General policies regarding accounts
- All student organizations are required to abide by the rules, regulations, and policies of the Office of the Dean of Undergraduate Students (ODUS) regarding student organization accounts.
- All recognized student organizations are given a seven digit account number beginning with the digits 541. This number is alternately referred to as a project grant number or student account number. Organization funds are held in this account, which allows the University to debit or credit the account for goods and services rendered. This number is provided to other University departments for billing purposes.
- Files (both electronic and paper) containing financial records and related paperwork for all student organizations are maintained in the dean’s office. These files are archived in West College for one academic year. Electronic financial records are available dating back to the 2000 fiscal year.
- Organizations are required to maintain their own financial records. Although ODUS prepares monthly balance reports for each organization, it is the responsibility of the group treasurer to maintain an up-to-date accounting of the group's finances.
- Before conducting any fundraising efforts involving sources off campus, students must submit a proposal to the Office of the Dean of Undergraduate Students.
- All reimbursements must be submitted to ODUS within two weeks of the event’s conclusion.
- Treasurers of student organizations are allowed to have access to their group’s 541 account in the Datamall. (Due to the limited space open in the Datamall, only one person per group is allowed to have access) To get access to the Datamall, please come into 313 West College between 1 pm-4 pm to fill out a University Financial Systems form. This document outlines how to read a Datamall statement.doc.
- Student organizations are not allowed to have outside bank accounts.
- Students are not allowed to have student organization money on their person.
- All funds must be deposited. Violation of this could lead to disciplinary action.
- Under no circumstances should a student pay an individual for services rendered and expect to be reimbursed by the University (i/e, paying a DJ from your own personal bank account and then submit a student reimbursement after the event). We will be unable to reimburse you due to the tax implications for the person providing the services, as this is considered taxable income by the University and must be reported to the IRS.
- ODUS considers any arrangements with outside printers contractual obligations, which under ODUS policy, need to be reviewed and signed by the Dean’s Office. There are no exceptions to this policy. In practical terms, this means that if you receive a quote from a printer you must make an appointment with Dean Dunne for him to review the terms and conditions and sign on behalf of your student organization. During this process, we also strongly encourage that you seek multiple quotes from printers to find the most cost-effective way of producing your publication.
- Per University policy students cannot hire other students for services (website design, lighting, dj, etc) provided for the group. If an organization wants to hire a student to do work for them, they must go through the ODUS office before the event. Invoices submitted after the work has been completed cannot be paid.
- Under no circumstances should a student organization pay a vendor directly out of event admission fees (i/e ticket sales…)
- Per University Policy: " Because of IRS regulations, cash or cash equivalents (such as gift cards or certificates) must be treated as compensation" Student Organization funds cannot be used to purchase gift cards.
- Fiscal management is of significant responsibility. Misrepresenting the nature of a student organization event, not following IRS procedure, or applying University tax exemption to personal purchases are serious offenses and disciplinary actions are likely to occur.