Additionally, because there is inherent risk involved in MIT's outlay of funds subject to later reimbursement, faculty must designate, at inception, another cost object which will alleviate any possible deficit. A faculty member realizes a need to create a cost object within the parameters above. The faculty member drafts a letter explaining the need and designating another account to cover any shortfall and forwards it the Director of Conference Services. The Assistant Controller reviews the request and either requests more information or approves the creation of the cost object. GL account 101225 monthly.
Alumni administers all reunion associated activities and alumni related clubs.
There is a need to track cost and income by reunion class or club. This will be achieved in SAP by the use of internal orders. The recovery of expenditures made on these internal orders will be the responsibility of the Alumni Association. Additionally, because there is inherent risk involved in MIT s outlay of funds subject to later reimbursement, the Alumni Association must designate, at inception, another cost object which will alleviate any possible deficit. As expenditures for a reunion or club are made they will be posted to an internal order associated directly with the reunion class.