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First, you need to fill out an Employment Agreement form (found on the SAO website) and submit it to SAO. You then need to pay a visit to MIT's HR offices, in the bizarre location seen on the map below. You'll need to schedule a meeting for your director with an MIT HR representative; they'll have to fill out an I-9 and W-4 and bring them to the meeting.
Our standard rate of payment is $200/week.
Finboard Applications
There isn't really a secret to these. Look at previous Finboard applications and copy as much as you can. Despite what they say, they don't actually care if you submit an itemization for items more than $200, at least when these items are things like props or costumes that are hard to predict in advance. Appeal if anything bizarre happens and you don't get money for something you normally do.