All student organizations, except student housing organizations not under the direct management of Purdue University, are required to handle their finances through the Business Office Student Organizations.

A. Regulations for Organizations Handling Finances through the Business Office Student Organizations

1. Each organization shall prepare a budget for the school year or other fiscal period, which is not operative until it has the approval of the director of the Business Office Student Organizations.
2. General financial procedures, including receiving and dispersing of funds, are to be made in accordance with policies and procedures as prescribed by the Business Office Student Organizations.
3. All financial records are to be kept complete and current by the responsible student organization officer.
4. Financial records may be requested at any time for audit purposes.
5. Tickets for all events to which an admission fee is charged are to be secured through the Business Office Student Organizations. For each function held, an accounting of tickets must be made to the office.
6. The Business Office Student Organizations is to be consulted before services are solicited. All contracts entered into by organizations are to be approved in advance by the director of the Business Office Student Organizations.
7. Each organization is assessed an audit and supervision charge of one and one-half percent of annual gross income to defray partially the costs of operation of the Business Office Student Organizations. Organizations that handle accounts through this office are covered by the University’s general liability insurance policy, which is explained in more detail in Section X.

B. Financial Responsibility of Student Organization Officers
A student who through neglect or dishonesty fails in his/her duties as an officer of any student organization:

1. To collect amounts due, or to pay the organization’s debts legally incurred by him/her; or
2. To account for cash received and expended by him/her; or
3. To account for other property entrusted to him/her as an officer of a student organization, shall be referred to the Office of the Dean of Students for appropriate action.

C. Sales, Canvassing, Contribution Projects
Recognized nonprofit student organizations may, through the Event Planning Form, conduct sales, canvassing, and contribution projects on campus. Such projects may include the selling of printed material on campus grounds. All projects involving the sale of any item, including tickets, must be registered in advance on an Event Planning Form, and cleared through the Business Office Student Organizations.