Where is The Money Kept?
Every Club is set up with three financial accounts: The A.S. Fund, the Club Fund, and the Gift Fund. All of these funds work identically, differing only in the source of money they contain. Information may be obtained from your Center advisor.
| All self-generated and fundraising money should be deposited into the CLUB Fund. Student organization funds must be kept in this University account that is maintained by the Center for Student Leadership. Off-campus accounts (e.g., Bank or Credit Union accounts) or other University departmental accounts are not permitted. |
| A.S. Fund: xxxx - 11001-SAF-SS-CLUBS - xxxx The A.S. Fund is set up for allocations from the SAC to individual Clubs. Allocations may be made as a result of the quarterly budgeting process or from approved discretionary requests - see below. Funds must be spent in the quarter they are allocated and do not roll over from quarter to quarter. This fund is managed by the ASSCU Financial Vice President. All inquiries regarding account balances and usage of this fund should be directed to him/her. |
| Club Fund: xxxx - 21148-SAF-SS-CLUBS- xxxx The Club Fund is set up to hold funds that have been generated by the organization through fundraising. Expenses can only be paid from this fund if the organization has a positive cash balance. Any balance in this fund carries forward from quarter to quarter and year to year. It is set up specifically for organizations to conduct business without ASSCU funding. Other than donations, all organization-generated revenue or credits from other departments must be deposited to this fund. This fund is managed by the CSO Administrative Assistant. All inquiries regarding account balances and usage of this fund should be directed to her. To deposit money (ticket sales, dues, etc. you'll need to complete a deposit form. |
| Gift Fund: The Gift Fund is set up to hold funds that were donated to the organization and processed through the Development Office. Funds from this account can only be paid out if the organization has received donations. Unspent money in this fund will carry forward from year to year. This fund is managed by the CSO Administrative Assistant. All inquiries regarding account balances and usage of this fund should be directed to her. |
How Do Clubs Get Money?
| ASSCU Quarterly Allocations - All registered clubs are eligible to receive a quarterly allocation of funds from ASSCU. The lump sum made must then be spent within the current quarter at the Club’s discretion. The allocation does not, however, indicate approval of proposed events or expenses. When planning events, Clubs should follow appropriate program planning procedures and consult with a Center advisor. |
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Petition for Discretionary Funds - The discretionary fund is used to promote creative programming and to give the opportunity to sponsor events that may cost more than your quarterly allocation. To access this fund, Registered Clubs must complete the Petition for Discretionary Funds form and submit it to ASSCU. Within one week of being received, the Student Affairs Committee and/or the Student Senate will review the petitions. The following week, they will make a decision. Clubs will then be notified of the decision by e-mail, and a listing will be posted next to the Club mailboxes. Your club will not receive a check or cash in the amount of the allocation. To access your approved discretionary funds, complete an Expense Request form.
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Fundraising- Clubs are encouraged to seek funding in addition to their ASSCU allocation. Fundraising activities give student organizations better ability to support their programs and activities. Clubs may participate in fundraising activities only under the auspices of the University. Fundraising activities in University Residence Halls and apartments may be conducted only by Residence Hall governments and organizations with prior approval of the Director of Residence Life. Bake sales, co-sponsorship, dues, and ticket sales are all great fundraising ideas. Further information regarding fundraising is available in the Center.
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How Do Clubs Access Money?
Expense Request Forms- For reimbursements from AS and Club Funds, clubs must complete the ASSCU Expense Request form (available in ASSCU) and give it to the Financial Vice President within ten (10) working days after the date of the the purchase or event. Cash reimbursements under $250 will be available for pickup from the CSO Administrative Assistant in approximately one week. Payments by check will be isued within ten (10) working days after Accounts Payable receives the request.
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When completing the Expense Request for, be sure to:
- Read the instructions carefully.
- Complete the entire form.
- Provide the original recipts, requested copies, and documentation
- Submit to the ASSCU Financial Vice President
If you are unsure about the form, it is better to wait a day to have your questions answered than to turn in an incomplete request.
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