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Manual

PDF Version

Table Of Contents

Introduction

Officer Changes

Accounting Documents

General Operating Procedures

Accountability of Funds

Deposit of Funds

Disbursing Funds

Student Organization Expenditure Procedure

Payment to Individuals

Payment to Vendors

Check Advance and Change Funds

Contracts

Payment for Travel Expense

Purdue University Bills

Equipment Purchase Form

General Information

Liability Insurance

Medical Insurance

Sales Tax

Awards and Scholarships

Games of Chance

Gift Policy

Accounting Functions

Budgets

Cash Control Ledger

Reconciling Monthly Statements

Audits

INTRODUCTION

Purdue University policy requires that all recognized Student Organizations who have financial activity operate their account through the Business Office for Student Organizations.

OFFICE LOCATION: Business Office for Student Organizations
Room 213 Schleman Hall
OFFICE HOURS: 8:00 A.M. - 5:00 P.M., Mon. - Fri.
OFFICE PHONE NUMBER: (765) 494-6724

The purpose of the Business Office for Student Organizations is to provide financial oversight to all recognized student organizations by:

  1. Providing accounting and business services.
  2. Providing uniformity in accounting records and procedures.
  3. Providing procedures for proper accounting of funds.
  4. Establishing continuity between business officers and their successors.
  5. Providing auditing services.
  6. Assisting organization officers in keeping their activities on a sound business basis.
  7. Assisting and educating organization officers on financial planning and financial responsibilities.

The Business Office for Student Organizations should be contacted concerning Purdue University Policies and Procedures as they relate to student organization accounting procedures.

The Student Activities and Organization, Office of the Dean of Students should be contacted when planning events and activities. Questions pertaining to University policies on fund raising, soliciting, advertising support, charitable activities, and other programming questions should be directed to this office of the Dean of Students, Room 250 Schleman Hall, or call 494-1231.

All events/activities and travel must be registered in advance on an Event Planning Form or Travel Planning Form and approved by the Office of the Dean of Students.

All social events and activities sponsored by student organizations must be scheduled on a Student Organization Event Planning Form, which is available in the Office of the Dean of Students, Rm. 250 Schleman Hall. This should be submitted for approval at least two weeks prior to the event or activity. (See example 17)

All travel activities sponsored by student organizations must be scheduled on a Student Organizations Travel Planning Form, which is available in the Office of the Dean of Students. Rm. 250 Schleman Hall.  This form provides a detailed description of the travel planned by a student organization as well as financial details of the trip. The treasurer should retain a copy of the approved form in order to submit with all check requests relating to the trip. The Travel Planning Form should be completed at least two weeks prior to the travel date.

The treasurer of an organization is the chief fiscal officer of that organization and as such is responsible to the Business Office for Student Organizations for the accounting of all income and expenses of the organization. A student who, through negligence or dishonesty, fails in his/her duties as an officer of any recognized student organization (a) to collect accounts due, or to pay the organization’s debts legally incurred, or (b) to account for cash received and expended by him/her; or (c) to account for other property entrusted to him/her as an officer of the recognized student organization, shall be referred to the Office of the Dean of Students for appropriate action. 

OFFICER CHANGES

At the beginning of the school year, and upon election of new officers, each student organization must renew their signature card with Business Office for Student Organizations. The treasurer, president, and faculty advisor must sign the signature card before financial transactions can occur.

Business Office for Student Organizations workshops are provided to all new treasurers and presidents at the beginning of each semester. These workshops are designed to assist new treasurers and presidents in understanding the policies, procedures, and services of the Business Office for Student Organizations office. Call Business Office for Student Organizations for more information. 

ACCOUNTING DOCUMENTS

As treasurer you will be working with the following documents and items.

  1. Participant Roster
  2. Merchandise Sales Report (BOSO 3-Part Form)
  3. Ticket Sales Report (BOSO 3-Part Form)
  4. Inventory Report
  5. Deposit Slip (BOSO 3-Part Form)
  6. Income Codes
  7. Expense Codes
  8. Check Request Form (BOSO 3-Part Form)
  9. Check Advance Request (BOSO 3-Part Form)
  10. Change Fund Request (BOSO 3-Part Form)
  11. Service Contract
  12. Fund Raising Sales Contract with Credit Card
  13. Fund Raising Sales Contract without Credit Card
  14. Contract Addendum
  15. Scholarship Award Form
  16. Cash Control Ledger
  17. Event Planning Form (ODOS 3-Part Form)
  18. Travel Planning Form (ODOS 3-Part Form)
  19. Contest – Tournament Prize Form
  20. Equipment Purchase Form (BOSO 3-Part Form)

BOSO 3-Part Forms available at BOSO/SCHL 213.
ODOS 3-Part Forms available at ODOS/SCHL 250 or at their website.

Other BOSO forms are available on our website.

GENERAL OPERATING PROCEDURES

All cash and checks received by the student organization must be deposited to the student organization’s account. DEPOSITS should be made promptly at the Bursars office, Room 3 in Hovde Hall using Student Organization Deposit Slips.

The Bursar Office is open Monday thru Friday, 8:30 a.m. to 12:00 p.m.
and 1:00 p.m. to 4:30 p.m.

All disbursements must be made by Student Organization Check regardless of the nature of the expenditure.

The Business Office furnishes Deposit Slips, Checks Requests, and Cash Control Ledgers for student organizations. A listing of Income and Expense codes are also provided so that a code can be assigned to each financial transaction.

The treasurer should deposit checks written to the organization on a timely basis. Individuals whose checks are returned unpaid from a bank will be assessed a $20.00 handling fee. Individuals are notified of these unpaid checks by Business Office for Student Organizations. Students who fail to make payment on these checks within 30 days will have their academic records encumbered. If the treasurer holds an individual’s check for greater than three months and a $20.00 handling fee results (account may be closed or NSF), the student organization’s account will be assessed the handling fee.

Student organization funds cannot be used for the purchase of tobacco products, alcoholic beverages or related expenses.

If your organization has a permanent office address or box number (such as RSC, PMU, or Stewart Center) all correspondence will be sent to this address. If your organization does not have a permanent office or box number, all correspondence will be mailed to the treasurer’s campus address. 

ACCOUNTABILITY OF FUNDS

Accountability for all funds collected by the student organization is the responsibility of the treasurer. Accountability can be established in several ways:

  1. The treasurer can maintain a Record of Dues Collected for club dues, which include the members name, amount of dues paid, and date of payment. A Participant Roster can also be used for other activities whenever the club is collecting fees from several individuals. Blank roster forms are available at the Business Office for Student Organizations (see example 1, 2). A treasurer can choose to issue a duplicate numbered receipt for all dues, fees, assessments, and other income received.
     
  2. In order to provide accountability of MERCHANDISE SALES ACTIVITY and TICKET SALES ACTIVITY, recognized student organizations should maintain a completed TICKET SALES REPORT, MERCHANDISE SALES REPORT OR INVENTORY CONTROL REPORT in their financial record book for various income producing events. These reports, when completed will provide the organization and its members a record of deposits and a summary of the sales event. These forms are reviewed for accuracy during the organizations annual audit by Business Office for Student Organizations. Procedures regarding the completion of sales and ticket reports are initially discussed with the student organization prior to an event or activity when the organization members are completing the Event Planning Form.

Merchandise Sales reports, Ticket Sales reports, and Inventory control reports are available from the Business Office for Student Organizations office. (See example 3, 4 and 5). Business Office for Student Organizations also has admission tickets available for use by student organizations. 

DEPOSIT OF FUNDS

The Student Organization Deposit Slip (see example 6) should be filled out so that all sources of income are identified and coded with the proper Income Codes.  Additional information required on the deposit slip would include:

  1. The Student Organization Account Number as well as the Organization Name.
    PLEASE DO NOT USE ACRONYMS.
  2. Individual’s name that prepared the deposit slip.
  3. Clear information as to source and description of funds being deposited.

Clear information includes from whom you received the funds, check number and specific purpose of funds.

The treasurer of the Student Organization must have information to support each entry listed on the Deposit Slip. If membership dues are collected, a Record of Dues Collected should be completed, or a numbered duplicate receipt should be issued, and maintained in the student organization records.

Duplicate receipts should be numbered, and these numbers recorded on the deposit slip. By listing the receipt numbers, the treasurer can document the source of dues, fees, assessments, or other income received by the organization. If a Record of Dues Collected is used the deposit number should be recorded on the form. If receipt numbers are not recorded on the deposit slip Business Office for Student Organizations will contact the organization for this information. 

DISBURSING FUNDS

STUDENT ORGANIZATION EXPENDITURE PROCEDURES

Payments from student organization accounts are processed using the student organization check writing system. Data entry of expenditure information will be processed into the system that will produce the computer generated checks. All check requests received by Business Office for Student Organizations will be batch processed and will be ready for pick-up or mailed out in two (2) business days.

The student organization check request form along with original receipts or invoices should be turned into Business Office for Student Organizations for payment processing (see example 9). The check request form should be completed thoroughly including all information and signatures. The original receipts or invoices, which support the check, should be paper clipped to the check request form. Business Office for Student Organizations will retain the original receipts or invoices.

If copies of the invoice or receipts are needed by the organization, the treasurer should make copies prior to submitting them for payment.

  1. The check request form is completed by the student organization.

  2. The treasurer should review the check request form for accuracy and completeness. This review will insure that the account number, proper expense codes, appropriate supporting documentation and the signature of the individual requesting reimbursement is included. The treasurer should also insure that the signature of either the club president or advisor is included on the check request in addition to the treasurer’s approval.

  3. The treasurer should retain the pink organization copy of the pre-numbered check request form in order to record the transaction to their cash control ledger. This pink copy should be filed in the organizations financial record book.

  4. Supporting documentation - original receipts or invoices should be paper clipped to the white and yellow copies of the check request form. The check request form along with supporting documentation can be dropped off or mailed to the Business Office for Student Organizations office.

  5. The Business Office for Student Organizations staff will final approve disbursement and enter the disbursement information to the Business Office for Student Organizations data processing system.

  6. The treasurer has the option of picking up their checks, or having the checks mailed directly to the vendor/payee.

    • If the treasurer has made the purchase, and is to be reimbursed, the president and the advisor of the organization must sign the check request.

      • Only original receipts or invoices will be accepted for check processing. If copies are needed, the treasurer should make copies prior to submitting the request to the business office. If original receipts or invoices are not available, contact the Business Office for Student Organizations for information.

      • If you have a check that requires a stop payment or needs to be voided, please contact Business Office for Student Organizations. If a check needs to be voided the check must be returned to the Business Office for Student Organizations office.

Remember to retain your pink copy of the check request so you can record the transaction to your cash ledger.

In order that check requests are final approved without delay, be sure that:

    • All information is entered completely on the check request.
    • All authorized signatures are complete.
    • All original receipts or invoices are attached.
    • All receipts or invoices total the check amount.
  1. PAYMENT TO INDIVIDUALS
  1. Credit Card Purchases

When a credit card is used to purchase items for the organization, the following procedures will be used to reimburse an individual.

    1. The original itemized counter receipt must be submitted to Business Office for Student Organizations. A counter receipt can be an itemized cash register tape or an itemized invoice.

    2. At restaurants and some commercial vendors it will be necessary to request the need for an itemized receipt prior to placing your order.

    3. The credit card signature receipt shows method of payment and is not acceptable documentation to process a reimbursement.

  1. Cash Purchases

If cash purchases are made for the organization, the following procedures will be followed:

    1. The original itemized receipt or invoice must be submitted to Business Office for Student Organizations.
  • If the original itemized receipt or invoice is lost or was not provided by the vendor - please contact Business Office for Student Organizations for details on processing a reimbursement.
  1. PAYMENT TO VENDORS

1. Purchases on Account

If the organization maintains an account with a vendor, such as Marsh, Payless, K-Mart, Target, etc., the vendor generally issues a monthly statement. IN ORDER TO PAY VENDORS FOR PURCHASES MADE ON ACCOUNT, THE ORIGINAL ITEMIZED CHARGE SLIPS OR CASH REGISTER TAPES WILL NEED TO BE ATTACHED TO THE MONTHLY STATEMENT. Please inform your organization members when charging purchases on an organization account, the original itemized receipt will need to be provided to the treasurer.

2.  Direct to Vendors

If the organization wishes to make a payment directly to a vendor, the original itemized invoice will need to be provided to Business Office for Student Organizations.

  1. CHECK ADVANCE AND CHANGE FUNDS
Under special circumstances there may be times when your organization may need a check advance or a change fund.

A Check Advance is an advance of the organization money to be used for organizational purposes.

A Change Fund may be requested as needed for fund raising projects. There are specific instructions that need to be followed when requesting either a check advance or a change fund. Please contact Business Office for Student Organizations for procedures relating to these disbursements (see example 10 and 11).

  1. CONTRACTS

All contracts for Entertainment Groups, Rental Agreements, Speakers, or other services obtained for Student Organization functions must be approved by Business Office for Student Organizations prior to incurring the obligation for these services. All contracts must be reviewed and signed by the President, Treasurer and Faculty advisor of the student organization prior to approval by Business Office for Student Organizations.

A student organization that wants to provide an honorarium to a speaker or guest lecturer may do so by processing a PERSONAL SERVICE AGREEMENT. The personal service agreement must be completed with all information and approved prior to payment. A gift certificate is considered a cash equivalent and therefore is an inappropriate means of payment for a PERSONAL SERVICE AGREEMENT.

Contracts should be submitted for approval at least two weeks prior to the event or activity.

Contracts involving financial support from an outside source must be developed according to University policy. BEFORE developing any contracts involving commercial support and advertising, contact Business Office for Student Organizations to review operating procedures.

The Office of the Dean of Students (ODOS) provides a review of all student organization contracts that concern advertising and outside support. The policy on Support of a Student Organization Activity by an Outside Source requires that the Office of the Dean Of Students review and clear the copy of all advertising.

Business Office for Student Organizations has blank contracts available for your convenience. (See example 12, 13 and 14).

  1. PAYMENT FOR TRAVEL EXPENSE

The following procedure will apply for the expenses related to travel and lodging. A Travel Planning Form must be on file and approved by the Office of the Dean of Students and the Business Office for Student Organizations prior to the trip.

    1. Prepayment by the Organization:

Payment can be made by a Student Organization check without involving individual member funds by using the following procedures.

    1. Obtain an itemized bill/invoice from a travel agency showing the total cost for a ticket to and from the destination.

    2. Obtain a "confirmation" from the hotel/motel showing the number of nights, number of rooms and cost of reservation. The hotel business office will send this out if requested. This check will be issued as a "Check Advance". Upon leaving the hotel you will need to go to the front desk to check out, and pick up an itemized hotel receipt. Do not do an "Express Checkout", as this does not give us the itemized receipt needed.

    3. An individual may receive expense subsistence up to $26.00 per day, per person to cover food and incidental purchases. (Individuals may not receive both subsistence and reimbursement for actual food receipts.)

    4. Conference Registration may be paid using a copy of the registration form indicating the amount per member. The names of members should appear on the approved Travel Planning Form.

THE ABOVE EXPENSES MAY ALL BE PAID PRIOR TO THE TRIP.

    1. Payment by the Organization to an Individual:

If an individual has made payment by check, cash or credit card for travel expenses or lodging and wishes to be reimbursed, the original itemized receipt must be submitted to the Business Office for Student Organizations showing that payment has been made.

    1. Airfare—Passenger coupon to be submitted to Business Office for Student Organizations after the trip is completed.

    2. Some airlines are now TICKETLESS. In that case you would receive a "Letter of Confirmation/Receipt of Payment." After the trip the above "Letter of Confirmation/Receipt of Payment" should be turned in for reimbursement.

    3. Lodging—Itemized bill from hotel/motel to be submitted to Business Office for Student Organizations after the trip is completed.

    4. Gasoline—Original itemized receipt to be submitted to the Business Office for Student Organizations after the trip is completed.

    5. An individual member may use his private vehicle and be paid up to .32 cents per mile.  See Business Office for Student Organizations for university mileage allowances and dollar calculations. (Individuals may not be paid for both mileage and actual gas receipts.)

THE ABOVE TRAVEL REIMBURSEMENTS TO INDIVIDUALS CANNOT BE PAID UNTIL THE TRIP HAS BEEN COMPLETED. 
  1. PURDUE UNIVERSITY BILLS

Purdue University has two Accounts Receivable systems that affect student organizations. These two systems (CARS and PMU) operate an accounting system whereby university departments and organizations can charge university services and merchandise to a specific account. Many student organizations use this system for charging services such as printing, physical plant services, transportation, and general stores and banquets, etc. An invoice will be mailed monthly to the organization. As the treasurer of a student organization, you need to review the invoices in order to verify that charges are correct.

Treasurers have the responsibility to make timely payments. Business Office for Student Organizations reserves the right to pay delinquent University receivable invoices without the consent of the organization if, after review, Business Office for Student Organizations deems this action appropriate.

  1. EQUIPMENT PURCHASE FORM

The Equipment Purchase Form (example 20) is to be used by student organizations wishing to purchase capital equipment priced at $1,000.00 or more per item. This form is to be completed by the student organization and approved by Business Office for Student Organizations prior to the purchase of any equipment.

GENERAL INFORMATION 
  1. LIABILITY INSURANCE

Purdue University carries a liability policy covering the activities of student organizations under the direct management of the University and whose finances are under the supervision of the Business Office for Student Organizations.

The policy affords protection to University sponsored student organizations (including their officers and members) while acting within the scope of their duties. Excluded from coverage is any organization not under direct financial management of the University, any organization whose hazardous activities mandate the purchase of special liability insurance, and activities involving the ownership, maintenance, operation or use of any automobile or aircraft.

For some functions and activities, student organizations will be required to submit evidence of a liability insurance policy or obtain special insurance for the event.

  1. MEDICAL INSURANCE

Individuals and student organization members involved in student organization activities are responsible for maintaining their own medical insurance coverage.

  1. SALES TAX
  1. When Purchasing Items:

As a recognized student organization, you are exempt from paying the Indiana sales tax on items that are purchased, retained, and used solely by the organization.

If a vendor requests a sales tax exemption certificate, please contact Business Office for Student Organizations for a copy.

Purchases for the benefit of any member of the organization or for any other individual, such as meals, lodgings or gifts, are not eligible for exemption. Therefore, sales tax should always be paid when purchasing these items.

The Indiana State sales tax exemption is to be used only for purchases in Indiana.

  1. When Selling Items:

When the student organization conducts selling activities to members or non-members, the organization becomes a retail merchant and must collect sales tax on these sales. The Indiana State sales tax of 5% must be collected by the organization when conducting sales activities. Business Office for Student Organizations will send a Monthly Sales Tax Report to all student organizations that conduct selling activities. If there are any discrepancies you must contact Business Office for Student Organizations before the 12th of the month to make corrections. Business Office for Student Organizations will generate a check based upon the Business Office for Student Organizations records and remit payment of sales tax to the State for the organization. Corrections after the 12th of the month will not be allowed.

Sales Tax issues often times create many questions for treasurers. Please contact the Business Office for Student Organizations at any time for clarification of any sales tax questions.

  1. AWARDS AND SCHOLARSHIPS

Student organization funds can be used to provide scholarships to Purdue students. These scholarships are intended to provide a grant-in-aid to a student who has attained the character, qualities, and activity as defined by the scholarship requirements.

The Scholarship and Award Form is the document used by student organizations to provide information for the awarding of scholarships. 

All awards and scholarships issued to students by a student organization must be processed through the Bursar/Financial Aid disbursement system. In order to process an award to a student, the organization must submit a check request payable to Purdue University. This check request along with the completed Scholarship Award Form must be submitted to Business Office for Student Organizations for processing.

  1. GAMES OF CHANCE

Student organizations under the fiscal supervision of the Business Office for Student Organizations may not conduct games of chance on or off campus. Games of chance include but are not limited to bingo games, raffles, charity games nights, door prize events, or festivals that include prizes from pull tabs, punchboards, or tip boards.

  1. GIFT POLICY

Gift Policy

University Regulations state: “Use of University facilities in any manner that results in financial gain, either directly or indirectly, to individuals or non-University organizations or groups is prohibited.” Based on this regulation, student organization funds may not be transferred as gifts, charitable contributions, or donations to an individual or donations to groups or organizations whose funds are managed outside the control of Purdue University.

Exceptions to Gift Policy

Funds are generated by student organizations from a varied source of activities such as membership dues, activities on campus, activities off campus, donations from individuals, and donations from outside agencies and companies. All funds are collected by the student organization to provide the means to conduct the activities of the club. Funds that are held by a recognized student organization may be expended as approved by the general membership of the organization, provided that the purpose of the expenditure is not in conflict with University regulations and other policy statements of the University.

1. Gifts in Recognition or Appreciation

A student organization often wishes to give a token gift of appreciation to an individual that has provided service or assistance to the club. Organizations may use any funds that have been collected by the organization for this purpose. Gifts would be of a tangible nature.

A maximum dollar limit of $100.00 per item, maximum $100.00 per person, per year, is the allowable total value of the gift.

Cash, cash equivalent, or gift certificates cannot be given as gifts.

2. Charitable contributions

A student organization often wishes to give a donation to organizations or groups outside the University who are recognized by the IRS as a 501-c-3 non-profit agencies. Student organizations may use any funds that have been collected by the organization up to $100.00 provided those funds have not been otherwise restricted by third parties.

If the organizations wishes to give more than $100.00, the following fund sources are allowable:

•  membership dues ,

•  funds that have been contributed by club members for that specific purpose,

•  funds raised through events conducted under the University Charity Policy (see Regulations Regarding Retailing, Commercial Soliciting, Canvassing, Sponsorship and Marketing Activities on the Campuses of Purdue University).

  1. CONTEST – TOURNAMENT PRIZE OR AWARDS

    A student organization may provide prizes for activities such as, judged contests, organized athletic events, games of skill. Generally, a request from the organization is submitted to the Business Office for Student Organizations that explains the basis for the prize and the recipient’s name. A Contest – Tournament Prize Form is to be submitted along with a check request for payment to the Business Office for Student Organizations. Expenditures for prizes relating to games of chance will not be approved.

    Student organizations may provide awards based upon service, attendance and other virtues associated with awards of merit. (A list of recipients must accompany the check request.)
     

  2. CHARITABLE CONTRIBUTIONS

    A student organization may conduct solicitations on behalf of qualified charitable organizations ONLY AFTER RECEIVING APPROVAL FROM THE OFFICE OF THE DEAN OF STUDENTS, RM 250 SCHLEMAN HALL. The activity, solicitation, and disbursement of funds must adhere to the University’s charity policy and financial procedures as outlined by Business Office for Student Organizations.
     

  3. MEALS/FOOD

    Generally, student organization members are only allowed to expense meals and food to the organization account for those sponsored activities pre-approved and scheduled on an Event Planning Form. Impromptu dinners and food purchases that may only benefit one or a few members may not be an appropriate use of organization funds and could be construed as a gift or donation to an individual. Expenditures of this nature may require additional explanation and/or organization approval prior to processing.
     

  4. TIPS

    Tips itemized on receipts are generally approved for reimbursement. A tip will be reimbursed up to a maximum of 20% of the total food bill.
     

  5. INTEREST AND FEES

Student organization activity is partially supported by the investment of the collective excess cash balances of the student organizations. These identified funds are invested through the University Investment Department and interest earnings are distributed twice per year to student organizations.

An audit and supervision fee of 1 ½% of gross receipts is assessed each organization to defray partially the cost of operation of the Business Office for Student Organizations.

 

ACCOUNTING FUNCTIONS 
  1. BUDGETS

Each student organization should prepare an annual operating budget for internal control and planning purposes. The budget should be reviewed and signed by the president, treasurer and faculty advisor of the club. The treasurer should maintain the budget in the organization’s financial record book. Please contact Business Office for Student Organizations if your organization needs help in preparing an organizational budget.

  1. CASH CONTROL LEDGER

The cash control ledger is used by the treasurer to record the deposits and checks processed to the Student Organization’s account. This ledger is similar to your own personal check book register and should be maintained in the treasurer’s financial record book.

  • Each deposit should be entered and added to the existing balance in the account. (This information should be entered from the treasurers pink copy of the deposit slip.)

  • Each check request should be entered and subtracted from the existing balance in the account. (This information should be entered from the treasurers pink copy of the check request form).

  • The last figure in the "balance column" should reflect the cash balance in the Student Organization account.

  1. RECONCILING MONTHLY STATEMENTS

A monthly statement is mailed to each treasurer every month.

Just as with a bank statement, Business Office for Student Organizations depends on the treasurer to check all transactions, making sure that they are correct. Also, verify that all transactions on the printout belong to your organization and that all transactions that should be on the printout are present. If there are discrepancies, report them immediately to the Business Office for Student Organizations.

  • Deposits - Deposit numbers and amounts that have been recorded by the treasurer on the Cash Control Ledger should be verified against the monthly statement. Checking Interest is posted to the accounts twice a year and this entry will need to be posted to your Cash Control Ledger.

  • Check Requests - Each request number recorded by the treasurer on the Cash Control Ledger, should be verified against the monthly statement. The check number issued by the Business Office for Student Organizations should be matched to the request number and entered on the treasurer’s Cash Control Ledger. This reconciliation process will verify the transaction.

  • Business Office for Student Organizations may make adjusting entries to the account under the heading DEBITS on the Account Statement. These entries will need to be posted to you Cash Control Ledger. (Examples are postage expense and sales tax expense.) If you have any questions concerning miscellaneous adjustments contact the Business Office for Student Organizations office.

Remember that Business Office for Student Organizations depends on the treasurer to reconcile the organization’s records. Please do it promptly, and report any discrepancies immediately.

  1. AUDITS

Business Office for Student Organizations conducts audits of the financial activity of recognized student organizations. Audits are conducted during the school year as well as the summer months and are scheduled according to an audit cycle. Generally, each student organization’s financial records are audited once per year, however, some organizations are audited more frequently as determined by Business Office for Student Organizations.

 


Last Updated on August 11, 2008