Financial policies and procedures are a necessary part of leading an undergraduate student organization. Since student organizations are formally recognized by the University, they are required to adhere to University policies and procedures governing financial transactions. These transactions are processed by the University offices that provide services for the entire University community; our role in the Dean’s office is to serve as a bridge between student organizations and University financial offices. We are able to provide clarification about University policies and serve as an advocate when necessary to ensure that student organizations are considered when policies and procedures are being developed. With this in mind, please consider the following policies:
Purchases, payments + deposits
Reimbursing an undergraduate student
We suggest that group treasurers assume the responsibility of submitting reimbursements in order to have a better understanding of the financial transactions of the organization. However, we recognize that in many instances the volume of financial transactions for some organizations require multiple students to submit reimbursements. We encourage all students to communicate with the treasurer regarding financial transactions conducted on behalf of the group.
- To reimburse yourself or other Princeton students, please submit a Princeton University Student Voucher.pdf, which is available online or at 313 West College. Each reimbursement requires the following:
- All original receipts and/or invoices that delineate the amount to be reimbursed.
- The Princeton University ID number of the student being reimbursed.
- International students must include their full name as it appears in the University directory and indicate the status of their visa (i/e F-1).
- If the voucher being submitted involves the purchase of food for a particular event, the receipt(s) need to have the name of the establishment and their contact information clearly stated on the receipt and/or invoice.
- Please note, on the description line of the voucher you need to include a description of what the intended purpose of the purchases are for, i.e. study break, performance, etc.
- The completed voucher with all necessary receipts attached must be submitted in person to 313 West College during business hours.
- We strongly advise that vouchers filled out online as a pdf and submitted to West College as a typed document. These forms will be processed faster than those submitted with handwritten information. Legibility is pertinent to the timeleness and accuracy of all reimbursements.
- We recommend students set up Princeton University Direct Deposit Accounts through the Student Accounts Office. This will allow funds to be electronically deposited to your designated account. Students who defer this option must supply a summer address on any voucher submitted after May 1.
- Princeton's fiscal year ends June 30. After this date we are unable to process financial transactions from the previous fiscal year.
- Payment can take up to ten business days to process.
Reimbursing non-students and employees
There are separate procedures and protocol for reimbursing non students and employees. Please contact the ODUS office beforehand for further advisement on these policies.
Paying a non-student and/or company
The Vendor/Honorarium Voucher.pdf is used to pay any non-student (either individual or group) for services provided to a student organization. This form can be accessed online or at 313 West College.
In order for a check to be issued in advance of the services being provided, you should obtain the following from the vendor:
- An official invoice that includes the name, mailing address, contact information of the vendor, and the itemized costs of the services and/or products to be provided. This number should be exact and not an estimate of costs; the check will be issued in the amount listed on the voucher. The invoice should also clearly state to who the check should be made out to and the mailing address to which the check should be sent.
- In the event the vendor does not provide an invoice, you will be required to use a University approved contract. For any vendor receiving payment of less than $3,000, we require that the vendor use the University contract. Please note that, for their own protection, no student can sign any contract. All non University contracts must be submitted for review by the Dean’s office at least one month before the required execution of the contract.
- A completed W-9 form is required for any vendor doing business with the University in order to comply comply with IRS guidelines. While paying an individual (ie sole proprietor) requires the submission of a W-9 with each voucher submitted to the office, large corporations, such as Wal-Mart, Target, etc.) do not require the submission of a W-9.This form is available at 313 West College and online (.pdf).
- Please attach all required paperwork (w-9, contract and/or invoice) and a completed Vendor/Honorarium Voucher in person to the Dean's office during normal business hours. The voucher needs the following information:
• Name of person or company
• Complete mailing address where the check is to be sent.
• Student organization name, as well as the name and contact information of the student submitting the voucher.
• The description of the payment and the event name and date.
• The total amount to be paid.
• The project grant number to be charged (your student group account).
- Checks issued in advance of the event should not be sent to the vendor, but rather delivered immediately after services have been provided (the conclusion of the event, for example). Please list “call for pick up” on the top of the voucher at the time of submission. Please list the phone number of the Dean’s office, 8-5750. We will call you and notify when the check is ready to be picked up.
- Please allow ten business days for checks to be processed in advance.
Paying/receiving funds from other University departments
- An Interdepartmental Invoice (I.I.) form is used to either credit or debit any other University department or student organization. This form is available online (.pdf) and at 313 West College.
- When student organizations receive credits from University departments (a contribution from a department in support of an event, for example) the departmental administrator will submit the II either electronically or using the paper form. Student groups must provide their project grant account number for receipt of the funds.
- When student organizations are being charged by a University department for services rendered, the group should give the billing department their project grant account number in order to execute the charges. Often, departments will require the submission of this number before services can be committed, so please make sure you know your project grant number. Your project grant number is automatically listed on the online student event regristration form and is also available through ODUS.
- Financial transactions between student organizations should be executed using an Interdepartmental Invoice (I.I.) form. You will need to provide your name, a brief description of the transaction, the amount of the transfer, the student organization project grant numbers of the group to be credited and debited (please identify which group should receive the credit/debit). The completed II must be submitted in person to the Dean's office during normal business hours. A representative from the ODUS will sign the I.I. and submit it for processing.
- Please note that Princeton Student Agencies should be paid using this form.
- Please allow ten business days for these transactions to post to your account.
- The II process only exists within the University. A non-University service provider cannot use this method to transfer money into your student organization organization account.
Credit Card Policy
To help students with organization costs, the Dean of Undergraduate Students has a credit card specifically for student organizations. Student groups can use this card for organization purchases if they abide by the following guidelines:
Students must make an appointment with Jeanette DeGuire email@example.com in order to use the office credit card. You must give at least one business day notice. Same day requests cannot be granted.
If the amount is going to be over $1,500, please let Jeanette know at least 48 hours before the purchase.
All transactions need to have an invoice. Online purchases will automatically generate an invoice at check out, but phone transactions require an invoice before the order is placed.
- All shopping must be done before the appointment. If a shopping cart cannot be saved, students need to have a detailed list ready before the order. In the case of plane tickets, please have a site and flight number ready.
- Due to space restrictions in the ODUS office, we cannot have students at the computers for extended periods of time. With that in mind, we expect students to do on-line shopping in advance and strongle advise students to use vendors that allow you to preshop and save your order for later checkout. If this is not available, you need to come with a detailed, itemized list of the items you intend to purchase.
- A point of delivery will also need to be established for all purchases. No shipments or deliveries should be sent to the ODUS office.
Princeton University is recognized as a non-profit, educational institution, retaining Federal Tax Exempt Status as registered under the Federal Tax Exempt number 22-73-0009F. Princeton University is recognized as being a tax-exempt organization on virtually all purchases (with some exceptions such as oil). Princeton is not exempt from the NJ State Hotel/Motel Occupancy Tax. For more information please visit the Princeotn University's Purchasing Sales Tax Exemption Web site.
Princeton University is exempt from paying New Jersey sales tax. All subcontracts and purchase orders for the purchase of materials, supplies and services subject to New Jersey State sales tax should cite the exemption number.
In addition, Princeton University maintains tax exempt status for the following states and cities:
- New York
- New York City (hotel room occupancy tax only)
- New Jersey
These exemptions are applicable for University purchases of tangible property or taxable services, not for purchases by students for items purchased for personal use.
Copies of these forms may be downloaded from the Purchasing Department Web site.
- Cash deposits can only be accepted in the cashiers' office on the 3rd floor of New South between the hours of 9-5 pm.
- Deposits can be made using a deposit slip obtained from 313 West College or online (.pdf).
- Check deposits must be submitted in person to 313 West College. Please make sure you give the deposit directly to a person to ensure proper handling.
- All checks are copied and filed in their respective student organization financial folder for record keeping and future reference.
Donations & Fundraising
All donations are processed by Gift Records to ensure the donor receives the appropriate recognition for a gift to Princeton University. Gift Records also prepares all the paperwork needed for the donor’s tax records. Donations can be brought to the ODUS office or sent directly by the donor to Gift Records at the following address:
PO Box 5357
Princeton, New Jersey 08540-5357
Phone: (609) 258-8283
Fax: (609) 258-2432
If your donation is being submitted directly to Gift Records, please make sure the donor clearly lists the name of the student organization as the intended recipient of the gift. It will take one month for donations to be processed and show up in your student organization account. If, after that time, you have questions please contact the ODUS office. Donations can be submitted to the Dean's office using the following procedures:
- Donations can be made using the donation form obtained from the Dean's office.
- The following information is required: donor's name, address, and amount of gift - this information is normally avilable directly on the front of the check. Please submit the Donation form and the attached check(s) in person to the Dean's office during normal business hours. Please give the donation directly to a person to ensure proper handling.
- Cash donations can only be accepted during regular business hours at Gift Records, 4th floor, Helm Building.
- Please note that student organizations are required to obtain written authorization from the Development office before soliciting alumni for donations to student organizations. Please contact the Dean's office in order to properly prepare your proposal for review by the Development office. Normally, the University does not authorize any such solicitations during the Spring semester. Students are strictly prohibited from using TigerNet to gather alumni addresses for solicitation lists.
- If you are conducting a fundraiser for a non-profit, please review the guidelines for Funding for Humanitarian Relief efforts in the event management section.