All student organizations must abide by the Office of the Dean of Undergraduate Students' rules, regulations, and policies regarding student organization accounts.
Fiscal management is of significant responsibility. Misrepresenting the nature of a student organization event, not following IRS procedures or violating University regulations are serious offenses which will result in disciplinary action.
For more information, please see our Financial Procedures section.
- Only students registered as Treasurers have access to their groups' financial information.
- All financial information is stored in Prime, the University's financial system. Prime is accessible through prime.princeton.edu. For more information on student organization use of the system, please visit this site: http://odusapps.princeton.edu/StudentOrg/newfinance.php.
- All recognized student organizations are given a ten-character alphanumeric chart string: 15XXX-Q0001. The first five characters are the organization's department number, the second five are the fund code. Organization funds are held in this account, which allows the University to debit or credit the account for goods and services rendered.
- Organizations are required to maintain their own financial records. Although ODUS administrators have access to and monitor student org accounts, it is the responsibility of the group Treasurer to accurately account for the group's finances.
Other Regulations and Best Practices
- Student organizations may not maintain outside bank accounts.
- All funds collected (dues, donations, profits, etc.) must be deposited into the group's account. These funds may not be deposited into an individual student's bank account, be held on an individual student's person, or invested. Checks may be brought to the 7th Floor of New South or the ODUS office. Cash may be brought to New South only.
- Under no circumstances should a student pay an individual for services rendered and expect reimbursement from the University (e.g., paying a DJ yourself and submitting a reimbursement request via Concur).
- Under no circumstances should a student organization pay a vendor directly out of event admission fees (e.g., ticket sales).
- Per University policy, students may not hire other students for services without first consulting the ODUS office. Invoices submitted retroactively (without prior consultation) will not be paid.
- Per University policy, because of IRS regulations, cash or cash equivalents (such as gift cards or certificates) must be treated as compensation and student organization funds cannot be used to purchase gift cards.
- All financial information is stored online in Prime, the University's financial system. For more information on Prime, check out this link:
- Organizations are required to monitor and maintain their own financial records. Although ODUS has access to all student org accounts, the group's Treasurer has the responsibility of maintaining up-to-date accounting.
- Student organizations may not conduct any fundraising efforts without first contacting and submitting a proposal to an administrator in the Office of the Dean of Undergraduate Students.
- All reimbursement requests must be submitted via Concur.