Employee Handling A Student Organization's Funds

Date Approved:1-20-1989
Last Revision:1-20-1989
Last Reviewed:1-20-1989
Approved By:President
Oversight Unit:CONTROLLERS OFFICE
This policy has a related guideline. Click to view the guideline below.
Purpose

The purpose of this policy is to provide the employee handling of student organization’s funds.

Applicability

All Faculty and Staff

Policy


 

There are presently two distinct situations where an employee may be involved with or asked to handle money of student groups:

1. STUDENT ORGANIZATIONS WITH A UNIVERSITY ACCOUNT

Certain groups are budgeted annually and funded through the student activity fee. These organizations use the University's Financial Accounting System (9-fund account). A staff member serves as advisor and FRS account director, and his/her signature is needed to authorize disbursements. Established University policies and procedures are followed.

2. STUDENT ORGANIZATIONS INDEPENDENT OF THE UNIVERSITY ACCOUNTING SYSTEM

Most groups (fraternities and sororities; service, social and sports clubs; residence hall organizations; etc.) are financed by their own dues, membership fees, money raising projects, etc. They may occasionally receive activity fee money for special projects as approved and disbursed by the Student Finance Committee. These organizations sometimes have University employees acting as advisors or handling money.

A treasurer should be elected from the organization. A University employee is not to handle the group's finances as a part of assigned job duties unless proper approval is obtained from the Vice President for Finance and Administration. Suggested cash handling procedures are available in the Student Activities Office, and should be provided to the officers of each organization.