Accountibility
As a general policy, all students involved in financial transactions with student organization accounts should keep in mind that they are acting as trustees for the entire student body, and guide their actions accordingly. All students and student organizations are responsible for adhering to all policies guiding student organization finances as stated below in the SCSU Student Organization Manual.
Accounts
Establishing Accounts at SCSU - All recognized student organizations are required to maintain all financial accounts with the SCSU Business Office. Student organizations may not establish outside bank accounts without first obtaining an exemption from the SCSU Business Director. There are two types of accounts for student organizations: a (300) account is money received from the student activity fee and the finance committee on student government, and a (900) or agency account is any money raised from dues, donations, or fundraisers.
Agency Accounts - An agency (aka 900) account is a custodial account that the university can establish to hold funds for a student organization. This includes any money raised from dues, donations, or fundraisers.
Opening an Agency Account - To open an agency account, a "Request For An Agency Account" form must be submitted to Gwen Carlson in the Business Office (AS 124). These forms can be obtained in either the Student Government Finance and Fee Allocation office (AMC 138) or in the Business Office (AS 124). The form will be reviewed and, if approved, a copy of the request with the new account number will be sent to the student organization. Processing time is usually five business days. Your advisor's signature is required on the form.
Deposits - Deposits into the Agency Account can be made at the Cashier's office in Administrative Services. An account number is needed when making the deposit. Money that is deposited into an agency account will remain there until it is spent by the student organization. Monthly account reports are sent to the student organization advisor. Balances and other information can be obtained in AS 124 from Mark Wegge or Gwen Carlson.
Accessing Agency Accounts - To pay a bill from an agency account, the student organization can fill out a 1400 form. These forms can be obtained from the CSOLD office, AMC 139. The forms should be sent to AS 122. Processing usually takes two days. Checks can either be held for pickup or mailed directly to the group receiving payment, called a "vendor". Your advisor's signature is required on the 1400 form.
Restrictions on Agency Accounts - The Business Office will not comply with any check request written for the purchase of alcoholic beverages, drugs, or illegal items. Those found to have violated these restrictions will be prosecuted to the fullest extent of law and campus policy.
