2.744
Project Finances
Home > Project finances

This document covers the project budget, making purchases, and shipping.

Project Budget
Each team has a budget of $700 to purchase materials, supplies, and resources for the project.

Some materials will be provided in the team work space, but in general you will need to purchase most of the materials needed for prototyping. Budgets cannot be used for non project-related items, including food.

One person on your team should take responsibility for keeping track of purchases and managing your budget.

 

Purchases and Reimbursement
If you are unsure about whether using your budget for a specific purchase is appropriate, please ask the course instructor.

Remember to use a tax exempt form. MIT will not reimburse you for tax. Also using the MIT tax-exempt number for non-class purchases is against the law!

To pay for work done within MIT, you may use an internal requisition form.

For purchases outside of MIT, there are two ways to draw funds from the team budget.

A. Use your own cash (or credit card). Buy what you need, keep the receipts and submit them to your financial officer. The financial officer will fill a request for reimbursement, file it with the course administrative assistant, and then you will be reimbursed (typically within a week or two).

B. Request a purchase order so that MIT purchasing office will buy the items for you. The financial officer will fill out a requisition (internal or external), the course administrative assistant will process the requisition, MIT will issue a purchase order number, and then you place your order using this number.

All receipts must be turned in according to the instructions below no later than Monday, May 19, 2014. Receipts must be received by then to be reimbursed.

Use your own cash

You can use your own credit card or cash to buy items and then be reimbursed afterwards. If all stars align correctly, you might be reimbursed in as little as two weeks.

Request a purchase order

If you are purchasing within MIT see the internal requisition section below. For outside purchses you can arrange to have MIT pay for the items directly.You need to provide the vendor with a purchase order number.

Use an internal requisition form

This is the method of payment to use when purchasing items within MIT (such as the central machine shop) or selected vendors. A vendor list is available at: http://web.mit.edu/ecat/.

 

Shipping Address
For all orders delivered to MIT, use the following address:

Massachusetts Institute of Technology
32 Vassar Street
YourName, c/o 2.744 Team YourTeamName
LMP Room 35-110
Cambridge, MA 02139

Your order will be delivered to the LMP shop.

When the order arrives make sure you save the receipt/invoice/packing slip and give it to your team budget manager. Please see the appropriate purchasing instructions for details.

Note: UPS typically delivers to the shipping room (in the Stata Center) by 10AM. It usually takes MIT an additional day to bring packages to the shop. Therefore, to get overnight deliveries in one day, you will need to pick up the materials from the shipping room yourself. You can call 617-253-4744 to see if your package has been received.