds are involved and specify how the payment will be received by the payee.

(Skip to 4:12 in the video for video demonstration)

Once a purchase request has been submitted, all three financial signing authorities must complete their designated reviewer stage by commenting their decision on the request. All three financial signing authorities must approve the request before Campus Clubs approves for processing.

The reviewer stages have to move in the following succession:

Again, these stages must be completed in the exact order seen above.

When a purchase request is submitted on Ooks Life, the submitter stage is automatically generated along with the comment ‘Initial Stage Set’. This stage does not equate to a financial signing authority stage.

Step 1 – Navigate to your organization page and select the manage gear icon.

Step 2 – Select finance from the drop-down menu of the organization tools.

Step 3 – As a financial signing authority reviewer, you will see a full list of your finance requests. This includes purchase requests which you can review by selecting the desired request tile.

Step 4 – Choose the stage that matches your financial signing authority title from the stage drop-down menu and comment either ‘approve’ or ‘deny’ in the stage change comment section. A comment is not optional, it is mandatory. Make sure to click save to record your final decision.

Step 5 – Campus Clubs will approve the purchase request once all three club’s financial signing authorities have completed their individual reviewer stage. Campus Clubs reserves the right to reset (push back) reviewer stages if a financial signing authority fails to complete their individual stage and/or provide a comment. They will be required to re-do their stage and comment. Resetting a single stage or more can delay how quickly a purchase request submission is approved by Campus Clubs.

Step 6 – Allow one business week after the purchase request has been approved by Campus Clubs for the payment to be issued.

Unapproved – Is another way to say pending. This request will remain in pending status until a further decision is made.

Approved – The request has been approved by Campus Clubs for processing. The funds that are approved are marked as encumbered and are not included in the club’s available balance. At this point, you can consider the money spent.

Completed – Is reserved for Campus Clubs staff. It indicates that the request is completely finished. In other words, a payment has been made and the funds have been issued to the indicated payee by NAITSA Finance.

Cancelled/Denied – The request will no longer be processed by Campus Clubs. Purchase request submissions that are denied is most likely due to inactivity of the purchase request. For example, purchase requests that remain in pending status for 2 months (60 days) or more will be denied by Campus Clubs on Ooks Life. Clubs can create a new purchase request submission if necessary.

1. Receipt or invoice has not been uploaded/ incorrect amount calculated by the club.
2. Financial signing authorities have not completed their review stage yet or committed “approved” for the request.
3. Purchase request is filled out incorrectly.
4. Insufficient club funds.
5. NAITSA signing authorities are away (you will be notified in this case).

1. Bring the deposit (cash, cheque) to the Campus Clubs front desk (O108).
2. Complete a club deposit slip provided by Campus Clubs. This slip will have you calculate the grand total of your club deposit in physical bills, coins and/or cheques. Coin rollers are available upon request.
3. A member of the Campus Clubs staff will complete a second count of the deposit.
4. A receipt of your deposit will be provided to you from Campus Clubs. Ensure that you keep this for your club records.
5. The deposit will be recorded in your club’s primary bank account on Ooks Life by the end of the business day.

CHEQUE

Step 1 – Mail the cheque to NAITSA. Use the following address below:

NAITSA Campus Clubs c/o “Your Club Name”
11762 106 Street, Room O108
Edmonton, AB, T5G 3H4

Cheques must have “NAITSA” or “NAIT Students’ Association” in the payable line. Cheques with only the club name cannot be deposited. Place the club name in the memo line.

Step 2 – Submit the Club Deposit Form on Ooks Life. Enter your club banking number, monetary amount and description of the deposit. Upload a photo of the cheque as evidence.

Step 3 – Allow 1-2 business days for Campus Clubs to verify that the cheque was received by NAITSA Finance.

Step 4 – Campus Clubs will approve your form submission thereby indicating the cheque deposit has been received and credited to your club bank account.

E-TRANSFER

Step 1 – Send your e-transfer to NAITSA at accounts@naitsa.ca

Step 2 – Submit the Club Deposit Form on Ooks Life. Enter your club banking number, monetary amount and description of the deposit. Upload a screenshot of the e-transfer sent to NAITSA as evidence.

Step 3 – Allow 1-2 business days for Campus Clubs to verify that your e-transfer deposit was received by NAITSA Finance.

Step 4 – Campus Clubs will approve your form submission thereby indicating that the e-transfer deposit has been received and credited to your club bank account.

Please Note:

• E-transfer deposits can be sent to NAITSA by anyone in your club.
• After completing an event or initiative, all collected funds must be sent to NAITSA as a whole. Do not send in money from individual customer sales. NAITSA is not responsible for lost/stolen funds.
• E-transfers are intended for lump sum amounts, not individual transactions for bake sales. Other services are set up to collect money, such as Square.

Electronic Fund Transfer to NAITSA ( EFT)

Please note EFT is different from an e-transfer, e-transfer uses email to send funds.

The EFT is reserved for companies wanting to pay clubs through a direct deposit to NAITSA. The most common times EFTs are when companies want to pay clubs their portion of a fundraiser or sponsorship via direct deposit.

For a company to set up the EFT to NAITSA please click here (Select NAITSA Payment Instruction Data Sheet).

1. Club financial signing authorities (VP Operations, VP Finance and President) take the responsibility of ensuring that the club loan is repaid in full.
2. Funds are only to be spent as indicated in the proposal.
3. All loans must be repaid.
4. No further loans will be issued until the current loan is repaid in full.
5. NAITSA reserves the right to freeze the club account and garnish the account until the loan is fully repaid.
6. The loan must be paid back within a one-week period following the activity, accompanied by an Event Finance Summary. 
7. Club executives are held personally responsible for the outstanding loan.
8. Loans cannot be carried over to the next year or left unpaid by the incoming group.

Loans are only reviewed from September 1 to March 18.