TOR OF THE IBA STUDENT COUNCIL (ISC)
The IBA‐wide Students Council (ISC) will comprise of the following five members to be elected by all IBA students (except Evening Program students):
- Vice President (Vice President)
- General Secretary (GS)
- Treasurer (TR)
- Campus Coordinator (Main Campus)
- Campus Coordinator (City Campus)
The Dean & Director IBA will be the ex‐officio President of the ISC, he will be assisted by the Student Counselor (SC) under whose overall guidance the members will:
- Prepare a Calendar of Events (CoE) for the whole year.
- Prepare the annual budget for all the activities to be undertaken including the projected sponsorships and get the concurrence of the Director Finance.
- Present the COE and annual budget to the Director IBA and get approval within 3 weeks of commencement of the Fall Semester.
- Organize all social functions such as annual dinners, picnics, excursions, social get together
- Allocate the budgets for the activities and release the tranches to concerned office bearers.
- Guide, help, supervise and facilitate the activities of the student societies.
- Carry out other activities as designated by the President of the council from time to time.
- Ensure adherence by all concerned of the IBA Code of Conduct and display highest standards of probity, integrity, impartiality and service while performing their duties.
- Get the expenses audited the same year.
TOR OF THE STUDENTS SOCIETIES AND CLUBS
The Student Societies at IBA are formed in three distinct clusters, namely the (Co‐Curricular activities cluster), the (Extra‐Curricular activities cluster), and the (Service Activities cluster). Each society will have twelve office bearers - a Manager, assistant manager, two Coordinators, a Treasurer and seven members of Executive Council. Membership of these societies will be open to all students enrolled at IBA. The elections of the office bearers will be open to the regular students of the morning programs as active members of each society who will enroll themselves in the first week of September. Each student can be an active member of maximum three societies. Students on probation, those having a CGPA of 2.5 or below, and those undergraduates who are in first or second semester will not be eligible to contest the elections. Each society will have a faculty member as Patron. The elections of the office bearers of each society will be held under the Chairmanship of the Patron. The tenure of the office bearers will be of one year. Each society will have the following twelve office bearers working under the overall guidance of the Patron:
- Assistant Manager
- Two Coordinators (1 for each campus)
- Seven members of the Executive Council
The Executive Council
All the Eleven office bearers will form the Executive Council of the Society. The Executive Council of each society will prepare their annual work plan and the budget associated with it, under the guidance of the Patron. Each society, at the time of submission of the budget, should indicate (a) what are going to be the mega / other events of the society / club in the year (b) the estimated amount to be generated through sponsorship (c) the amount needed from IBA.
A. The Patron
The role of the patron is to encourage the office bearers and members of the respective club / society developing their managerial, social and team work skills. The patron's duties and responsibilities and level of involvement in the respective club / society activities are to be in accordance with the patron's individual level of interest, however, as a minimum they include but are not limited to the following:
- Supervise the conduct of the election of office bearers.
- Address the office bearers and members of the society / club at least once per semester; usually in September and January.
- To provide knowledge, experience, networks, advice, leadership and guidance to the Office bearers in the preparation of the calendar of events to be conducted.
- Monitoring progress of preparations for the planned events, particularly in regard to arranging of sponsorships.
- Exercise a hands on role during the execution of the activities/ events.
- Uphold, and be accountable to the Dean for orderly management of events and economical spending of the resources and funds made available to the society / club.
- Be available to preside at ceremonial events such as openings, awards presentations and
- Ensure that club / society disciplinary matters are dealt with appropriately.
- Ensure that the financial guidelines should be complied by the office bearers.
B. Office Bearers of IBA Societies/Clubs
The manager acts as the overall head of society and is responsible for the overall running of the society events and its success. One of the manager's most important roles is organization and coordination of all activities of the club. He or she should lead from the front and set the tone of the club culture, eventually guiding the team to achieve the desired objectives. He or she should be able to involve all members in the work and activities of the group to make it a success. The role of the manager is to:
- Decide about the mega event of the society, its logistics, and its budget.
- Plan and outline the events and conferences to be conducted and organized by the society, book the venue, prepare the calendar of events get it approved from the Patron and disseminate to the Administration, Finance Departments and Student Councilor.
- Acquaint each member of the committee with its function, responsibility, and duties
- Conduct interviews, form a management team for individual events, divide the team into different departments and assign heads to each department.
- Maintain personal contact with the patron and keep him informed of the important developments.
- Play a lead role in organizing events and managing all the teams working in different departments.
- Arrange sponsorships from the corporate sector and deal directly with the clients associated with the society events.
- Prepare a closing report at the end of the tenure and submit it to the patron to ensure the sustainability of the society
- Work in equivalence with the team members and welcome all suggestions, ideas, and opinions.
- Brief the patron /office bearers with the standard operating procedures and ensure compliance with the financial guidelines for organizing various events.
- The Manager should ensure that report on each event duly approved by the Patron, should be described and documented on the IBA Web / portal reports section within two days from the closure of event.
The Assistant Manager is responsible for facilitating the manager in his tasks and responsibilities along with other society members to run the society. The AM may demonstrate exceptional leadership qualities in ensuring the harmony of the panel maintained at all times. He or she may;
- Ensure that the operations of the society are running smoothly;
- Plan duties needed to be carried by other members of the society;
- Monitor and directing the team into carrying out their jobs effectively,
- Look after decisions if the manager is away, with the consent of the whole team.
The Campus Coordinators is an integral member of the society, he is responsible for delivering, building and developing projects of varying size and complexity. The coordinator is responsible for directing, organizing and controlling project activities, with the consultation of the manager, including collaboration with the sponsors and other teams / societies. They are to be the focal persons for dissemination of information and coordination with the members of the society / clubs in the concerned campus. The campus coordinators are required to demonstrate exceptional leadership qualities for ensuring that cooperation and support are received from all members of the society in their respective campus. More specifically their duties require them to:
- Confirm booking of venue and prepare the same for the respective event.
- Attend meetings and assist the society members with determination to fulfill the society's project requirements.
- Assist the Manager in the drafting and issuance of project proposals.
- Communicate ideas to the group for improving society processes with a positive and constructive attitude.
- Take responsibility for the day to day coordination of planning and executive support, across all programs and operations of the society.
- Market the event in their respective campuses.
- Conduct meetings on behalf of the Manager in their respective campuses to plan and execute various events.
- Receive account for stock and distribute all promotional material provided by the Sponsors.
The role of the Treasurer is to act as the Chief Financial Officer of the Society and maintain track of all financial transactions and source documents. The treasurer will exercise overall control on the preparation of the society budget and prepare event wise plan for funding, pre-audit and expenditure of the funds for the respective event. Most importantly this person must act ethically and make sure all team members are following the financial guidelines regarding procurement, funding and sponsorships arrangements. The specific duties of the treasurer include:
- Ensure that all provisions and rules given in the Financial Guidelines for Societies / Clubs are being complied.
- Scrutinizing the sponsorship proposals / MOU's, receipts and expenditures.
- Preparing RFQ and obtaining proper quotations for goods and services made available to societies.
- Keeping track of all the receipts and expenditures, and ensuring that the total expenditure on society events does not exceed the allocated budget.
- Preparing and presenting the society's budget and financial position.
- Providing an end of year financial statement and bank reconciliation statements.
- Coordinating with Finance department and ensuring that payments for goods, services, and facilities utilized by the society are made on time and receipts obtained.
- Compile and send details
Event Coordinator (EC):
The event coordinator is selected for each event from amongst members of the executive council. He / She is the gatekeeper for the manager of the society / club and may be assigned the following duties:
- Coordinating and facilitating the activities of a particular event / activity.
- Allocating duties to individual members of the society / club pertaining to the conduct of an individual event.
- Developing and distributing the promotional material related to a particular event.
- Ensuring the orderly sale of tickets and entry, assembly, and proper conduct of participants in an event.
- Performing other assignments and tasks as determined by the manager.
FINANCIAL GUIDELINES FOR STUDENTS SOCIETIES, CLUBS &ISC
1. To facilitate the Students' Societies in conducting their financial affairs in an organized manner and within available financial resources.
2. To brief the office bearers / patrons with the Standard operating procedures and guidelines for organizing various events.
Financing and Budget:
a) A contribution to finance student activities shall be made, at the time of fee payment, by every regular student at an amount approved in the IBA Budget.
b) There shall be a dedicated bank account in the name of "IBA Students' Societies" and the total funds contribution will be transferred to said bank account upon finalization of list of enrolled students.
c) No refunds are made to students leaving IBA on account of contributions for students' activities once the funds are transferred to dedicated bank account.
d) The members of the societies may generate sponsorships, sell the event tickets, make additional contributions, etc. The funds will be generated in the name of IBA Karachi only, via a crossed cheque. The cheque will be deposited immediately in the designated bank account for student societies.
e) Each society, at the time of submission of the budget, should indicate
i. The estimated amount to be generated through sponsorship, etc.
ii. The amount needed from IBA.
f) The Budget shall be allocated to Students' Societies by the Dean / Director IBA.
g) The funds allocated to the student society shall only be utilized for purpose / event for which it is approved.
h) Extra incentive amount will be given to those societies/clubs at the time of budget allocation that plan to arrange joint/ combined event(s).
i) The excess amount of sponsorship or ticket money raised during the year will be carried forward to the next year. The remaining balance of budget contribution from IBA will lapse at the end of the year and credited to Student Welfare Fund.
j) The societies/clubs will be allowed to transfer their own budget to other society/club for organizing joint/combined events. All other such requests will be submitted to the Budget Allocation Committee headed by the Dean and Director.
CALENDAR OF EVENTS
a) There shall be a calendar of events, prepared by the ISC members, in coordination with the students' societies.
b) The calendar of events shall be approved by the Students' Counselor.
a) For each planned event, there shall be proposal approved by the Patron.
b) The proposal shall be supported with planned funding and expenditure statement for control purposes.
c) The statement shall clearly indicate the funding of events i.e. whether to be financed from allocated budget, sponsorships or both.
d) To avoid emergency situations, complete proposal shall be submitted to the Finance Department as follows:
- Up to Rs.100,000/‐ ‐ At least five working days earlier
- Above Rs.100,000/‐ ‐ At least ten working days earlier
a) MOU for sponsorships must be approved and signed only by the Patron of the Society / club.
b) Each society shall make maximum efforts in arranging sponsorships as per the approved budget plan.
c) The sponsorships / contributions from organizations shall be received via a crossed cheque in the name of IBA, Karachi.
d) The cheque shall be accompanied with a letter from the donor / sponsor indicating the title of sponsored event along with the sponsorship requirements.
e) The office bearers shall be held responsible for complying with the sponsorship requirements.
f) The sponsorship shall preferably be received in advance of the event.
g) The payments for sponsored events could only be made once the sponsorship amount is received.
a) Each society shall ensure the event is organized within the approved budget / sponsorships arranged by them.
b) When the sale of tickets for any event is planned, its proposal shall include proper reasoning about the ticket selling.
c) The format of the ticket, its required quantity along with the selected serial numbers and the duration of sale shall be approved by the Patron.
d) The work order issued to the printer shall indicate the sequence numbers.
e) The work order shall also necessitate keeping the ticket format 'Confidential'.
f) All the tickets shall be sequentially numbered.
g) Before selling the tickets, all the tickets shall, either be signed, or stamped by the Finance Executive - Students' Societies for its validation.
h) The sale of tickets shall be made by the office bearers authorized by the Patron.
i) The Cash Received from the sale of tickets shall be deposited in the designated bank account of Students' Societies immediately by the office bearers, i.e. either at the end of the same day or the next working day.
j) The original deposit slip shall be deposited with the finance department. It is suggested to retain a photocopy of the deposit slips for final reconciliation.
k) Once the ticket sale duration is over, the unused tickets shall be cancelled and then submitted to the Finance department and duly reconciled, preferably on the next working day.
l) The Finance department representative will assist the office bearers in spot checking of the tickets at the entry gate of the event.
INCURRENCE OF EXPENDITURES
a) There will be a list of prequalified vendors for Printing, Catering and other major expense items common to all the societies.
b) Procurement will be made only through these vendors on the basis of lowest cost and best quality.
c) Exceptions will be allowed in extreme cases with the prior approval of patron & Finance Deptt, only when the quoted prices are lower than those submitted by the prequalified vendors.
d) Specific additional approval from the Dean and Director is required in case of fund allocation by any society/club to the student for going abroad for attending conference. Further, if any society/club sponsors the student(s) to attend any conference/workshops/seminars within the country the objective of such conference should be in line with the society's/club's objectives.
EXPENSE MORE THAN RS.5,000
a) The market cost comparison shall be arranged for such expenditures above Rs.5,000/‐.
b) For this purpose, the request for quotations (RFQ) shall be sent to the prequalified vendors or to the open market in case the prequalification of such vendors is not done.
c) The RFQ shall be comprehensive to meet the exact requirement.
d) Three GENUINE Quotations shall be arranged. Fake quotations will not be accepted.
e) The market cost comparison statement shall be prepared.
f) The lowest vendor shall be selected, if not, the work / purchase order shall indicate the JUSTIFIED reasons for not selecting the lowest vendor.
g) The comparative cost statement and the work/purchase order, as per the prescribed formats, shall be signed by:
i. the Patron (or by the Students' Counselor in case of ISC),
ii. the Manager of the Society (or by the Vice President in case of ISC)
iii. the Treasurer
iv. the Finance Department (for pre‐audit and funds allocation)
h) The work / purchase order will be followed after the above, with signature of the below:
i. the Patron (or by the Students' Counselor in case of ISC),
ii. the Manager of the Society (or by the Vice President in case of ISC)
iii. the Finance Department representative
For hiring ALL CONTRACTUAL services, including musical band a comprehensive contract, including the disciplinary clause, should be signed between IBA and contractor / musical band before hiring services for any student society event. Further, the contractor / musical band should be hired after having brief discussion with the knowledgeable persons in the musical field.
FOR PETTY CASH EXPENSES
a) Request for an advance against petty cash expenses shall be signed by the Patron (or by the Students' Counselor in case of ISC).
b) The ADVANCE shall be disbursed in the name of Patron ONLY.
c) Such request shall be made at least five working days before the requirement.
d) It shall contain the list of expenses for which advance request has been made.
e) The IBA transport / communication facilities required to arrange the event shall be approved by the Patron. No reimbursement / adjustment will be allowed for such expenses.
f) The office bearers shall be responsible for the timely adjustment (within one week from the date of event) of advance issued against expenses.
g) Such adjustment will be made by submitting proper receipts along with the statement signed by the Patron (or by the Students' Counselor in case of ISC).
a) All payment requests for expenditures shall be approved jointly by the Patron (or by the Students' Counselor in case of ISC), the Manager of that Society (or by the Vice President in case of ISC) and the Treasurer.
b) The total of such payment requests for a particular event shall be within the budget approved for such event.
c) Utmost efforts shall be made to make all payments directly to the supplier via a crossed cheque.
d) In case of petty items or where cheque payments cannot be made, advance for such petty purchases will be issued to the patrons (with his / her consent).
e) The advance disbursement will be subject to adjustment against production of receipts / supports of expenses.
f) Payment request shall indicate that the work / procurement has been completed / made satisfactorily.
g) The payment request shall be accompanied with the following documents:‐
i. Invoice from the Supplier with contact details (where applicable GST invoice must also obtained)
ii. Work / Payment Order signed by the Patron (or by the Students' Counselor in case of ISC)
iii. Three quotations along with comparative summary
h) It is the responsibility of the office bearers to submit the documents for payment on time for timely payments to the vendors.
i) Upon receipt of complete documentation (including sponsorship receipt, where applicable), the payment shall be released within five working days by the Finance department.
j) In case of any noncompliance from these financial guidelines the office bearers should be responsible to regularize it by the Patron and by giving proper justifications. If these justifications are reasonable ONLY then the payment will be released.
k) In case of any gross financial irregularity with respect to these guidelines like fake quotation(s), etc. presented with any payment the case will be forwarded and reported to the Director IBA. The Director instructions will be followed in all such cases.
Each event should be described and documented on the portal immediately within 2 days. Those who fail to meet this will not be allowed to draw their budget.
CLOSURE OF THE EVENT
a) Upon completion of the event, the Treasurer is required to close that event by submitting receipts and expenditure statement on actual basis.
b) Such statement shall indicate savings and approved by the Patron (or by the Students' Counselor in case of ISC).
Financial Advisory / Audit:
a) Director Finance will act as the Financial Adviser to the Students' Societies / ISC and will advise and guide them in their financial matters according to the procedures laid out.
b) The accounts of the Students' Societies shall be maintained in the manner prescribed in the basic financial guidelines as mentioned above.
c) Director Finance will get the expenses audited along with audit of IBA's Accounts.