Debt
If an organization should end a fiscal year with a negative balance in their 334XX account then the Senate Finance Committee reserves the right to freeze a portion of the organization's funding during the following fiscal year. For every year the organization incures debt, the amount that is frozen will increase by 50% (see Student Government policies page 43). For organizations with a debt in the 900XX account CSOLD will hold or suspend recognition until debt is paid.
As a general guideline, all recognized student organizations are required to keep all organizational income and funds in an on-campus account with the Business Office. To deposit funds into your account you need to separate checks and cash and bundle them separately with a total. Then take it to the office in the Administration Building, room 123. Make sure to write the total amount deposited and the organizations account number and code on the slip. The funds will be deposited into the account listed on the deposit slip and a receipt will be given to you along with the deposit slip for your records.
All equipment purchased with student activity fees becomes the property of the Student Government and St. Cloud State University. Equipment includes items such as computers, printers, sports equipment, office furniture, or other items with a useful life of five (5) or more years. Student organizations are responsible for all University equipment in its possession and should keep their equipment in a reasonable state of repair. Equipment puchases should be for official organizational use only. Property of the University may not be sold or transferred to other parties without prior consent of University Administration and the student organization Advisor.
1400, 16A, Contract Information Sheet, and Recognition-Copies of these forms are attached at the end of the manual for your review. If you have any questions about how to complete these forms, please contact the CSOLD office at 308-3004 or email csold@stcloudstate.edu.
Organizations will be expected to complete a requisition form (1400 Form) when a service is provided to your organization, a Purchase Order is required, or to pay a bill. Most forms are available in CSOLD, Atwood Center 139. Enter the following data on the 1400 Form:
- Organization's account number
- Object code from which expenditures are made, e.g., 300 (supplies)
- Quantity of the purchase
- Description of the expenditure
- Price per unit/ Total price (unit price times the quantity)
- Social security number, if a check is to be issued to a person
- Name and address of service provider
- Treasurer's and advisor's signature
- Total dollar amount
- Current date
- Office phone number or advisor's phone number
- Name of organization or department
When the 1400 Form is completed, send it to the Business Office, Administrative Services, Room 122. Retain the gold copy for your records. To make payments to a vendor or reimburse for purchases or services, a bill or itemized original receipt invoice for the purchase(s) must be attached. Processing takes approximately 3-4 working days. Benefits of this process include the following:
- Organizations are given a tax exempt status when purchases are made from a university account (with exception to travel related expenditures)
- Your advisor will receive a monthly computerized printout of all transactions
- Printouts verify transactions against the organization's daily ledger
- Protection is pro vided to the organization, the advisor and members against unauthorized expenditure of funds by any individual officer or member
