Types of Accounts
Registered Student Organizations (RSOs) have four types of fund accounts:
- ASG Fund Account
- Club Fund Account
- Gift Fund Account
- Santa Clara Fund Account
Each fund account can only receive funds from particular funding sources (see below). However, the sum of funds across all three fund accounts is the total balance that an RSO has to spend on events and other expenses.
ASG Fund Account
Any funding that is allocated by the Associated Student Government (ASG) is transferred into this fund account. ASG funding sources include $50 quarterly funding as well as discretionary funding. Funds in this account may not carry over from one quarter to another.
Club Fund Account
Any funding that an RSO raises through fundraising efforts, membership dues, donations, and contributions are deposited into this fund account. Funds in this account may carry over quarter to quarter (and year to year).
Gift Fund Account
Any funding generated by the Development Office on behalf of an RSO is transferred into this fund account. Examples of these funds are monetary gifts from alumni and companies through University-sponsored fundraising. Funds in this account may carry over quarter to quarter (and year to year).
Santa Clara Fund Account
Any funding that an RSO raises through the Santa Clara Fund are deposited into this fund account. Funds in this account may not carry over from one quarter to another.
No Outside Accounts
Student organizations are not permitted to have any other type of financial accounts such as bank accounts, credit union accounts, off-shore accounts, academic accounts, or departmental accounts. All financial transactions must be made through the fund accounts described above.
Deposit First, Then Spend
All revenue that your organization generates by whatever means needs to be deposited into your club fund account first before being used as funds to pay for expenses.